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Output Relationship Over the Business Cycle: Evidence
... behave asymmetrically over the business cycle. For instance, Neftci (1984) found the US unemployment rate increases more sharply during downswings than it declines during upswings. Gomme (1999) and Schettkat (1996) showed that the response of unemployment to output shocks is asymmetric in real busin ...
... behave asymmetrically over the business cycle. For instance, Neftci (1984) found the US unemployment rate increases more sharply during downswings than it declines during upswings. Gomme (1999) and Schettkat (1996) showed that the response of unemployment to output shocks is asymmetric in real busin ...
... the Millennium Development Goal of halving extreme poverty by 2015 have improved considerably over the past three years, as economic growth in the developing world has become more broad-based and embraced many of the poorest countries. At a time when the forces of economic expansion in some major de ...
Macroeconomics Final Study Guide
... Markets move toward equilibrium. People usually exploit opportunities to make CORRECT themselves better off. Resources should be used as efficiently as possible to achieve society's goals. Points 3 of 3 ...
... Markets move toward equilibrium. People usually exploit opportunities to make CORRECT themselves better off. Resources should be used as efficiently as possible to achieve society's goals. Points 3 of 3 ...
Macro Risks and the Term Structure
... the risks associated with aggregate supply and demand shocks for the U.S. economy. We extract these shocks from data on real activity and inflation. The model features nonGaussian dynamics for macroeconomic variables, but the term structure itself is affine in the factors, and the model is therefore ...
... the risks associated with aggregate supply and demand shocks for the U.S. economy. We extract these shocks from data on real activity and inflation. The model features nonGaussian dynamics for macroeconomic variables, but the term structure itself is affine in the factors, and the model is therefore ...
Countermeasures and Suggestions for Resource-based Industrial
... gradually promote the resource-based enterprises to establish a long-term overseas resources strategy to ensure the supply of raw materials for resource-based industries, in order to achieve the sustainable development and life-cycle extension of resource-based industries. The main tasks of overseas ...
... gradually promote the resource-based enterprises to establish a long-term overseas resources strategy to ensure the supply of raw materials for resource-based industries, in order to achieve the sustainable development and life-cycle extension of resource-based industries. The main tasks of overseas ...
Creative Productivity Index: Analysing Creativity and Innovation in Asia
... drivers of this relationship is a subject for future research. However, the CPI does show cases where economies perform worse in these categories relative to others. For example, the Republic of Korea, while ranked consistently high in all sub-dimensions, appears to be lagging in firm dynamics. 6. T ...
... drivers of this relationship is a subject for future research. However, the CPI does show cases where economies perform worse in these categories relative to others. For example, the Republic of Korea, while ranked consistently high in all sub-dimensions, appears to be lagging in firm dynamics. 6. T ...
Deflation: Determinants, Risks and Policy Options -- Findings
... 1. There has recently been a marked increase in concerns of a generalized decline in prices in both industrial and emerging market economies. With Japan, China, and several other Asian economies already experiencing declining prices, the worry has been that deflationary pressures could deepen, and e ...
... 1. There has recently been a marked increase in concerns of a generalized decline in prices in both industrial and emerging market economies. With Japan, China, and several other Asian economies already experiencing declining prices, the worry has been that deflationary pressures could deepen, and e ...
WHAT KEYNESIAN REVOLUTION
... extending back half a century before The General Theory). Laidler’s contrasting view, buttressed by careful and wide-ranging scholarship, raises the question of why, beyond accidents of political circumstance, Keynes’s General Theory received, and receives, so much attention. An answer is given by L ...
... extending back half a century before The General Theory). Laidler’s contrasting view, buttressed by careful and wide-ranging scholarship, raises the question of why, beyond accidents of political circumstance, Keynes’s General Theory received, and receives, so much attention. An answer is given by L ...
Abstract for AEA Meetings 1997 - American Economic Association
... to macroeconomic analysis. In the microeconomic theory of the firm at least one of the factors of production (usually physical capital) is fixed in the short run and all factors are variable in the long run. In macroeconomics the distinction made between the long run and short run is different. Both ...
... to macroeconomic analysis. In the microeconomic theory of the firm at least one of the factors of production (usually physical capital) is fixed in the short run and all factors are variable in the long run. In macroeconomics the distinction made between the long run and short run is different. Both ...
At the Intersection - Canadian Construction Association
... traffic that could have been put to more productive use. It’s the late deliveries, the missed appointments, and the margin of error needed to cover the risks of either. It’s the extra repair costs from all those additional fender-benders. It’s the higher fuel consumption and consequent higher emissi ...
... traffic that could have been put to more productive use. It’s the late deliveries, the missed appointments, and the margin of error needed to cover the risks of either. It’s the extra repair costs from all those additional fender-benders. It’s the higher fuel consumption and consequent higher emissi ...
Free Full Text ( Final Version , 726kb )
... Indonesia as one of emerging and developing economies in Asia faces many internal problems such as poverty, unemployment, lack and unequal infrastructure among regions and corruption. Compared to other countries in South East Asia, Indonesia’s gross domestic product per capita at PPP is far below Ma ...
... Indonesia as one of emerging and developing economies in Asia faces many internal problems such as poverty, unemployment, lack and unequal infrastructure among regions and corruption. Compared to other countries in South East Asia, Indonesia’s gross domestic product per capita at PPP is far below Ma ...
Government Sector and the Government Spending Multipliers
... shocks in G2t have negative effect on the private sector output. Intuitively, suppose there is a positive increase in G1t and an unchanged level of G2t . Then, there is a negative wealth effect because government increase the usage of private resource. In response to this negative wealth effect, ho ...
... shocks in G2t have negative effect on the private sector output. Intuitively, suppose there is a positive increase in G1t and an unchanged level of G2t . Then, there is a negative wealth effect because government increase the usage of private resource. In response to this negative wealth effect, ho ...
Shifting to a Green Economy - Stockholm Environment Institute
... find three other, apparently novel, results. First, the effect of policy instruments depends on whether the economy is wage-led or profit-led, a distinction that is not made in mainstream economic theory, but emerges from non-mainstream post-Keynesian theory. In general, we find that a push towards ...
... find three other, apparently novel, results. First, the effect of policy instruments depends on whether the economy is wage-led or profit-led, a distinction that is not made in mainstream economic theory, but emerges from non-mainstream post-Keynesian theory. In general, we find that a push towards ...
exchange rate
... FIGURE 20.1 Determining Equilibrium Output in an Open Economy In a., planned investment spending (I), government spending (G), and total exports (EX) are added to consumption (C) to arrive at planned aggregate expenditure. However, C + I + G + EX includes spending on imports. In b., the amount imp ...
... FIGURE 20.1 Determining Equilibrium Output in an Open Economy In a., planned investment spending (I), government spending (G), and total exports (EX) are added to consumption (C) to arrive at planned aggregate expenditure. However, C + I + G + EX includes spending on imports. In b., the amount imp ...
Reverse the curse: Maximizing the potential of resource
... September of this year—Resource Revolution: Tracking global commodity markets—highlighted the fact that, despite declines in some resource prices over the past two years, on average commodity prices have more than doubled since 2000. Even with a step change in resource productivity—the efficiency wi ...
... September of this year—Resource Revolution: Tracking global commodity markets—highlighted the fact that, despite declines in some resource prices over the past two years, on average commodity prices have more than doubled since 2000. Even with a step change in resource productivity—the efficiency wi ...
Economic Structure in Humboldt County
... grants. The analysis in this publication provides an understanding of past and future socioeconomic trends at the county, state, and national level. The study also estimates the export-base of the county, provides an overview of the Humboldt County Input-Output model, uses hypothetical economic chan ...
... grants. The analysis in this publication provides an understanding of past and future socioeconomic trends at the county, state, and national level. The study also estimates the export-base of the county, provides an overview of the Humboldt County Input-Output model, uses hypothetical economic chan ...
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.