Chapter 10
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
2. Medium term economic policy
... efficiency and functioning of the market economy. The restructuring of the Lithuanian energy and transport infrastructure and its integration into relevant European infrastructures is an essential prerequisite for the stability of Lithuanian’s economic growth. The Government intends to restructure t ...
... efficiency and functioning of the market economy. The restructuring of the Lithuanian energy and transport infrastructure and its integration into relevant European infrastructures is an essential prerequisite for the stability of Lithuanian’s economic growth. The Government intends to restructure t ...
A 5000 WORD SUMMARY - Jorgen Randers
... The 2052 forecast is the sum of individual forecasts I made for five regions. The regions are 1) the US, 2) the rest of the industrialised world, 3) China, 4) the 14 largest emerging economies, and 5) the rest of the world (some 140 countries). The forecast is based on the general world view represe ...
... The 2052 forecast is the sum of individual forecasts I made for five regions. The regions are 1) the US, 2) the rest of the industrialised world, 3) China, 4) the 14 largest emerging economies, and 5) the rest of the world (some 140 countries). The forecast is based on the general world view represe ...
Inflation October 18
... in the first half of the 1990s, but also when compared with much of the 1970s and 1980s. Economic growth, as measured by average annual changes in real GDP, was 4.4 percent in the 1960s. Average rates of growth decreased during the 1970s (3.3%), the 1980s (3.0%), and the first half of the 1990s (2.2 ...
... in the first half of the 1990s, but also when compared with much of the 1970s and 1980s. Economic growth, as measured by average annual changes in real GDP, was 4.4 percent in the 1960s. Average rates of growth decreased during the 1970s (3.3%), the 1980s (3.0%), and the first half of the 1990s (2.2 ...
The "Iberian Tigers" versus The "Celtic Tiger":
... technological progress, which is often linked with the competitive environment. Nevertheless, some theses point out that industrial conditioning might have had an important role in markets where excessive entry occurred, possibly promoting mergers and acquisitions. Authors who promote this view also ...
... technological progress, which is often linked with the competitive environment. Nevertheless, some theses point out that industrial conditioning might have had an important role in markets where excessive entry occurred, possibly promoting mergers and acquisitions. Authors who promote this view also ...
Supplementary Notes on The Heckscher
... Qualifications to FPE (i) Non-Existence: (More specifically: non-existence of a fully diversified equilibrium) Taken literally, the theorem suggests that, under free trade, countries with very different factor endowments (e.g., U.S. and India) would have the same factor prices BUT It requires that ...
... Qualifications to FPE (i) Non-Existence: (More specifically: non-existence of a fully diversified equilibrium) Taken literally, the theorem suggests that, under free trade, countries with very different factor endowments (e.g., U.S. and India) would have the same factor prices BUT It requires that ...
9.3 theories of economic growth
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
Does a European Social Model Exist and Can It Survive?
... unemployment funds have gained in membership during the last decades, while most other countries lost members, in particular, most dramatically France and the UK, followed by Italy and Ireland, but also more gradually the Netherlands and Austria. Instead of convergence, we find persistent — if not g ...
... unemployment funds have gained in membership during the last decades, while most other countries lost members, in particular, most dramatically France and the UK, followed by Italy and Ireland, but also more gradually the Netherlands and Austria. Instead of convergence, we find persistent — if not g ...
Finance-dominated capitalism in Germany
... fiscal policy packages, the successful containment of financial stress within a few large institutions, with the rest of the credit system still functioning well and stable consumption demand, due to labour market institutions, all coincided to keep unemployment low during the crisis. In particular, ...
... fiscal policy packages, the successful containment of financial stress within a few large institutions, with the rest of the credit system still functioning well and stable consumption demand, due to labour market institutions, all coincided to keep unemployment low during the crisis. In particular, ...
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... Therefore, if initially the unemployment rate is lower than the equilibrium rate, workers will tend to demand wages that are higher than what firms are willing to pay for labour. Firms will stop hiring and start firing, and unemployment will tend to rise until it is again equal to the equilibrium ra ...
... Therefore, if initially the unemployment rate is lower than the equilibrium rate, workers will tend to demand wages that are higher than what firms are willing to pay for labour. Firms will stop hiring and start firing, and unemployment will tend to rise until it is again equal to the equilibrium ra ...
Controlling the risks of a global economy : Germany`s role
... Union, and particularly in the Euro zone. Germany’s role in the global economy essentially depends on the developments in other countries and regions, and is thus exposed to a series of risks. However, the bottom line is that Germany’s economy has benefited from this development. Inasmuch as Germany ...
... Union, and particularly in the Euro zone. Germany’s role in the global economy essentially depends on the developments in other countries and regions, and is thus exposed to a series of risks. However, the bottom line is that Germany’s economy has benefited from this development. Inasmuch as Germany ...
Abstract - Brad DeLong`s Website
... were only 70 percent as productive as their predecessors back in the early 1970s would have expected them to be. The productivity slowdown gave rise to an age of diminished expectations that had powerful although still debated effects on American politics and society.2 In the second half of the 1990 ...
... were only 70 percent as productive as their predecessors back in the early 1970s would have expected them to be. The productivity slowdown gave rise to an age of diminished expectations that had powerful although still debated effects on American politics and society.2 In the second half of the 1990 ...
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).