The Depressing Effect of Agricultural Institutions on the Prewar
... paper’s model that agricultural goods cannot be used as an investment good. See app. 1 of Hayashi and Prescott (2006) for more details on how we defined real output Y and the real capital stock K. Employment and hours worked are not adjusted for quality. The initial year for the postwar period is ta ...
... paper’s model that agricultural goods cannot be used as an investment good. See app. 1 of Hayashi and Prescott (2006) for more details on how we defined real output Y and the real capital stock K. Employment and hours worked are not adjusted for quality. The initial year for the postwar period is ta ...
to a PDF of this article which includes
... Through its November press release, members of the FOMC publicly announced that they had agreed not to make changes to the existing federal funds rate (at 0 to ¼ percent) and anticipated that future economic conditions will likely mandate that the federal funds rate remain at abnormally low levels t ...
... Through its November press release, members of the FOMC publicly announced that they had agreed not to make changes to the existing federal funds rate (at 0 to ¼ percent) and anticipated that future economic conditions will likely mandate that the federal funds rate remain at abnormally low levels t ...
The Effects of Natural Disasters on Long Run Growth Aaron Popp
... Substitution away from physical capital accumulation may have a net positive effect on human capital accumulation despite the factors discussed above. Since the risk to physical capital increases because of natural disasters, investment in human capital becomes relatively more attractive. People and ...
... Substitution away from physical capital accumulation may have a net positive effect on human capital accumulation despite the factors discussed above. Since the risk to physical capital increases because of natural disasters, investment in human capital becomes relatively more attractive. People and ...
- Munich Personal RePEc Archive
... be the most affected by financial market imperfections, such as information asymmetries, moral hazard problems, contract enforcement costs, and higher transactions costs”. There are other channels through which financial development may increase income inequality. For example, Dollar and Kraay (200 ...
... be the most affected by financial market imperfections, such as information asymmetries, moral hazard problems, contract enforcement costs, and higher transactions costs”. There are other channels through which financial development may increase income inequality. For example, Dollar and Kraay (200 ...
Office for Budget Responsibility - Economic and fiscal outlook March
... announced a net tax increase of £6.3 billion in 2019-20, although across the forecast as a whole Budget tax measures reduce receipts by £0.7 billion a year on average. All but £300 million of this increase reflects the Government’s decision to delay the July Budget measure that brings forward the ti ...
... announced a net tax increase of £6.3 billion in 2019-20, although across the forecast as a whole Budget tax measures reduce receipts by £0.7 billion a year on average. All but £300 million of this increase reflects the Government’s decision to delay the July Budget measure that brings forward the ti ...
Ch26 Neoclassical Perspective Multiple Choice Questions 1
... A. Lower wages will cause an economy-wide increase in the price of a key input. B. Because wages are flexible, they are unaffected by high rates of unemployment. C. A surge in aggregate demand ends up as a rise in output, but does not increase price levels. D. The economy cannot sustain production a ...
... A. Lower wages will cause an economy-wide increase in the price of a key input. B. Because wages are flexible, they are unaffected by high rates of unemployment. C. A surge in aggregate demand ends up as a rise in output, but does not increase price levels. D. The economy cannot sustain production a ...
Government Chapter 7
... First, are governments in Europe bigger than elsewhere? Yes. Governments in Europe spend about 10 percent of GDP more than their peers. Differences in government size within Europe and between Europe and its peers are largely explained by social spending. In 2010, countries in Western Europe spent 9 ...
... First, are governments in Europe bigger than elsewhere? Yes. Governments in Europe spend about 10 percent of GDP more than their peers. Differences in government size within Europe and between Europe and its peers are largely explained by social spending. In 2010, countries in Western Europe spent 9 ...
If GT =0, Debt/GDP increases if the r > growth rate of GDP
... the long run. 2. Higher nominal wages or temporary higher oil prices increases the price level and decreases output in the short run but have no effect in the long run. 9.1. Keynesian model in the short run= Prices are fixed. The SRAS-curve is horizontal. Aggregate demand determines production. 9.1. ...
... the long run. 2. Higher nominal wages or temporary higher oil prices increases the price level and decreases output in the short run but have no effect in the long run. 9.1. Keynesian model in the short run= Prices are fixed. The SRAS-curve is horizontal. Aggregate demand determines production. 9.1. ...
An impact analysis of climate change and adaptation policies
... of dynamic models are found in the literature. First, the recursive dynamic models which do not include rational expectation by consumers, producers and the government. Then others have drawn from the macro dynamic literature to propose forward looking dynamic CGE models with rational expectations a ...
... of dynamic models are found in the literature. First, the recursive dynamic models which do not include rational expectation by consumers, producers and the government. Then others have drawn from the macro dynamic literature to propose forward looking dynamic CGE models with rational expectations a ...
Labour reallocation and productivity dynamics: financial causes, real
... Armed with these decompositions, we use a series of panel techniques to dissect the impact of credit booms on productivity growth. We first explore the impact of credit booms on the productivity components as the booms proceed. We then examine the impact of the various productivity components during ...
... Armed with these decompositions, we use a series of panel techniques to dissect the impact of credit booms on productivity growth. We first explore the impact of credit booms on the productivity components as the booms proceed. We then examine the impact of the various productivity components during ...
EURURALIS 2.0
... assessment of driving factors and impacts. Therefore, the three models LEITAP, IMAGE and CLUE-s are linked together to account for the structure of land-use change processes (Figure 2). The demand for agricultural land in Europe is dependent on global developments in food consumption and agricultura ...
... assessment of driving factors and impacts. Therefore, the three models LEITAP, IMAGE and CLUE-s are linked together to account for the structure of land-use change processes (Figure 2). The demand for agricultural land in Europe is dependent on global developments in food consumption and agricultura ...
T 2 A Tour of the Book
... of the increase reflected an increase in prices, rather than an increase in quantities produced. This leads often use ‘nominal’ to to the distinction between nominal GDP and real GDP. denote small amounts. Nominal GDP is the sum of the quantities of final goods produced times their current price. Th ...
... of the increase reflected an increase in prices, rather than an increase in quantities produced. This leads often use ‘nominal’ to to the distinction between nominal GDP and real GDP. denote small amounts. Nominal GDP is the sum of the quantities of final goods produced times their current price. Th ...
Eastern European Outlook, March 2015
... sharply from 3.2 per cent in 2013. The energy price decline was broad-based and the largest in 20 years. Price increases for food and other agricultural products were extremely weak and were held down to some extent by over-supply due to the Russian import ban that started in August and is scheduled ...
... sharply from 3.2 per cent in 2013. The energy price decline was broad-based and the largest in 20 years. Price increases for food and other agricultural products were extremely weak and were held down to some extent by over-supply due to the Russian import ban that started in August and is scheduled ...
Lecture_8_chap09_10_11
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
Sachs and Warner_1995_Development Economics
... countries can import capital and modern technologies from the wealthier countries, and thereby reap the "advantages of backwardness." Yet in recent decades, there has been no overall tendency for the poorer countries to catch up, or converge, with the richer countries. We show that this problem is r ...
... countries can import capital and modern technologies from the wealthier countries, and thereby reap the "advantages of backwardness." Yet in recent decades, there has been no overall tendency for the poorer countries to catch up, or converge, with the richer countries. We show that this problem is r ...
NBER WORKING PAPER SERIES PRODUCTIVITY GROWTH AND CAPITAL FLOWS: Francisco J. Buera
... the idiosyncratic non-financial distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. We think of financial frictions ...
... the idiosyncratic non-financial distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. We think of financial frictions ...
PDF
... need to ascertain the two sectors’ productivity correlation. For instance, incentives such as tax reduction, import restrictions, tariff adjustment, reduction in excise duty and the liberalization of the industrial sector as well as various monetary policies are among several interventions governmen ...
... need to ascertain the two sectors’ productivity correlation. For instance, incentives such as tax reduction, import restrictions, tariff adjustment, reduction in excise duty and the liberalization of the industrial sector as well as various monetary policies are among several interventions governmen ...
Exercises for Chapter 23
... by law firms must pay out all their revenue as income to someone. b. for every sale there is a buyer and a seller. c. because ultimately firms are owned by households. d. None of the above are correct. ANSWER: b. for every sale there is a buyer and a seller. 3. Which of the following is not included ...
... by law firms must pay out all their revenue as income to someone. b. for every sale there is a buyer and a seller. c. because ultimately firms are owned by households. d. None of the above are correct. ANSWER: b. for every sale there is a buyer and a seller. 3. Which of the following is not included ...
HSTCQE*cgibjh+ - Region Västerbotten
... whole. In this period, growth in labour productivity, and to a lesser extent the employment rate, were key drivers of economic performance. Västerbotten’s rate of productivity growth 19992012 was 1.3% on average, which was 0.22% higher than the national rate for this period. However, it was below bo ...
... whole. In this period, growth in labour productivity, and to a lesser extent the employment rate, were key drivers of economic performance. Västerbotten’s rate of productivity growth 19992012 was 1.3% on average, which was 0.22% higher than the national rate for this period. However, it was below bo ...
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.