expectations of inflation
... matter when it comes to understanding the behavior of inflation and unemployment? • When unemployment is low, firms compete for workers and bid up wages sharply. • When unemployment is high, it is more difficult for firms to cut wages because workers tend to resist wage cuts. Result: Even if the tot ...
... matter when it comes to understanding the behavior of inflation and unemployment? • When unemployment is low, firms compete for workers and bid up wages sharply. • When unemployment is high, it is more difficult for firms to cut wages because workers tend to resist wage cuts. Result: Even if the tot ...
PDF
... According to Porter, competitiveness and the resulting growth are the consequences of private sector activities. The diamond figure represents the importance of embeddedness of these private economic activities in their economic environment. The economic environment of business activities is created ...
... According to Porter, competitiveness and the resulting growth are the consequences of private sector activities. The diamond figure represents the importance of embeddedness of these private economic activities in their economic environment. The economic environment of business activities is created ...
S How Will Unemployment Fare Following the Recession?
... GDP. The average postwar recession coincided with a 1.7 percent decline in the level of GDP.2 The 1973-75 and 1981-82 GDP declines were 3.1 and 2.6 percent, respectively. In the current recession, GDP had dropped 2.2 percent through the first quarter of 2009. The GDP decline during this recession wo ...
... GDP. The average postwar recession coincided with a 1.7 percent decline in the level of GDP.2 The 1973-75 and 1981-82 GDP declines were 3.1 and 2.6 percent, respectively. In the current recession, GDP had dropped 2.2 percent through the first quarter of 2009. The GDP decline during this recession wo ...
uppsatsfinal - Lund University Publications
... According to Susan Strange and Richard Rosecrance, the world has changed. Independent states used to be the key actors in the world and national governments used to be in control of domestic politics as well as the domestic economy. This is no longer true. There has been a change in the State-Market ...
... According to Susan Strange and Richard Rosecrance, the world has changed. Independent states used to be the key actors in the world and national governments used to be in control of domestic politics as well as the domestic economy. This is no longer true. There has been a change in the State-Market ...
terms of trade
... The standard trade model combines ideas from the Ricardian model and the Heckscher-Ohlin model. 1. Differences in labor services, labor skills, physical capital, land, and technology between countries cause productive differences, leading to gains from trade. 2. These productive differences are repr ...
... The standard trade model combines ideas from the Ricardian model and the Heckscher-Ohlin model. 1. Differences in labor services, labor skills, physical capital, land, and technology between countries cause productive differences, leading to gains from trade. 2. These productive differences are repr ...
Drivers of Long-Run Prosperity: Laying the Foundations for an
... that current and potential investors face. Examples from literature in support of these ideas include Banerjee and Iyer 2005, who analyze the colonial land revenue institutions set up by the British in India and show that differences in historical property rights institutions lead to sustained diffe ...
... that current and potential investors face. Examples from literature in support of these ideas include Banerjee and Iyer 2005, who analyze the colonial land revenue institutions set up by the British in India and show that differences in historical property rights institutions lead to sustained diffe ...
O`Sullivan Sheffrin Peres 6e
... In 1950, health-care expenditures in the United States were 5.2 percent of GDP; by 2000, this share had risen to 15.4 percent. Since 1950, the average life span has increased by 1.7 years per decade. Two economists, Charles I. Jones and Robert E. Hall, go further and suggest normal increases in econ ...
... In 1950, health-care expenditures in the United States were 5.2 percent of GDP; by 2000, this share had risen to 15.4 percent. Since 1950, the average life span has increased by 1.7 years per decade. Two economists, Charles I. Jones and Robert E. Hall, go further and suggest normal increases in econ ...
NZ labour market review, March quarter 2017
... prepared and issued for distribution in Singapore to institutional investors, accredited investors and expert investors (as defined in the applicable Singapore laws and regulations) only. Recipients in Singapore of this material should contact Westpac Singapore Branch in respect of any matters arisi ...
... prepared and issued for distribution in Singapore to institutional investors, accredited investors and expert investors (as defined in the applicable Singapore laws and regulations) only. Recipients in Singapore of this material should contact Westpac Singapore Branch in respect of any matters arisi ...
The Role of Firm-Level Productivity Growth for the Optimal Rate of
... and new firms that expand at a faster rate than incumbent firms, I find that the optimal long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning- ...
... and new firms that expand at a faster rate than incumbent firms, I find that the optimal long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning- ...
The United Nations Environment Programme`s Green Economy
... basis of human wealth was promoted by the Millennium Ecosystem Assessment (UNEP 2006). It is pointed out that investments in environment have favorable effects on the economy. Negative effects of climate change related to extreme weather events in 2005, proved to harm the economy unprecedentedly, ca ...
... basis of human wealth was promoted by the Millennium Ecosystem Assessment (UNEP 2006). It is pointed out that investments in environment have favorable effects on the economy. Negative effects of climate change related to extreme weather events in 2005, proved to harm the economy unprecedentedly, ca ...
Growth - Office for National Statistics
... Economic growth resumed towards the end of 2009, but at a slower rate than the period prior to 2008, as demand was subdued by inflation outstripping nominal wage growth, leading to a fall in the real income of households. The services industries grew steadily, if slowly, during this period; activity ...
... Economic growth resumed towards the end of 2009, but at a slower rate than the period prior to 2008, as demand was subdued by inflation outstripping nominal wage growth, leading to a fall in the real income of households. The services industries grew steadily, if slowly, during this period; activity ...
NBER WORKING PAPER SERIES A JOBLESS RECOVERY
... central bank temporarily deviates from the traditional Taylor rule by pegging the nominal interest rate at the target level. The paper shows that this policy, rather than exacerbating the recession as conventional wisdom would have it, can boost inflationary expectations and thereby lift the economy ...
... central bank temporarily deviates from the traditional Taylor rule by pegging the nominal interest rate at the target level. The paper shows that this policy, rather than exacerbating the recession as conventional wisdom would have it, can boost inflationary expectations and thereby lift the economy ...
Remittances and Economic Growth in Mexico
... From a regional standpoint, Canas et. al. report that the lion’s share of remittances were sent to the middle income (and poor) central western-states of Michoacan, Guanajuato, Morelos, Zacatecas, and Estado de Mexico (all at least 5% of gross state product). Several of the poorer southern states (O ...
... From a regional standpoint, Canas et. al. report that the lion’s share of remittances were sent to the middle income (and poor) central western-states of Michoacan, Guanajuato, Morelos, Zacatecas, and Estado de Mexico (all at least 5% of gross state product). Several of the poorer southern states (O ...
Management & Engineering Industry in Zhejiang Province
... had the opposite situation. Moreover, the added value rates of the ranking top 3 industries are all lower than the average rate. The law that verified by the developed countries seems not work, or it comes the paradox, namely “Manufacturing value added rate did not rise with the improvement of econo ...
... had the opposite situation. Moreover, the added value rates of the ranking top 3 industries are all lower than the average rate. The law that verified by the developed countries seems not work, or it comes the paradox, namely “Manufacturing value added rate did not rise with the improvement of econo ...
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).