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The conditional labor demand from Leontief production function can
... substitute labor with capital, limiting employment growth in state-invested firms. Sectoral reallocation of the state investment is also critical for labor demand. Sectors receiving more state investment may not require high labor intensity for production, and hence the benefit to employment due to ...
... substitute labor with capital, limiting employment growth in state-invested firms. Sectoral reallocation of the state investment is also critical for labor demand. Sectors receiving more state investment may not require high labor intensity for production, and hence the benefit to employment due 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 ...
Chapter 12
... slower pace of hiring workers and a slow recovery that increases inflation, but only slightly. ...
... slower pace of hiring workers and a slow recovery that increases inflation, but only slightly. ...
- Kendriya Vidyalaya No. 2 Raipur
... 16. What do you understand by the problem of how to produce? Ans :- It is the problem of choosing technique of production of goods and services. 17. What does the problem for whom to produce indicate? Ans :- The problem of for whom to produce refers to the distribution of goods and services produce ...
... 16. What do you understand by the problem of how to produce? Ans :- It is the problem of choosing technique of production of goods and services. 17. What does the problem for whom to produce indicate? Ans :- The problem of for whom to produce refers to the distribution of goods and services produce ...
KENDRIYA VIDYALAYA SANGATHAN
... 16. What do you understand by the problem of how to produce? Ans :- It is the problem of choosing technique of production of goods and services. 17. What does the problem for whom to produce indicate? Ans :- The problem of for whom to produce refers to the distribution of goods and services produce ...
... 16. What do you understand by the problem of how to produce? Ans :- It is the problem of choosing technique of production of goods and services. 17. What does the problem for whom to produce indicate? Ans :- The problem of for whom to produce refers to the distribution of goods and services produce ...
DemiDec Fundamental Economics Resource
... Fiscal Policy ..................................................................................................................................... 95 Federal Taxes in the United States ................................................................................................... 96 Shortcomi ...
... Fiscal Policy ..................................................................................................................................... 95 Federal Taxes in the United States ................................................................................................... 96 Shortcomi ...
The US economy from 1992 to 1998: historical and decom-
... developed by the Centre of Policy Studies (CoPS) at Monash University (Australia) in collaboration with the US International Trade Commission (ITC). The model has 500 industries/commodities and allows for multiple trading partners. These features will be appealing to people concerned with environmen ...
... developed by the Centre of Policy Studies (CoPS) at Monash University (Australia) in collaboration with the US International Trade Commission (ITC). The model has 500 industries/commodities and allows for multiple trading partners. These features will be appealing to people concerned with environmen ...
NBER WORKING PAPER SERIES INEQUALITY, NONHOMOTHETIC PREFERENCES, AND TRADE: A GRAVITY APPROACH
... implication of this assumption is that in a world with free trade, the shares of countries and individuals in overall world demand for each good are the same as their shares in world income. Since world demand must equal world supply, a country's consumption pattern can be explained by two things: i ...
... implication of this assumption is that in a world with free trade, the shares of countries and individuals in overall world demand for each good are the same as their shares in world income. Since world demand must equal world supply, a country's consumption pattern can be explained by two things: i ...
Allied Social Science Associations meetings Boston, MA, January 3
... It is Keynes’s fundamental proposition that the level of employment in an economy is determined by effective demand. His attack against the classical view that whenever unemployment exists it could be reduced by a lowering of money wages is based on the necessity to consider the repercussions of wag ...
... It is Keynes’s fundamental proposition that the level of employment in an economy is determined by effective demand. His attack against the classical view that whenever unemployment exists it could be reduced by a lowering of money wages is based on the necessity to consider the repercussions of wag ...
State of the Economy: An Overview
... economy. Given the sheer size of the high-income economies, the global picture closely tracked their patterns. The pick-up in investment growth was the sharpest among the lower middle income countries; and even among them, India stood as a positive outlier. Such movements in investment growth got re ...
... economy. Given the sheer size of the high-income economies, the global picture closely tracked their patterns. The pick-up in investment growth was the sharpest among the lower middle income countries; and even among them, India stood as a positive outlier. Such movements in investment growth got re ...
NBER WORKING PAPER SERIES REAL EXCHANGE RATES AND PRODUCTIVITY GROWTH IN THE
... industries within manufacturing, with Japanese productivity growth exceeding U.S. growth by widely differing margins depending on the industry, the ...
... industries within manufacturing, with Japanese productivity growth exceeding U.S. growth by widely differing margins depending on the industry, the ...
(c) Curriculum for B.Sc. Degree in Economics 100 Level Harmattan
... Classification; the Theory of Production; The firm and pure monopolistic Competition; Oligopoly; Pricing and Employment of Resources. ECO 302: Macroeconomic Theory I (3 UNITS) Introduction to Macro-economics; Measurement of economic Activity; Nigerian National Accounts; National Income Models; Eleme ...
... Classification; the Theory of Production; The firm and pure monopolistic Competition; Oligopoly; Pricing and Employment of Resources. ECO 302: Macroeconomic Theory I (3 UNITS) Introduction to Macro-economics; Measurement of economic Activity; Nigerian National Accounts; National Income Models; Eleme ...
NBER WORKING PAPER SERIES INVESTMENT, OPENNESS AND COUNTRY RISK Joshua Aizenman
... I' Thus, we operate on the upwards sloping portion of the supply of credit as long as c < 1, and we reach the credit ceiling where c = 1. for further details on the factors determining the supply of credit in the presence of country risk see Aizenman (1986). 2/ This assumption is consistent with wel ...
... I' Thus, we operate on the upwards sloping portion of the supply of credit as long as c < 1, and we reach the credit ceiling where c = 1. for further details on the factors determining the supply of credit in the presence of country risk see Aizenman (1986). 2/ This assumption is consistent with wel ...
NBER WORKING PAPER SERIES INDUSTRY DYNAMICS WITH ADJUSTMENT COSTS Robert E. Hall 8849
... changes in labor and capital input in the short run. In such an economy, an increase in demand for an industry’s product causes an extended period of rents, as the industry moves up its supply curve and prices rise. I find that adjustment costs are modest for both labor and capital. The supply funct ...
... changes in labor and capital input in the short run. In such an economy, an increase in demand for an industry’s product causes an extended period of rents, as the industry moves up its supply curve and prices rise. I find that adjustment costs are modest for both labor and capital. The supply funct ...
Devolution and economic growth A publication for the London
... devolution – the OECD Indices of Decentralisation – do not take into account any differences in the ‘quality’ of devolution. For example, while local government may have more expenditure responsibilities, there still may be central government guidelines as to how and where to do this spending. It sh ...
... devolution – the OECD Indices of Decentralisation – do not take into account any differences in the ‘quality’ of devolution. For example, while local government may have more expenditure responsibilities, there still may be central government guidelines as to how and where to do this spending. It sh ...
the returns to education: macroeconomics
... which largely explains why the typical modelling attempts take place at the macro level. The two main macro approaches are the augmented Solow neo-classical approach (2.3) and the ‘new growth theories’ (2.4), with their empirical respective counterparts of growth accounting exercises (2.3) and macro ...
... which largely explains why the typical modelling attempts take place at the macro level. The two main macro approaches are the augmented Solow neo-classical approach (2.3) and the ‘new growth theories’ (2.4), with their empirical respective counterparts of growth accounting exercises (2.3) and macro ...
International Risk Sharing and the Irish Economy Agustín S. Bénétrix IIIS
... frictions, (2) it is an open economy with low trade costs and, (3) factors that have been identified to deter full international risk sharing, such as enforcement problems or capital market restrictions, are absent in this country (see Lane 2000).2 The extensive empirical literature focusing on risk ...
... frictions, (2) it is an open economy with low trade costs and, (3) factors that have been identified to deter full international risk sharing, such as enforcement problems or capital market restrictions, are absent in this country (see Lane 2000).2 The extensive empirical literature focusing on risk ...
The Great Moderation and "Falling Off a Cliff": neo
... • But can this holy grail be both attained and maintained? • The answer depends on the relationship between V and the AA/EE tangency point T (introduced below). 8/5/2011 rev. ...
... • But can this holy grail be both attained and maintained? • The answer depends on the relationship between V and the AA/EE tangency point T (introduced below). 8/5/2011 rev. ...
The political economy of public research investment
... and a `political interaction effect (PIE)' as changes in one policy affect the political support for the other policy, and so the incentives for politicians in determining the other policy. Both interaction effects in¯uence the political optimal policy combination (de Gorter and Swinnen, 1998). This ...
... and a `political interaction effect (PIE)' as changes in one policy affect the political support for the other policy, and so the incentives for politicians in determining the other policy. Both interaction effects in¯uence the political optimal policy combination (de Gorter and Swinnen, 1998). This ...
Practice Papers
... Which of the following is the most likely effect of an effective minimum wage law? A. B. C. D. ...
... Which of the following is the most likely effect of an effective minimum wage law? A. B. C. D. ...
Shadow Economies and Corruption All Over the World: New
... An increase of the shadow economy can lead to reduced state revenues which in turn reduce the quality and quantity of publicly provided goods and services. Ultimately, this can lead to an increase in the tax rates for firms and individuals in the official sector, quite often combined with a deterior ...
... An increase of the shadow economy can lead to reduced state revenues which in turn reduce the quality and quantity of publicly provided goods and services. Ultimately, this can lead to an increase in the tax rates for firms and individuals in the official sector, quite often combined with a deterior ...
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.