Expansionary Effects of the Welfare State in a Small Open Economy
... between welfare state and globalisation which, despite its colossal policy importance, is still fairly unexplored at the theoretical level. In the last two decades, welfare state policies have come increasingly under attack by an emerging consensus that sees them as being inimical to economic growth ...
... between welfare state and globalisation which, despite its colossal policy importance, is still fairly unexplored at the theoretical level. In the last two decades, welfare state policies have come increasingly under attack by an emerging consensus that sees them as being inimical to economic growth ...
1 Box 2 Measuring the output potential of the economy
... where Ht is the participation ratio, Lt is the number of individuals of working age (15-64) and ut is the unemployment rate. Actual data for the participation rate and working age population are generally used, since both series are quite smooth.2 An attempt is then made to measure the underlying u ...
... where Ht is the participation ratio, Lt is the number of individuals of working age (15-64) and ut is the unemployment rate. Actual data for the participation rate and working age population are generally used, since both series are quite smooth.2 An attempt is then made to measure the underlying u ...
PDF
... implications of global financial crisis for the agricultural sector of India. Of course while reporting on these papers one should keep in mind at the outset that production cycle of agricultural sector is of long duration and therefore the effect of an event, howsoever important, may not be so visi ...
... implications of global financial crisis for the agricultural sector of India. Of course while reporting on these papers one should keep in mind at the outset that production cycle of agricultural sector is of long duration and therefore the effect of an event, howsoever important, may not be so visi ...
Government Expenditure Composition and Growth in Chile
... the Chilean Economy. We also want to test the effects of larger social security payments if the pension system is actually reformed as the current administration promised. Total public spending as a share of GDP has evolved through time and across regions with little or no relationship with growth r ...
... the Chilean Economy. We also want to test the effects of larger social security payments if the pension system is actually reformed as the current administration promised. Total public spending as a share of GDP has evolved through time and across regions with little or no relationship with growth r ...
Preview Sample 2
... determine labor productivity: The quantity of capital per hour worked and the level of technology. Capital refers to manufactured goods that are used to produce other goods and services. The total amount of physical capital (such as computers, factory buildings, and trucks) available in a country is ...
... determine labor productivity: The quantity of capital per hour worked and the level of technology. Capital refers to manufactured goods that are used to produce other goods and services. The total amount of physical capital (such as computers, factory buildings, and trucks) available in a country is ...
Unemployment
... • In the case of a low paid worker loosing their job the replacement ratio is one factor influencing time spent searching for a new job. Replacement Ratio = disposable income out of work disposable income in work • High level of benefits disincentives employment • Ratio of 1 means receive same on be ...
... • In the case of a low paid worker loosing their job the replacement ratio is one factor influencing time spent searching for a new job. Replacement Ratio = disposable income out of work disposable income in work • High level of benefits disincentives employment • Ratio of 1 means receive same on be ...
Principles of Macroeconomics, Case/Fair/Oster, 11e
... 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. ...
... 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. ...
This PDF is a selection from a published volume
... the nature and the sources of the decline in cyclical volatility. They show that not only has there been a decline in the variability of GDP growth, but that the decline has been across the board: The major components of GDP and the major sectors of the economy have all experienced a drop in volatil ...
... the nature and the sources of the decline in cyclical volatility. They show that not only has there been a decline in the variability of GDP growth, but that the decline has been across the board: The major components of GDP and the major sectors of the economy have all experienced a drop in volatil ...
EconoMIc InsIGht MIDDLE EAST Quarterly briefing December 2011
... Growth across the Middle East is expected to fall back in 2012, after an exceptionally strong performance in 2011. With high oil prices and a large expansion in production across the GCC, the increase in economic activity in 2007 in these six states has been the strongest since 2005, at 7.2%. This c ...
... Growth across the Middle East is expected to fall back in 2012, after an exceptionally strong performance in 2011. With high oil prices and a large expansion in production across the GCC, the increase in economic activity in 2007 in these six states has been the strongest since 2005, at 7.2%. This c ...
Economic Development: Essay Outlines by Students Independent
... by creating a competitive and efficient economy for successful EOI to take place. This can only be achieved with the decline of state intervention in terms of inefficient state corporations and excessive intervention would prove to be a disincentive for foreign investments. Singapore: Government int ...
... by creating a competitive and efficient economy for successful EOI to take place. This can only be achieved with the decline of state intervention in terms of inefficient state corporations and excessive intervention would prove to be a disincentive for foreign investments. Singapore: Government int ...
An evaluation of labour market interventions in the face of the Greek crisis
... kind of policy resulted in declining wage shares that created an unsustainable growth model in the Euro area. Keynes stemming from the perception that wages are the source of demand, in 1930 stated that wage flexibility in wages would cause economic instability, while it is also insufficient to crea ...
... kind of policy resulted in declining wage shares that created an unsustainable growth model in the Euro area. Keynes stemming from the perception that wages are the source of demand, in 1930 stated that wage flexibility in wages would cause economic instability, while it is also insufficient to crea ...
THE STRENGTHENING OF THE LOTI AGAINST MAJOR
... The observed strength of the currency can be attributable to a confluence of factors listed above, but this cycle is particularly marred by a chain of events that sparked a lot of controversy around the world. It all started with the financial crisis and the resultant credit crunch and global econom ...
... The observed strength of the currency can be attributable to a confluence of factors listed above, but this cycle is particularly marred by a chain of events that sparked a lot of controversy around the world. It all started with the financial crisis and the resultant credit crunch and global econom ...
Title goes here - Resolution Foundation
... • To judge the impact of different income growth and interest rate scenarios, we now consider the number of households falling into ‘debt peril’ – households spending more than ½ of their disposable income on debt repayments (often taken to be an indicator of over-indebtedness) ...
... • To judge the impact of different income growth and interest rate scenarios, we now consider the number of households falling into ‘debt peril’ – households spending more than ½ of their disposable income on debt repayments (often taken to be an indicator of over-indebtedness) ...
10th Edition Ch. 3
... Begin with a simplifying assumption: no technological progress economy reaches a long run level of output and capital = steady state equilibrium ...
... Begin with a simplifying assumption: no technological progress economy reaches a long run level of output and capital = steady state equilibrium ...
TRADE, DISPROPORTIONALITY, AND RETROGRESSION
... degree of capacity utilization, agricultural output is not demand-determined. It is the agricultural price that is demand-determined, and while output may respond to price over time, the situation is quite different compared to industry. This asymmetry in fact was expressed by Kalecki through his di ...
... degree of capacity utilization, agricultural output is not demand-determined. It is the agricultural price that is demand-determined, and while output may respond to price over time, the situation is quite different compared to industry. This asymmetry in fact was expressed by Kalecki through his di ...
economic insight MIDDLE EAST Quarterly briefing Q4 2013
... Kuwait also raised production in response to rising prices, but has struggled to make progress with other reforms due to uneasy relations between the government and parliament. GDP growth is expected to be limited to 2.1% this year, rising to 2.9% in 2014 and 3.5% in 2015 as private consumption and ...
... Kuwait also raised production in response to rising prices, but has struggled to make progress with other reforms due to uneasy relations between the government and parliament. GDP growth is expected to be limited to 2.1% this year, rising to 2.9% in 2014 and 3.5% in 2015 as private consumption and ...
President’s Report Board Directors
... near record lows. Auto and light truck sales picked up in March, but first quarter sales were still the lowest in nearly 30 years. In February, real consumption fell in conjunction with a decrease in real disposable incomes. While the housing market continues to be a significant source of weakness i ...
... near record lows. Auto and light truck sales picked up in March, but first quarter sales were still the lowest in nearly 30 years. In February, real consumption fell in conjunction with a decrease in real disposable incomes. While the housing market continues to be a significant source of weakness i ...
Japan`s Labor Productivity Only 61 Percent of the United States`
... in order to accelerate the growth of the Japanese economy. In order to achieve this goal, it is necessary to know the productivity gaps between Japan and other countries. We compares Japan’s labor productivity with that of the U.S. and five countries in Europe and Asia, while attempting to be as rig ...
... in order to accelerate the growth of the Japanese economy. In order to achieve this goal, it is necessary to know the productivity gaps between Japan and other countries. We compares Japan’s labor productivity with that of the U.S. and five countries in Europe and Asia, while attempting to be as rig ...
The Quality of Growth: Fiscal Policies for Better Results Dr. Yan Wang
... Why this significant result? • Increasing the share of gov’t expenditure on public goods will increase the size of the service sector (social and public services), increasing human welfare (education and health) and inducing a cleaner economy with generally less pollution, as the results show. • Si ...
... Why this significant result? • Increasing the share of gov’t expenditure on public goods will increase the size of the service sector (social and public services), increasing human welfare (education and health) and inducing a cleaner economy with generally less pollution, as the results show. • Si ...
China data: Making the numbers add up - FT.com
... The likelihood that the growth rate is subject to manipulation reflects institutional weakness, notably the lack of independence of the NBS. But it also results from an analytical failing by those who assess China and other economies. If the emphasis on this single number were not so excessive, the ...
... The likelihood that the growth rate is subject to manipulation reflects institutional weakness, notably the lack of independence of the NBS. But it also results from an analytical failing by those who assess China and other economies. If the emphasis on this single number were not so excessive, the ...
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).