research paper series Research Paper 2005/05
... sector and contribute to the existence of equilibrium unemployment at the macroeconomic level. In this paper we choose to focus on a source of unemployment for which there is considerable microeconomic evidence across virtually all sectors as well as experimental evidence: the fair wage model.3 Begi ...
... sector and contribute to the existence of equilibrium unemployment at the macroeconomic level. In this paper we choose to focus on a source of unemployment for which there is considerable microeconomic evidence across virtually all sectors as well as experimental evidence: the fair wage model.3 Begi ...
FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH
... proportion of savings could not be invested due to poor investment opportunities. The classical political economists went beyond the intuitive thoughts of mercantilists and they focused on the causal relations of the economic phenomena. Gradually the neo-liberal policies had been effective since the ...
... proportion of savings could not be invested due to poor investment opportunities. The classical political economists went beyond the intuitive thoughts of mercantilists and they focused on the causal relations of the economic phenomena. Gradually the neo-liberal policies had been effective since the ...
Richard Baldwin Working
... trade can affect the steady-state levels of such factors. Consequently, trade liberalization will have dynamic effects on output and welfare as the economy moves to its new steady state, in addition to its usual static effects. The output impact of this dynamic effect is measurable and appears to be ...
... trade can affect the steady-state levels of such factors. Consequently, trade liberalization will have dynamic effects on output and welfare as the economy moves to its new steady state, in addition to its usual static effects. The output impact of this dynamic effect is measurable and appears to be ...
2012-2013 - Egypt - Interim Strategy Paper
... particular. In the aftermath of the global financial crisis, Egypt’s GDP growth was poised for a fast recovery. However, heightened economic risks emanating from the revolution have led GDP growth to drop to 1.8% in 2011 (see Chart 1). Tourism, which accounts for about 4.3% of the country's GDP and ...
... particular. In the aftermath of the global financial crisis, Egypt’s GDP growth was poised for a fast recovery. However, heightened economic risks emanating from the revolution have led GDP growth to drop to 1.8% in 2011 (see Chart 1). Tourism, which accounts for about 4.3% of the country's GDP and ...
The world in 2050
... With the rapid growth of the emerging markets, the global economy is experiencing a seismic shift. But why is this change occurring? Will it continue? And how will the world look if it does? The answers to these questions are important for investors' decisions today. In this piece, we provide a fram ...
... With the rapid growth of the emerging markets, the global economy is experiencing a seismic shift. But why is this change occurring? Will it continue? And how will the world look if it does? The answers to these questions are important for investors' decisions today. In this piece, we provide a fram ...
Download
... methodology used for their calculation and on the definition of procurement employed (Audet, 2002). Second, regarding the role of government demand, one line of argumentation rests on the importance of the inter-industrial composition of public purchases. Government demand is likely to affect decisi ...
... methodology used for their calculation and on the definition of procurement employed (Audet, 2002). Second, regarding the role of government demand, one line of argumentation rests on the importance of the inter-industrial composition of public purchases. Government demand is likely to affect decisi ...
ANSWERS TO HOMEWORK QUESTIONS Chapter 3
... income receipts from abroad and incoming unilateral transfers. Debit items in the current account are imports of goods and services, income payments to foreigners, and outgoing unilateral transfers. Adding all of the credit items and subtracting all of the debit items gives the current account balan ...
... income receipts from abroad and incoming unilateral transfers. Debit items in the current account are imports of goods and services, income payments to foreigners, and outgoing unilateral transfers. Adding all of the credit items and subtracting all of the debit items gives the current account balan ...
AGGREGATE DEMAND, INSTABILITY, AND GROWTH*
... other factors to affect the long-run utilization rate, as long as it remains within the normal range. Nonetheless, the investment decision is ultimately made by the firm, and we therefore assert that the firm’s objectives should be the starting point for understanding investment dynamics. That is, t ...
... other factors to affect the long-run utilization rate, as long as it remains within the normal range. Nonetheless, the investment decision is ultimately made by the firm, and we therefore assert that the firm’s objectives should be the starting point for understanding investment dynamics. That is, t ...
Making Abundant Natural Resources Work for Developing Economies
... possible dampening effect of natural resource abundance, has not been studied thoroughly yet. Among the few studies, Nili and Rastad (2007) concluded that contrary to the general consensus, financial development had a net dampening effect on investment and growth in oil exporting economies. Furtherm ...
... possible dampening effect of natural resource abundance, has not been studied thoroughly yet. Among the few studies, Nili and Rastad (2007) concluded that contrary to the general consensus, financial development had a net dampening effect on investment and growth in oil exporting economies. Furtherm ...
N 50
... Expansion in industry in the 1920s is in general seen as being rapid but this momentum is not thought to lead to any structural changes by the end of the decade. Small, self-financing family firms dominated the sector. It has been argued that the number of industrial establishments doubled between 1 ...
... Expansion in industry in the 1920s is in general seen as being rapid but this momentum is not thought to lead to any structural changes by the end of the decade. Small, self-financing family firms dominated the sector. It has been argued that the number of industrial establishments doubled between 1 ...
Bank Capitalization and Loan Growth
... A few academic papers have recently indicated that banks with a greater amount of capital tend to lend more as a result of lower funding costs. This evidence has been used to support further increases in capital requirements worldwide, including the proposed inclusion of the global systemically impo ...
... A few academic papers have recently indicated that banks with a greater amount of capital tend to lend more as a result of lower funding costs. This evidence has been used to support further increases in capital requirements worldwide, including the proposed inclusion of the global systemically impo ...
Are Global Movements Necessary to Pursue a Great
... If the cultural foundations of movements for social protection cannot be founded on experiences with non-market societies, they must be constructed on the basis of experiences within market societies. A multiplicity of such bases are possible but, for purposes of this schematic summary, suffice to u ...
... If the cultural foundations of movements for social protection cannot be founded on experiences with non-market societies, they must be constructed on the basis of experiences within market societies. A multiplicity of such bases are possible but, for purposes of this schematic summary, suffice to u ...
NOTAS48ING_final_en.pdf
... world demand and geopolitical tensions in the Middle East. High petroleum prices are beginning to have an impact not only on general inflation in all countries but also on the higher interest rates set by central banks, which could limit access by regional countries to international financial market ...
... world demand and geopolitical tensions in the Middle East. High petroleum prices are beginning to have an impact not only on general inflation in all countries but also on the higher interest rates set by central banks, which could limit access by regional countries to international financial market ...
Was Stalin Necessary for Russia`s Economic
... In 1962, a prominent British economic historian, Alec Nove, asked whether Russia would have been able to industrialize during the late 1920s and 1930s in the absence of Stalin’s economic policies.1 The transformation of Soviet Russia from an agrarian to an industrial economy had profound economic an ...
... In 1962, a prominent British economic historian, Alec Nove, asked whether Russia would have been able to industrialize during the late 1920s and 1930s in the absence of Stalin’s economic policies.1 The transformation of Soviet Russia from an agrarian to an industrial economy had profound economic an ...
Privatisation - Institute of Public Policy
... Government has undertaken a limited analysis of capital costs on new build schemes but this did not take account of all project costs such as finance costs.” (HoC 2010) – “Many PFI housing procurements have taken very much longer, and cost a great deal more, than originally planned” (Hoc 2010) – Sup ...
... Government has undertaken a limited analysis of capital costs on new build schemes but this did not take account of all project costs such as finance costs.” (HoC 2010) – “Many PFI housing procurements have taken very much longer, and cost a great deal more, than originally planned” (Hoc 2010) – Sup ...
GOVERNANCE ISSUES IN THE PACIFIC ISLAND STATES
... Economic Performance of PICs • The economic performance of the PICs in the second half of the 1990s and the first half of the 2000s varied considerably from country to country. • Cook Islands, Fiji, Kiribati, Samoa, Tonga, and Tuvalu all had positive per capita GDP growth during this period, while ...
... Economic Performance of PICs • The economic performance of the PICs in the second half of the 1990s and the first half of the 2000s varied considerably from country to country. • Cook Islands, Fiji, Kiribati, Samoa, Tonga, and Tuvalu all had positive per capita GDP growth during this period, while ...
Rising Inequality in Asia
... Asian governments are responding to rising inequality by trying to make their development plans more inclusive • Distinction between inequality of opportunity and inequality of outcome important in guiding policy • Inequality of opportunity – access to education, health care, public services of jobs ...
... Asian governments are responding to rising inequality by trying to make their development plans more inclusive • Distinction between inequality of opportunity and inequality of outcome important in guiding policy • Inequality of opportunity – access to education, health care, public services of jobs ...
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).