Paradigms of Explanation and Varieties of Capitalism
... In the daily cut and thrust of the now ubiquitous intellectual and political disagreement about which form of capitalism is to be preferred, defenders and proponents of particular models of capitalist organization invariably privilege that set of performance indicators that best serves their cause. ...
... In the daily cut and thrust of the now ubiquitous intellectual and political disagreement about which form of capitalism is to be preferred, defenders and proponents of particular models of capitalist organization invariably privilege that set of performance indicators that best serves their cause. ...
PDF
... activities in these sectors. The two sectors are considered major movers of the Nigerian economy. For instance in 2012, the percentage contribution of agricultural and industrial sectors to the gross domestic product (GDP) of Nigeria stood at 30.90% and 43.00% respectively (CIA, World Fact book, 201 ...
... activities in these sectors. The two sectors are considered major movers of the Nigerian economy. For instance in 2012, the percentage contribution of agricultural and industrial sectors to the gross domestic product (GDP) of Nigeria stood at 30.90% and 43.00% respectively (CIA, World Fact book, 201 ...
Robert 1050
... this growth rate does not exactly match the growth rate of effective labor, the output of either — I. or good 2 will eventually be driven to zero (Rybczynski effect). ...
... this growth rate does not exactly match the growth rate of effective labor, the output of either — I. or good 2 will eventually be driven to zero (Rybczynski effect). ...
Working Paper No. 315
... do not create surplus value but instead use it for various purposes are forms of social consumption and will lower the fraction of surplus value that is available for investment. ( 7 ) Why does the increase in social consumption not have an effective demand effect, as in Keynesian economics? The ans ...
... do not create surplus value but instead use it for various purposes are forms of social consumption and will lower the fraction of surplus value that is available for investment. ( 7 ) Why does the increase in social consumption not have an effective demand effect, as in Keynesian economics? The ans ...
A Reassessment of Industrialization in South America: Argentina
... catch up between the late nineteenth century and the late 1970s (Bénétrix, et al., 2012, Williamson, 2006). The largest economies in the region had rapid catch up before 1920, in the 1930s, and then Brazil and Colombia had very rapid and sustained catch up with the global leaders between 1940 and 19 ...
... catch up between the late nineteenth century and the late 1970s (Bénétrix, et al., 2012, Williamson, 2006). The largest economies in the region had rapid catch up before 1920, in the 1930s, and then Brazil and Colombia had very rapid and sustained catch up with the global leaders between 1940 and 19 ...
FRBSF E L
... Recessions are notoriously difficult to forecast. However, much conventional wisdom views an aging expansion as increasingly fragile and more likely to end in recession. The associated predictions of recession—proclaiming that “it’s about time” for a downturn—have become more prominent lately becaus ...
... Recessions are notoriously difficult to forecast. However, much conventional wisdom views an aging expansion as increasingly fragile and more likely to end in recession. The associated predictions of recession—proclaiming that “it’s about time” for a downturn—have become more prominent lately becaus ...
Mankiw 6e PowerPoints
... 1. Equalize tax treatment of all types of capital in all industries, then let the market allocate investment to the type with the highest marginal product. 2. Industrial policy: Govt should actively encourage investment in capital of certain types or in certain industries, because they may have posi ...
... 1. Equalize tax treatment of all types of capital in all industries, then let the market allocate investment to the type with the highest marginal product. 2. Industrial policy: Govt should actively encourage investment in capital of certain types or in certain industries, because they may have posi ...
exports and economic growth in nigeria
... growth may be a prerequisite to extend its exports (Chow( 1987), Moschos (1989)), due to the fact that economic growth may help achieve efficient allocation of resources according to comparative cost advantage and realization of economies of scale which lower the cost of exportable which make export ...
... growth may be a prerequisite to extend its exports (Chow( 1987), Moschos (1989)), due to the fact that economic growth may help achieve efficient allocation of resources according to comparative cost advantage and realization of economies of scale which lower the cost of exportable which make export ...
0455 economics - Cambridge International Examinations
... secure basis for economic activity (1) • use taxes/regulations to reduce negative externalities (1), such as pollution and congestion/improving the economic environment (1) • use regulations/legislation to control monopoly where this is against the public interest (1), e.g. demonstrated by higher pr ...
... secure basis for economic activity (1) • use taxes/regulations to reduce negative externalities (1), such as pollution and congestion/improving the economic environment (1) • use regulations/legislation to control monopoly where this is against the public interest (1), e.g. demonstrated by higher pr ...
research paper series Cumulative Causation, Capital Mobility and the Welfare State
... as leading to a shrinking tax base and to pressures to shift the burden of taxation on to less mobile factors such as labour, as governments compete with each other to attract/retain international investment. Real world evidence, however, is somewhat at odds with the normative implications of this c ...
... as leading to a shrinking tax base and to pressures to shift the burden of taxation on to less mobile factors such as labour, as governments compete with each other to attract/retain international investment. Real world evidence, however, is somewhat at odds with the normative implications of this c ...
An Introduction to Macroeconomics
... income in 70 years will be $40,000. And 35 years after that, the average citizen’s income will double again to $80,000. Such high rates of growth are amazing when compared to the period before modern economic growth when standards of living remained unchanged century after century. The vast differen ...
... income in 70 years will be $40,000. And 35 years after that, the average citizen’s income will double again to $80,000. Such high rates of growth are amazing when compared to the period before modern economic growth when standards of living remained unchanged century after century. The vast differen ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER Macroeconomics Annual 2010,
... that it is not obvious that the frequency of power turnover is key because he thought it would be easy to develop models in which the turnover effect could go either way. He argued that the relevant political frictions have to do with the constraints that are imposed on governments. The different ri ...
... that it is not obvious that the frequency of power turnover is key because he thought it would be easy to develop models in which the turnover effect could go either way. He argued that the relevant political frictions have to do with the constraints that are imposed on governments. The different ri ...
The Global Crisis and the Turkish Economy
... channels through which the global crisis affected the Turkish economy. Among these channels, we consider trade, capital movements, external and internal financing, and business expectations. For such an assessment, we first need to establish the depth of the recession. In the first quarter of 2009, ...
... channels through which the global crisis affected the Turkish economy. Among these channels, we consider trade, capital movements, external and internal financing, and business expectations. For such an assessment, we first need to establish the depth of the recession. In the first quarter of 2009, ...
MICHIGAN ECONOMIC UPDATE Office of Revenue and Tax Analysis
... housing starts fell to a new record low – breaking the previous record low set just last month. The threemonth average of capacity utilization fell sharply compared to a year ago (-5.6 percentage points) as industrial production plummeted (-5.4 percent). Core durable goods orders (three month averag ...
... housing starts fell to a new record low – breaking the previous record low set just last month. The threemonth average of capacity utilization fell sharply compared to a year ago (-5.6 percentage points) as industrial production plummeted (-5.4 percent). Core durable goods orders (three month averag ...
Equilibrium unemployment
... ► European labor markets ► Competition and harmonization in Europe (a Level Playing Field) ...
... ► European labor markets ► Competition and harmonization in Europe (a Level Playing Field) ...
Abstract - African Development Bank
... Macroeconomic volatility has varied impacts on growth and business cycles and such impact is particularly detrimental in developing countries (Loayza and Raddatz 2007). Some of the more studied causes of macroeconomic volatility include fluctuations in terms of trade which are estimated to account f ...
... Macroeconomic volatility has varied impacts on growth and business cycles and such impact is particularly detrimental in developing countries (Loayza and Raddatz 2007). Some of the more studied causes of macroeconomic volatility include fluctuations in terms of trade which are estimated to account f ...
REGIONAL CONVERGENCE IN ASEAN
... adjustments towards a long run equilibrium level of per capita income (Bernard & Durlauf, 1996). Absolute convergence is said to pertain when all the economies converge regardless of economy specific factor which are economic policies, investment rate, composition of output and others. This means th ...
... adjustments towards a long run equilibrium level of per capita income (Bernard & Durlauf, 1996). Absolute convergence is said to pertain when all the economies converge regardless of economy specific factor which are economic policies, investment rate, composition of output and others. This means th ...
Parkin-Bade Chapter 21
... Employment and Unemployment What kind of job market will you enter when you graduate? Those leaving the university in 2010 had a tough time: In May 2009, the number of people in the UK who wanted a job but couldn’t find one past the 2.4 million mark. Usually, unemployment is less than half that num ...
... Employment and Unemployment What kind of job market will you enter when you graduate? Those leaving the university in 2010 had a tough time: In May 2009, the number of people in the UK who wanted a job but couldn’t find one past the 2.4 million mark. Usually, unemployment is less than half that num ...
Corporate Insights The upside of negative rates: Opportunities for
... rates serve to lower discount rates on securities, driving down LQYHVWPHQWKXUGOHUDWHV ZLWKFKHDSHUƟQDQFLQJFRPSDQLHVFDQ be expected to increase investment, which should stimulate economic growth while at the same time driving up asset prices. As Exhibit 1 shows, 10-year government bond yields ...
... rates serve to lower discount rates on securities, driving down LQYHVWPHQWKXUGOHUDWHV ZLWKFKHDSHUƟQDQFLQJFRPSDQLHVFDQ be expected to increase investment, which should stimulate economic growth while at the same time driving up asset prices. As Exhibit 1 shows, 10-year government bond yields ...
Accounting for economic growth in the Netherlands since
... machinery and equipment has accelerated again. Table 5 shows that the movement of the capital-output ratios has n o t been constant during this period (see also diagram 2). For the period as a whole it rose a t 0.5 per cent a year. It declined during the period of rapid growth from 1 9 13 t o 1929, ...
... machinery and equipment has accelerated again. Table 5 shows that the movement of the capital-output ratios has n o t been constant during this period (see also diagram 2). For the period as a whole it rose a t 0.5 per cent a year. It declined during the period of rapid growth from 1 9 13 t o 1929, ...
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).