![DEPARTMENT OF ECONOMICS WORKING PAPER SERIES](http://s1.studyres.com/store/data/019954924_1-8bb15e7ddd3557de00732f5086342b66-300x300.png)
DEPARTMENT OF ECONOMICS WORKING PAPER SERIES
... In this paper we try to open the “black box” of the market structure and link the endogenous behavior of firms at the sectoral level with the general equilibrium properties of the economy, and in particular with its business cycle properties. We consider distinct sectors, each one characterized by m ...
... In this paper we try to open the “black box” of the market structure and link the endogenous behavior of firms at the sectoral level with the general equilibrium properties of the economy, and in particular with its business cycle properties. We consider distinct sectors, each one characterized by m ...
Temi di Discussione
... In broad terms, our main contribution is to provide a detailed and coherent picture of international production sharing and trade links for the largest euro-area countries in a period spanning from the introduction of the euro to the beginning of the “sovereign debt crisis” in 2011. In particular, w ...
... In broad terms, our main contribution is to provide a detailed and coherent picture of international production sharing and trade links for the largest euro-area countries in a period spanning from the introduction of the euro to the beginning of the “sovereign debt crisis” in 2011. In particular, w ...
Development Economics Inequality of Growth Model
... explanation in his paper: “A possible interpretaition of the results involves the idea that creditmarket constraints would be more serious in poorer countries. In poor countries, the net effect of inequality on growth may be negative because of the severity of these credit – market problems. (…) In ...
... explanation in his paper: “A possible interpretaition of the results involves the idea that creditmarket constraints would be more serious in poorer countries. In poor countries, the net effect of inequality on growth may be negative because of the severity of these credit – market problems. (…) In ...
1 Principles of Macroeconomics, 9e
... 31) Increased investments in infrastructure or public capital would most likely A) cause a decrease in the growth rate, because they would require a reduction in private investment. B) have no impact on growth, because they do not affect the private sector. C) increase growth. D) reduce growth in a ...
... 31) Increased investments in infrastructure or public capital would most likely A) cause a decrease in the growth rate, because they would require a reduction in private investment. B) have no impact on growth, because they do not affect the private sector. C) increase growth. D) reduce growth in a ...
Structural Change in Ghana 1960-2010
... and more educated labor force. As Pickett and Shaeeldin (1990) put it: “Lewis thus thought that many years would elapse before large investments in industry could be justified economically.” 1957-1966: When Kwame Nkrumah took power in 1957, his government adopted a capital-intensive ISI strategy wit ...
... and more educated labor force. As Pickett and Shaeeldin (1990) put it: “Lewis thus thought that many years would elapse before large investments in industry could be justified economically.” 1957-1966: When Kwame Nkrumah took power in 1957, his government adopted a capital-intensive ISI strategy wit ...
AGGREGATE DEMAND AND OUTPUT IN THE SHORT RUN
... in aggregate spending, along the lines first suggested by Keynes. This model, which we call the basic Keynesian model, is also known as the Keynesian cross, after the diagram that is used to illustrate the theory. In the body of the chapter we will emphasize a numerical and graphical approach to the ...
... in aggregate spending, along the lines first suggested by Keynes. This model, which we call the basic Keynesian model, is also known as the Keynesian cross, after the diagram that is used to illustrate the theory. In the body of the chapter we will emphasize a numerical and graphical approach to the ...
Franchise Business Economic Outlook for 2016
... outlook for housing starts is stronger. We expect starts to surpass a 1.3-million-unit annualized rate by the end of 2016 – up 14% for the year. New home sales will follow, averaging 588,000 units in 2016, the highest level since 2007. Nonresidential construction, which grew at a spectacular 42.8% a ...
... outlook for housing starts is stronger. We expect starts to surpass a 1.3-million-unit annualized rate by the end of 2016 – up 14% for the year. New home sales will follow, averaging 588,000 units in 2016, the highest level since 2007. Nonresidential construction, which grew at a spectacular 42.8% a ...
Money and generalized exchange: A critical look at Neo
... theory equation to a general equilibrium system leaves the price level indeterminate. In order to solve this problem Patinkin introduced the real balance effect (the Pigou effect). The real balance effect restored the required consistency between the real and monetary sectors only by assuming that a ...
... theory equation to a general equilibrium system leaves the price level indeterminate. In order to solve this problem Patinkin introduced the real balance effect (the Pigou effect). The real balance effect restored the required consistency between the real and monetary sectors only by assuming that a ...
What is the Experience and Impact of South African Trade and
... globalising monopolistic or oligopolistic industries of regional or international dimensions (such as those in beer, sugar, energy, cereal milling and tourism). Trade is mostly unilateral, with the result that Mozambique has developed a huge trade deficit with South Africa. In the process, the South ...
... globalising monopolistic or oligopolistic industries of regional or international dimensions (such as those in beer, sugar, energy, cereal milling and tourism). Trade is mostly unilateral, with the result that Mozambique has developed a huge trade deficit with South Africa. In the process, the South ...
THE HISTORY OF STAGFLATION: A REVIEW OF IRANIAN
... be obtained by letting high inflation rates decreases real wage rates and subsequently raise the demand for labor. In contrast, Friedman’s explanation was rooted in the concept of the natural rate of unemployment. He argued that a higher rate of inflation would be achievable without low unemployment ...
... be obtained by letting high inflation rates decreases real wage rates and subsequently raise the demand for labor. In contrast, Friedman’s explanation was rooted in the concept of the natural rate of unemployment. He argued that a higher rate of inflation would be achievable without low unemployment ...
District Test Review – answers are at the end of the test
... 9. What does it mean when the demand for a product is inelastic? a. People will not buy any of that product c. Customers are sensitive to the price of the when the price goes up product b. A price increase does not have a d. There are very few satisfactory substitutes significant impact on buying ha ...
... 9. What does it mean when the demand for a product is inelastic? a. People will not buy any of that product c. Customers are sensitive to the price of the when the price goes up product b. A price increase does not have a d. There are very few satisfactory substitutes significant impact on buying ha ...
NBER WORKING PAPER SERIES PRODUCTIVITY GROWTH AND CAPITAL FLOWS: Francisco J. Buera
... the idiosyncratic non-financial distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. We think of financial frictions ...
... the idiosyncratic non-financial distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. We think of financial frictions ...
Europe`s Long-Term Growth Prospects: With and
... pre-crisis peak as of 2014:Q2) and low inflation rates have combined to produce very low growth rates in nominal GDP and so limited progress has been made in improving debt ratios. These developments are consistent with Reinhart and Rogoff’s (2009) evidence on the resolution of debt crises, which po ...
... pre-crisis peak as of 2014:Q2) and low inflation rates have combined to produce very low growth rates in nominal GDP and so limited progress has been made in improving debt ratios. These developments are consistent with Reinhart and Rogoff’s (2009) evidence on the resolution of debt crises, which po ...
Financial development, real sector output, and economic growth
... measures of output of the financial sector. Accordingly, we proxy the real sector development by the industrial output growth. A number of studies have discussed the interrelationship between financial development and industrial output at the micro-level. These studies have shown that the effect of ...
... measures of output of the financial sector. Accordingly, we proxy the real sector development by the industrial output growth. A number of studies have discussed the interrelationship between financial development and industrial output at the micro-level. These studies have shown that the effect of ...
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.