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section home - The Cambridge-INET Institute
... calibrating the model to the US economy at a quarterly frequency. In the baseline scenario, agents unexpectedly learn that labor productivity will temporarily fall in the consecutive period. Even though the shock is short-lived and reverts back within one quarter, output falls by 1.9 percent on impa ...
... calibrating the model to the US economy at a quarterly frequency. In the baseline scenario, agents unexpectedly learn that labor productivity will temporarily fall in the consecutive period. Even though the shock is short-lived and reverts back within one quarter, output falls by 1.9 percent on impa ...
AD-AS Short Run
... The slope of the AS curve is increasing because when output is low, firms typically have excess capacity. This means that output can be expanded without causing a large increase in unit costs. Therefore, only a small increase in price may be needed to induce them to expand production. Once output ge ...
... The slope of the AS curve is increasing because when output is low, firms typically have excess capacity. This means that output can be expanded without causing a large increase in unit costs. Therefore, only a small increase in price may be needed to induce them to expand production. Once output ge ...
Implications for the Australian Economy of Strong
... prices but have faced higher wages (at least in foreign currency terms) and a softening in demand. As well as promoting the reallocation of productive resources across the economy, the high exchange rate is one of the means by which all Australian consumers have been able to benefit from high commod ...
... prices but have faced higher wages (at least in foreign currency terms) and a softening in demand. As well as promoting the reallocation of productive resources across the economy, the high exchange rate is one of the means by which all Australian consumers have been able to benefit from high commod ...
SC-Economics Scope and Sequence
... Describe the factors that could cause a change in demand. Explain what causes a change in quantity demanded. Elasticity of Demand Analyze the elasticity of demand for a product. Explain why elasticity is a measure of responsiveness. Understand the factors that determine demand. Prices Combining Supp ...
... Describe the factors that could cause a change in demand. Explain what causes a change in quantity demanded. Elasticity of Demand Analyze the elasticity of demand for a product. Explain why elasticity is a measure of responsiveness. Understand the factors that determine demand. Prices Combining Supp ...
An analytical approach for elasticity of demand activation with
... expensive. The generation costs differential between the interconnected systems lessens this effect. A second analysis, which constitutes the novelty of this research, demonstrated that there exists an optimal region of price signal for which demand response leads to increase the social welfare. We ...
... expensive. The generation costs differential between the interconnected systems lessens this effect. A second analysis, which constitutes the novelty of this research, demonstrated that there exists an optimal region of price signal for which demand response leads to increase the social welfare. We ...
Study on Selection Index System of Leading Industries under
... highly advanced in terms of technology, have the functions of competing outside and driving development of regional industries, and can maintain strong innovation capacity and sustained section growth rate. Secondly, leading industries function well, able to become industries that can satisfy intern ...
... highly advanced in terms of technology, have the functions of competing outside and driving development of regional industries, and can maintain strong innovation capacity and sustained section growth rate. Secondly, leading industries function well, able to become industries that can satisfy intern ...
Labour or Total Factor Productivity: Do We Need to Choose?
... Canada’s rate of productivity growth is currently attracting great interest, not only from academics but also from journalists, policymakers and the Canadian public in general. Why productivity has been so slow in the 1990s, whether growth is now picking up, and whether Canada is falling behind the ...
... Canada’s rate of productivity growth is currently attracting great interest, not only from academics but also from journalists, policymakers and the Canadian public in general. Why productivity has been so slow in the 1990s, whether growth is now picking up, and whether Canada is falling behind the ...
Structural Adjustment and Soil Degradation in Tanzania. A CGE
... each input factor in the base year 1990. Agro-chemicals are imported and since the state had limited resources of foreign exchange, this lead to rationing of agro-chemicals. This rationing results in downward biased parameters for the input when we use the official prices. Hence, the productivity pa ...
... each input factor in the base year 1990. Agro-chemicals are imported and since the state had limited resources of foreign exchange, this lead to rationing of agro-chemicals. This rationing results in downward biased parameters for the input when we use the official prices. Hence, the productivity pa ...
Economics for Today 2nd edition Irvin B. Tucker
... • According to the Monetarist, how do we avoid Inflation and Unemployment? • Who is Milton Friedman? • What does Milton Friedman Advocate? • What is Classical Economists? • What is Keynesian Economists? • What is Monetarism? ...
... • According to the Monetarist, how do we avoid Inflation and Unemployment? • Who is Milton Friedman? • What does Milton Friedman Advocate? • What is Classical Economists? • What is Keynesian Economists? • What is Monetarism? ...
NBER WORKING PAPER SERIES MONEY DEMAND Peter N. Ireland
... made to fit the data from 1900-1994. Both of Lucas’ (2000) specifications (1) and (2) impose a unitary income elasticity of money demand by relating the interest rate terms ln(r) and r to the log of the money-income ratio ln(m). To make sure that the failure of the Phillips-Ouliaris (1990) tests su ...
... made to fit the data from 1900-1994. Both of Lucas’ (2000) specifications (1) and (2) impose a unitary income elasticity of money demand by relating the interest rate terms ln(r) and r to the log of the money-income ratio ln(m). To make sure that the failure of the Phillips-Ouliaris (1990) tests su ...
Bade_Parkin_Macro_Lecture_CH10
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
... aggregate hours comes from growth in the labor force rather than from growth in average hours per worker. While the participation rate has increased over the past few decades, it has an upper limit, and most of the growth of aggregate hours comes from population growth. So population growth is the o ...
Foreign Aid and its Impact on Income Inequality:
... economies is a possible reason for changes in inequality (Layton & Nielson, 2009; Alderson & Nielsen, 1999; Evans & Timberlake, 1980; Reuveny & Li, 2003). The intuition behind their logic is simple, the economy tends to produce more of the goods and services it has comparative advantage in, thus onl ...
... economies is a possible reason for changes in inequality (Layton & Nielson, 2009; Alderson & Nielsen, 1999; Evans & Timberlake, 1980; Reuveny & Li, 2003). The intuition behind their logic is simple, the economy tends to produce more of the goods and services it has comparative advantage in, thus onl ...
Outsourcing and Offshoring: Problems for Price and Productivity
... country. In addition to the Arkoloks et al. (2008) critique that these imports may displace domestic varieties, Krugman (2008) points out that there may be a problem of product aggregation in the data. With the growth of offshore outsourcing, imports of a particular product category from various cou ...
... country. In addition to the Arkoloks et al. (2008) critique that these imports may displace domestic varieties, Krugman (2008) points out that there may be a problem of product aggregation in the data. With the growth of offshore outsourcing, imports of a particular product category from various cou ...
CHAPTER 29: AGGREGATE DEMAND AND - jb
... imports and foreigners buy fewer U.S. exports. As a result, quantity demanded for U.S. goods falls at higher prices, and at lower prices, the quantity demanded is higher. Bear in Mind The aggregate demand-aggregate supply model is part of a free-response question on almost every AP macroeconomics e ...
... imports and foreigners buy fewer U.S. exports. As a result, quantity demanded for U.S. goods falls at higher prices, and at lower prices, the quantity demanded is higher. Bear in Mind The aggregate demand-aggregate supply model is part of a free-response question on almost every AP macroeconomics e ...
a resource curse - UCSB Economics - University of California, Santa
... the size of a parasitic noble class . . . while simultaneously siphoning off the most productive talent from business and commerce. ….. ...
... the size of a parasitic noble class . . . while simultaneously siphoning off the most productive talent from business and commerce. ….. ...
1 Government Size and Economic Growth in Emerging Market
... found that (1) the Ordinary Least Square OLS estimator has a non -negligible bias in finite samples (2) the Fully Modified OLS (FM -OLS) estimator does not improve over the OLS estimator in general, and (3) the DOLS estimator may be more promising than OLS or FM estimators in estimating the co integ ...
... found that (1) the Ordinary Least Square OLS estimator has a non -negligible bias in finite samples (2) the Fully Modified OLS (FM -OLS) estimator does not improve over the OLS estimator in general, and (3) the DOLS estimator may be more promising than OLS or FM estimators in estimating the co integ ...
Introduction to Minsky`s Stabilizing an Unstable Economy
... now well-known Kalecki relation, he did recognize that an investment boom could raise aggregate demand and spending (through the multiplier) and thus generate more sales than projected. Later, he explicitly incorporated the Kaleckian result that in the simplest model, aggregate profits equal investm ...
... now well-known Kalecki relation, he did recognize that an investment boom could raise aggregate demand and spending (through the multiplier) and thus generate more sales than projected. Later, he explicitly incorporated the Kaleckian result that in the simplest model, aggregate profits equal investm ...
Botswana: A Diamond in the Rough
... Discussion • Why were local institutions allowed to flourish? A- One of the main reasons why Botswana’s local institutions were allowed to flourish was that the British colonial powers had no interest in this ‘colonial backwater’...why? – 1966: Botswana gains independence » “Botswana is a poor coun ...
... Discussion • Why were local institutions allowed to flourish? A- One of the main reasons why Botswana’s local institutions were allowed to flourish was that the British colonial powers had no interest in this ‘colonial backwater’...why? – 1966: Botswana gains independence » “Botswana is a poor coun ...
Principles of Macro Economics - National Open University of Nigeria
... political environment of the country. Firstly, there are issues that are related to trends in macro variables, eg, the general trend in the economic activities of the country, investment climate, trends in output and employment, and price trends. These factors do not only determine the prospects of ...
... political environment of the country. Firstly, there are issues that are related to trends in macro variables, eg, the general trend in the economic activities of the country, investment climate, trends in output and employment, and price trends. These factors do not only determine the prospects of ...
MacroeconoMics for a Modern econoMy
... (at present output) – the sum of its payroll costs plus turnover costs. In terms of a later construct, the “wage curve” is lowered by firms’ underestimating what will be the going wage at their competitors.10 Such a lowering of the wage curve serves to lower firms’ cost curves, thus to lower the pr ...
... (at present output) – the sum of its payroll costs plus turnover costs. In terms of a later construct, the “wage curve” is lowered by firms’ underestimating what will be the going wage at their competitors.10 Such a lowering of the wage curve serves to lower firms’ cost curves, thus to lower the pr ...
Algeria
... employed among all countries surveyed in this study. On the other hand, poverty remains widespread – despite a relatively high per capita GDP – and unemployment rates are high, which is one of the fundamental socio-economic challenges facing the country. ...
... employed among all countries surveyed in this study. On the other hand, poverty remains widespread – despite a relatively high per capita GDP – and unemployment rates are high, which is one of the fundamental socio-economic challenges facing the country. ...
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.