L3_20110311
... • The financial system is made up of financial institutions such as the bond market, the stock market, banks, and investment funds. • All these institutions act to direct the resources of households who want to save some of their income into the hands of households and firms who want to borrow. • Be ...
... • The financial system is made up of financial institutions such as the bond market, the stock market, banks, and investment funds. • All these institutions act to direct the resources of households who want to save some of their income into the hands of households and firms who want to borrow. • Be ...
From the Malthusian regime to the demographic transition
... There are several factors that have crucial effects on fertility levels and their trends. Several authors have studied the relationship between fertility, population and economic growth and its consequences for development and well-being. Recent literature considers the mortality rate as an endogeno ...
... There are several factors that have crucial effects on fertility levels and their trends. Several authors have studied the relationship between fertility, population and economic growth and its consequences for development and well-being. Recent literature considers the mortality rate as an endogeno ...
Document
... • Information on this trade-off rate (if it could be gathered) would require large expenditures by a government ...
... • Information on this trade-off rate (if it could be gathered) would require large expenditures by a government ...
Part II Complex Economic Dynamics: Agent
... decentralized market economy are those that result from observing the behavior of trading partners. This experience is the sole basis for a trader’s updating his private price vector, and equilibrium can be achieved only if plausible models of inference and updating lead private prices to converge t ...
... decentralized market economy are those that result from observing the behavior of trading partners. This experience is the sole basis for a trader’s updating his private price vector, and equilibrium can be achieved only if plausible models of inference and updating lead private prices to converge t ...
Chapter 10
... Technological change lowers costs, raises labor productivity, and brings new and profitable products. But to implement these new technologies, firms must first invest in the equipment that uses them. Therefore, technological advances cause an increase in the quantity of funds demanded for investmen ...
... Technological change lowers costs, raises labor productivity, and brings new and profitable products. But to implement these new technologies, firms must first invest in the equipment that uses them. Therefore, technological advances cause an increase in the quantity of funds demanded for investmen ...
Out of the Shadows: Measuring Informal Economic Activity
... labor market, the costs that firms (and individuals) have to pay when “officially” hiring someone have been increased tremendously by the burden of tax and social contributions on wages, as well as by the legal administrative regulations that control economic activities. In various OECD countries, t ...
... labor market, the costs that firms (and individuals) have to pay when “officially” hiring someone have been increased tremendously by the burden of tax and social contributions on wages, as well as by the legal administrative regulations that control economic activities. In various OECD countries, t ...
Modern Macro Economics
... Starting at full employment, an increase in the supply of money from Ms0 to Ms1 will initially reduce interest rates from rF to r0 (from point a to point b) and raise investment spending from IF to I0 (point c to point d). We show these changes with the red arrows. The blue arrows show that as the p ...
... Starting at full employment, an increase in the supply of money from Ms0 to Ms1 will initially reduce interest rates from rF to r0 (from point a to point b) and raise investment spending from IF to I0 (point c to point d). We show these changes with the red arrows. The blue arrows show that as the p ...
Technological upgrading in the Eastern Mediterranean
... Many of the failures in economic development in recent years involve countries getting stuck at the juncture between development stages. For example, some countries successfully master the initial stage of commodity-based growth, but then fail to make the transition to technology imports and globali ...
... Many of the failures in economic development in recent years involve countries getting stuck at the juncture between development stages. For example, some countries successfully master the initial stage of commodity-based growth, but then fail to make the transition to technology imports and globali ...
Consumption And Demand For Goods
... Based on objective and subjective factors, Keynes argues that a high proportion of income is saved when the income rises above the level necessary to satisfy the basic needs of the individual and his family. If this is diminished to a very low level, consumption can be reduced to less than this and ...
... Based on objective and subjective factors, Keynes argues that a high proportion of income is saved when the income rises above the level necessary to satisfy the basic needs of the individual and his family. If this is diminished to a very low level, consumption can be reduced to less than this and ...
Turkish Middle Income Trap and Less Skilled Human Capital September 2014
... rich world. As they mature, their comparative advantage in labor intensive commodities disappears as surplus labor declines and real wages increase. But since they aren’t equipped with capabilities to produce knowledge and innovation intensive commodities to compete with high skilled manufacturers i ...
... rich world. As they mature, their comparative advantage in labor intensive commodities disappears as surplus labor declines and real wages increase. But since they aren’t equipped with capabilities to produce knowledge and innovation intensive commodities to compete with high skilled manufacturers i ...
Principles of Economics, Case and Fair,9e
... An increase in GDP can come about through: a. An increase in the labor supply. b. An increase in physical or human capital. c. An increase in productivity (the amount of product produced by each unit of capital or labor). d. All of the above. ...
... An increase in GDP can come about through: a. An increase in the labor supply. b. An increase in physical or human capital. c. An increase in productivity (the amount of product produced by each unit of capital or labor). d. All of the above. ...
South-South Cooperation for Development of Small and Medium
... The potential of SMEs to promote domestic-led growth in new and existing industries and to strengthen the resilience of the economy in a competitive and challenging environment are inarguable Economic growth in developed countries such as China, Japan, South Korea, Taiwan and many others, were s ...
... The potential of SMEs to promote domestic-led growth in new and existing industries and to strengthen the resilience of the economy in a competitive and challenging environment are inarguable Economic growth in developed countries such as China, Japan, South Korea, Taiwan and many others, were s ...
Provincial Outlook
... No reprieve from challenging economic conditions Another leg down in crude oil prices this summer is aggravating the already challenging conditions afflicting Alberta’s economy and contributing to a more pronounced and widespread negative hit to economic growth than we had assumed in our June foreca ...
... No reprieve from challenging economic conditions Another leg down in crude oil prices this summer is aggravating the already challenging conditions afflicting Alberta’s economy and contributing to a more pronounced and widespread negative hit to economic growth than we had assumed in our June foreca ...
living better on less? toward an economics of
... 2. THE INCOME-HAPPINESS PARADOX: IS MORE ALWAYS BETTER? ...
... 2. THE INCOME-HAPPINESS PARADOX: IS MORE ALWAYS BETTER? ...
PRACTICE ECON 202
... A) bowed out from the origin because of increasing opportunity costs. B) bowed in toward the origin because of increasing opportunity costs. C) bowed in toward the origin because of constant cost of guns and butter. D) linear because of constant costs. Ans: A Level: M Page: 24 Topic: Trade-offs: The ...
... A) bowed out from the origin because of increasing opportunity costs. B) bowed in toward the origin because of increasing opportunity costs. C) bowed in toward the origin because of constant cost of guns and butter. D) linear because of constant costs. Ans: A Level: M Page: 24 Topic: Trade-offs: The ...
ECONOMIC GROWTH, BALANCE OF PAYMENTS AND
... rise in accordance with the rate of inflation of those countries, and these push up the cost of production. The second is, the rate of inflation in 'foreign countries which is higher than in Japan, Japanese exports increase, and the balance of trade improves. It also increases the effecti ve demand ...
... rise in accordance with the rate of inflation of those countries, and these push up the cost of production. The second is, the rate of inflation in 'foreign countries which is higher than in Japan, Japanese exports increase, and the balance of trade improves. It also increases the effecti ve demand ...
Price Elasticity of Demand (PED) - Business-TES
... At peak times, the demand for rail transport becomes inelastic – and higher prices are charged by rail companies who can then achieve higher revenues and profits. The number of close substitutes for a good / uniqueness of the product – the more close substitutes in the market, the more elastic is ...
... At peak times, the demand for rail transport becomes inelastic – and higher prices are charged by rail companies who can then achieve higher revenues and profits. The number of close substitutes for a good / uniqueness of the product – the more close substitutes in the market, the more elastic is ...
Some Definitions and Preliminaries
... quality has improved. E.g. 50 years ago the first microwave oven was marketed in the US - it weighed about 350 kilos and was 5 feet 6 inches tall. Today, they are much commoner and more efficient. Recently it has been suggested that, in the US and possibly in other countries too, the imperfect treat ...
... quality has improved. E.g. 50 years ago the first microwave oven was marketed in the US - it weighed about 350 kilos and was 5 feet 6 inches tall. Today, they are much commoner and more efficient. Recently it has been suggested that, in the US and possibly in other countries too, the imperfect treat ...
Model 3: with Interest Rates
... • However, if aggregate demand begins to increase at a faster rate because of, say, an increase in household consumption, then I must also increase. • After all, firms must invest in extra machinery in order to produce the additional goods demanded by households. ...
... • However, if aggregate demand begins to increase at a faster rate because of, say, an increase in household consumption, then I must also increase. • After all, firms must invest in extra machinery in order to produce the additional goods demanded by households. ...
ET`s AD-AS Ppt1
... • When the inflation rate is greater than anticipated, this implies a higher than anticipated price level. As a result, profit margins will be attractive and business firms will respond with an expansion in output. • When the inflation rate is less than anticipated, this implies a lower than anticip ...
... • When the inflation rate is greater than anticipated, this implies a higher than anticipated price level. As a result, profit margins will be attractive and business firms will respond with an expansion in output. • When the inflation rate is less than anticipated, this implies a lower than anticip ...
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.