Box B: Investment and the Productive Capacity of the Economy
... the rate at which they lose value.2 On this measure, the annual growth rate of the capital stock trended down from 6¾ per cent during the 1960s to average 3¾ per cent during the 1980s and then to around 2¼ per cent over the 1990s (Graph B4). To put this in perspective, in the 1990s the growth rate o ...
... the rate at which they lose value.2 On this measure, the annual growth rate of the capital stock trended down from 6¾ per cent during the 1960s to average 3¾ per cent during the 1980s and then to around 2¼ per cent over the 1990s (Graph B4). To put this in perspective, in the 1990s the growth rate o ...
NBER WORKING PAPER SERIES ENERGY AND RESOURCE ALLOCATION: A DYNAMIC
... It is well known that a domestic resource discovery gives rise to wealth effects that cause a squeeze of the tradeable good sector of an open economy. ...
... It is well known that a domestic resource discovery gives rise to wealth effects that cause a squeeze of the tradeable good sector of an open economy. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... pipeline company revenue explains some of the discrepancy between the BEA and BLS measures, and so on. The chapter would be stronger if it contained more of this concrete information. Importantly, though, when the authors narrow their BEA and BLS comparisons to detailed industry output data, they fi ...
... pipeline company revenue explains some of the discrepancy between the BEA and BLS measures, and so on. The chapter would be stronger if it contained more of this concrete information. Importantly, though, when the authors narrow their BEA and BLS comparisons to detailed industry output data, they fi ...
Business Cycle
... barriers), capital investment (especially when triggered by new technology or interest-rate changes), and household consumption (especially when affected by changes in consumer confidence and expectations about the future state of the macroeconomy). While a number of events could, in theory, cause b ...
... barriers), capital investment (especially when triggered by new technology or interest-rate changes), and household consumption (especially when affected by changes in consumer confidence and expectations about the future state of the macroeconomy). While a number of events could, in theory, cause b ...
Land
... 1. According to the video what is economics? 2. According to the video what is Opportunity coast? 3. According to the video what is Scarcity? 4. According to the video what is Incentives? 5. According to the video what is Macroeconomics? 6. According to the video what is Microeconomics? ...
... 1. According to the video what is economics? 2. According to the video what is Opportunity coast? 3. According to the video what is Scarcity? 4. According to the video what is Incentives? 5. According to the video what is Macroeconomics? 6. According to the video what is Microeconomics? ...
Discussion of AMP - the Advanced Manufacturing
... Recent work – “The Race Against the Machine,” for example is telling us that multiplying productivity gains from IT are displacing work as we know it. ...
... Recent work – “The Race Against the Machine,” for example is telling us that multiplying productivity gains from IT are displacing work as we know it. ...
Secular Stagnation on the Supply Side
... innumerable clerks to operate the keyboards of electric typewriters that had no ability to download content from the rest of the world. Memory typewriters were just being introduced, so in 1970 there was still repetitive retyping. Starting from this world of 1970, by the year 2000 every office was e ...
... innumerable clerks to operate the keyboards of electric typewriters that had no ability to download content from the rest of the world. Memory typewriters were just being introduced, so in 1970 there was still repetitive retyping. Starting from this world of 1970, by the year 2000 every office was e ...
339999.drezgic_mikelbank
... especially, in the short term. Of course, his efforts were product of economic conditions of that time with high unemployment and worsening macroeconomic indicators. There was a constant shortage of aggregate demand, so he had to introduce some measures to raise it – the only subject able to do that ...
... especially, in the short term. Of course, his efforts were product of economic conditions of that time with high unemployment and worsening macroeconomic indicators. There was a constant shortage of aggregate demand, so he had to introduce some measures to raise it – the only subject able to do that ...
Unemployment and the "dual labor market"
... process and of the demands for equity at the work place discourage the type of competition among workers upon which competitive pay adjustments are predicated. Similarly, the job structure within enterprises is relatively unresponsive_ to changes in wages or productivity, not because employers fail ...
... process and of the demands for equity at the work place discourage the type of competition among workers upon which competitive pay adjustments are predicated. Similarly, the job structure within enterprises is relatively unresponsive_ to changes in wages or productivity, not because employers fail ...
Impact of Business Cycles on SA Economy
... The first person to theorise about the existence of business cycles was Karl Marx. He did not, however, use the term himself. Business cycles were not a recognised phenomenon during Marx’s life. He theorised, however, that the accumulation of labour-replacing capital would cause fluctuations in the ...
... The first person to theorise about the existence of business cycles was Karl Marx. He did not, however, use the term himself. Business cycles were not a recognised phenomenon during Marx’s life. He theorised, however, that the accumulation of labour-replacing capital would cause fluctuations in the ...
ch7&8 (Part II)
... countries would shrink over time, and living standards “converge.” In real world, many poor countries do NOT grow faster than rich ones. That is, absolute (or unconditional) convergence is not generally observed. Does this mean the Solow model fails? ...
... countries would shrink over time, and living standards “converge.” In real world, many poor countries do NOT grow faster than rich ones. That is, absolute (or unconditional) convergence is not generally observed. Does this mean the Solow model fails? ...
AD and AS - uwcmaastricht-econ
... taxation are subject to numerous pressures that are unrelated to fiscal policy considerations. Spending in public and merit goods is undertaken for its own sake and cannot easily be cut. Taxes are politically unpopular and might be avoided even though they might be necessary. ...
... taxation are subject to numerous pressures that are unrelated to fiscal policy considerations. Spending in public and merit goods is undertaken for its own sake and cannot easily be cut. Taxes are politically unpopular and might be avoided even though they might be necessary. ...
Economic Growth
... Modern Growth Theory Real GDP per person grows because technological change induces a level of saving and investment that makes capital per hour of labor grow. Growth ends only if technological change and/or incentives for technological change stops. ...
... Modern Growth Theory Real GDP per person grows because technological change induces a level of saving and investment that makes capital per hour of labor grow. Growth ends only if technological change and/or incentives for technological change stops. ...
Agglomeration and economic development: Import substitution vs
... possibility that industry concentrates in one country, and established the dependence of the equilibrium on transport costs. Here we use the framework to study two issues which we think illuminate the process of economic development. The first is to consider the spatial implications of growth inn wo ...
... possibility that industry concentrates in one country, and established the dependence of the equilibrium on transport costs. Here we use the framework to study two issues which we think illuminate the process of economic development. The first is to consider the spatial implications of growth inn wo ...
II Perspectives on the Economy and Demographics
... impact of these changes is that, while the average pay (in inflation-adjusted terms) of the newly created jobs may not be all that different from those lost during the recession, the distribution of pay levels has widened. That is, there are relatively more jobs now at both the high end and low end ...
... impact of these changes is that, while the average pay (in inflation-adjusted terms) of the newly created jobs may not be all that different from those lost during the recession, the distribution of pay levels has widened. That is, there are relatively more jobs now at both the high end and low end ...
A : Abstract
... to be targeted at generating employment (through training or by reducing labour market rigidities that prevent firms from hiring or by reducing search costs) rather than providing unemployment insurance, the government could not only generate a higher level of economic growth, compared to the unempl ...
... to be targeted at generating employment (through training or by reducing labour market rigidities that prevent firms from hiring or by reducing search costs) rather than providing unemployment insurance, the government could not only generate a higher level of economic growth, compared to the unempl ...
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).