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Transfer Problem Dynamics: Macroeconomics of the Franco
... including – but not exclusively – the transfer payment shock. While the transfer represented a huge macroeconomic shock to the French economy, the evidence suggests that there were other large shocks at the time. We identify shocks to government spending (fiscal policy) and a proxy variable for aggr ...
... including – but not exclusively – the transfer payment shock. While the transfer represented a huge macroeconomic shock to the French economy, the evidence suggests that there were other large shocks at the time. We identify shocks to government spending (fiscal policy) and a proxy variable for aggr ...
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. ...
IS-LM
... 1973–1974 oil price shock (though it did during the 1979–1980 shock) • It could be that people expected the 1973–1974 oil price shock to be permanent • In that case the real interest rate would not necessarily rise • If so, people’s expectations were correct, since the 1973–1974 shock seems to have ...
... 1973–1974 oil price shock (though it did during the 1979–1980 shock) • It could be that people expected the 1973–1974 oil price shock to be permanent • In that case the real interest rate would not necessarily rise • If so, people’s expectations were correct, since the 1973–1974 shock seems to have ...
Economic Growth with Bubbles
... demographics and on the valuation of intangible capital. In a similar vein, Shiller (2005) analyzed and also discarded popular explanations for the run-up in home prices based on the evolution of demographics, the interest rate and construction costs. Today, these explanations seem even less plausib ...
... demographics and on the valuation of intangible capital. In a similar vein, Shiller (2005) analyzed and also discarded popular explanations for the run-up in home prices based on the evolution of demographics, the interest rate and construction costs. Today, these explanations seem even less plausib ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Another avenue that monetary authorities can fight deflation is to devalue the domestic currency via large open market sales of the domestic currency in order to generate sufficient import price inflation and raising foreign demand for domestic goods and services. However, in Zimbabwe monetary autho ...
... Another avenue that monetary authorities can fight deflation is to devalue the domestic currency via large open market sales of the domestic currency in order to generate sufficient import price inflation and raising foreign demand for domestic goods and services. However, in Zimbabwe monetary autho ...
E Economic and Social Council United Nations
... been poor. These countries have not made much progress in bringing down the rates of infant, under-5 and maternal mortality. Most of them will probably fail to achieve the Millennium Development Goal targets for those indicators. Their poor performance is also evident in the prevalence of diseases, ...
... been poor. These countries have not made much progress in bringing down the rates of infant, under-5 and maternal mortality. Most of them will probably fail to achieve the Millennium Development Goal targets for those indicators. Their poor performance is also evident in the prevalence of diseases, ...
The Long-Run Aggregate Supply Curve Page 1 of 3
... labor prices determine your costs. And if all of those prices rise at the same rate, there’s been no change in the relative prices of output and inputs. There is no new opportunity for profit. You're back where you started. So in the long run after all prices have completed their adjustment, there’s ...
... labor prices determine your costs. And if all of those prices rise at the same rate, there’s been no change in the relative prices of output and inputs. There is no new opportunity for profit. You're back where you started. So in the long run after all prices have completed their adjustment, there’s ...
... Voluntary Unemployment: Voluntary unemployment is defined as a situation when workers choose not to work at the current equilibrium wage rate. For one reason or another, workers may elect not to participate in the labour market. There are several reasons for the existence of voluntary unemployment i ...
Growth and Change in the Vietnamese Labour Market:
... of the economy. This paper describes the development and application of such a large-scale CGE model for Vietnam, one which places particular emphasis on the role of the demand for, and supply of, labour distinguished by occupation and level of educational attainment. Hereafter, we refer to this mod ...
... of the economy. This paper describes the development and application of such a large-scale CGE model for Vietnam, one which places particular emphasis on the role of the demand for, and supply of, labour distinguished by occupation and level of educational attainment. Hereafter, we refer to this mod ...
Week 9 Practice Quiz f Answers
... place after the economy gets to its short run equilibrium. Which of the following statements is unambiguously true? For this problem, circle only one of the following answers. This comes directly from last week’s lecture. Both via self correcting mechanism and Fed stabilization policy, there is perf ...
... place after the economy gets to its short run equilibrium. Which of the following statements is unambiguously true? For this problem, circle only one of the following answers. This comes directly from last week’s lecture. Both via self correcting mechanism and Fed stabilization policy, there is perf ...
Sample Chapter 13
... (Extending the life of the machine beyond 1 year complicates the economic calculation but does not change the fundamental analysis.) Suppose the net expected revenue from the machine (that is, after such operating costs as power, lumber, labor, and certain taxes have been subtracted) is $1100. Then ...
... (Extending the life of the machine beyond 1 year complicates the economic calculation but does not change the fundamental analysis.) Suppose the net expected revenue from the machine (that is, after such operating costs as power, lumber, labor, and certain taxes have been subtracted) is $1100. Then ...
Modeling the Transition to a New Economy
... That particular transition to a new economy is viewed by many as paradigmatic of what happens after any major and sustained increase in the pace of technical change. The transition has three main features: a productivity paradox, a surprisingly long delay between the increase in the pace of technica ...
... That particular transition to a new economy is viewed by many as paradigmatic of what happens after any major and sustained increase in the pace of technical change. The transition has three main features: a productivity paradox, a surprisingly long delay between the increase in the pace of technica ...
Public Policy and Private Investment in Pakistan
... whereas real interest rates on loan-able funds are kept low by government for a variety of reasons. In such circumstances the investor cannot be expected to equate the current marginal product of capital to its services cost. Indeed, these countries are facing the problem of limited financing resour ...
... whereas real interest rates on loan-able funds are kept low by government for a variety of reasons. In such circumstances the investor cannot be expected to equate the current marginal product of capital to its services cost. Indeed, these countries are facing the problem of limited financing resour ...
PDF
... income between sectors, involving deadweight costs? Typical commodity policies in agriculture include price supports, export subsidies and trade barriers. PARI is a public good that increases productivity and overall welfare, but which may affect the two sectors differently. Each sector's share of t ...
... income between sectors, involving deadweight costs? Typical commodity policies in agriculture include price supports, export subsidies and trade barriers. PARI is a public good that increases productivity and overall welfare, but which may affect the two sectors differently. Each sector's share of t ...
Chapter 12
... households have one unit less of real disposable income. In subsequent years, Vt − Tt and, hence, real disposable income return to their original levels. ...
... households have one unit less of real disposable income. In subsequent years, Vt − Tt and, hence, real disposable income return to their original levels. ...
nzalu francis muli project
... in inflation were found to be statistically significant determinant of real estate growth. A summary of the regression results showed that the variables considered could explain up to about 70% of variations in the investment growth. The study recommended that Policy measures geared toward improving ...
... in inflation were found to be statistically significant determinant of real estate growth. A summary of the regression results showed that the variables considered could explain up to about 70% of variations in the investment growth. The study recommended that Policy measures geared toward improving ...
Urbanization with and without Structural Transformation
... An explanation for this muddled relationship can be seen by breaking up the sample based on the importance of natural resources exports – a term that we define here as including agricultural exports.1 Within figure 2 countries with natural resources exports as a percent of GDP over 10% are denoted i ...
... An explanation for this muddled relationship can be seen by breaking up the sample based on the importance of natural resources exports – a term that we define here as including agricultural exports.1 Within figure 2 countries with natural resources exports as a percent of GDP over 10% are denoted i ...
Reconstruction Dynamics: The Impact of World War II on Post%War
... concerns about the identi…cation of this e¤ect, as the hitherto employed measures of the postwar output gap may not have been completely exogenous to other factors that determined the long-run growth potential of di¤erent economies. To address these concerns, we propose a revised approach that provi ...
... concerns about the identi…cation of this e¤ect, as the hitherto employed measures of the postwar output gap may not have been completely exogenous to other factors that determined the long-run growth potential of di¤erent economies. To address these concerns, we propose a revised approach that provi ...
Working Paper 147
... relationship between these two variables in modern, industrialised economies. In these countries, the growth process is the result of a combination of technological change, capital accumulation -either physical or human-, and changes in the supply of labour. I will argue that each of these represent ...
... relationship between these two variables in modern, industrialised economies. In these countries, the growth process is the result of a combination of technological change, capital accumulation -either physical or human-, and changes in the supply of labour. I will argue that each of these represent ...
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.