economics - Index of
... These resources are not specific & have alternate uses. Man has therefore to choose between wants. ...
... These resources are not specific & have alternate uses. Man has therefore to choose between wants. ...
Economic Policies with Endogenous Innovation and
... Furthermore, the model, in line with most ABMs, is grounded on a “realistic” representation of what agents do, how they adjust, etc.. In that, it provides an explicit microfoundation of macro dynamics. At the same time, we try to describe microbehaviors as close as possible to the available micro em ...
... Furthermore, the model, in line with most ABMs, is grounded on a “realistic” representation of what agents do, how they adjust, etc.. In that, it provides an explicit microfoundation of macro dynamics. At the same time, we try to describe microbehaviors as close as possible to the available micro em ...
Consumer Spending
... an additional dollar of disposable income spent on consumption. 3. The consumption function shows how an individual household’s consumer spending is determined by its current disposable income. 4. The aggregate consumption function shows the relationship for the entire economy. 28 of 29 ...
... an additional dollar of disposable income spent on consumption. 3. The consumption function shows how an individual household’s consumer spending is determined by its current disposable income. 4. The aggregate consumption function shows the relationship for the entire economy. 28 of 29 ...
EC 102.07-08-09 Exercises for Chapter 33 SPRING 2006 1. Ceteris
... 4. Suppose that a decrease in the demand for goods and services pushes the economy into recession. What happens to the price level? If the government does nothing, what ensures that the economy still eventually gets back to the natural rate of output? ANSWER: A decrease in aggregate demand causes th ...
... 4. Suppose that a decrease in the demand for goods and services pushes the economy into recession. What happens to the price level? If the government does nothing, what ensures that the economy still eventually gets back to the natural rate of output? ANSWER: A decrease in aggregate demand causes th ...
Singapore | 18 Apr 2013
... country, this can reach some four months (KKOPD, 2011). The situation regarding ports is similarly grave. Indonesia’s four key ports at Jakarta, Surabaya, Medan and Makassar are under pressure. Common problems include insufficient equipment to quickly offload containers, frequent delays in following ...
... country, this can reach some four months (KKOPD, 2011). The situation regarding ports is similarly grave. Indonesia’s four key ports at Jakarta, Surabaya, Medan and Makassar are under pressure. Common problems include insufficient equipment to quickly offload containers, frequent delays in following ...
2014-07-01 MTES Structural Reforms_Staff
... potential output is a function of three factors: labour supply, the capital stock, and a third factor, generally referred to as “total factor productivity” (TFP) or “technical progress”. Thus, increases in the level of the capital stock (e.g., through higher investment) or in the supply of labour ca ...
... potential output is a function of three factors: labour supply, the capital stock, and a third factor, generally referred to as “total factor productivity” (TFP) or “technical progress”. Thus, increases in the level of the capital stock (e.g., through higher investment) or in the supply of labour ca ...
Automatic Stabilizers, Fiscal Rules and Macroeconomic Stability*
... the production function, government spending rules and public debt targets. It also allows for some Keynesian features such as investment adjustment costs and sticky prices, thus making room for monetary policy. The benchmark model is calibrated to match the most salient long-run and business cycle ...
... the production function, government spending rules and public debt targets. It also allows for some Keynesian features such as investment adjustment costs and sticky prices, thus making room for monetary policy. The benchmark model is calibrated to match the most salient long-run and business cycle ...
Homework for Chapter 11 answers
... some firms, some industries, are at or close enough to their capacity production that they believe they can—or are forced to—raise their prices to equate the quantity they supply with increasing demand. Moreover, some essential inputs are fully employed—some skilled labor, certain raw materials—and ...
... some firms, some industries, are at or close enough to their capacity production that they believe they can—or are forced to—raise their prices to equate the quantity they supply with increasing demand. Moreover, some essential inputs are fully employed—some skilled labor, certain raw materials—and ...
MONEY MARKET EQUILIBRIUM IN THE CZECH REPUBLIC
... function includes only domestic variables and thus exploring traditional money demand focuses mainly on the concept of a closed economy. However, many authors prove that domestic determinants of money demand are superior to foreign factors. It means that after the inclusion of domestic variables the ...
... function includes only domestic variables and thus exploring traditional money demand focuses mainly on the concept of a closed economy. However, many authors prove that domestic determinants of money demand are superior to foreign factors. It means that after the inclusion of domestic variables the ...
U.S. FOREIGN TRADE AND ThE
... and almost another fifth the output of forests and of the sea. Less than 5 per cent was the product of manufacturing industries (U.S. Congress, 1884, ...
... and almost another fifth the output of forests and of the sea. Less than 5 per cent was the product of manufacturing industries (U.S. Congress, 1884, ...
Advanced Placement Macroeconomics
... C. Economic Growth and Public Policy A. Economic Growth around the World Sustained period during which a nation’s total output of goods and services increases. Lesson 58: Study of Long-Run Growth Lesson 59: Real GDP per person Analysis B. Productivity: Its Role and Determinants Degree to which prod ...
... C. Economic Growth and Public Policy A. Economic Growth around the World Sustained period during which a nation’s total output of goods and services increases. Lesson 58: Study of Long-Run Growth Lesson 59: Real GDP per person Analysis B. Productivity: Its Role and Determinants Degree to which prod ...
Productivity and Competitiveness Indicators 1990 to 2000
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
... and the various inputs required for production (e.g. labour and capital). Two important productivity indicators used are: labour productivity, that is, the ratio of real output to labour input, and capital productivity, the ratio of real output to stock of fixed capital used in the production proces ...
PDF
... has experienced larger or smaller increases in income over the period selected. In addition, it is possible that the increase in taste for variety is associated with a particular threshold level of income, rather than having a simple linear relationship with it. ...
... has experienced larger or smaller increases in income over the period selected. In addition, it is possible that the increase in taste for variety is associated with a particular threshold level of income, rather than having a simple linear relationship with it. ...
NBER WORKING PAPER SERIES ACCCUMULATION MODEL: A SIMULATION APPROACH David Lipton
... aspects of the adjustment problems that we treat. Obstfeld [14] presents a model of infinitely lived, optimizing households, such as ours, but he does not treat at all the issues of investment and growth. ...
... aspects of the adjustment problems that we treat. Obstfeld [14] presents a model of infinitely lived, optimizing households, such as ours, but he does not treat at all the issues of investment and growth. ...
View/Open
... number of units of one country's currency that are exchangeable for one unit of another country's currency. An international transaction can be viewed as having two parts: (1) the purchase of the currency of the exporting country and (2) the purchase of goods from the exporting country with this cur ...
... number of units of one country's currency that are exchangeable for one unit of another country's currency. An international transaction can be viewed as having two parts: (1) the purchase of the currency of the exporting country and (2) the purchase of goods from the exporting country with this cur ...
Role of Agriculture in Economic Development
... Role of Agriculture in Economic Development We assume resource flows from agric into other sectors and vice versa. Agric contribution may be due to govt policy or impediments. In terms of agric contribution to development agric is similar in any agric system. Whether we are looking at a close econom ...
... Role of Agriculture in Economic Development We assume resource flows from agric into other sectors and vice versa. Agric contribution may be due to govt policy or impediments. In terms of agric contribution to development agric is similar in any agric system. Whether we are looking at a close econom ...
American Growth and Napoleonic Wars
... meat, and raw materials such as cotton, leather, and wool. Certainly Douglass North is the most prominent scholar who defends the view that “between 1793 and 1807 the United States prospered mightily as a neutral trader and carrier” (Douglass C. North and Robert P. Thomas 1968). For North (1966) “th ...
... meat, and raw materials such as cotton, leather, and wool. Certainly Douglass North is the most prominent scholar who defends the view that “between 1793 and 1807 the United States prospered mightily as a neutral trader and carrier” (Douglass C. North and Robert P. Thomas 1968). For North (1966) “th ...
Productivity in Retail and Wholesale Trade in The Netherlands
... (Preliminary and Incomplete, please do not cite) ...
... (Preliminary and Incomplete, please do not cite) ...
DOC - World bank documents
... population, while at the same time the consumption of most natural materials was overestimated, due to under-estimation of materials-conserving technical change (for an analysis, see Cooper, 1975). More pertinent here, the Commission significantly under-estimated materials demand in the world; given ...
... population, while at the same time the consumption of most natural materials was overestimated, due to under-estimation of materials-conserving technical change (for an analysis, see Cooper, 1975). More pertinent here, the Commission significantly under-estimated materials demand in the world; given ...
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.