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... cooperative solution more difficult to sustain. Our paper differs mainly because here we use a standard model of growth, in which public infrastructure is co-financed by domestic taxes and foreign transfers, where the latter redistribute from above-average to below-average income countries. We mana ...
... cooperative solution more difficult to sustain. Our paper differs mainly because here we use a standard model of growth, in which public infrastructure is co-financed by domestic taxes and foreign transfers, where the latter redistribute from above-average to below-average income countries. We mana ...
CHAPTER 21: Open-Economy Macroeconomics: The Balance of
... When people in different countries buy from and sell to each other, an exchange of currencies must also take place. ...
... When people in different countries buy from and sell to each other, an exchange of currencies must also take place. ...
Economics AQA AS Unit 1 WORKBOOK ANSWERS
... Any valid reason for a fall in AS will be awarded up to 2 marks: e.g. the problems in financial markets have permanently damaged productivity (1 mark) as investment and long-run capital per worker falls (1 mark) and so aggregate supply shifts to the left. (1 mark) Or firms may be hoarding labour in ...
... Any valid reason for a fall in AS will be awarded up to 2 marks: e.g. the problems in financial markets have permanently damaged productivity (1 mark) as investment and long-run capital per worker falls (1 mark) and so aggregate supply shifts to the left. (1 mark) Or firms may be hoarding labour in ...
Reconciling Hayek s and Keynes views of recessions
... also shares key features with the long tradition of macro models emphasizing strategic complementarities, aggregate demand externalities and multipliers, such as Diamond [1982] and Cooper and John [1988], but we do not emphasize multiple equilibrium. Instead we focus on situations where the equilibr ...
... also shares key features with the long tradition of macro models emphasizing strategic complementarities, aggregate demand externalities and multipliers, such as Diamond [1982] and Cooper and John [1988], but we do not emphasize multiple equilibrium. Instead we focus on situations where the equilibr ...
The Eight Economic Regions of China
... A decade ago, to talk about China’s national economy was seriously misleading. It was really a series of provincial economies, which traded little with each other, let alone the outside world. Everywhere had its own set of factories producing a similar set of goods – hence the hundreds of car plants ...
... A decade ago, to talk about China’s national economy was seriously misleading. It was really a series of provincial economies, which traded little with each other, let alone the outside world. Everywhere had its own set of factories producing a similar set of goods – hence the hundreds of car plants ...
NBER WORKING PAPER SERIES George J. Borjas Working Paper 14796
... seems full of contradictory results. Some studies claim that immigration has a substantial impact on wages in receiving and sending countries (e.g., Borjas 2003; Mishra 2007), while other studies claim the ...
... seems full of contradictory results. Some studies claim that immigration has a substantial impact on wages in receiving and sending countries (e.g., Borjas 2003; Mishra 2007), while other studies claim the ...
SECOND GENERATION INNOVATION
... this period of stagnation can be described as the Malthusian epoch. Instead of resulting in improved standards of living, technological progress led to increased population. However, with the onset of the Great Divergence was around 1760, on the eve of the First Industrial Revolution in Britain, the ...
... this period of stagnation can be described as the Malthusian epoch. Instead of resulting in improved standards of living, technological progress led to increased population. However, with the onset of the Great Divergence was around 1760, on the eve of the First Industrial Revolution in Britain, the ...
Chapter 15: Explanations of Business Investment Spending
... and 1980s; this is one of the reasons that business investment spending was relatively low in that period. Retained profits were generally high from 1993 to 2000; this is one of the reasons that business investment spending was relatively high in that period. Additional evidence on this point can be ...
... and 1980s; this is one of the reasons that business investment spending was relatively low in that period. Retained profits were generally high from 1993 to 2000; this is one of the reasons that business investment spending was relatively high in that period. Additional evidence on this point can be ...
The impact of demographic change on labour supply and economic
... mean that the working age populations will grow more slowly or decline. This relates not only to the total size of the potential workforce but also its composition: greater proportions of older people, who are less likely to work. Indeed, by 2050 declines in the total labour force are expected in se ...
... mean that the working age populations will grow more slowly or decline. This relates not only to the total size of the potential workforce but also its composition: greater proportions of older people, who are less likely to work. Indeed, by 2050 declines in the total labour force are expected in se ...
ARC Centre of Excellence in Population Ageing Research Working
... mean that the working age populations will grow more slowly or decline. This relates not only to the total size of the potential workforce but also its composition: greater proportions of older people, who are less likely to work. Indeed, by 2050 declines in the total labour force are expected in se ...
... mean that the working age populations will grow more slowly or decline. This relates not only to the total size of the potential workforce but also its composition: greater proportions of older people, who are less likely to work. Indeed, by 2050 declines in the total labour force are expected in se ...
1 22 SEPTEMBER 2003 CAN WE DISCERN THE EFFECT OF
... into greater mobility of the factors of production (capital and labor) and greater world integration through increased trade and exchange of ideas. Several recent papers that compare the two globalization waves, the one at the end of the last century up to 1914, and the current one thus look precise ...
... into greater mobility of the factors of production (capital and labor) and greater world integration through increased trade and exchange of ideas. Several recent papers that compare the two globalization waves, the one at the end of the last century up to 1914, and the current one thus look precise ...
Three Sides of Harberger Triangles
... revailing economic wisdom is highly critical of injudicious tax policies or government regulations, uncorrected externalities, unchecked monopolistic practices, and various other market failures. When economists are challenged to quantify the economic costs of associated price distortions, it is sta ...
... revailing economic wisdom is highly critical of injudicious tax policies or government regulations, uncorrected externalities, unchecked monopolistic practices, and various other market failures. When economists are challenged to quantify the economic costs of associated price distortions, it is sta ...
International Trade and Capital
... time increase in nominal terms compared to the respective period last year. At the same time, consolidated budget expenditures grew by 52% yoy, a slightly lower rate than of revenues growth. As a result, in the first quarter of the year, consolidated budget reported a surplus at 0.02% of full-year G ...
... time increase in nominal terms compared to the respective period last year. At the same time, consolidated budget expenditures grew by 52% yoy, a slightly lower rate than of revenues growth. As a result, in the first quarter of the year, consolidated budget reported a surplus at 0.02% of full-year G ...
The IS-LM Model - Spears School of Business
... interest rate (i) The connection between i and Y is investment (I) We need to figure out: i ←→ (I ) ←→ Y First we’ll discuss investment schedule: i ←→ (I ) Then we’ll use the Keynesian cross diagram Combining these two will give us: i ←→ Y ...
... interest rate (i) The connection between i and Y is investment (I) We need to figure out: i ←→ (I ) ←→ Y First we’ll discuss investment schedule: i ←→ (I ) Then we’ll use the Keynesian cross diagram Combining these two will give us: i ←→ Y ...
Economics of Money, Banking, and Financial Markets, 8e
... 13) Which of the following statements concerning Keynesian analysis are true? A) Keynesʹs analysis started with the recognition that the total quantity demanded of an economyʹs output was the sum of four types of spending: consumer expenditure, planned investment spending, federal government spendin ...
... 13) Which of the following statements concerning Keynesian analysis are true? A) Keynesʹs analysis started with the recognition that the total quantity demanded of an economyʹs output was the sum of four types of spending: consumer expenditure, planned investment spending, federal government spendin ...
The Impact of Market Reforms on Competition, Structure and
... Did the market-oriented reforms increase competition in the domestic market? If so, how can market forces be strengthened in order to ensure effective competition? If not, what could be the possible factors that inhibit effective competition from taking place? Are there remaining barriers to competi ...
... Did the market-oriented reforms increase competition in the domestic market? If so, how can market forces be strengthened in order to ensure effective competition? If not, what could be the possible factors that inhibit effective competition from taking place? Are there remaining barriers to competi ...
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... variable, developed when economists started to question the notion that potential output changed deterministically over time. The supply shocks of the 1970s and the publication of the influential paper by Nelson and PJosser (1982) suggesting that output series are best characterised as integrated se ...
... variable, developed when economists started to question the notion that potential output changed deterministically over time. The supply shocks of the 1970s and the publication of the influential paper by Nelson and PJosser (1982) suggesting that output series are best characterised as integrated se ...
National Innovative Capacity -
... empirical examination of the determinants of country-level production of international patents. We introduce a novel framework based on the concept of national innovative capacity. National innovative capacity is the ability of a country to produce and commercialize a flow of innovative technology o ...
... empirical examination of the determinants of country-level production of international patents. We introduce a novel framework based on the concept of national innovative capacity. National innovative capacity is the ability of a country to produce and commercialize a flow of innovative technology o ...
Unit V - KV Institute of Management and Information Studies
... 1983, with th objective of expanding employment opportunities for the rural landless, i.e., to provide guarantee to atleast one member of the landless household for about 100 days in a year. 7)Integrated Rural Development Programme (IRDP): It was launched in 1978-79 and extended all over the country ...
... 1983, with th objective of expanding employment opportunities for the rural landless, i.e., to provide guarantee to atleast one member of the landless household for about 100 days in a year. 7)Integrated Rural Development Programme (IRDP): It was launched in 1978-79 and extended all over the country ...
Vol. 20, No. 2, December 2013
... Singapore, Malaysia, Thailand, Indonesia, the Philippines and China comprise East Asia,1 and Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka comprise South Asia.2 Data are taken from the World Bank World Development Indicators and the Human Development Report of the United Nations ...
... Singapore, Malaysia, Thailand, Indonesia, the Philippines and China comprise East Asia,1 and Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka comprise South Asia.2 Data are taken from the World Bank World Development Indicators and the Human Development Report of the United Nations ...
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.