031909a
... demand, the impact of housing market corrections in some member states (which began later than in the U.S.), and an intensification of financing constraints. The impact of falling external demand has been larger and policy stimulus more moderate than in the United States, though automatic stabilizer ...
... demand, the impact of housing market corrections in some member states (which began later than in the U.S.), and an intensification of financing constraints. The impact of falling external demand has been larger and policy stimulus more moderate than in the United States, though automatic stabilizer ...
Table 1 - Riccardo Fiorito
... employees (usually, about 2/3 of government consumption) and pensions (often the highest transfer). 3. DISCRETIONARY SPENDING SHOULD NOT BE PERMANENT The third requirement is that discretionary spending must be temporary and revocable: as when a specific spending aims at obtaining an immediate goal ...
... employees (usually, about 2/3 of government consumption) and pensions (often the highest transfer). 3. DISCRETIONARY SPENDING SHOULD NOT BE PERMANENT The third requirement is that discretionary spending must be temporary and revocable: as when a specific spending aims at obtaining an immediate goal ...
Rhode Island Competitiveness: Creating a State Economic Strategy Professor Michael E. Porter
... Source: Prof. Michael E. Porter, Cluster Mapping Project, Institute for Strategy and Competitiveness, Harvard Business School; Richard Bryden, Project Director. Copyright © 2012 Professor Michael E. Porter ...
... Source: Prof. Michael E. Porter, Cluster Mapping Project, Institute for Strategy and Competitiveness, Harvard Business School; Richard Bryden, Project Director. Copyright © 2012 Professor Michael E. Porter ...
The Wealth of Nations and Economic Growth
... the same in year 1 as it would be 1,000 years later and indeed about the same as it had been 1,000 years earlier. For most of recorded human history there was no long-run growth in real per capita GDP. Countries might grow in particular good years, but soon enough a disaster would ensue and the gain ...
... the same in year 1 as it would be 1,000 years later and indeed about the same as it had been 1,000 years earlier. For most of recorded human history there was no long-run growth in real per capita GDP. Countries might grow in particular good years, but soon enough a disaster would ensue and the gain ...
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... • Increases in Productivity * productivity = real output per unit of input * rises when a) the health, training, education and motivation of workers are improved b) workers have more & better machinery & natural resources to work with c) production is better organized & managed Copyright McGraw-Hill ...
... • Increases in Productivity * productivity = real output per unit of input * rises when a) the health, training, education and motivation of workers are improved b) workers have more & better machinery & natural resources to work with c) production is better organized & managed Copyright McGraw-Hill ...
Beyond Lift-Off Scenarios for the Federal Funds Rate
... (Exhibit 3). Even with optimistic assumptions about the pace of jobs growth and the number of these jobs that ultimately are filled, this gap could take roughly 13 to 24 months to close. Adding to ambiguity about the health of the labor market is persistently weak wage growth. The two most commonly ...
... (Exhibit 3). Even with optimistic assumptions about the pace of jobs growth and the number of these jobs that ultimately are filled, this gap could take roughly 13 to 24 months to close. Adding to ambiguity about the health of the labor market is persistently weak wage growth. The two most commonly ...
Business Fluctuations: Aggregate Demand and Supply Business
... right of the LRAS – reflects capacity limitations in the economy Since wages are sticky downwards, a slowdown in nominal spending growth results in more unemployment than if wages/prices were perfectly flexible (RBC model) With a negative AD shock, the ultimate effect of sticky wages results in more ...
... right of the LRAS – reflects capacity limitations in the economy Since wages are sticky downwards, a slowdown in nominal spending growth results in more unemployment than if wages/prices were perfectly flexible (RBC model) With a negative AD shock, the ultimate effect of sticky wages results in more ...
Formula
... real GDP (=GDP in constant prices) is denoted by Y. This means that P is assumed to equal 1 in the base year as 1*Y=Y Nominal GDP is denoted by P*Y. It may be useful to think that there is one good in the economy; e.g. potatoes. Then Y is quantity of potatoes in terms of kilogrammes, and P is the pr ...
... real GDP (=GDP in constant prices) is denoted by Y. This means that P is assumed to equal 1 in the base year as 1*Y=Y Nominal GDP is denoted by P*Y. It may be useful to think that there is one good in the economy; e.g. potatoes. Then Y is quantity of potatoes in terms of kilogrammes, and P is the pr ...
Effects of export spillovers, FDI, and ownership structures on firms
... goods by other MNEs in the country • increased production in the downstream sector increases the demand for intermediary goods independently on whether foreign firms are present in the downstream sector or not ...
... goods by other MNEs in the country • increased production in the downstream sector increases the demand for intermediary goods independently on whether foreign firms are present in the downstream sector or not ...
Dossierbijdrage
... somewhat absorbed through lower profit margins. However it can be expected that in the current economic conditions the forecasted upward pressure on prices will diminish. In 2009, for the first time in four years, the price competitiveness is not expected to deteriorate. ...
... somewhat absorbed through lower profit margins. However it can be expected that in the current economic conditions the forecasted upward pressure on prices will diminish. In 2009, for the first time in four years, the price competitiveness is not expected to deteriorate. ...
The curse of natural resources * Natural Resources and Economic Development
... current explanations for the curse have a crowding-out logic. Natural Resources crowd-out activity x. Activity x drives growth. Therefore Natural Resources harm growth. Since there is a diversity of views regarding the second of these statements (what exactly drives growth), we have a similar divers ...
... current explanations for the curse have a crowding-out logic. Natural Resources crowd-out activity x. Activity x drives growth. Therefore Natural Resources harm growth. Since there is a diversity of views regarding the second of these statements (what exactly drives growth), we have a similar divers ...
Role of State Owned Enterprises in India`s Economic
... influence of first Prime Minister Jawaharlal Nehru. FYPs are centralized and integrated national economic programs. The first Five-Year Plan was one of the most important because it has a great role in the launching of Indian development after the Independence. Thus, it strongly supported agricultur ...
... influence of first Prime Minister Jawaharlal Nehru. FYPs are centralized and integrated national economic programs. The first Five-Year Plan was one of the most important because it has a great role in the launching of Indian development after the Independence. Thus, it strongly supported agricultur ...
PDF
... stagnation. However, if the political elites instead are capitalists, the autocrat manages to shift the comparative advantage by improving the institutional quality, which eventually provides an incentive to open up to trade and liberalise capital markets. We also add to the existing literature by s ...
... stagnation. However, if the political elites instead are capitalists, the autocrat manages to shift the comparative advantage by improving the institutional quality, which eventually provides an incentive to open up to trade and liberalise capital markets. We also add to the existing literature by s ...
The Role of Demand Management Policies in Reducing
... rates, the productivity growth slowdown, benefit levels, minimum wages, union power, high real interest rates, increased mismatch, demographics, and a host of other factors have all figured. While some of these have been found helpful in explaining particular episodes, neither singly nor as a group ...
... rates, the productivity growth slowdown, benefit levels, minimum wages, union power, high real interest rates, increased mismatch, demographics, and a host of other factors have all figured. While some of these have been found helpful in explaining particular episodes, neither singly nor as a group ...
Unemployment
... The Churning Economy Some of the change in the churning economy comes from the transitions that people make through the stages of life: From being in school to finding a job, to working, perhaps to becoming unhappy with a job and looking for a new one, and finally, to retiring from full-time work. I ...
... The Churning Economy Some of the change in the churning economy comes from the transitions that people make through the stages of life: From being in school to finding a job, to working, perhaps to becoming unhappy with a job and looking for a new one, and finally, to retiring from full-time work. I ...
NBER WORKING PAPER SERIES REAL EXCHANGE RATES AND PRODUCTIVITY GROWTH IN THE
... States. Such a gap in productivity performance would not ordinarily affect real exchange rates except that productivity growth is concentrated in the traded sectors of both economies. Thus through time, the prices of' traded relative to nontraded goods must adjust to reflect productivity gains, but ...
... States. Such a gap in productivity performance would not ordinarily affect real exchange rates except that productivity growth is concentrated in the traded sectors of both economies. Thus through time, the prices of' traded relative to nontraded goods must adjust to reflect productivity gains, but ...
M I E ’
... reliable electricity generation in the country. by the following factors: b It helps set electricity prices at costI There is no guarantee that private-sector reflective levels. In the long term, this is investment would entail lower increases in a pre-condition for an efficient allocation user char ...
... reliable electricity generation in the country. by the following factors: b It helps set electricity prices at costI There is no guarantee that private-sector reflective levels. In the long term, this is investment would entail lower increases in a pre-condition for an efficient allocation user char ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).