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The Wealth Effect of Chinese Household Assets and Its Influence... Consumption Demand
... At present, the rapidity of economic growth in China is slower. The weakness of economic growth driving of consumption demand emerges. Based on consumption function, this paper uses cointegration theory and Vector Error Correction model which are based on VAR model and combines Granger Causality Tes ...
... At present, the rapidity of economic growth in China is slower. The weakness of economic growth driving of consumption demand emerges. Based on consumption function, this paper uses cointegration theory and Vector Error Correction model which are based on VAR model and combines Granger Causality Tes ...
Box 3 Deflation - Central Bank of Iceland
... 1½% last year, and excluding its housing and service components the increase was a mere 0.3%. So what is deflation? What is the likelihood of it occurring in the industrialised countries? How can deflation be avoided and what is the most effective response if it occurs? The following is a brief atte ...
... 1½% last year, and excluding its housing and service components the increase was a mere 0.3%. So what is deflation? What is the likelihood of it occurring in the industrialised countries? How can deflation be avoided and what is the most effective response if it occurs? The following is a brief atte ...
Economic performance and government size
... affect economic development and growth in many countries. However, despite necessary, government intervention is not a sufficient condition for prosperity, if it leads to the monopolization of the allocation of resources and other important economic decisions, and societies do not succeeded in attai ...
... affect economic development and growth in many countries. However, despite necessary, government intervention is not a sufficient condition for prosperity, if it leads to the monopolization of the allocation of resources and other important economic decisions, and societies do not succeeded in attai ...
Why Has the Unemployment Rate Fared Better than GDP Growth?
... A long tradition of macroeconomics speaks of cyclical and non-cyclical movements of aggregate variables. Many macroeconomists have viewed the distinction as one of frequency— the cycle moves at frequencies up to a few years and the non-cycle is slower-moving influences, including productivity growth ...
... A long tradition of macroeconomics speaks of cyclical and non-cyclical movements of aggregate variables. Many macroeconomists have viewed the distinction as one of frequency— the cycle moves at frequencies up to a few years and the non-cycle is slower-moving influences, including productivity growth ...
this PDF file
... endogeneity of the government expenditure variable and therefore no evidence of a significant effect of government spending on economic growth. Other studies that report no evidence of a significant relationship between government spending and economic growth are Kormendi and Meguire (1985) and Sala ...
... endogeneity of the government expenditure variable and therefore no evidence of a significant effect of government spending on economic growth. Other studies that report no evidence of a significant relationship between government spending and economic growth are Kormendi and Meguire (1985) and Sala ...
A Multi-sector Model of the Australian Economy Research Discussion
... forecasting ability is not always a good criterion for judging a model’s success. For example, if monetary policy responds aggressively to deviations of inflation and output from their target levels, the predictability of macroeconomic outcomes should be low (Benati and Surico 2008). In such an envi ...
... forecasting ability is not always a good criterion for judging a model’s success. For example, if monetary policy responds aggressively to deviations of inflation and output from their target levels, the predictability of macroeconomic outcomes should be low (Benati and Surico 2008). In such an envi ...
NBER WORKING PAPER SERIES PROPAGATION OF SECTORAL SHOCKS Russell Cooper John Haltiwanger
... However, the effect on employment may be ambiguous due to offsetting income and substitution effects. ...
... However, the effect on employment may be ambiguous due to offsetting income and substitution effects. ...
SEE 2020 Presentation
... Source: World Bank data used for 2000-2009.Data submitted by SEE economies for 2010 only. Eurostat data used for Bosnia and Herzegovina and Croatia due to discrepancy between national and Eurostat sources. Averages weighted by population. Data labels show the average for 2010 No data submitted for K ...
... Source: World Bank data used for 2000-2009.Data submitted by SEE economies for 2010 only. Eurostat data used for Bosnia and Herzegovina and Croatia due to discrepancy between national and Eurostat sources. Averages weighted by population. Data labels show the average for 2010 No data submitted for K ...
NBER WORKING PAPER SERIES IDEAS AND EDUCATION: LEVEL OR GROWTH EFFECTS? Steve Dowrick
... term diminishes to zero as the level of human capital, ht, increases over time. (This is exactly what happens to the physical capital term, as a given investment rate leads to slower and slower proportional growth in the stock.) But if there is sufficiently high feedback in human capital accumulatio ...
... term diminishes to zero as the level of human capital, ht, increases over time. (This is exactly what happens to the physical capital term, as a given investment rate leads to slower and slower proportional growth in the stock.) But if there is sufficiently high feedback in human capital accumulatio ...
click - Yale Economics
... In answering this question, I turn to long-term data on productivity growth for the United States. The most appropriate data for such comparisons are data on productivity per hour in the non-farm sector, which are available back to 1889. There are some serious concerns about the historical comparabi ...
... In answering this question, I turn to long-term data on productivity growth for the United States. The most appropriate data for such comparisons are data on productivity per hour in the non-farm sector, which are available back to 1889. There are some serious concerns about the historical comparabi ...
Why Growth Is Getting Harder Executive Summary by Brink Lindsey No. 737
... Nevertheless, it is difficult to resist the conclusion that the conditions for growth are less favorable than they used to be. The rise in labor participation during the 20th century was a one-time achievement that cannot be replicated on the same scale. Likewise with the rise in formal schooling: t ...
... Nevertheless, it is difficult to resist the conclusion that the conditions for growth are less favorable than they used to be. The rise in labor participation during the 20th century was a one-time achievement that cannot be replicated on the same scale. Likewise with the rise in formal schooling: t ...
PDF
... The paper examines the possibilities of using trade policy to address the adverse economic effects of an avian influenza outbreak in the Philippines. In particular, it employs a computable general equilibrium (CGE) model for analyzing the likely effects of two options; namely, a) a ban on imported p ...
... The paper examines the possibilities of using trade policy to address the adverse economic effects of an avian influenza outbreak in the Philippines. In particular, it employs a computable general equilibrium (CGE) model for analyzing the likely effects of two options; namely, a) a ban on imported p ...
Core` and Periphery` in the World Economy: An
... classical, structural and dependency views.1 Under the classical view are included different versions of the mainstream economic theory, including the neoclassical development economics and the theories of stages of economic growth. The classical approach shares the basic optimism that the world eco ...
... classical, structural and dependency views.1 Under the classical view are included different versions of the mainstream economic theory, including the neoclassical development economics and the theories of stages of economic growth. The classical approach shares the basic optimism that the world eco ...
NBER WOR}(ING PAPERS SERIES MONEY, INTEREST AND PRICES Stanley Fischer
... is only a single present value budget constraint, in which the present value of consumption has to be equal to the value of the individual's asset holdings the present value of non—asset income. ...
... is only a single present value budget constraint, in which the present value of consumption has to be equal to the value of the individual's asset holdings the present value of non—asset income. ...
Slide
... Other Determinants of Consumption The assumption that consumption depends only on income is obviously a simplification. ...
... Other Determinants of Consumption The assumption that consumption depends only on income is obviously a simplification. ...
Model for Analysis and Simulations (MAS)
... The impulse-response functions of the benchmark model are compared with three alternative specifications that remove three rigidities one-by-one: sticky wages, investment adjustment cost, and habit formation in consumption. From this exercise we conclude that both investment and consumption inertia ...
... The impulse-response functions of the benchmark model are compared with three alternative specifications that remove three rigidities one-by-one: sticky wages, investment adjustment cost, and habit formation in consumption. From this exercise we conclude that both investment and consumption inertia ...
Investing in emerging markets: Evaluating the allure of
... We discuss how the long-term relationship between economic growth and stock returns is influenced by several factors, including the composition of—and capital claims on—a country’s GDP growth, how a country’s actual growth compares to prior market expectations, and, most importantly, the price inves ...
... We discuss how the long-term relationship between economic growth and stock returns is influenced by several factors, including the composition of—and capital claims on—a country’s GDP growth, how a country’s actual growth compares to prior market expectations, and, most importantly, the price inves ...
Alternative Methods for Measuring Productivity Growth Including
... goods, i = 1,... n. We do not assume any particular form for U, but we do assume that the utility function is smooth and homothetic. Under this assumption, we can construct indexes of real income changes by taking the weighted average growth of individual components. It will be convenient to simplif ...
... goods, i = 1,... n. We do not assume any particular form for U, but we do assume that the utility function is smooth and homothetic. Under this assumption, we can construct indexes of real income changes by taking the weighted average growth of individual components. It will be convenient to simplif ...
essen-ch24-presentat..
... aggregate-demand curve slopes downward: An increase in the price level raises money demand, which raises the interest rate, which reduces investment, which reduces the aggregate quantity of goods & services demanded. ...
... aggregate-demand curve slopes downward: An increase in the price level raises money demand, which raises the interest rate, which reduces investment, which reduces the aggregate quantity of goods & services demanded. ...
essen-ch24-presentat..
... aggregate-demand curve slopes downward: An increase in the price level raises money demand, which raises the interest rate, which reduces investment, which reduces the aggregate quantity of goods & services demanded. ...
... aggregate-demand curve slopes downward: An increase in the price level raises money demand, which raises the interest rate, which reduces investment, which reduces the aggregate quantity of goods & services demanded. ...
The Concept of Scale and Its Relation to Allocation, Distribution, and
... favorable evaluation of our work, even if they, like us, may not be representative of the majority of their disciplines. Occasionally it is good to try to see ourselves as others see us. While it remains true that a small fraction of all economists agree with ecological economics, we must remember t ...
... favorable evaluation of our work, even if they, like us, may not be representative of the majority of their disciplines. Occasionally it is good to try to see ourselves as others see us. While it remains true that a small fraction of all economists agree with ecological economics, we must remember t ...
Ragnar Nurkse's balanced growth theory
The balanced growth theory is an economic theory pioneered by the economist Ragnar Nurkse (1907–1959). The theory hypothesises that the government of any underdeveloped country needs to make large investments in a number of industries simultaneously. This will enlarge the market size, increase productivity, and provide an incentive for the private sector to invest.Nurkse was in favour of attaining balanced growth in both the industrial and agricultural sectors of the economy. He recognised that the expansion and inter-sectoral balance between agriculture and manufacturing is necessary so that each of these sectors provides a market for the products of the other and in turn, supplies the necessary raw materials for the development and growth of the other.Nurkse and Paul Rosenstein-Rodan were the pioneers of balanced growth theory and much of how it is understood today dates back to their work.Nurkse's theory discusses how the poor size of the market in underdeveloped countries perpetuates its underdeveloped state. Nurkse has also clarified the various determinants of the market size and puts primary focus on productivity. According to him, if the productivity levels rise in a less developed country, its market size will expand and thus it can eventually become a developed economy. Apart from this, Nurkse has been nicknamed an export pessimist, as he feels that the finances to make investments in underdeveloped countries must arise from their own domestic territory. No importance should be given to promoting exports.