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Inflation - Economics
... Disinflation – a fall in the rate of inflation. There is still inflation ...
... Disinflation – a fall in the rate of inflation. There is still inflation ...
Is Kazakhstan a Market Economy Yet? Getting warmer….
... Kazakhstan, are much more difficult to gauge. This paper looks at the conclusions from the USA, the EU, and work by theoretical economists, to answer whether or not Kazakhstan has become a market economy, as the U.S. government has declared it has. The conclusion is that it is “getting warmer,” but ...
... Kazakhstan, are much more difficult to gauge. This paper looks at the conclusions from the USA, the EU, and work by theoretical economists, to answer whether or not Kazakhstan has become a market economy, as the U.S. government has declared it has. The conclusion is that it is “getting warmer,” but ...
Why Was Europe Left at the Station when the American Productivity
... – One-by-one service at the counter, no check out stations – Tiny, small, don’t carry any of the obvious things that a pharmacy should carry. Compare to the ...
... – One-by-one service at the counter, no check out stations – Tiny, small, don’t carry any of the obvious things that a pharmacy should carry. Compare to the ...
From Keynes to Hayek: The Marvel of Thriving
... Hayek’s explanation of how markets work, macroeconomically speaking, has come largely in the form of critical essays aimed at exposing the fallacies of Foster and Catchings (Hayek, 1929 [1975]) and later aimed at exposing the (same) fallacies of Keynes. And a brief description of non-perverse intert ...
... Hayek’s explanation of how markets work, macroeconomically speaking, has come largely in the form of critical essays aimed at exposing the fallacies of Foster and Catchings (Hayek, 1929 [1975]) and later aimed at exposing the (same) fallacies of Keynes. And a brief description of non-perverse intert ...
Lecture 6 and 7:
... defined as an addition of spending to the income-expenditure stream.) a. If aggregate spending is less than equilibrium GDP as it is in Table 7-4, line 8 when GDP is $510 billion, then businesses will find themselves with unplanned inventory investment on top of what was already planned. This unplan ...
... defined as an addition of spending to the income-expenditure stream.) a. If aggregate spending is less than equilibrium GDP as it is in Table 7-4, line 8 when GDP is $510 billion, then businesses will find themselves with unplanned inventory investment on top of what was already planned. This unplan ...
Economic Indicators and Measurements
... – arable land, water, forests, oil, mineral resources • Resources not enough; also need free market, effective government – Nigeria has oil but low GDP per capita, widespread poverty – Japan has few resources but high GDP per capita from industry and trade NEXT ...
... – arable land, water, forests, oil, mineral resources • Resources not enough; also need free market, effective government – Nigeria has oil but low GDP per capita, widespread poverty – Japan has few resources but high GDP per capita from industry and trade NEXT ...
A Perspective on the Growth Process in India and China
... the growth rate of labour productivity, necessarily increases the share of economic surplus in the economy. An increase in inequality in other words is built into the system. Moreover, since those subsisting on economic surplus tend to demand newer goods which are in vogue in the metropolis, and whi ...
... the growth rate of labour productivity, necessarily increases the share of economic surplus in the economy. An increase in inequality in other words is built into the system. Moreover, since those subsisting on economic surplus tend to demand newer goods which are in vogue in the metropolis, and whi ...
Chapter 1
... author is the United States trade representative. An earlier warning that strains in international trade relations could spread from steel to other commodities if the EU and Japan failed to reflate their economies was made by Grant Aldonas, the United States Under-Secretary of Commerce for Internati ...
... author is the United States trade representative. An earlier warning that strains in international trade relations could spread from steel to other commodities if the EU and Japan failed to reflate their economies was made by Grant Aldonas, the United States Under-Secretary of Commerce for Internati ...
UT Stock Market & the Macroeconomy
... that people hold stocks is that they hope to enjoy capital gains • Some stocks pay no dividends at all, because management believes stockholders are best served by reinvesting all profits within the firm so that future profits will be even higher • Over past century, corporate stocks have generally ...
... that people hold stocks is that they hope to enjoy capital gains • Some stocks pay no dividends at all, because management believes stockholders are best served by reinvesting all profits within the firm so that future profits will be even higher • Over past century, corporate stocks have generally ...
Principles of Economic Growth
... In East Asia, saving rates of 30-40% of GDP went along with rapid economic growth In several African economies, saving rates of around 10% of GDP went for a long time hand in hand with economic stagnation In OECD countries, saving rates of about 20% of GDP went along with respectable growth ...
... In East Asia, saving rates of 30-40% of GDP went along with rapid economic growth In several African economies, saving rates of around 10% of GDP went for a long time hand in hand with economic stagnation In OECD countries, saving rates of about 20% of GDP went along with respectable growth ...
Shareholder Value Maximisation, Stock Market and Universal Standard?
... Shareholder Value Maximisation 421 think our financial markets should get a lot of the credit for forcing money out of the traditional management and entrenched corporations, and preventing what would have been negative internal rates of return on investments’. He goes on to point out that the pace ...
... Shareholder Value Maximisation 421 think our financial markets should get a lot of the credit for forcing money out of the traditional management and entrenched corporations, and preventing what would have been negative internal rates of return on investments’. He goes on to point out that the pace ...
Factors of Economic Growth in the Transition
... finish this paper with concluding remarks on what could be the basis for future research and by giving suggestions about possible solutions to the Macedonian problem. I. Literature Overview What lays behind the low economic growth of some transition economies? Is it the degree of liberalization, inc ...
... finish this paper with concluding remarks on what could be the basis for future research and by giving suggestions about possible solutions to the Macedonian problem. I. Literature Overview What lays behind the low economic growth of some transition economies? Is it the degree of liberalization, inc ...
The Asset Market, Money, and Prices
... • The asset market is the entire set of markets in which people buy and sell real and financial assets, for example, gold, houses, stocks and bonds. • Money is an asset widely used and accepted as payment. • Money has long been believed to have special significance. • The market for money is importa ...
... • The asset market is the entire set of markets in which people buy and sell real and financial assets, for example, gold, houses, stocks and bonds. • Money is an asset widely used and accepted as payment. • Money has long been believed to have special significance. • The market for money is importa ...
A New Framework for Testing the Effect of Government Spending on
... government consumption excluding education and defense as a share of GDP has a negative effect on the growth of GDP per capita. On the other hand, he finds no effect of government investment, whereas educational expenditure is found to have a positive effect.3 Grier and Tullock use the change in the ...
... government consumption excluding education and defense as a share of GDP has a negative effect on the growth of GDP per capita. On the other hand, he finds no effect of government investment, whereas educational expenditure is found to have a positive effect.3 Grier and Tullock use the change in the ...
Circular flow of economic activity through a simple market economy
... costly and less profitable at a given price, so producers will supply less. A decrease in the number of producers. The market supply is the sum of the supplies of all producers, so a decrease in the number of producers decreases supply. Expectations of higher future prices. If firms think next month ...
... costly and less profitable at a given price, so producers will supply less. A decrease in the number of producers. The market supply is the sum of the supplies of all producers, so a decrease in the number of producers decreases supply. Expectations of higher future prices. If firms think next month ...
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... 6 The decomposition of the government budget into a cyclical and non-cyclical or structural component aims at separating cyclical influences on the budget balances resulting from the divergence between actual and potential output (the output gap) from those which are non-cyclical. Changes in the lat ...
... 6 The decomposition of the government budget into a cyclical and non-cyclical or structural component aims at separating cyclical influences on the budget balances resulting from the divergence between actual and potential output (the output gap) from those which are non-cyclical. Changes in the lat ...
Ch10
... The experience of US in the second half of the nineties was an acceleration of the potential growth rate of the economy. The experience of Japan was that the rate of growth of potential output slowed from 3.6% in the eighties to 2.2% in the nineties. ...
... The experience of US in the second half of the nineties was an acceleration of the potential growth rate of the economy. The experience of Japan was that the rate of growth of potential output slowed from 3.6% in the eighties to 2.2% in the nineties. ...
Macroeconomics, Spring 2009, Exam 3, several versions
... begins in a macroeconomic equilibrium, except that the money supply is growing for many years at the rate of 5% per year more than is needed, so prices have been rising at the rate of 5% per year. The economy is at full employment. The “real” interest rate, r, is about 4%. Now the experiment begins. ...
... begins in a macroeconomic equilibrium, except that the money supply is growing for many years at the rate of 5% per year more than is needed, so prices have been rising at the rate of 5% per year. The economy is at full employment. The “real” interest rate, r, is about 4%. Now the experiment begins. ...
Original Transcript (PDF 485.32 KB)
... Yet we can do better. Our share of the market in these economies is only a little over 3 per cent compared with Japan's share of 30 per cent and the U.S.A. 19 per cent. Thus, even a small increase which must be within our capacity, given our present low base, would represent a significant gain for A ...
... Yet we can do better. Our share of the market in these economies is only a little over 3 per cent compared with Japan's share of 30 per cent and the U.S.A. 19 per cent. Thus, even a small increase which must be within our capacity, given our present low base, would represent a significant gain for A ...
NBER WORKING PAPER SERIES R&D SPILLOVERS AND GLOBAL
... more sophisticated modeling of aggregate demand within these regions; see Bayoumi, Hewitt, and Symansky (1995). There is also a very simple model for the oil-exporting developing countries, but there is no model for the economies in transition of central and east Europe and the former Soviet ...
... more sophisticated modeling of aggregate demand within these regions; see Bayoumi, Hewitt, and Symansky (1995). There is also a very simple model for the oil-exporting developing countries, but there is no model for the economies in transition of central and east Europe and the former Soviet ...
View/Open
... developing countries group, i.e. Brazil, the Russian Federation and India (together with China known as BRIC countries) are playing a much more increasing role in world economy at the present time. It seems that for the two former the vast natural resource stocks and growing raw materials dependence ...
... developing countries group, i.e. Brazil, the Russian Federation and India (together with China known as BRIC countries) are playing a much more increasing role in world economy at the present time. It seems that for the two former the vast natural resource stocks and growing raw materials dependence ...
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.