Productivity Brief 2015
... Productivity growth in emerging and developing economies reached its peak around 2007, and since then also embarked on a slowing trend. This slowdown appears to be a result of the end of a substantial catch-up growth period that began in the late 1990s. Emerging economies that are the furthest behin ...
... Productivity growth in emerging and developing economies reached its peak around 2007, and since then also embarked on a slowing trend. This slowdown appears to be a result of the end of a substantial catch-up growth period that began in the late 1990s. Emerging economies that are the furthest behin ...
norface08 Alho 8162004 en
... nominal convergence in relative wages and prices, i.e. real appreciation. The inflationary development in the new member countries is also vital, e.g., from the point of view of ECB monetary policy and the entrance of the new member countries into the Economic and Monetary Union. See Figures 1 and 2 ...
... nominal convergence in relative wages and prices, i.e. real appreciation. The inflationary development in the new member countries is also vital, e.g., from the point of view of ECB monetary policy and the entrance of the new member countries into the Economic and Monetary Union. See Figures 1 and 2 ...
free sample here
... 6) Converging lifestyles and preferences worldwide help to promote traditional values in individual countries. Answer: FALSE Diff: 2 Page Ref: 36 Skill: Concept Objective: 2-3 AACSB: Dynamics of the global economy 7) One method used by global companies to drive down prices is product standardization ...
... 6) Converging lifestyles and preferences worldwide help to promote traditional values in individual countries. Answer: FALSE Diff: 2 Page Ref: 36 Skill: Concept Objective: 2-3 AACSB: Dynamics of the global economy 7) One method used by global companies to drive down prices is product standardization ...
Institute The Success of Small Countries
... Suisse Global Wealth Report that measures the wealth of the 4.6 billion adults in the world (wealth is measured as financial plus non-financial wealth (i.e. property less debt). Wealth tends to have a high correlation with GDP but in itself can also reveal how small states manage their prosperity, p ...
... Suisse Global Wealth Report that measures the wealth of the 4.6 billion adults in the world (wealth is measured as financial plus non-financial wealth (i.e. property less debt). Wealth tends to have a high correlation with GDP but in itself can also reveal how small states manage their prosperity, p ...
Income Distribution in the Latin American Southern
... technology in the hands of foreign companies and states. Generally, these authors were critical of, but somewhat sympathetic with, the different attempts made by Latin American countries during the so-called ISI period to change the basis for economic growth, promoting structural change, social tra ...
... technology in the hands of foreign companies and states. Generally, these authors were critical of, but somewhat sympathetic with, the different attempts made by Latin American countries during the so-called ISI period to change the basis for economic growth, promoting structural change, social tra ...
Some observations about the endogenous money theory
... neutrality of money are grounded in the store of wealth function of money; the liquidity preference theory is the element on which the keynesian explanation of income fluctuation is based. The importance of the money endogeneity theory can therefore be assessed in relation to its ability to specify ...
... neutrality of money are grounded in the store of wealth function of money; the liquidity preference theory is the element on which the keynesian explanation of income fluctuation is based. The importance of the money endogeneity theory can therefore be assessed in relation to its ability to specify ...
Does Saying Yes to Capital Inflows Necessarily Mean Good
... higher than those of not listed. We also observe that, with the same rate of variation in money supply (M2) across Mercosur (Southern Common Market) and Caricom (Caribbean Community) countries, domestic credit7 over GDP was on average 30 percent higher in blacklisted territories. It is important to ...
... higher than those of not listed. We also observe that, with the same rate of variation in money supply (M2) across Mercosur (Southern Common Market) and Caricom (Caribbean Community) countries, domestic credit7 over GDP was on average 30 percent higher in blacklisted territories. It is important to ...
Missing Growth from Creative Destruction
... This is a modeling choice which does not affect the main result of our theoretical analysis. However, it matters in the empirical context since pure process innovation is arguably more likely to be captured by the statistical office. Yet, as it turns out, for products with price information in the C ...
... This is a modeling choice which does not affect the main result of our theoretical analysis. However, it matters in the empirical context since pure process innovation is arguably more likely to be captured by the statistical office. Yet, as it turns out, for products with price information in the C ...
NBER WORKING PAPER SERIES Aart Kraay Jaume Ventura
... In an earlier paper, we proposed a new view that countries invest the marginal unit of savings as the average one (Kraay and Ventura [2000]). This is what one should expect if, in contrast to the traditional view, investment risk is strong and diminishing returns are weak. The first assumption impl ...
... In an earlier paper, we proposed a new view that countries invest the marginal unit of savings as the average one (Kraay and Ventura [2000]). This is what one should expect if, in contrast to the traditional view, investment risk is strong and diminishing returns are weak. The first assumption impl ...
REAL AND TERMS INDEXATION RULES FOR AN OPEN ECONOMY
... be too small to affect foreign output, prices, or interest rates. It produces a good which is an imperfect substitute for foreign goods, but consumes both ...
... be too small to affect foreign output, prices, or interest rates. It produces a good which is an imperfect substitute for foreign goods, but consumes both ...
Press ECON of Northeastern University
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
Title Marx`s Theory of Money and Monetary Production Economy
... In the General Theory Keynes adopts a City or a Wall Street paradigm: the economy is viewed from the boardroom of a Wall Street investment bank. Theorizing starts by assuming a monetary economy with sophisticated financial institutions. In such an economy, money is not just a generalized ration point ...
... In the General Theory Keynes adopts a City or a Wall Street paradigm: the economy is viewed from the boardroom of a Wall Street investment bank. Theorizing starts by assuming a monetary economy with sophisticated financial institutions. In such an economy, money is not just a generalized ration point ...
A MACROECONOMETRIC MODEL FOR THE ECONOMY OF
... This study develops a macroeconometric model for the economy of Lesotho with the view of assessing existing and alternative macroeconomic policies. The model is designed to capture the structural characteristics of the economy while also exploiting the developments in economic theory and statistical ...
... This study develops a macroeconometric model for the economy of Lesotho with the view of assessing existing and alternative macroeconomic policies. The model is designed to capture the structural characteristics of the economy while also exploiting the developments in economic theory and statistical ...
essen-ch23-presentat..
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the ...
CONVERGENCE AND DIVERGENCE AMONG COUNTRIES Nasfi
... polarization and unequal growth, these phenomena will result in a marked tendency to divergence of economies. Accordingly, we will grant a special interest in two phenomena convergence and divergence of nations by presenting the main debates that occurred between economists following the confrontati ...
... polarization and unequal growth, these phenomena will result in a marked tendency to divergence of economies. Accordingly, we will grant a special interest in two phenomena convergence and divergence of nations by presenting the main debates that occurred between economists following the confrontati ...
... unemployment following a supply shock. rate will rise if the 11If the shock is Harrod neutral, the unemployment elasticity of subsitution exceeds one and fall if the elasticity is less than the one. The intuition is as follows. If the elasticity of subtitutiOfl is one, share of labor is constant. Th ...
GCE Economics Mark Scheme Unit 02 - The National
... No specific marks are awarded for QWC. However, examiners should take into account QWC when determining the mark to be awarded for an answer. This means an answer could be taken either up (for exceptional QWC) or down (for very poor QWC) by 1 mark (and no more). ...
... No specific marks are awarded for QWC. However, examiners should take into account QWC when determining the mark to be awarded for an answer. This means an answer could be taken either up (for exceptional QWC) or down (for very poor QWC) by 1 mark (and no more). ...
Aggregate Supply
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the ...
GEOG3650 - Department of Geography, HKU
... have an absolute advantage to produce everything, so as a country would not have an absolute disadvantage of producing everything. That is to say, the “rich” country’s absolute advantage over the “poor” country in one product is relatively ...
... have an absolute advantage to produce everything, so as a country would not have an absolute disadvantage of producing everything. That is to say, the “rich” country’s absolute advantage over the “poor” country in one product is relatively ...
Document
... EU’s economic and social policy in 2016: relaunching investment, pursuing structural reforms to modernise Member States’ economies, and responsible fiscal policies. At the same time, the Commission published the Alert Mechanism Report that initiated the fifth annual round of the macroeconomic imbala ...
... EU’s economic and social policy in 2016: relaunching investment, pursuing structural reforms to modernise Member States’ economies, and responsible fiscal policies. At the same time, the Commission published the Alert Mechanism Report that initiated the fifth annual round of the macroeconomic imbala ...
Transforming Competitiveness in European Transition Economies: The Role of Foreign Direct Investment
... During the past several years the debate in the transition economies shifted from stabilization and recovery to growth and convergence. The aim of this paper is to illustrate the growing importance of investment liberalization for the transition economies in Europe in achieving convergence and its s ...
... During the past several years the debate in the transition economies shifted from stabilization and recovery to growth and convergence. The aim of this paper is to illustrate the growing importance of investment liberalization for the transition economies in Europe in achieving convergence and its s ...
WIDER Annual Lecture 9
... empirical work on inequality and development, much of it ably reviewed in major reports from the United Nations Development Programme (UNDP), Inter-American Development Bank (IDB), and recently by the World Bank.4 Still there is no agreement among economists, and no particular attention among develo ...
... empirical work on inequality and development, much of it ably reviewed in major reports from the United Nations Development Programme (UNDP), Inter-American Development Bank (IDB), and recently by the World Bank.4 Still there is no agreement among economists, and no particular attention among develo ...
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.