Macroeconomic Past Paper Questions and Mark
... may result in an increase in output with negligible inflationary costs. Otherwise, on a steeper range of AS, the demand-side policies may have a heavy inflationary cost) • the role of increased government spending which can create additional employment opportunities, for example, through infrastruct ...
... may result in an increase in output with negligible inflationary costs. Otherwise, on a steeper range of AS, the demand-side policies may have a heavy inflationary cost) • the role of increased government spending which can create additional employment opportunities, for example, through infrastruct ...
A Retrospective Look at the US Productivity
... framework. The common conclusion was that information technology had made a relatively small contribution to output growth up to the mid 1990s. The modest contribution of information technology investment, however, was not surprising given the relative size of investments in information technology e ...
... framework. The common conclusion was that information technology had made a relatively small contribution to output growth up to the mid 1990s. The modest contribution of information technology investment, however, was not surprising given the relative size of investments in information technology e ...
6 Was the Great War a watershed? The economics of World War I in
... France; (2) the mobilisation of labour and financial resources for the war; (3) the massive shift in demand and supply resulting from the enormous increase in government spending and from the changes in foreign trade imposed by the war. These shocks will be discussed here in terms of their direct ef ...
... France; (2) the mobilisation of labour and financial resources for the war; (3) the massive shift in demand and supply resulting from the enormous increase in government spending and from the changes in foreign trade imposed by the war. These shocks will be discussed here in terms of their direct ef ...
Macroeconomics: an Introduction - Penn Economics
... 3. Rental Income: income that landlords receive from renting, including “imputed” rent less expenses on the house, such as depreciation. 4. Corporate Profits: income of corporations after payments to their ...
... 3. Rental Income: income that landlords receive from renting, including “imputed” rent less expenses on the house, such as depreciation. 4. Corporate Profits: income of corporations after payments to their ...
finland as a knowledge economy
... Increasing investments in R&D during times of high unemployment required great political wisdom and courage, when an easier path would have been to generate immediate employment rather than build up longer-term strengths. Increasing R&D was helped partially by national industrial and innovation str ...
... Increasing investments in R&D during times of high unemployment required great political wisdom and courage, when an easier path would have been to generate immediate employment rather than build up longer-term strengths. Increasing R&D was helped partially by national industrial and innovation str ...
Evolution of the Human Life Cycle - Deep Blue
... Social mammals have three basic stages of postnatal development: infant, juvenile, and adult. Some species also have a brief female postreproductive stage. The human life cycle, however, is best described by five stages: infant, child, juvenile, adolescent, and adult. Women in both traditional and i ...
... Social mammals have three basic stages of postnatal development: infant, juvenile, and adult. Some species also have a brief female postreproductive stage. The human life cycle, however, is best described by five stages: infant, child, juvenile, adolescent, and adult. Women in both traditional and i ...
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... For the past 20 years, Jamaica has become less agricultural- and manufacturing-centric and more service-oriented as the country rightly recognized the growing importance of its citizens’ intellectual capital, among other factors, in increasing its international competitiveness. Jamaica has also exte ...
... For the past 20 years, Jamaica has become less agricultural- and manufacturing-centric and more service-oriented as the country rightly recognized the growing importance of its citizens’ intellectual capital, among other factors, in increasing its international competitiveness. Jamaica has also exte ...
UNEMPLOYMENT, VACANCIES, WAGES
... At any time, a modern economy has both unemployed workers and posted vacancies. Thinking about this fact in a static setting might lead one to think there is a serious mismatch between the workers and the jobs, in skills or in location, for example. Or it might lead one to think that the primary pro ...
... At any time, a modern economy has both unemployed workers and posted vacancies. Thinking about this fact in a static setting might lead one to think there is a serious mismatch between the workers and the jobs, in skills or in location, for example. Or it might lead one to think that the primary pro ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... That is the second dimension of the model is that growth depends on more investment occasioned by transferred resources or its supplementary role. This transfer is otherwise known as foreign aid (A). Aid becomes necessary because the available domestic resources (savings) are not sufficient to acqui ...
... That is the second dimension of the model is that growth depends on more investment occasioned by transferred resources or its supplementary role. This transfer is otherwise known as foreign aid (A). Aid becomes necessary because the available domestic resources (savings) are not sufficient to acqui ...
In this presentation
... Secular Stagnation Mark II • 80 years later, along comes Larry: – “a decline in the full-employment real interest rate (FERIR) coupled with low inflation could indefinitely prevent the attainment of full employment…” • This is after the financial crisis, which, of course, is no longer an issue: – “ ...
... Secular Stagnation Mark II • 80 years later, along comes Larry: – “a decline in the full-employment real interest rate (FERIR) coupled with low inflation could indefinitely prevent the attainment of full employment…” • This is after the financial crisis, which, of course, is no longer an issue: – “ ...
EN EN Results of in-depth reviews under Regulation (EU) No 1176
... inward-oriented sectors of the Croatian economy. As the global financial crisis unfolded, capital inflows suddenly stopped in 2009. The impact on Croatia was severe: domestic demand rapidly contracted and the ensuing recession led to soaring unemployment. The country entered a long-drawn recession f ...
... inward-oriented sectors of the Croatian economy. As the global financial crisis unfolded, capital inflows suddenly stopped in 2009. The impact on Croatia was severe: domestic demand rapidly contracted and the ensuing recession led to soaring unemployment. The country entered a long-drawn recession f ...
Intermediate Macroeconomics: Economic Growth and the Solow
... growth comes from; but if there is something like “knowledge” or “productivity” that ones takes as given as growing over time, the model does a very good job at explaining the time series facts. The model has the important implication that the primary determinant of growth is productivity. Saving, w ...
... growth comes from; but if there is something like “knowledge” or “productivity” that ones takes as given as growing over time, the model does a very good job at explaining the time series facts. The model has the important implication that the primary determinant of growth is productivity. Saving, w ...
Evaluating the Impact of One NorthEast
... GVA measures the total value of goods and services available through economic activity GVA = Output = Income = Expenditure Regional GVA is measured using the income approach: North East GVA = NE wages + NE profits Economic growth is generated by: 1) More jobs = Additional wages = Higher GVA 2) Highe ...
... GVA measures the total value of goods and services available through economic activity GVA = Output = Income = Expenditure Regional GVA is measured using the income approach: North East GVA = NE wages + NE profits Economic growth is generated by: 1) More jobs = Additional wages = Higher GVA 2) Highe ...
THREE ESSAYS ON SUSTAINABLE DEVELOPMENT by ANDRES
... consumption need not equal output of the consumption good at each point in time. In particular, for a small open economy, the interest rate is given by the world capital market, and consumption and investment decisions become separable. A small open economy should simply choose investment so as to m ...
... consumption need not equal output of the consumption good at each point in time. In particular, for a small open economy, the interest rate is given by the world capital market, and consumption and investment decisions become separable. A small open economy should simply choose investment so as to m ...
The Impact of the Financial Crisis on the Telecommunications
... markets resulting in the bankruptcy of some high profile USA international banks and the bailout of some of these banks by the government. Some commentators have remarked that a financial crisis of this proportion has not been witnessed since the Great Depression of the 1930s. The IMF (2009) observe ...
... markets resulting in the bankruptcy of some high profile USA international banks and the bailout of some of these banks by the government. Some commentators have remarked that a financial crisis of this proportion has not been witnessed since the Great Depression of the 1930s. The IMF (2009) observe ...
NBER WORKING PAPER SERIES SHARING SOME THOUGHTS ON WEITZMANtS THE SHARE ECONOMY
... This paper draws on a series of conversations, held during the Cowles Coffee Hour, With my collegues at Yale University as Well as the spirited discussion during a conference held at Yale on Martin Weitzman's The Share Economy. I am particularly grateful to Bill Nordhaus and Andrew John for their co ...
... This paper draws on a series of conversations, held during the Cowles Coffee Hour, With my collegues at Yale University as Well as the spirited discussion during a conference held at Yale on Martin Weitzman's The Share Economy. I am particularly grateful to Bill Nordhaus and Andrew John for their co ...
Theme 2 The UK economy: performance and
... 9 GDP per capita is a measure of the total output of goods and services in the economy, divided by the population number. In the UK, GDP per head was still ‘8% lower’ than it was before the recession ‘at around $38,000 (US$ PPP)’. One advantage of using GDP per capita is that it is easy to calculate ...
... 9 GDP per capita is a measure of the total output of goods and services in the economy, divided by the population number. In the UK, GDP per head was still ‘8% lower’ than it was before the recession ‘at around $38,000 (US$ PPP)’. One advantage of using GDP per capita is that it is easy to calculate ...
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... explicitly introduced the risk of disasters into an AK-type one-sector stochastic endogenous growth model and considered optimal pollution taxation. Hallegatte and Dumas (2009) considered a vintage capital model and showed that under plausible parameter ranges, disasters never promote economic growt ...
... explicitly introduced the risk of disasters into an AK-type one-sector stochastic endogenous growth model and considered optimal pollution taxation. Hallegatte and Dumas (2009) considered a vintage capital model and showed that under plausible parameter ranges, disasters never promote economic growt ...
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).