The Case for Trade and Competitiveness - WEF
... people. They have also harnessed global economic forces to drive greater efficiency, innovation and productivity in their own economies. In other words, they have not only looked within for the elements needed to bring long-term prosperity but also have looked outside their borders and made the most ...
... people. They have also harnessed global economic forces to drive greater efficiency, innovation and productivity in their own economies. In other words, they have not only looked within for the elements needed to bring long-term prosperity but also have looked outside their borders and made the most ...
Introduction to Minsky`s Stabilizing an Unstable Economy
... institutional ceilings and floors to produce a variety of possible outcomes, including steady growth, cycles, booms, and long depressions. He ultimately came back to these models in some of his last papers written at the Levy Institute. It is clear, however, that the results of these analyses playe ...
... institutional ceilings and floors to produce a variety of possible outcomes, including steady growth, cycles, booms, and long depressions. He ultimately came back to these models in some of his last papers written at the Levy Institute. It is clear, however, that the results of these analyses playe ...
NBER WORKING PAPER SERIES Craig Burnside
... rate is 0:15 percentage points lower. Our point estimate implies an e¤ect that is twice as large: for each additional percentage point of volatility, a country’s average growth rate is 0:31 percentage points lower. Apart from the possibility that the magnitude of the e¤ect could vary with the time p ...
... rate is 0:15 percentage points lower. Our point estimate implies an e¤ect that is twice as large: for each additional percentage point of volatility, a country’s average growth rate is 0:31 percentage points lower. Apart from the possibility that the magnitude of the e¤ect could vary with the time p ...
NBER WORKING PAPER SERIES R&D SPILLOVERS AND GLOBAL
... International Monetary Fund, the National Bureau of Economic Research or any other institution. @ 1996 by Tamim Bayoumi, David T. Coe and Elhanan Helpman. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, i ...
... International Monetary Fund, the National Bureau of Economic Research or any other institution. @ 1996 by Tamim Bayoumi, David T. Coe and Elhanan Helpman. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, i ...
NATIONAL ACCOUNTS
... expenditure is not financed by the government. Consumption expenditure of Israeli households: Expenditure of Israeli resident households for goods and services, including durable goods but excluding purchase of dwellings, in Israel and abroad. Consumption expenditure of households in the domestic ma ...
... expenditure is not financed by the government. Consumption expenditure of Israeli households: Expenditure of Israeli resident households for goods and services, including durable goods but excluding purchase of dwellings, in Israel and abroad. Consumption expenditure of households in the domestic ma ...
Employment and Output Dynamics in a Model with Social Interactions in
... one is the indirect e¤ect of changes in the wages in the economy on individuals’employment channelled through the individual’s employment response to average employment in the economy. In this sense, our mechanism has similar implications with recent empirical studies on the e¤ect of social interact ...
... one is the indirect e¤ect of changes in the wages in the economy on individuals’employment channelled through the individual’s employment response to average employment in the economy. In this sense, our mechanism has similar implications with recent empirical studies on the e¤ect of social interact ...
NORC at the University of Chicago
... In measuring the selectivity of foreign-born US S&E PhD recipients who intend to stay in the United States, we ask whether there is positive selection even among very highly educated immigrants.5 While we do not observe student test scores or other direct measures of academic ability, we do observe ...
... In measuring the selectivity of foreign-born US S&E PhD recipients who intend to stay in the United States, we ask whether there is positive selection even among very highly educated immigrants.5 While we do not observe student test scores or other direct measures of academic ability, we do observe ...
The Risk Octagon: A Comprehensive Framework for Assessing
... significantly in 2011, following recent decisions to postpone the adjustment to 2012; in the U.S., you actually have a fiscal expansion. These two countries still have a lot of credibility, but it is clear that a loss of confidence in their ability to service their debt would have devastating effect ...
... significantly in 2011, following recent decisions to postpone the adjustment to 2012; in the U.S., you actually have a fiscal expansion. These two countries still have a lot of credibility, but it is clear that a loss of confidence in their ability to service their debt would have devastating effect ...
NBER WORKING PAPER SERIES
... was too "rigid" to respond to the post-1973 productivity growth slowdown. Wage and price equations are based on an explicit model of disequilibrium labor market adjustment, in contrast to some work (especially Newell—Symons 1985) based on a market—clearing interpretation. ...
... was too "rigid" to respond to the post-1973 productivity growth slowdown. Wage and price equations are based on an explicit model of disequilibrium labor market adjustment, in contrast to some work (especially Newell—Symons 1985) based on a market—clearing interpretation. ...
PPT chapter 04 - McGraw Hill Higher Education
... increase in the output gap (US figure). • For Australia, the relationship has been calculated using real GDP and unemployment data. It was found that an unemployment rate which is 1% above the natural rate of unemployment will cause GDP to fall below potential by 1.5%. Copyright 2011 McGraw-Hill A ...
... increase in the output gap (US figure). • For Australia, the relationship has been calculated using real GDP and unemployment data. It was found that an unemployment rate which is 1% above the natural rate of unemployment will cause GDP to fall below potential by 1.5%. Copyright 2011 McGraw-Hill A ...
Dynamics between Military Expenditures and
... industry (Military Industrial Complex). Therefore, in this research I will also compare European countries based on their neutrality and domestic defence sector. An interesting part of defence economics literature concerns hegemonic leadership decline. France and England are the only two military su ...
... industry (Military Industrial Complex). Therefore, in this research I will also compare European countries based on their neutrality and domestic defence sector. An interesting part of defence economics literature concerns hegemonic leadership decline. France and England are the only two military su ...
Economic Fluctuations, Unemployment, and Inflation
... increased at an average annual rate of only 1.6%. • In contrast, the inflation rate averaged 9.2% from 1973 to 1981, reaching double-digits during several years. • Since 1982, the average rate of inflation has been lower (3.1% from 1983-2009) and more stable. Jump to first page ...
... increased at an average annual rate of only 1.6%. • In contrast, the inflation rate averaged 9.2% from 1973 to 1981, reaching double-digits during several years. • Since 1982, the average rate of inflation has been lower (3.1% from 1983-2009) and more stable. Jump to first page ...
Trabajo presentado
... Utility is derived from the consumption of both extractive goods and nonextractive goods, from the time devoted to leisure, and from the amount of the environmental resource devoted to amenity production. The utility function takes the CES ...
... Utility is derived from the consumption of both extractive goods and nonextractive goods, from the time devoted to leisure, and from the amount of the environmental resource devoted to amenity production. The utility function takes the CES ...
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... between earnings and education, after controlling for other observed influences on earnings, may reflect the contribution of unobserved influences rather than a causal impact of education on earnings (Riddell, 2006: 10). This issue is of fundamental importance not only for the question of how we sho ...
... between earnings and education, after controlling for other observed influences on earnings, may reflect the contribution of unobserved influences rather than a causal impact of education on earnings (Riddell, 2006: 10). This issue is of fundamental importance not only for the question of how we sho ...
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).