![Abstract - Brad DeLong](http://s1.studyres.com/store/data/010829847_1-d6323454e4fdf28361fcbb7578ec4b48-300x300.png)
Abstract - Brad DeLong
... this exercise are striking: they suggest that the growth contribution of ICT in the past 25 years has exceeeded that of steam and at least matched that of electricity over comparable periods and that the true paradox is why more should have been expected of ICT. A straightforward generalization of t ...
... this exercise are striking: they suggest that the growth contribution of ICT in the past 25 years has exceeeded that of steam and at least matched that of electricity over comparable periods and that the true paradox is why more should have been expected of ICT. A straightforward generalization of t ...
2) The misery index in 1980 exceeded 25.
... 1. Locate this change in conditions as point B on the production function you drew in part 1b above. 2. (10 points for correct and completely labeled diagram with points A, B, C, and D) Now construct a supply curve as we did in lecture with point A representing the original price – output combinati ...
... 1. Locate this change in conditions as point B on the production function you drew in part 1b above. 2. (10 points for correct and completely labeled diagram with points A, B, C, and D) Now construct a supply curve as we did in lecture with point A representing the original price – output combinati ...
1997-40
... US$2.6 billion. The improvement reflected an even greater improvement in Malaysia’s resource balance, i.e. its balance of trade in goods and services. From a deficit of US$2.4 billion in 1982, the resource balance moved in a consistently favourable manner to reach a surplus of US$4.5 billion in 1987 ...
... US$2.6 billion. The improvement reflected an even greater improvement in Malaysia’s resource balance, i.e. its balance of trade in goods and services. From a deficit of US$2.4 billion in 1982, the resource balance moved in a consistently favourable manner to reach a surplus of US$4.5 billion in 1987 ...
Economic Growth
... The role of the financial sector is to make funds saved by households available for firms to borrow for investment activities ...
... The role of the financial sector is to make funds saved by households available for firms to borrow for investment activities ...
Accounting for the ‘Little Divergence’
... The Industrial Revolution is arguably the most important break in global economic history, separating a world of at best very modest improvements in real incomes from the period of ‘modern economic growth’ characterized by rapid growth of GDP per capita. The debate about this phenomenon has recently ...
... The Industrial Revolution is arguably the most important break in global economic history, separating a world of at best very modest improvements in real incomes from the period of ‘modern economic growth’ characterized by rapid growth of GDP per capita. The debate about this phenomenon has recently ...
Final Exam Review Questions and Answers. Lecture Week 4 (6
... What is government expenditure multiplier, tax multiplier and transfer payment multiplier? Government expenditure multiplier shows the effect of a change in government expenditure (G) on aggregate demand (AD). The value of government expenditure multiplier is always positive and more than 1. Tax mul ...
... What is government expenditure multiplier, tax multiplier and transfer payment multiplier? Government expenditure multiplier shows the effect of a change in government expenditure (G) on aggregate demand (AD). The value of government expenditure multiplier is always positive and more than 1. Tax mul ...
Sources of Growth in Latin America
... • Total factor productivity and technology often used interchangeably – output beyond what would be expected from increases in labor or capital stock alone • Holding capital stock (K) and technology (TFP) constant and increasing labor will produce increased output at a ...
... • Total factor productivity and technology often used interchangeably – output beyond what would be expected from increases in labor or capital stock alone • Holding capital stock (K) and technology (TFP) constant and increasing labor will produce increased output at a ...
The Emperor Has New Clothes Mainstream Theories of Economic Growth .
... The chief elements of natural capital included here are forestry, mining (metals and minerals) and agricultural land. Forest area fell to the 1920s but rose over the next half-century to peak at around 300 million hectares in the early 1970s. The standing value of the trees also fell to the 1920s bu ...
... The chief elements of natural capital included here are forestry, mining (metals and minerals) and agricultural land. Forest area fell to the 1920s but rose over the next half-century to peak at around 300 million hectares in the early 1970s. The standing value of the trees also fell to the 1920s bu ...
Economics for Today 2nd edition Irvin B. Tucker
... Monetarists’ and Keynesians’ views on fiscal policy are also different. Keynesians believe the aggregate supply curve is relatively flat, and monetarists view it as relatively vertical. Because the crowding out effect is large, monetarists assert that fiscal policy is ineffective. Keynesians argue ...
... Monetarists’ and Keynesians’ views on fiscal policy are also different. Keynesians believe the aggregate supply curve is relatively flat, and monetarists view it as relatively vertical. Because the crowding out effect is large, monetarists assert that fiscal policy is ineffective. Keynesians argue ...
Structural Change in the New Zealand Economy 1974
... 1952. Many of the changes are obvious such as new and changing export destinations and import sources; the increasing use of ICT in workplaces, increasing education levels of the workforce, and changing and rising employment patterns of women. Many of the changes are less obvious, but potentially eq ...
... 1952. Many of the changes are obvious such as new and changing export destinations and import sources; the increasing use of ICT in workplaces, increasing education levels of the workforce, and changing and rising employment patterns of women. Many of the changes are less obvious, but potentially eq ...
Patterns of agricultural growth and overall growth in Uganda
... Most of the available evidence is based on cross country analysis that may not be useful simply because there are considerable amount of variation ...
... Most of the available evidence is based on cross country analysis that may not be useful simply because there are considerable amount of variation ...
QUIZ 2: Macro – Winter 2002 - The University of Chicago Booth
... b. A fall in government spending (G) will cause the IS curve to shift to the left and investment (I) to fall. We define the IS curve Y= C+I+G+NX. As G decreases, the IS curve will shift to the left causing r to decrease and the interest rate sensitive part of I to increase. c. An increase in consume ...
... b. A fall in government spending (G) will cause the IS curve to shift to the left and investment (I) to fall. We define the IS curve Y= C+I+G+NX. As G decreases, the IS curve will shift to the left causing r to decrease and the interest rate sensitive part of I to increase. c. An increase in consume ...
NBER WORKING PAPER SERIES Sebastian Edwards Working Paper No. 2110
... trade shock. The discussion is carried out under two alternative assumptions regarding wages: full flexibility and the existence of a minimum wage. It is assumed that in the short run capital is sector specific, while labor can move freely across sectors; in the medium- and long-run, however, both c ...
... trade shock. The discussion is carried out under two alternative assumptions regarding wages: full flexibility and the existence of a minimum wage. It is assumed that in the short run capital is sector specific, while labor can move freely across sectors; in the medium- and long-run, however, both c ...
Document
... households to work or save depends largely on which of the following? a. What philosophies are taught in school b. The nature of the people in a particular geographic area c. The government’s tax policy and the economic outlook d. The availability of government subsides ANSWER: c 24. An unstable eco ...
... households to work or save depends largely on which of the following? a. What philosophies are taught in school b. The nature of the people in a particular geographic area c. The government’s tax policy and the economic outlook d. The availability of government subsides ANSWER: c 24. An unstable eco ...
Long-Run Growth - mrclotzman.com
... of scale, weather, pollution abatement, worker safety and health, crime, labor disputes, and so forth. Source: Edward Denison, Trends in American Economic Growth, 1929 – 1982 (Washington: Brookings Institution, 1985). ...
... of scale, weather, pollution abatement, worker safety and health, crime, labor disputes, and so forth. Source: Edward Denison, Trends in American Economic Growth, 1929 – 1982 (Washington: Brookings Institution, 1985). ...
Factor Accumulation and the Determinants of TFP in the
... The fortune of the region depends on its energy exports. Indeed, average income has followed closely the evolution of hydrocarbon revenues (Figure 2). As oil prices fell to record lows after the first Gulf War, income declined to a bottom in 1995. Since then, oil revenues have soared thanks to the t ...
... The fortune of the region depends on its energy exports. Indeed, average income has followed closely the evolution of hydrocarbon revenues (Figure 2). As oil prices fell to record lows after the first Gulf War, income declined to a bottom in 1995. Since then, oil revenues have soared thanks to the t ...
Long-Run Growth
... 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. ...
Chapter 9
... saving “after the fact.” It is also an opportunity to review past material. If someone suggests that they can also pay taxes, you can remind them that disposable income is after-tax income. 3. The discussion of the income and consumption relationship is a good opportunity to remind students about th ...
... saving “after the fact.” It is also an opportunity to review past material. If someone suggests that they can also pay taxes, you can remind them that disposable income is after-tax income. 3. The discussion of the income and consumption relationship is a good opportunity to remind students about th ...
Slide 1
... ▪ BEA uses a variety of price measures from the Census Bureau, Bureau of Labor Statistics, and trade sources. ▪ A longstanding goal has been to use, when possible, price measures that have been adjusted for quality changes www.bea.gov ...
... ▪ BEA uses a variety of price measures from the Census Bureau, Bureau of Labor Statistics, and trade sources. ▪ A longstanding goal has been to use, when possible, price measures that have been adjusted for quality changes www.bea.gov ...
Pit of Consumption PPT - Mrs. Ennis AP ECONOMICS
... • Permanent Income Hypothesis: • Average Lifetime Income • Consumption only goes up if the average lifetime income goes up • A little change (or assumed temporary change) results in the same amount of consumption and saving the rest ...
... • Permanent Income Hypothesis: • Average Lifetime Income • Consumption only goes up if the average lifetime income goes up • A little change (or assumed temporary change) results in the same amount of consumption and saving the rest ...
Achieving Capital Account Convertibility in China
... Both optimists and pessimists agree that further reforms are necessary to sustain China’s rapid economic growth. There is also a consensus on some necessary reforms, such as strengthening the ability to innovate, further liberalizing the markets, maintaining macroeconomic stability and improving ex ...
... Both optimists and pessimists agree that further reforms are necessary to sustain China’s rapid economic growth. There is also a consensus on some necessary reforms, such as strengthening the ability to innovate, further liberalizing the markets, maintaining macroeconomic stability and improving ex ...
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.