Economic Instability: A Critique of the Self
... section of the Keynesian AS curve? Explain. An economist who believes the economy is self-regulating is more likely to advocate laissez-faire than an economist who believes the economy is inherently unstable. Agree or disagree? Explain ...
... section of the Keynesian AS curve? Explain. An economist who believes the economy is self-regulating is more likely to advocate laissez-faire than an economist who believes the economy is inherently unstable. Agree or disagree? Explain ...
Time to Build And Aggregate Fluctuations
... • In order to actually perform RBC model building, you need to have a H-P filter routine, which can be found on the internet • The you need a model of the economy, which also requires lots of data – good data • You then need a set of estimate coefficients – some of these apparently are considered mo ...
... • In order to actually perform RBC model building, you need to have a H-P filter routine, which can be found on the internet • The you need a model of the economy, which also requires lots of data – good data • You then need a set of estimate coefficients – some of these apparently are considered mo ...
Discussion of “A Global Village without borders
... Suppose there is a country specific component to TFP. - If it is idiosyncratic white noise, aggregating will wash it out. - If ~ random walk and independent across the economies, aggregating fine. - If ~ ARMA(p,q) and correlated across economies, aggregating implies mismeasurement of aggregate TFP. ...
... Suppose there is a country specific component to TFP. - If it is idiosyncratic white noise, aggregating will wash it out. - If ~ random walk and independent across the economies, aggregating fine. - If ~ ARMA(p,q) and correlated across economies, aggregating implies mismeasurement of aggregate TFP. ...
Highlights of PHDR 09
... Income poverty targets for MKUKUTA and MDG out of reach (needs annual real consumption per capita growth of 3.2%) Slide 12 • Redistribution of income may not be effective without high and sustained growth rate • Exploit comparative advantages and raise domestic employment and productivity ...
... Income poverty targets for MKUKUTA and MDG out of reach (needs annual real consumption per capita growth of 3.2%) Slide 12 • Redistribution of income may not be effective without high and sustained growth rate • Exploit comparative advantages and raise domestic employment and productivity ...
Presentation about the role of PPD in Investment Climate Reform
... Foreign investment can contribue to overall economic development goals by bringing capital, new technologies, int‘l standards, know-how and access to new markets Important that PPD embrace the needs and interests of both domestic and international investors, creating a ‘level playing field‘ in terms ...
... Foreign investment can contribue to overall economic development goals by bringing capital, new technologies, int‘l standards, know-how and access to new markets Important that PPD embrace the needs and interests of both domestic and international investors, creating a ‘level playing field‘ in terms ...
ANAN Communique
... 3.Government at all levels should take responsibility to ensure accountability and transparency in governance by addressing the challenges of prudency and budget implementation towards actualizing the transformation agenda. 4.Sanctions and criminal penalties for corrupt practices should be handled d ...
... 3.Government at all levels should take responsibility to ensure accountability and transparency in governance by addressing the challenges of prudency and budget implementation towards actualizing the transformation agenda. 4.Sanctions and criminal penalties for corrupt practices should be handled d ...
Slide 1
... Low Returns - mean (10%) and median (13%) before-tax profit rates are low in large/medium manufacturing (during 2001/2002); High transactions costs – 21% of output in industry Irreversibility – increases the option value of waiting and lowers investment: High uncertainty – demand uncertainty, cost u ...
... Low Returns - mean (10%) and median (13%) before-tax profit rates are low in large/medium manufacturing (during 2001/2002); High transactions costs – 21% of output in industry Irreversibility – increases the option value of waiting and lowers investment: High uncertainty – demand uncertainty, cost u ...
2015 Quarter 1 MAURITIAN SNAPSHOT
... From an economic perspective, one of the main challenges facing Mauritius is its strong trade and investment ties with Europe. The economic turmoil in the region has directly affected Mauritius as reflected by subdued GDP growth figures in recent years. While the government is actively undertaking d ...
... From an economic perspective, one of the main challenges facing Mauritius is its strong trade and investment ties with Europe. The economic turmoil in the region has directly affected Mauritius as reflected by subdued GDP growth figures in recent years. While the government is actively undertaking d ...
סקטור ה- "היי טק" וצמיחת המשק
... Intro - continued In order to “do it right”, need to understand the fundamentals: • What is exactly the economic rationale for government intervention in the realm of Innovation and R&D? => Appropriate policies should be derived from it! • How that varies across countries, given the tremendous hete ...
... Intro - continued In order to “do it right”, need to understand the fundamentals: • What is exactly the economic rationale for government intervention in the realm of Innovation and R&D? => Appropriate policies should be derived from it! • How that varies across countries, given the tremendous hete ...
Ch. 5 Notes
... Recurring periods of growth and decline in an economy’s real output, or real GDP. Composed of four phases: • Recovery – Expansionary phase during which real GDP increases. ...
... Recurring periods of growth and decline in an economy’s real output, or real GDP. Composed of four phases: • Recovery – Expansionary phase during which real GDP increases. ...
FACTORS OF ECONOMIC DYNAMISM IN ASIAN COUNTRIES
... In Singapore, Krugman (1994) says that: “The employed share of the population surged from 27 to 51 percent. The educational standards of that work force were dramatically upgraded: while in 1966 more than half the workers had no formal education at all, by 1990 two-thirds had completed secondary edu ...
... In Singapore, Krugman (1994) says that: “The employed share of the population surged from 27 to 51 percent. The educational standards of that work force were dramatically upgraded: while in 1966 more than half the workers had no formal education at all, by 1990 two-thirds had completed secondary edu ...
The Post-WWII Canadian Economy
... to the profession of business economics. During the war, economists, although few in number, played prominent, even decisive roles in many wartime operations.2 The main centres of such activity were the small but powerful staff of the Bank of Canada; the even smaller but more powerful staff of the D ...
... to the profession of business economics. During the war, economists, although few in number, played prominent, even decisive roles in many wartime operations.2 The main centres of such activity were the small but powerful staff of the Bank of Canada; the even smaller but more powerful staff of the D ...
Impacts of the financial crisis on the Republic of Uzbekistan
... in recent years. In particular, the following groups of population are most vulnerable to the risks of global crisis: ...
... in recent years. In particular, the following groups of population are most vulnerable to the risks of global crisis: ...
Demography is Economic Destiny 1
... of 25 and 45, and continues to rise until its eventual peak at age 55. Our income starts to decline after that, slowly at first between ages 55 and 65, but then drops by more than a fourth over the next decade and by more than a half after age 75. There is an even more significant correspondence bet ...
... of 25 and 45, and continues to rise until its eventual peak at age 55. Our income starts to decline after that, slowly at first between ages 55 and 65, but then drops by more than a fourth over the next decade and by more than a half after age 75. There is an even more significant correspondence bet ...
Comments on: Micro Levels
... More borrowing moderates spending if households and firms can better sustain spending in the face of cyclical weakness in income and cash flow. But it could also create more volatility by making it easier to adjust to changes in target capital stocks. ...
... More borrowing moderates spending if households and firms can better sustain spending in the face of cyclical weakness in income and cash flow. But it could also create more volatility by making it easier to adjust to changes in target capital stocks. ...
Net National Income
... National Accounts • The System of National Accounts is a comprehensive accounting framework within which economic data can be compiled and presented in a format that is designed for purposes of economic analysis, decisiontaking and policy-making. • Integrates a set of macroeconomic accounts, balanc ...
... National Accounts • The System of National Accounts is a comprehensive accounting framework within which economic data can be compiled and presented in a format that is designed for purposes of economic analysis, decisiontaking and policy-making. • Integrates a set of macroeconomic accounts, balanc ...
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).