Workshop 7 Monetary and Fiscal Policy
... Fiscal policy consists of changing government spending and tax revenues in order to promote full employment, price stability, and economic growth. ...
... Fiscal policy consists of changing government spending and tax revenues in order to promote full employment, price stability, and economic growth. ...
TSA Montenegro case
... The TSA was based upon application of derived travel and tourism ratios or weights to detailed sector’s breakdowns of the main items of the national income accounts – consumption, investment, government spending, exports, imports and employment The TSA was updated in December 2004 to add information ...
... The TSA was based upon application of derived travel and tourism ratios or weights to detailed sector’s breakdowns of the main items of the national income accounts – consumption, investment, government spending, exports, imports and employment The TSA was updated in December 2004 to add information ...
Economic Growth and Business Cycles: The Labor Supply Decision with Two Types of Technological Progress
... technology in the production of existing goods. In this case, one would expect increases in labor Keynesian notions of “ineffective demand”as underlying the business cycle. Not knowing what goods will exist in the future, as well as how intensely we will want them, implies that savings may not flow ...
... technology in the production of existing goods. In this case, one would expect increases in labor Keynesian notions of “ineffective demand”as underlying the business cycle. Not knowing what goods will exist in the future, as well as how intensely we will want them, implies that savings may not flow ...
The Adverse Effects of Government Spending in New Keynesian
... With identical households, the question who issues or buys the bonds arises In a model without investment, as is often used in the literature, this also implies zero aggregate ...
... With identical households, the question who issues or buys the bonds arises In a model without investment, as is often used in the literature, this also implies zero aggregate ...
Building blocks for equitable growth: lessons from the BRICS
... Brazil and China in the pre-1978 period had inclusivity as a priority. Unfortunately, South Africa, post-1978 China and India did not. In Brazil, the political economic context has inclusion as a priority. Indeed, principles of social inclusion are embedded in the Constitution, but are also protecte ...
... Brazil and China in the pre-1978 period had inclusivity as a priority. Unfortunately, South Africa, post-1978 China and India did not. In Brazil, the political economic context has inclusion as a priority. Indeed, principles of social inclusion are embedded in the Constitution, but are also protecte ...
chapter summary
... © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
Question addressed by so-called growth accounting
... Borrowing constraints are facts of life: They should increase aggregate saving in the economy, but may be an obstacle for small-business that may have profitable Read by yourselves (or lecture): investment projects that the banks might not want to lend money to because of imperfect information. The ...
... Borrowing constraints are facts of life: They should increase aggregate saving in the economy, but may be an obstacle for small-business that may have profitable Read by yourselves (or lecture): investment projects that the banks might not want to lend money to because of imperfect information. The ...
Extension: GNI and living standards
... standard of living, or the progress being made through economic growth. But to what extent can GDP or GNI provide a relative measure of living standards in different countries? When we look at this carefully, we realise that there are several issues that need to be addressed if such a comparison is ...
... standard of living, or the progress being made through economic growth. But to what extent can GDP or GNI provide a relative measure of living standards in different countries? When we look at this carefully, we realise that there are several issues that need to be addressed if such a comparison is ...
View/Open
... higher public investment expenditure manifest over time, through higher capital accumulation and improved productivity. Our findings reveal that higher public infrastructure investment not only positively impacts real GDP, but also reduces poverty and inequality in the short and long run. In this co ...
... higher public investment expenditure manifest over time, through higher capital accumulation and improved productivity. Our findings reveal that higher public infrastructure investment not only positively impacts real GDP, but also reduces poverty and inequality in the short and long run. In this co ...
relationship between currency depreciation and output growth in
... Under a Fixed Exchange Rate system, official changes in the value of a country’s currency relative to other currencies are called devaluation and revaluation. Whereas under Flexible Exchange Rate system, market forces generate changes in the value of the country’s currency are known as depreciation ...
... Under a Fixed Exchange Rate system, official changes in the value of a country’s currency relative to other currencies are called devaluation and revaluation. Whereas under Flexible Exchange Rate system, market forces generate changes in the value of the country’s currency are known as depreciation ...
Ecs1028 (1) - gimmenotes
... Production occurs, creates income; and all or part of the income is spent to buy goods and services. ...
... Production occurs, creates income; and all or part of the income is spent to buy goods and services. ...
NBER WORKING PAPER SERIES DISTANCE TO FRONTIER, SELECTION, AND ECONOMIC GROWTH
... Our analysis builds on the notion that this trade-off between investment-based and innovation-based strategies changes over the course of development, especially as an economy approaches the world technology frontier. Relatively backward economies can grow with an investment-based strategy. In contra ...
... Our analysis builds on the notion that this trade-off between investment-based and innovation-based strategies changes over the course of development, especially as an economy approaches the world technology frontier. Relatively backward economies can grow with an investment-based strategy. In contra ...
PDF Download
... Figure 1.8). This fiscal projecgap. The Taylor rule interest rate is a kind of benchmark interest ration is based on the assumption te. The rule is based on the idea that the central bank interest rate is that governments allow, to a managed in order to ensure price stability and keep output at norm ...
... Figure 1.8). This fiscal projecgap. The Taylor rule interest rate is a kind of benchmark interest ration is based on the assumption te. The rule is based on the idea that the central bank interest rate is that governments allow, to a managed in order to ensure price stability and keep output at norm ...
Estimating the Impact of Trade Specialization and Trade
... particularly as social groups that formerly benefited from a protectionist tariff regime are exposed to international competition – but that in the long run, the effects will depend on the growth potential of the economy and the role that national policies play. In this regard, policies and institu ...
... particularly as social groups that formerly benefited from a protectionist tariff regime are exposed to international competition – but that in the long run, the effects will depend on the growth potential of the economy and the role that national policies play. In this regard, policies and institu ...
The shadow economy in industrial countries
... data. Relative to official GDP, the shadow economies are much smaller in economically advanced Organisation for Economic Co-operation and Development (OECD) countries than in central and eastern European countries. Nevertheless, there are large differences even among the advanced OECD economies. Whe ...
... data. Relative to official GDP, the shadow economies are much smaller in economically advanced Organisation for Economic Co-operation and Development (OECD) countries than in central and eastern European countries. Nevertheless, there are large differences even among the advanced OECD economies. Whe ...
NBER WORKING PAPER SERIES FROM “HINDU GROWTH” TO PRODUCTIVITY SURGE:
... consequence of re-allocation of resources from low-productivity (agriculture) to higher productivity (manufacturing and services) or was there a trend improvement in the performance of individual sectors? There has been a substantial structural change in the composition of the labor force employed i ...
... consequence of re-allocation of resources from low-productivity (agriculture) to higher productivity (manufacturing and services) or was there a trend improvement in the performance of individual sectors? There has been a substantial structural change in the composition of the labor force employed i ...
Study questions for Macroeconomics
... supports Smith's perspective concerning the benevolence of "the invisible hand" and one that does not. Name Smith's most famous work. When was it published? Define and give an example of opportunity cost. Distinguish between microeconomics and macroeconomics. Distinguish between "standard of living" ...
... supports Smith's perspective concerning the benevolence of "the invisible hand" and one that does not. Name Smith's most famous work. When was it published? Define and give an example of opportunity cost. Distinguish between microeconomics and macroeconomics. Distinguish between "standard of living" ...
From Hindu Growth to Productivity Surge: The Mystery of the
... consequence of re-allocation of resources from low-productivity (agriculture) to higher productivity (manufacturing and services) or was there a trend improvement in the performance of individual sectors? There has been a substantial structural change in the composition of the labor force employed i ...
... consequence of re-allocation of resources from low-productivity (agriculture) to higher productivity (manufacturing and services) or was there a trend improvement in the performance of individual sectors? There has been a substantial structural change in the composition of the labor force employed i ...
Income Skewness, Redistribution and Growth
... On the empirical side Milanovic (2000) recently found some corroborating evidence in favor of the original political economy mechanism, using survey data from the LIS, and, adopting a fixed effects approach: The income share of the "middle class" is significant in explaining the amount of redistribu ...
... On the empirical side Milanovic (2000) recently found some corroborating evidence in favor of the original political economy mechanism, using survey data from the LIS, and, adopting a fixed effects approach: The income share of the "middle class" is significant in explaining the amount of redistribu ...
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.