Paper
... export competitiveness into the next century is the focus of this study. This study provides an in-depth investigation of shifting export specialisation and the export competitiveness of the Malaysian manufacturing sector at three-digit Standard International Trade Classification (SITC) product cate ...
... export competitiveness into the next century is the focus of this study. This study provides an in-depth investigation of shifting export specialisation and the export competitiveness of the Malaysian manufacturing sector at three-digit Standard International Trade Classification (SITC) product cate ...
Technology Diffusion and Postwar Growth
... to their prewar growth paths. The second is that, contrary to the U.S., both Germany and Japan did not converge to this prewar path but instead busted through it and converged to a growth path that was substantially higher than that in the prewar period. Just like for the declines during WWII, the p ...
... to their prewar growth paths. The second is that, contrary to the U.S., both Germany and Japan did not converge to this prewar path but instead busted through it and converged to a growth path that was substantially higher than that in the prewar period. Just like for the declines during WWII, the p ...
Technology Diffusion and Postwar Growth Working Paper
... to their prewar growth paths. The second is that, contrary to the U.S., both Germany and Japan did not converge to this prewar path but instead busted through it and converged to a growth path that was substantially higher than that in the prewar period. Just like for the declines during WWII, the p ...
... to their prewar growth paths. The second is that, contrary to the U.S., both Germany and Japan did not converge to this prewar path but instead busted through it and converged to a growth path that was substantially higher than that in the prewar period. Just like for the declines during WWII, the p ...
Business Cycles and Public Finances
... from direct and indirect taxes and higher expenditure for e.g. unemployment benefits. Conversely, public revenue automatically increases and public expenditure automatically decreases during a boom like the one prior to the economic crisis. The development in the actual government budget balance thu ...
... from direct and indirect taxes and higher expenditure for e.g. unemployment benefits. Conversely, public revenue automatically increases and public expenditure automatically decreases during a boom like the one prior to the economic crisis. The development in the actual government budget balance thu ...
Economic Growth: the Solow Model Why Study Economic Growth?
... e. On the same graph, plot the marginal product of labor using the values you just calculated. f. What happens to the marginal product of labor when the economy’s stock of capital increases? 2. In Lecture 3, you learned that a firm hires labor up to the point where the wage equals the price times th ...
... e. On the same graph, plot the marginal product of labor using the values you just calculated. f. What happens to the marginal product of labor when the economy’s stock of capital increases? 2. In Lecture 3, you learned that a firm hires labor up to the point where the wage equals the price times th ...
norface08 Alho 8162004 en
... closed sector (non-tradable goods and services). This is also the starting point in our paper. We, however, modify and extend the basic model in several ways, i.a., with the key result in empirical growth literature, which states that the GDP growth rate is not constant over time, but that it is pos ...
... closed sector (non-tradable goods and services). This is also the starting point in our paper. We, however, modify and extend the basic model in several ways, i.a., with the key result in empirical growth literature, which states that the GDP growth rate is not constant over time, but that it is pos ...
FREE Sample Here
... Explanation: C) Opportunity cost refers to the value of the most appealing alternative from all those you didn't choose. In other words, opportunity cost is a way to measure the value of what you gave up when you pursued a different opportunity. Page Ref: 28 Difficulty: Moderate AACSB: Analytic Skil ...
... Explanation: C) Opportunity cost refers to the value of the most appealing alternative from all those you didn't choose. In other words, opportunity cost is a way to measure the value of what you gave up when you pursued a different opportunity. Page Ref: 28 Difficulty: Moderate AACSB: Analytic Skil ...
Do Aggregate Fluctuations Depend on the Network
... The standard diversification argument claims that independent sectoral shocks tend to average out as the level of disaggregation increases, as well as idiosyncratic shocks to firms average out as the number of firms increases.1 In this perspective, the existence of aggregate fluctuations is only or ...
... The standard diversification argument claims that independent sectoral shocks tend to average out as the level of disaggregation increases, as well as idiosyncratic shocks to firms average out as the number of firms increases.1 In this perspective, the existence of aggregate fluctuations is only or ...
Geographic concentration and territorial disparity in
... observation spans from year 1995 (1994 for the US only) to year 2000. Although territorial disparities are the result of structural factors and typically do not show large variations over a short time span, it is important to check the implications of comparing countries on the basis of different ye ...
... observation spans from year 1995 (1994 for the US only) to year 2000. Although territorial disparities are the result of structural factors and typically do not show large variations over a short time span, it is important to check the implications of comparing countries on the basis of different ye ...
Macroeconomic Impact of Capital Flows in Sub
... important research task for the future is to estimate these coefficients at the country level, especially for development assistance whose actual inflow is frequently substantially less than the nominal. The asymmetry between the two major inflows and outflows are extremely important. For national g ...
... important research task for the future is to estimate these coefficients at the country level, especially for development assistance whose actual inflow is frequently substantially less than the nominal. The asymmetry between the two major inflows and outflows are extremely important. For national g ...
NBER WORKING PAPER SERIES EVALUATING LABOR MARKET REFORMS: A GENERAL EQUILIBRIUM APPROACH
... The consequences of job security provisions for employment, output, and welfare constitute an issue of great concern for economists and policymakers. Labor market rigidities, particularly those regarding workers’ layoffs, are commonly blamed for the high European unemployment rates (see OECD, 1994, f ...
... The consequences of job security provisions for employment, output, and welfare constitute an issue of great concern for economists and policymakers. Labor market rigidities, particularly those regarding workers’ layoffs, are commonly blamed for the high European unemployment rates (see OECD, 1994, f ...
the Case of a Small Open Economy
... less regulated international capital flows are more likely to respond to differences in capital price, thereby leading to capital reward equalisation across borders. Overall, we can safely consider that immigration flows are largely exogenous while capital flows are endogenous and respond to risk-ad ...
... less regulated international capital flows are more likely to respond to differences in capital price, thereby leading to capital reward equalisation across borders. Overall, we can safely consider that immigration flows are largely exogenous while capital flows are endogenous and respond to risk-ad ...
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).