Aggregate Demand, Aggregate Supply and Economic Growth
... rather than at a particular exogenously specified full employment rate.12 The reason why this model does not result in an exogenously-specified unique unemployment rate is that it assumes that investment changes as a result of changes in—and not levels of—the unemployment rate. Dependence on changes ...
... rather than at a particular exogenously specified full employment rate.12 The reason why this model does not result in an exogenously-specified unique unemployment rate is that it assumes that investment changes as a result of changes in—and not levels of—the unemployment rate. Dependence on changes ...
Summary
... globe- the centrally planned economies of the communist world, was off limits to Western international business. The Changing World Output and the Changing World Trade Picture B) In the early 1960s, the U.S. was still by far the world's dominant industrial power. In 1963, for example, the U.S. accou ...
... globe- the centrally planned economies of the communist world, was off limits to Western international business. The Changing World Output and the Changing World Trade Picture B) In the early 1960s, the U.S. was still by far the world's dominant industrial power. In 1963, for example, the U.S. accou ...
COUNTRY AND REGIONAL PERSPECTIVES
... The United States and Canada: A Solid Recovery Growth in the United States and Canada remains solid. However, while lower energy prices have boosted growth momentum in the United States, they pose downside risks to the Canadian economy owing to the relatively large size of its energy sector. In the ...
... The United States and Canada: A Solid Recovery Growth in the United States and Canada remains solid. However, while lower energy prices have boosted growth momentum in the United States, they pose downside risks to the Canadian economy owing to the relatively large size of its energy sector. In the ...
PDF
... [2008]. It presents and discusses the results obtained applying CGE, NEG and New-NEG models to the Italian area of the “Basso-Ferrarese” and compares them with new CGE simulations that have been specifically designed for the same area, taking into considerations the peculiar and unique territorial f ...
... [2008]. It presents and discusses the results obtained applying CGE, NEG and New-NEG models to the Italian area of the “Basso-Ferrarese” and compares them with new CGE simulations that have been specifically designed for the same area, taking into considerations the peculiar and unique territorial f ...
Bartlett , Will Prica , Ivana. 'Interdependence between Core and Peripheries of the European Economy: Secular Stagnation and Growth in the Western Balkans' LEQS Paper No. 104, February 2016
... revealed that the Greek state had a far higher level of debt than had previously been thought. Investors suddenly realised that the Periphery countries could not necessarily pay back their debts, and that more importantly, there was no guarantee that the Core countries would bail out their debts wit ...
... revealed that the Greek state had a far higher level of debt than had previously been thought. Investors suddenly realised that the Periphery countries could not necessarily pay back their debts, and that more importantly, there was no guarantee that the Core countries would bail out their debts wit ...
No Slide Title
... fixed (like in the U.S. in the 1950s), excess wage inflation depends only on whether the unemployment rate is current higher or lower than its natural rate. (Figure 17.8A) • Because wage are typically set in advance, the determination of nominal wage inflation occurs before the determination of pric ...
... fixed (like in the U.S. in the 1950s), excess wage inflation depends only on whether the unemployment rate is current higher or lower than its natural rate. (Figure 17.8A) • Because wage are typically set in advance, the determination of nominal wage inflation occurs before the determination of pric ...
Reading Kindleberger in Washington and Berlin Ideas
... theorized that rational actors pursuing their own material self-interests would be incapable of providing public goods due to the constant incentive to free ride. He further added that group size was inversely related to successful collective action. While larger groups “would fail to provide themse ...
... theorized that rational actors pursuing their own material self-interests would be incapable of providing public goods due to the constant incentive to free ride. He further added that group size was inversely related to successful collective action. While larger groups “would fail to provide themse ...
Human Capital, Industrial Growth and Resource Curse by Elena
... Doppelhofer et al., 2000). A number of theories were proposed to explain this negative link. The spectrum of issues raised in the literature ranges from the issues of currency appreciation in the era of high resource prices and the subsequent “Dutch disease” effects that deteriorate the development ...
... Doppelhofer et al., 2000). A number of theories were proposed to explain this negative link. The spectrum of issues raised in the literature ranges from the issues of currency appreciation in the era of high resource prices and the subsequent “Dutch disease” effects that deteriorate the development ...
China, India and the World Economy
... dynamic growth effect, and if there is a growth effect, whether it is purely transitional or it is sustained along the steady state path are issues that have been explored in the literature. Of course, even static and transitional effects could affect growth over a long time if the process of trade ...
... dynamic growth effect, and if there is a growth effect, whether it is purely transitional or it is sustained along the steady state path are issues that have been explored in the literature. Of course, even static and transitional effects could affect growth over a long time if the process of trade ...
NBER WORKING PAPER SERIES AND TRADE Gene M. Grossman Elhanan Helprnan
... continue to be interested in the link between the nature of differences in countries' technological capabilities and the pattern of world trade. Recent research has asked, How will an across-the-board technological gap between rich and poor countries be reflected in global trade structure?. And how ...
... continue to be interested in the link between the nature of differences in countries' technological capabilities and the pattern of world trade. Recent research has asked, How will an across-the-board technological gap between rich and poor countries be reflected in global trade structure?. And how ...
BPfG Taxation Committee Presentation 14May15
... Government in US has grown greatly over 50+ years relative to our economy (and thus as a factor in people’s lives), from mid20% range to high-30% range – a truly unsustainable trend ...
... Government in US has grown greatly over 50+ years relative to our economy (and thus as a factor in people’s lives), from mid20% range to high-30% range – a truly unsustainable trend ...
here`s a good reading for Question 3
... The Marginalist Account of the Labor Market When the General Theory was first published, many commentators, for example, Modigliani and Klein, simply assumed that the marginalist account of the labor market was broadly accurate, provided wages and prices were flexible. But Keynes was correct, they a ...
... The Marginalist Account of the Labor Market When the General Theory was first published, many commentators, for example, Modigliani and Klein, simply assumed that the marginalist account of the labor market was broadly accurate, provided wages and prices were flexible. But Keynes was correct, they a ...
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).