Economic Modelling (Post Graduate)
... Write down the reduced form of the model that you have specified above. Consider whether you will be able to retrieve the structural coefficients of the above model if you have estimates on the reduced form coefficients. Check the rank and order conditions of identification. ...
... Write down the reduced form of the model that you have specified above. Consider whether you will be able to retrieve the structural coefficients of the above model if you have estimates on the reduced form coefficients. Check the rank and order conditions of identification. ...
The Stages of Economic Growth Revisited
... We classify countries as being in Stage 2: Catching up to the economic leader if their per capita income is above 35 percent that of the economic leader for at least 15 consecutive years, something that was accomplished by Mexico at the end of the 19th century and beginning of the 20th century and l ...
... We classify countries as being in Stage 2: Catching up to the economic leader if their per capita income is above 35 percent that of the economic leader for at least 15 consecutive years, something that was accomplished by Mexico at the end of the 19th century and beginning of the 20th century and l ...
Complete Syllabus Macroeconomics (12th Grade)
... economic growth and recession. According to the Center for International Business Cycle Research at Columbia University, between 1854 and 1945 the average expansion lasted 29 months and the average contraction 21 months. Since the second world war, however, expansions have lasted almost twice as lon ...
... economic growth and recession. According to the Center for International Business Cycle Research at Columbia University, between 1854 and 1945 the average expansion lasted 29 months and the average contraction 21 months. Since the second world war, however, expansions have lasted almost twice as lon ...
WHAT ROLE WITHIN THE EU FRAMEWORK DOES THE QUALITY
... The Lisbon strategy has highlighted the strategic importance for improving both the sustainability of public finances and their quality. However, while the EU fiscal framework lays down the principles and procedures for achieving fiscal sustainability, the principles for improving the quality of pub ...
... The Lisbon strategy has highlighted the strategic importance for improving both the sustainability of public finances and their quality. However, while the EU fiscal framework lays down the principles and procedures for achieving fiscal sustainability, the principles for improving the quality of pub ...
Growth Theories
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
NBER WORKING PAPER SERIES Raphael Bergoeing
... deteriorations in the terms of trade and the increases in foreign interest rates that buffeted Chile and Mexico in the early 1980s can cause a decline in economic activity of the usual business cycle magnitude. Government policy, however, can turn such a decline into the severe and prolonged drop in ...
... deteriorations in the terms of trade and the increases in foreign interest rates that buffeted Chile and Mexico in the early 1980s can cause a decline in economic activity of the usual business cycle magnitude. Government policy, however, can turn such a decline into the severe and prolonged drop in ...
Long-Run Growth
... society’s scarce resources are fully and efficiently employed. Economic growth expands society’s production possibilities, shifting the ppf up and to the right. ...
... society’s scarce resources are fully and efficiently employed. Economic growth expands society’s production possibilities, shifting the ppf up and to the right. ...
MicroFinance A Good Strategy for the Economy of Latin America
... financing around nine million microenterprises, with an outstanding loan portfolio of 9.2 billion dollars, ...
... financing around nine million microenterprises, with an outstanding loan portfolio of 9.2 billion dollars, ...
The French Economy, European Authorities, and the IMF: “Structural
... Among the political objections to any program that would help reduce mass unemployment in France is that the French public debt is too high, and therefore reducing the public sector budget deficit must come first. Table 1 contains the projections for France’s gross and net debt, as a percentage of G ...
... Among the political objections to any program that would help reduce mass unemployment in France is that the French public debt is too high, and therefore reducing the public sector budget deficit must come first. Table 1 contains the projections for France’s gross and net debt, as a percentage of G ...
FRBSF E L
... In standard economic theory, the natural interest rate—that is, the short-term real interest rate at which the economy would stay at full employment—is related positively to the growth rate of potential output. Higher potential growth can affect the real interest rate via two key channels. First, it ...
... In standard economic theory, the natural interest rate—that is, the short-term real interest rate at which the economy would stay at full employment—is related positively to the growth rate of potential output. Higher potential growth can affect the real interest rate via two key channels. First, it ...
Review Packet
... law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one product. Shifts in this curve can be caused by increases in resource supplies or advances in technology. Also, if an economy favors “future goods” (technology, etc), the curv ...
... law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one product. Shifts in this curve can be caused by increases in resource supplies or advances in technology. Also, if an economy favors “future goods” (technology, etc), the curv ...
THE AGRICULTURAL EXPORT-GROWTH NEXUS IN THE EU-27
... integration. In the old Member States the sector is facing the Mid Term Review while the Eastern Countries are adapting themselves to the market rules and regulations. The process is taking place in an environment that is witnessing the most remarkable institutional harmonization and economic integr ...
... integration. In the old Member States the sector is facing the Mid Term Review while the Eastern Countries are adapting themselves to the market rules and regulations. The process is taking place in an environment that is witnessing the most remarkable institutional harmonization and economic integr ...
The Global Financial Crisis: Impact on Asia and Policy Challenges Ahead
... that business cycles in the key economies in Asia have been increasingly driven by common rather than idiosyncratic shocks. Based on a data set of 10 Asian economies excluding Japan, we find that most countries in the sample experienced a decline in the variability of the idiosyncratic component rel ...
... that business cycles in the key economies in Asia have been increasingly driven by common rather than idiosyncratic shocks. Based on a data set of 10 Asian economies excluding Japan, we find that most countries in the sample experienced a decline in the variability of the idiosyncratic component rel ...
Rank these 4 countries, richest to poorest
... 3. Poor nations grow slowly because they do not have access to modern technology. 4. A favorable institutional environment will tend to attract more investment in human and physical capital. ...
... 3. Poor nations grow slowly because they do not have access to modern technology. 4. A favorable institutional environment will tend to attract more investment in human and physical capital. ...
Ready for Revolution? The English Economy before c. 1800
... this period, GDP grew about ten times as fast as GDP per head. Note that from the early seventeenth century on, GDP per head was higher in each period than in the previous period: growth he ...
... this period, GDP grew about ten times as fast as GDP per head. Note that from the early seventeenth century on, GDP per head was higher in each period than in the previous period: growth he ...
Growth Theories
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
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).