![NBER WORKING PAPER SERIES MONETARIST INTERPRETATIONS OF THE GREAT DEPRESSION:](http://s1.studyres.com/store/data/008233425_1-6872eed2cd30a97f9b5399f1e8f1b44f-300x300.png)
NBER WORKING PAPER SERIES MONETARIST INTERPRETATIONS OF THE GREAT DEPRESSION:
... Without the interference of demand shocks introduced by ...
... Without the interference of demand shocks introduced by ...
Chapter 22 - The Short
... First thing that comes to mind is your income The more you earn, the more you spend It’s not exactly your income per period that determines your spending But rather what you get to keep from that income after deducting any taxes you have to pay If we start with income you earn, deduct all ...
... First thing that comes to mind is your income The more you earn, the more you spend It’s not exactly your income per period that determines your spending But rather what you get to keep from that income after deducting any taxes you have to pay If we start with income you earn, deduct all ...
Working Paper Series Trade and Investment What complementary
... over the longer term. Revenga (1997) offers an early contrary view to the benefits of trade for aggregate employment. Based on plant-level data from Mexican manufacturers she argues that liberalized industries suffered a reduction in economic rents that was ultimately transmitted into lower employme ...
... over the longer term. Revenga (1997) offers an early contrary view to the benefits of trade for aggregate employment. Based on plant-level data from Mexican manufacturers she argues that liberalized industries suffered a reduction in economic rents that was ultimately transmitted into lower employme ...
Dynamic Change, Economic Fluctuations, and the AD
... • Since the temporarily favorable supply conditions cannot be counted on in the future, the economy’s long-term production capacity will not be altered. • If individuals recognize that they will be unable to maintain their current high level of income, they will increase their saving. Lower interest ...
... • Since the temporarily favorable supply conditions cannot be counted on in the future, the economy’s long-term production capacity will not be altered. • If individuals recognize that they will be unable to maintain their current high level of income, they will increase their saving. Lower interest ...
Comparative Study of Export Policies in Egypt, Morocco
... seen a recovery in income per capita relative to the US, but none has been able to supersede their historical maximums. Egypt is below its relative level of 1960 despite its oil discoveries. Morocco is below its 1980 level, even though it has shown a positive trend in the more recent period. Tunisia ...
... seen a recovery in income per capita relative to the US, but none has been able to supersede their historical maximums. Egypt is below its relative level of 1960 despite its oil discoveries. Morocco is below its 1980 level, even though it has shown a positive trend in the more recent period. Tunisia ...
NATIONAL OPEN UNIVERSITY OF NIGERIA MACROECONOMIC
... Up-to-date course information will be continuously delivered to you at the study centre. Work before the relevant due date (about 4 weeks before due dates), get the Assignment File for the next required assignment. Keep in mind that you will learn a lot by doing the assignments carefully. They h ...
... Up-to-date course information will be continuously delivered to you at the study centre. Work before the relevant due date (about 4 weeks before due dates), get the Assignment File for the next required assignment. Keep in mind that you will learn a lot by doing the assignments carefully. They h ...
Document
... From 1988, a series of phased reductions in tariffs across most industry sectors By 1996, virtually all tariffs had fallen to 5 per cent or less. Effective rate of assistance to manufacturing fell from 35% in the early 1970s to 5% by 2000. Increased international competition in Australia’s traded go ...
... From 1988, a series of phased reductions in tariffs across most industry sectors By 1996, virtually all tariffs had fallen to 5 per cent or less. Effective rate of assistance to manufacturing fell from 35% in the early 1970s to 5% by 2000. Increased international competition in Australia’s traded go ...
Building the Aggregate Expenditures Model
... A) subtracting the MPC from "one" at each level of income. B) subtracting investment from consumption at each level of GDP. C) plotting the horizontal differences between the consumption schedule and the 45-degree line. D) plotting the vertical differences between the consumption schedule and the 45 ...
... A) subtracting the MPC from "one" at each level of income. B) subtracting investment from consumption at each level of GDP. C) plotting the horizontal differences between the consumption schedule and the 45-degree line. D) plotting the vertical differences between the consumption schedule and the 45 ...
keynes – revolution and counter- revolution - Post
... one simple equation to explain the largest spending aggregate in an economy which must count as an act of genius. Having identified the propensity to consume it was but a small step for Keynes to detect the marginal propensity to consume, and with it the multiplier effect. The marginal propensity t ...
... one simple equation to explain the largest spending aggregate in an economy which must count as an act of genius. Having identified the propensity to consume it was but a small step for Keynes to detect the marginal propensity to consume, and with it the multiplier effect. The marginal propensity t ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Fernandez (2000) assert that a major source of sustained growth in per capita income is the accumulation of knowledge and its subsequent embodiment in either society’s physical or human capital. Human capital means knowledge or skills embodied in human beings. Elias and Fernandez (2000) further argu ...
... Fernandez (2000) assert that a major source of sustained growth in per capita income is the accumulation of knowledge and its subsequent embodiment in either society’s physical or human capital. Human capital means knowledge or skills embodied in human beings. Elias and Fernandez (2000) further argu ...
Are Long-run Price Stability and Short-run Output
... long-run trade-off between inflation and unemployment. The main policy implication of this principle is that inflation targeting strategies, namely aggregate demand fine-tuning through interest-rate management with a view to hitting inflation targets, do not affect unemployment, output or any other ...
... long-run trade-off between inflation and unemployment. The main policy implication of this principle is that inflation targeting strategies, namely aggregate demand fine-tuning through interest-rate management with a view to hitting inflation targets, do not affect unemployment, output or any other ...
International Economics - Department of Higher Education
... (4') ?(w) I z I 1 The minimum cost condition determines the structure of relative prices. The relative price of a commodity z in terms of any other commodity z', when both goods are produced in the home country, is equal to the ratio of home unit labor cost relative price of home produced z in term ...
... (4') ?(w) I z I 1 The minimum cost condition determines the structure of relative prices. The relative price of a commodity z in terms of any other commodity z', when both goods are produced in the home country, is equal to the ratio of home unit labor cost relative price of home produced z in term ...
PowerPoint for Chapter 17: Production and Growth
... cannot generate enough saving to fund investment projects themselves © 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwis ...
... cannot generate enough saving to fund investment projects themselves © 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwis ...
The Aggregate
... Famous critique of classical theory: The long run is a misleading guide to current affairs. In the long run, we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us when the storm is long past, the ocean will be flat. ...
... Famous critique of classical theory: The long run is a misleading guide to current affairs. In the long run, we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us when the storm is long past, the ocean will be flat. ...
Problems for Macroeconomics, 2/e
... before the recession. In other words, employment did not rapidly catch up to its previous trajectory. Indeed, as of June 2005, the graph is consistent with a permanent, negative effect on employment. The employment to population ratio fell by about 1.5 percentage points over 2001 and continued to fa ...
... before the recession. In other words, employment did not rapidly catch up to its previous trajectory. Indeed, as of June 2005, the graph is consistent with a permanent, negative effect on employment. The employment to population ratio fell by about 1.5 percentage points over 2001 and continued to fa ...
Explaining the Effects of Government Spending Shocks
... negative wealth effects, they inevitably lower their consumption and increase hours worked. This increase in labor supply also causes real wages to fall. Thus, these models are unable to generate the positive response of consumption and wages to a government spending shock. Some recent studies have r ...
... negative wealth effects, they inevitably lower their consumption and increase hours worked. This increase in labor supply also causes real wages to fall. Thus, these models are unable to generate the positive response of consumption and wages to a government spending shock. Some recent studies have r ...
The Role Played by Public Enterprises
... enterprise share of manufacturing output was about 70 percent and Denmark's was 0 percent. Tanzania and the United Kingdom had similar public enterprise shares of GDP, about 12 percent, yet Tanzania's public enterprise share of manufacturing output was 38 percent and the United Kingdom's was 3 perce ...
... enterprise share of manufacturing output was about 70 percent and Denmark's was 0 percent. Tanzania and the United Kingdom had similar public enterprise shares of GDP, about 12 percent, yet Tanzania's public enterprise share of manufacturing output was 38 percent and the United Kingdom's was 3 perce ...
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.