Sample
... Capital, p. 27. Goods, such as machine tools, computers, factories, and office buildings that are used to produce other goods and services. Consumer price index (CPI), p. 42. An average of the prices of the goods and services purchased by the typical urban family of four. Consumption, p. 29. The pur ...
... Capital, p. 27. Goods, such as machine tools, computers, factories, and office buildings that are used to produce other goods and services. Consumer price index (CPI), p. 42. An average of the prices of the goods and services purchased by the typical urban family of four. Consumption, p. 29. The pur ...
Globalization/De-Localization
... expanded levels of trade and investment. As these worldwide structures grew more quickly than any transnational regulatory regime, the instability of the global financial infrastructure dramatically increas ...
... expanded levels of trade and investment. As these worldwide structures grew more quickly than any transnational regulatory regime, the instability of the global financial infrastructure dramatically increas ...
Trendsetter barometer® 20 years at a glance What’s inside:
... Source: PwC’s Trendsetter Barometer quarterly survey question: “Approximately, what percent salary increase for the typical hourly workers have you provided for in your budget over the next 12 months?” Oxford Economics / Haver Analytics ...
... Source: PwC’s Trendsetter Barometer quarterly survey question: “Approximately, what percent salary increase for the typical hourly workers have you provided for in your budget over the next 12 months?” Oxford Economics / Haver Analytics ...
A Question with Implications for Sustainable Economic Growth
... 2. A feature of population dynamics in China has been the rapid transition from a high fertility and high mortality to low fertility and low mortality. The total fertility rate (the number of children born in a woman’s lifetime) has already fallen to 1.6, which is comparable to levels in advanced e ...
... 2. A feature of population dynamics in China has been the rapid transition from a high fertility and high mortality to low fertility and low mortality. The total fertility rate (the number of children born in a woman’s lifetime) has already fallen to 1.6, which is comparable to levels in advanced e ...
An alternative approach to measuring the output gap
... through HP filtration has been for the whole monitored period zero in average (this follows from the construction of HP filter), the year 1993 affects the development of gap to the same extent as other years. The gap estimated by SVAR method partly eliminates the effect of the year 1993 and makes mo ...
... through HP filtration has been for the whole monitored period zero in average (this follows from the construction of HP filter), the year 1993 affects the development of gap to the same extent as other years. The gap estimated by SVAR method partly eliminates the effect of the year 1993 and makes mo ...
Economic performance and government size
... Governments tend to absorb a sizeable share of society’s resources and, therefore, they affect economic development and growth in many countries. However, despite necessary, government intervention is not a sufficient condition for prosperity, if it leads to the monopolization of the allocation of r ...
... Governments tend to absorb a sizeable share of society’s resources and, therefore, they affect economic development and growth in many countries. However, despite necessary, government intervention is not a sufficient condition for prosperity, if it leads to the monopolization of the allocation of r ...
The impact of international capital flows on the South Africa... since the end of apartheid Seeraj Mohamed
... access to credit has supported existing negative trends in the economy. For example, the exuberance in the stock market experienced from the early-1990s that led to higher share prices seems to have continued and to have been supported by easier private sector access to credit. The same applies to g ...
... access to credit has supported existing negative trends in the economy. For example, the exuberance in the stock market experienced from the early-1990s that led to higher share prices seems to have continued and to have been supported by easier private sector access to credit. The same applies to g ...
NBER WORKING PAPER SERIES BOOM-BUST CYCLES IN MIDDLE INCOME COUNTRIES: Aaron Tornell
... and therefore have implicit bailout schemes. Since in middle income countries the real exchange rate tends to be a key price, governments tend to follow policies that serve to insure economic actors against real exchange rate risk. Thus, if a critical mass of agents choose not to hedge, the governme ...
... and therefore have implicit bailout schemes. Since in middle income countries the real exchange rate tends to be a key price, governments tend to follow policies that serve to insure economic actors against real exchange rate risk. Thus, if a critical mass of agents choose not to hedge, the governme ...
Green Agrowth as a Third Option: Removing the GDP
... Distribution is further worthwhile to be considered in social welfare assessment as welfare depends on comparisons with others. This manifests itself in the pursuit of consumption of conspicuous goods and associated rivalry for status. Now status is absolutely scarce: if someone has much status it, ...
... Distribution is further worthwhile to be considered in social welfare assessment as welfare depends on comparisons with others. This manifests itself in the pursuit of consumption of conspicuous goods and associated rivalry for status. Now status is absolutely scarce: if someone has much status it, ...
Validity of the economic thoughts of Keynes and Marx for the 21st
... quickly become competitor of the USA. From 1960-1965 wages in Europe and Japan, the main US competitors, rose from between 2-6 per cent annually, white wages in the US fell during the same period 0. 7 per cent. The new wage relationships caused a balance of payments surplus in America which reached ...
... quickly become competitor of the USA. From 1960-1965 wages in Europe and Japan, the main US competitors, rose from between 2-6 per cent annually, white wages in the US fell during the same period 0. 7 per cent. The new wage relationships caused a balance of payments surplus in America which reached ...
NBER WORKING PAPER SERIES MACROECONOMIC ADJUSTMENT WiTH SEGMENTED LABOR MARKETS Pierre-Richard Agénor
... unemployment as the result of efficiency wages. See Weiss (1990) and, for a more critical view, Carmichael (1990). Agénor and Santaella (1993) examine the impact of macroeconomic policy shocks in a two-sector model of an open economy with homogeneous labor and relative wage rigidity induced by effic ...
... unemployment as the result of efficiency wages. See Weiss (1990) and, for a more critical view, Carmichael (1990). Agénor and Santaella (1993) examine the impact of macroeconomic policy shocks in a two-sector model of an open economy with homogeneous labor and relative wage rigidity induced by effic ...
Which fiscal capacity for the euro-area: Different cyclical transfer
... This initial acceleration of economic growth set in motion a self-enforcing cycle of rising asset prices, rising wages and deteriorating competitiveness. As this initial growth shock pushed up national inflation rates, and given that the European Central Bank’s short-term interest rate was set with ...
... This initial acceleration of economic growth set in motion a self-enforcing cycle of rising asset prices, rising wages and deteriorating competitiveness. As this initial growth shock pushed up national inflation rates, and given that the European Central Bank’s short-term interest rate was set with ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... lag behind the short-term rates and have much lower conformity and much smaller amplitudes. The relative movements in both short-term market rates and bond yields increased significantly in the recent past compared with their historical averages. Near cyclical peaks, short rates tend to come close t ...
... lag behind the short-term rates and have much lower conformity and much smaller amplitudes. The relative movements in both short-term market rates and bond yields increased significantly in the recent past compared with their historical averages. Near cyclical peaks, short rates tend to come close t ...
mmi03-westermann 223302 en
... exposed to the N-sector, a long-lasting credit crunch outlives a brief recession. In order to ground the mechanism we have described empirically, we present evidence on the existence of systemic guarantees and on the asymmetry of financing opportunities available across sectors. Although many countr ...
... exposed to the N-sector, a long-lasting credit crunch outlives a brief recession. In order to ground the mechanism we have described empirically, we present evidence on the existence of systemic guarantees and on the asymmetry of financing opportunities available across sectors. Although many countr ...
This PDF is a selection from a published volume from... Economic Research Volume Title: NBER International Seminar on Macroeconomics 2008
... types of policies that might generate these effects such as noncompetitive banking systems, product and labor market regulations, corruption, and trade restrictions. For example, specific producers might be offered, by governments, special tax deals and contracts financed by taxes on other productio ...
... types of policies that might generate these effects such as noncompetitive banking systems, product and labor market regulations, corruption, and trade restrictions. For example, specific producers might be offered, by governments, special tax deals and contracts financed by taxes on other productio ...
... Finally, this literature acknowledges the fact that local endowments, in a broad sense, do differ across regions, which affects productivity, again possibly independently from the presence of agglomeration economies. Typically, one would like to control for private and public capital local endowment ...
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).