Answers to Homework #4
... c. When the economy moves from point E to point C we know from inspection of the graph that labor is not changing and, by our assumption of fixed technology, that technology is not changing. Looking at the graph we see that capital is changing from K to K’ where K’ must be greater than K since at e ...
... c. When the economy moves from point E to point C we know from inspection of the graph that labor is not changing and, by our assumption of fixed technology, that technology is not changing. Looking at the graph we see that capital is changing from K to K’ where K’ must be greater than K since at e ...
The Long-run Effect of Innovation on Economic Growth
... improve people’s living standard in a cost effective way.7 He also found support for his view using the fact that the rate of US life expectancy improvement since the 1950s declined by two thirds compared with that of the earlier half century. On the other hand, the economic growth in major develope ...
... improve people’s living standard in a cost effective way.7 He also found support for his view using the fact that the rate of US life expectancy improvement since the 1950s declined by two thirds compared with that of the earlier half century. On the other hand, the economic growth in major develope ...
Unpacking of the 2016 BPS
... only two years remain for the MTP II period to be finalized. These include the JKIA Greenfields Terminal project, the LAPSSET projects, amoung others. These delays will severely affect the achievement of the Vision 2030 goals. Access to adequate affordable and reliable energy supply 18) The governme ...
... only two years remain for the MTP II period to be finalized. These include the JKIA Greenfields Terminal project, the LAPSSET projects, amoung others. These delays will severely affect the achievement of the Vision 2030 goals. Access to adequate affordable and reliable energy supply 18) The governme ...
NBER WORKING PAPER SERIES Robert J. Gordon Working Paper 11778
... 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invented "general purpose technologies" stimulated an increase in fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account for lo ...
... 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invented "general purpose technologies" stimulated an increase in fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account for lo ...
Secular stagnation, debt overhang and other rationales for sluggish
... market access and official rescue funds are insufficient to completely bridge the gap. Of course, the constraints that periphery countries faced were profoundly affected by northern Europe’s reluctance to allow restructuring of private debts, even in cases where sustainability was deeply in question ...
... market access and official rescue funds are insufficient to completely bridge the gap. Of course, the constraints that periphery countries faced were profoundly affected by northern Europe’s reluctance to allow restructuring of private debts, even in cases where sustainability was deeply in question ...
IOSR Journal of Economic & Finance (IOSR-JEF)
... ordinary square method (OLS). The author shows that the level of debt does not explain the slowdown of investment in highly rescheduling developing countries. Warner (1992) tried to measure the size of debt crisis effect on investment with Least Square estimation for 13 less developed countries over ...
... ordinary square method (OLS). The author shows that the level of debt does not explain the slowdown of investment in highly rescheduling developing countries. Warner (1992) tried to measure the size of debt crisis effect on investment with Least Square estimation for 13 less developed countries over ...
NBER WORKING PAPER SERIES WORLD TECHNOLOGY USAGE LAGS Diego A. Comin Bart Hobijn
... with which each adopter uses the technology. As shown by Clark (1988), this margin may be critical to explain cross-country differences in labor productivity. In this paper, we explore the questions posed above by constructing per-capita usage intensity measures of technology, including kWh of annua ...
... with which each adopter uses the technology. As shown by Clark (1988), this margin may be critical to explain cross-country differences in labor productivity. In this paper, we explore the questions posed above by constructing per-capita usage intensity measures of technology, including kWh of annua ...
On the geographical determinants of innovation in Europe and the
... of input suppliers), ‘matching’, and ‘learning’ mechanisms. The creation, accumulation, and diffusion of knowledge also rely upon different types of coordination enabled by face-to-face contacts (Storper and Venables 2004). Close proximity thus becomes a condition for the dissemination of informatio ...
... of input suppliers), ‘matching’, and ‘learning’ mechanisms. The creation, accumulation, and diffusion of knowledge also rely upon different types of coordination enabled by face-to-face contacts (Storper and Venables 2004). Close proximity thus becomes a condition for the dissemination of informatio ...
state of the economy 2014
... Global Events and Their Impact on Canada’s Economy The year 2014 saw many global events straining the predictability of the world market. Early in the year, tensions between Russia and Ukraine pushed oil prices up past $110/barrel while the world held its breath. In the second half of 2014, reports ...
... Global Events and Their Impact on Canada’s Economy The year 2014 saw many global events straining the predictability of the world market. Early in the year, tensions between Russia and Ukraine pushed oil prices up past $110/barrel while the world held its breath. In the second half of 2014, reports ...
Figure 8-12 Responses of the Inflation Rate (p)
... that is why it is called expectations augmented Phillips curve. The adjustments of expectations. So far we assume that expectations are constant i.e., people never ...
... that is why it is called expectations augmented Phillips curve. The adjustments of expectations. So far we assume that expectations are constant i.e., people never ...
Growth, Distribution and Effective Demand: the supermultiplier
... distribution allows the existence of the equilibrium path and, therefore, such endogeneity provides the theoretical closure to bring about the adjustment between the rate of output growth and the rate of capital accumulation in these models. On the other hand, in neo-Kaleckian growth models income d ...
... distribution allows the existence of the equilibrium path and, therefore, such endogeneity provides the theoretical closure to bring about the adjustment between the rate of output growth and the rate of capital accumulation in these models. On the other hand, in neo-Kaleckian growth models income d ...
NBER WORKING PAPER SERIES STICKY INFORMATION: N. Gregory Mankiw
... the model implies that the change in inflation is positively correlated with the level of economic activity, which is the well-known "accelerationist Phillips curve." The model presented here encompasses the previous model--and thus these results--as a special case. In Section II we offer some new ...
... the model implies that the change in inflation is positively correlated with the level of economic activity, which is the well-known "accelerationist Phillips curve." The model presented here encompasses the previous model--and thus these results--as a special case. In Section II we offer some new ...
NBER WORKING PAPER SERIES INTERNATIONAL BORROWING TO FINANCE INVESTMENT Working Paper No. 1865
... Whether the country lends or borrows immediately depends upon whether the consumption goods sector is capital or labor iitensive. Thedytiam±hirav-io-r--of the current accouxit for an initially capital—pocr country is also derived. Our results contrast with those of previous studies of optimal indebt ...
... Whether the country lends or borrows immediately depends upon whether the consumption goods sector is capital or labor iitensive. Thedytiam±hirav-io-r--of the current accouxit for an initially capital—pocr country is also derived. Our results contrast with those of previous studies of optimal indebt ...
Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.In economics, ""economic growth"" or ""economic growth theory"" typically refers to growth of potential output, i.e., production at ""full employment"". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.