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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 ...
Chapter 12: Production and Growth
... The govt can implement policies that raise saving and investment. (Details in next chapter.) Then K will rise, causing productivity and living standards to rise. But this faster growth is temporary, due to diminishing returns to capital: As K rises, the extra output from an additional unit of K ...
... The govt can implement policies that raise saving and investment. (Details in next chapter.) Then K will rise, causing productivity and living standards to rise. But this faster growth is temporary, due to diminishing returns to capital: As K rises, the extra output from an additional unit of K ...
NBER WORKING PAPER SERIES AND THE REAL EXCHANGE RATE
... not necessarily contradict each other. Our argument is based on the observation that the narrative approach identifies mostly anticipated increases in government spending, whereas the SVAR approach identifies mostly unanticipated innovations in public spending. In effect, empirical studies followin ...
... not necessarily contradict each other. Our argument is based on the observation that the narrative approach identifies mostly anticipated increases in government spending, whereas the SVAR approach identifies mostly unanticipated innovations in public spending. In effect, empirical studies followin ...
Baltic Sea Report
... are expanding, but growth is expected to be modest. The global rise of populism and anti-establishment moods, although promising fiscal expansion that may boost short-term growth, builds up risks of protectionism with a negative impact on longterm growth. Nurturing structural strength to improve com ...
... are expanding, but growth is expected to be modest. The global rise of populism and anti-establishment moods, although promising fiscal expansion that may boost short-term growth, builds up risks of protectionism with a negative impact on longterm growth. Nurturing structural strength to improve com ...
NBER WORKING PAPER SERIES REBALANCING GROWTH IN ASIA Eswar S. Prasad
... I show medians rather than means in these calculations to mitigate the effects of outliers in these small samples. In any event, using means rather than medians made little difference to the patterns I discuss in the text. The reported averages treat each country as a unit; there is no weighting for ...
... I show medians rather than means in these calculations to mitigate the effects of outliers in these small samples. In any event, using means rather than medians made little difference to the patterns I discuss in the text. The reported averages treat each country as a unit; there is no weighting for ...
NBER WORKING PAPER SERIES LABOR MARKET RIGIDITIES, TRADE AND UNEMPLOYMENT Elhanan Helpman
... Department of Economics Harvard University 1875 Cambridge Street Cambridge, MA 02138 [email protected] ...
... Department of Economics Harvard University 1875 Cambridge Street Cambridge, MA 02138 [email protected] ...
Class XII Economics
... Consumer’s Bundle : It is a quantitative combination of two goods which can be purchased by a consumer from his given income. Budget set : It is quantitative combination of those bundles which a consumer can purchase his from given income at prevailing market prices. Consumer Budget : It states the ...
... Consumer’s Bundle : It is a quantitative combination of two goods which can be purchased by a consumer from his given income. Budget set : It is quantitative combination of those bundles which a consumer can purchase his from given income at prevailing market prices. Consumer Budget : It states the ...
NBER WORKING PAPER SERIES WAGES AND THE Mark Bus Yongsung Chang
... effort by one percent. Workers' hours simply decrease by one percent, holding output (and welfare) constant. More generally, however, the increase in real wage and effort leads to a lesser decrease in hours, an increase in output, and a fall in effective leisure I, ...
... effort by one percent. Workers' hours simply decrease by one percent, holding output (and welfare) constant. More generally, however, the increase in real wage and effort leads to a lesser decrease in hours, an increase in output, and a fall in effective leisure I, ...
NBER WORKING PAPER SERIES Craig Burnside
... in …nancial economics, it is common to explain inde…nitely persistent di¤erences in rates of return across assets in terms of di¤erences in exposure of these assets to aggregate risk factors. Assets that are more exposed to aggregate risk earn higher average returns. Our empirical analysis demonstr ...
... in …nancial economics, it is common to explain inde…nitely persistent di¤erences in rates of return across assets in terms of di¤erences in exposure of these assets to aggregate risk factors. Assets that are more exposed to aggregate risk earn higher average returns. Our empirical analysis demonstr ...
state of the economy 2014
... and Ukraine pushed oil prices up past $110/barrel while the world held its breath. In the second half of 2014, reports of weakerthan-expected growth in China and Europe (combined with a glut of supply from the United States shale production) pushed oil prices down past $60/barrel. With the recent pl ...
... and Ukraine pushed oil prices up past $110/barrel while the world held its breath. In the second half of 2014, reports of weakerthan-expected growth in China and Europe (combined with a glut of supply from the United States shale production) pushed oil prices down past $60/barrel. With the recent pl ...
Public Investment, Corruption and Growth:
... functions Easterly and Rebelo (1993) find that only public investment in transport and communication generates positive effects on growth for a mixed sample of both developed and developing countries, whereas total public investment has no significant effect. Finally, Miller and Russek (1997) find t ...
... functions Easterly and Rebelo (1993) find that only public investment in transport and communication generates positive effects on growth for a mixed sample of both developed and developing countries, whereas total public investment has no significant effect. Finally, Miller and Russek (1997) find t ...
CHAPTER 16 INVESTMENT SPENDING Chapter Outline The Stock
... only net investment adds to the existing capital stock. The difference, namely depreciation, is determined not only by wear and tear but also by usefulness. For example, while outdated computers may still work, they may nonetheless be replaced by newer, more efficient ones to increase office product ...
... only net investment adds to the existing capital stock. The difference, namely depreciation, is determined not only by wear and tear but also by usefulness. For example, while outdated computers may still work, they may nonetheless be replaced by newer, more efficient ones to increase office product ...
gi-ivaschenko 221436 en
... macroeconomic conditions (inflation, unemployment), the government involvement in the economy (general government consumption as a percentage of GDP), structural factors (the size of the private sector, the share of industrial sector in total output), and demographic shifts (a share of population ag ...
... macroeconomic conditions (inflation, unemployment), the government involvement in the economy (general government consumption as a percentage of GDP), structural factors (the size of the private sector, the share of industrial sector in total output), and demographic shifts (a share of population ag ...
Burnside and Dolar (2000) analyses the relationship among
... has a negative impact on the democratic stance of developing countries, and on economic growth by reducing investment and increasing government consumption. Therefore, our empirical findings do not support the democratization effect of foreign aid nor the development effect. Because of these finding ...
... has a negative impact on the democratic stance of developing countries, and on economic growth by reducing investment and increasing government consumption. Therefore, our empirical findings do not support the democratization effect of foreign aid nor the development effect. Because of these finding ...
MURAYA NORMAN NJUGUNA - University of Nairobi
... First am grateful to the Almighty God for his strength and opportunities in life culminating to this chance to further my studies and undertake this research paper. I am also exceptionally thankful to my supervisors Dr. S. M Nyandemo and Dr. Purma Samanta for their mentorship, valuable insights and ...
... First am grateful to the Almighty God for his strength and opportunities in life culminating to this chance to further my studies and undertake this research paper. I am also exceptionally thankful to my supervisors Dr. S. M Nyandemo and Dr. Purma Samanta for their mentorship, valuable insights and ...
The effects of inequality on growth: a survey of the
... between the demand and supply of capital (the latter corresponding to the level of average wealth of the economy), all agents invest the same amount of capital, i.e. the rich individuals lend capital (the surplus amount of capital) to poor agents at the prevailing interest rate, so that the margina ...
... between the demand and supply of capital (the latter corresponding to the level of average wealth of the economy), all agents invest the same amount of capital, i.e. the rich individuals lend capital (the surplus amount of capital) to poor agents at the prevailing interest rate, so that the margina ...
Exhibit A.9 Aggregate demand and supply model
... 9. The adjustment of nominal incomes to changes in the price level (CPI) is fixed because of the a. volatility of investment spending. b. existence of long-term contracts. c. complete information possessed by workers. d. All of the above answers are correct. ANS a. Incorrect. This is a meaningless ...
... 9. The adjustment of nominal incomes to changes in the price level (CPI) is fixed because of the a. volatility of investment spending. b. existence of long-term contracts. c. complete information possessed by workers. d. All of the above answers are correct. ANS a. Incorrect. This is a meaningless ...
Shadow Economies: Size, Causes, and Consequences
... A. Giles (1999a). The size, causes, and consequences of the shadow economy vary for different types of countries, but some comparisons can be made which might be useful for social scientists and politicians, who must deal with this phenomenon sooner or later. There are several important reasons why ...
... A. Giles (1999a). The size, causes, and consequences of the shadow economy vary for different types of countries, but some comparisons can be made which might be useful for social scientists and politicians, who must deal with this phenomenon sooner or later. There are several important reasons why ...
Inflation Report 4/2000
... the next two years. The fall in forward rates has been so pronounced that this has influenced the inflation projections and the economic scenario in this report. Given an interest rate at about the current level, the inflation projection would be a little less than 2% from the end of 2002. The effec ...
... the next two years. The fall in forward rates has been so pronounced that this has influenced the inflation projections and the economic scenario in this report. Given an interest rate at about the current level, the inflation projection would be a little less than 2% from the end of 2002. The effec ...
inboks ru
... simultaneous equilibria in multiple markets, was initially laid down by Leon Walras (Walras, 2014). The Walrasian model describes rational individuals that optimize their objective functions; all necessary information consists of prices and is uniformly accessible for all participants; markets are p ...
... simultaneous equilibria in multiple markets, was initially laid down by Leon Walras (Walras, 2014). The Walrasian model describes rational individuals that optimize their objective functions; all necessary information consists of prices and is uniformly accessible for all participants; markets are p ...
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.