ON THE NEED FOR REGULATING TECHNOLOGICAL CHANGE Prabhat Patnaik
... If growth per se is not the panacea for eliminating involuntary unemployment, then what can be done about it? Growth to be sure has to be there, but in addition one can think of two kinds of measures that must supplement growth. The first is a control over the pace of technological change, which req ...
... If growth per se is not the panacea for eliminating involuntary unemployment, then what can be done about it? Growth to be sure has to be there, but in addition one can think of two kinds of measures that must supplement growth. The first is a control over the pace of technological change, which req ...
President’s Report Board Directors
... Housing starts and permits, however, both decreased. In the manufacturing sector, the ISM index eased a bit and growth in industrial production slowed in July, but capacity utilization reached a nine month high. Business investment rebounded in July, as durable goods orders posted their largest gain ...
... Housing starts and permits, however, both decreased. In the manufacturing sector, the ISM index eased a bit and growth in industrial production slowed in July, but capacity utilization reached a nine month high. Business investment rebounded in July, as durable goods orders posted their largest gain ...
Thaksinomics: A New Asian Paradigm; Looney, Robert
... traditional products. The project's role is to assist the communities in modernizing the production and distribution process of these products so that they can be competitive at the national and international levels. The government's role is to identify candidate products and then to assist their de ...
... traditional products. The project's role is to assist the communities in modernizing the production and distribution process of these products so that they can be competitive at the national and international levels. The government's role is to identify candidate products and then to assist their de ...
Barry P. Bosworth CRR WP 2015-8 Submitted: October 2014
... quantitative restrictions on bank lending and led to excessive flows of funds into real estate and equity markets. The resulting rise in asset prices touched off booms in each country that ultimately ended in busts. Changing domestic and external circumstances forced the central banks to raise inter ...
... quantitative restrictions on bank lending and led to excessive flows of funds into real estate and equity markets. The resulting rise in asset prices touched off booms in each country that ultimately ended in busts. Changing domestic and external circumstances forced the central banks to raise inter ...
Figures and Comments - Federal Reserve Bank of Boston
... and gradual tightening in labor markets ▶ Such a path would justify a continued, gradual removal of monetary policy accommodation ▶ In my view, removing accommodation at least as quickly as suggested by the median SEP, and possibly even a bit more rapidly than that forecast ▶ Both international cond ...
... and gradual tightening in labor markets ▶ Such a path would justify a continued, gradual removal of monetary policy accommodation ▶ In my view, removing accommodation at least as quickly as suggested by the median SEP, and possibly even a bit more rapidly than that forecast ▶ Both international cond ...
Outlook of Bangladesh Economy in the “Double
... Bangladesh is located in the tropics in South Asia and has a total area of 147,570 sq. km. It shares its borders with India on the west and north and Myanmar on the east. On the south, 66,400 kilometers of coastline merge into the Bay of Bengal. The country of Bangladesh is most known internationall ...
... Bangladesh is located in the tropics in South Asia and has a total area of 147,570 sq. km. It shares its borders with India on the west and north and Myanmar on the east. On the south, 66,400 kilometers of coastline merge into the Bay of Bengal. The country of Bangladesh is most known internationall ...
part ii concepts and problems
... Macroeconomics focuses on the determinants of total national income, deals with aggregates such as aggregate consumption and investment, and looks at the overall level of prices instead of individual prices. ...
... Macroeconomics focuses on the determinants of total national income, deals with aggregates such as aggregate consumption and investment, and looks at the overall level of prices instead of individual prices. ...
THE NON OBSERVED THE NON-OBSERVED ECONOMY (NOE): Current Practice in Mongolia
... • By survey, in 2010, 13.2 percent of GDP comes from NOE. • In GDP by the production approach: — Result was distributed to the related sectors • In GDP by the expenditure approach: — Integrated into HH expenditure of final consumption — Part of HHs own final use was integrated as GCF (construction) ...
... • By survey, in 2010, 13.2 percent of GDP comes from NOE. • In GDP by the production approach: — Result was distributed to the related sectors • In GDP by the expenditure approach: — Integrated into HH expenditure of final consumption — Part of HHs own final use was integrated as GCF (construction) ...
President’s Report Board Directors
... incomes that haven't grown over the past few months. Total auto sales increased a bit in June, but were lower overall in the second quarter compared to the first. The housing market displayed mixed signs in May. New home sales increased for a third consecutive month, but sales of existing homes slow ...
... incomes that haven't grown over the past few months. Total auto sales increased a bit in June, but were lower overall in the second quarter compared to the first. The housing market displayed mixed signs in May. New home sales increased for a third consecutive month, but sales of existing homes slow ...
New Structural Economics
... – Britain targeted the Netherlands’ industries in the 16th and 17th century, its per capita GDP was about 70 % of Netherlands’. – Germany, France, and USA targeted Britain’s industries in the late 19th century, their per capita income were about 60 to 75 % of Britain’s per capita GDP – In Meiji rest ...
... – Britain targeted the Netherlands’ industries in the 16th and 17th century, its per capita GDP was about 70 % of Netherlands’. – Germany, France, and USA targeted Britain’s industries in the late 19th century, their per capita income were about 60 to 75 % of Britain’s per capita GDP – In Meiji rest ...
Philippines
... Consumer spending rose 3.4% y/y in 2Q08. Exports rose 7.7% y/y, with agricultural production climbing 4.9% y/y. The main drivers of the economy are domestic demand and electronic and agricultural exports. However, exports are likely to be hurt by a sharper slowdown in the G7 economies in 2H08, while ...
... Consumer spending rose 3.4% y/y in 2Q08. Exports rose 7.7% y/y, with agricultural production climbing 4.9% y/y. The main drivers of the economy are domestic demand and electronic and agricultural exports. However, exports are likely to be hurt by a sharper slowdown in the G7 economies in 2H08, while ...
The AD-AS Model
... suggests that an economy will NOT automatically self-correct when in a recessionary or inflationary gap. Indeed, a long and deep recession with very high unemployment is very possible. Keynesians conclude that modern industrial market economies are inherently unstable. Stability at full employment c ...
... suggests that an economy will NOT automatically self-correct when in a recessionary or inflationary gap. Indeed, a long and deep recession with very high unemployment is very possible. Keynesians conclude that modern industrial market economies are inherently unstable. Stability at full employment c ...
Macroeconomics, 6e (Blanchard/Johnson) Chapter 1: A Tour of the
... 8) In addition to capital accumulation and technological progress, what are some of the other possible explanations for recent output growth in China? Answer: There are several additional potential causes of economic growth in China. These are: (1) the transition from central planning to a market ec ...
... 8) In addition to capital accumulation and technological progress, what are some of the other possible explanations for recent output growth in China? Answer: There are several additional potential causes of economic growth in China. These are: (1) the transition from central planning to a market ec ...
FRBSF E L CONOMIC ETTER
... more of their assets into real estate (see Marquis 2003). This portfolio rotation effect has contributed to the strength of the residential housing market. House price appreciation in recent years has been nearly double the growth rate of per capita disposable income. In some geographic areas, the r ...
... more of their assets into real estate (see Marquis 2003). This portfolio rotation effect has contributed to the strength of the residential housing market. House price appreciation in recent years has been nearly double the growth rate of per capita disposable income. In some geographic areas, the r ...
Unit 8
... during a period of one year. Graphically it is shown by an outward shift of the country’s production possibilities curve. It is caused by increased productive capabilities that are made possible by either an increase in inputs (production factors) such as labour, capital or technological innovations ...
... during a period of one year. Graphically it is shown by an outward shift of the country’s production possibilities curve. It is caused by increased productive capabilities that are made possible by either an increase in inputs (production factors) such as labour, capital or technological innovations ...
CH 25 Homework Answer KEY
... elements into its different components. Primarily increases in work hours and increases in labor productivity (these components me decrease as well). The U.S. labor force grew by an average of about 1.7 million workers per year for the past 52 years, and this explains some of the growth in real GDP. ...
... elements into its different components. Primarily increases in work hours and increases in labor productivity (these components me decrease as well). The U.S. labor force grew by an average of about 1.7 million workers per year for the past 52 years, and this explains some of the growth in real GDP. ...
Economic Growth in Egypt: Constraints and
... • - "binding constraints bind because they are politically difficult or impossible to remove, so it is less useful to identify them" - even if the first part of this statement is true, it is still possible to think about politically feasible ways to shift the constraint out somewhat if not removing ...
... • - "binding constraints bind because they are politically difficult or impossible to remove, so it is less useful to identify them" - even if the first part of this statement is true, it is still possible to think about politically feasible ways to shift the constraint out somewhat if not removing ...
Chap006 - Zietlow, John
... Cyclical Unemployment • Cyclical unemployment: The unemployment attributable to the lack of job vacancies, that is, to an inadequate level of aggregate demand • Not enough jobs to go around due to inadequate demand for goods and services ...
... Cyclical Unemployment • Cyclical unemployment: The unemployment attributable to the lack of job vacancies, that is, to an inadequate level of aggregate demand • Not enough jobs to go around due to inadequate demand for goods and services ...
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).