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Chapter 3
... accumulation and its link to savings decisions. • It highlights the role of technological advances in determining long-run growth. • Growth theory attempts to explain: – How economic decisions affect the accumulation of the factors of production – Why some nations such as the US and Japan have grown ...
... accumulation and its link to savings decisions. • It highlights the role of technological advances in determining long-run growth. • Growth theory attempts to explain: – How economic decisions affect the accumulation of the factors of production – Why some nations such as the US and Japan have grown ...
NBER WORKING PAPER SERIES WEALTH TRANSFERS, CONTAGION, AND PORTFOLIO CONSTRAINTS Anna Pavlova
... the relative importance of the common discount factor channel has also been questioned. Although this theory is able to explain why a crisis may spill over to countries with no trade relationships, it cannot explain why some countries suffer disproportionately more than others. At times of crises, t ...
... the relative importance of the common discount factor channel has also been questioned. Although this theory is able to explain why a crisis may spill over to countries with no trade relationships, it cannot explain why some countries suffer disproportionately more than others. At times of crises, t ...
NBER WORKING PAPER SERIES TARIFFS, EMPLOYMENT AND THE CURRENT ACCOUNT:
... negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the ternis at which future ...
... negative impact on the CA or potentially even a positive impact, because they increase the consumption rate of interest (the ternis at which future ...
Chapter 27 The Phillips Curve and Expectations Theory 1. The
... a. Incorrect. The hypothesis that people believe the best indicator of the future in the recent past is known as adaptive expectations. b. Correct. The hypothesis that people believe the best indicator of the future in the recent past is known as adaptive expectations. c. Incorrect. This is a meanin ...
... a. Incorrect. The hypothesis that people believe the best indicator of the future in the recent past is known as adaptive expectations. b. Correct. The hypothesis that people believe the best indicator of the future in the recent past is known as adaptive expectations. c. Incorrect. This is a meanin ...
Keynesian Foundations of Modern Macroeconomics
... The Keynesian model implies a 90°, angle-shaped SRAS curve that is flat for outputs less than potential GDP (YF) -- because of downward wage and price inflexibility. This flat range is often referred to as the Keynesian range. Output here is entirely dependent on the level of aggregate demand. As th ...
... The Keynesian model implies a 90°, angle-shaped SRAS curve that is flat for outputs less than potential GDP (YF) -- because of downward wage and price inflexibility. This flat range is often referred to as the Keynesian range. Output here is entirely dependent on the level of aggregate demand. As th ...
Moving to a New Global Competitiveness Index
... The Global Competitiveness Report (GCR) has long been a globally recognized ranking of country competitiveness and a tool for benchmarking country strengths and weaknesses. In an effort to continually introduce the best available methodology in preparing the rankings, there has been a series of impr ...
... The Global Competitiveness Report (GCR) has long been a globally recognized ranking of country competitiveness and a tool for benchmarking country strengths and weaknesses. In an effort to continually introduce the best available methodology in preparing the rankings, there has been a series of impr ...
Consumption - The University of Chicago Booth School of Business
... • When banks stop lending (for whatever reason), this will have a real effect on economic activity because it directly affects firms (and consumers). • We refer to the inability to undertake optimal economic activity because of a lack of financing as resulting in a binding “liquidity constraint”. • ...
... • When banks stop lending (for whatever reason), this will have a real effect on economic activity because it directly affects firms (and consumers). • We refer to the inability to undertake optimal economic activity because of a lack of financing as resulting in a binding “liquidity constraint”. • ...
Chapter 11 Keynesianism: The Macroeconomics of Wage and Price
... In the efficiency wage model, if the real wage is higher than the market-clearing wage so that there is an excess supply of labor, (a) firms will hire new workers at lower wages. (b) firms will replace high-paid workers with low-paid, formerly unemployed workers. (c) employers will not hire workers ...
... In the efficiency wage model, if the real wage is higher than the market-clearing wage so that there is an excess supply of labor, (a) firms will hire new workers at lower wages. (b) firms will replace high-paid workers with low-paid, formerly unemployed workers. (c) employers will not hire workers ...
Ease of doing business and distance to frontier
... performance of economies only relative to the performance of others. It does not provide information on how the absolute quality of the regulatory environment is improving over time. Nor does it provide information on how large the gaps are between economies at a single point in time. The distance t ...
... performance of economies only relative to the performance of others. It does not provide information on how the absolute quality of the regulatory environment is improving over time. Nor does it provide information on how large the gaps are between economies at a single point in time. The distance t ...
PROBLEMS AND SOLUTIONS for B-level course Joakim Persson
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
... total factor productivity between the years? Problem 8.3: Assume an economy which is characterized by perfect competition in the goods and labor market, in which the owners of capital get one-third of national income, and the workers receive two-thirds. Assume a Cobb-Douglas aggregate production fun ...
The Effects of Government Spending Shocks on Consumption under
... Recently, it has been investigated in both theoretical and empirical literature if departures from standard assumptions about consumer behaviour could provide more support for the Keynesian view. Galí et al. (2007) and Erceg et al. (2006) …nd support for the proposition that presence of ‘hand-to-mou ...
... Recently, it has been investigated in both theoretical and empirical literature if departures from standard assumptions about consumer behaviour could provide more support for the Keynesian view. Galí et al. (2007) and Erceg et al. (2006) …nd support for the proposition that presence of ‘hand-to-mou ...
AP 宏觀經濟學講義
... To understand how monetary policy works, students must understand the definitions of both the money supply and money demand and the factors that affect each of them. Here the course introduces students to the definition of money and other financial assets such as bonds and stocks, the time value of ...
... To understand how monetary policy works, students must understand the definitions of both the money supply and money demand and the factors that affect each of them. Here the course introduces students to the definition of money and other financial assets such as bonds and stocks, the time value of ...
The Sraffian Supermultiplier - Instituto de Economia
... mean it has reached either 'full capacity' (since normally there will be some planned margin of spare capacity) nor 'full employment' (since capacity output refers only to capital equipment and there is no reason to assume that the size and form of such a stock will be large enough to employ the who ...
... mean it has reached either 'full capacity' (since normally there will be some planned margin of spare capacity) nor 'full employment' (since capacity output refers only to capital equipment and there is no reason to assume that the size and form of such a stock will be large enough to employ the who ...
60s - Eurobank
... growth path (divergence) compared to that which other developed market economies (USA, Japan and EU-15) have followed during the last 40 years (1974-2013). The not negligible contribution of the capital factor only partially managed to offset this weak growth behavior. Things were more successful du ...
... growth path (divergence) compared to that which other developed market economies (USA, Japan and EU-15) have followed during the last 40 years (1974-2013). The not negligible contribution of the capital factor only partially managed to offset this weak growth behavior. Things were more successful du ...
test #1 production possibilities / growth / circular flow
... e) an increase in inflationary expectations 16) which of the following would cause the unemployment rate to increase? I. a woman who quits her job to spend more time with his children II. a man who has not looked for a job in two years but is now looking III. a woman who quits her job and begins lo ...
... e) an increase in inflationary expectations 16) which of the following would cause the unemployment rate to increase? I. a woman who quits her job to spend more time with his children II. a man who has not looked for a job in two years but is now looking III. a woman who quits her job and begins lo ...
research paper series Research Paper 2006/26
... umented evidence across many countries that within-group wage inequality is important and has increased (see Katz and Autor, 1999; Barth and Lucifora, 2006). Although the observed increase in within-group wage inequality has been parallel to the recent surge in intermediate goods trade (usually ref ...
... umented evidence across many countries that within-group wage inequality is important and has increased (see Katz and Autor, 1999; Barth and Lucifora, 2006). Although the observed increase in within-group wage inequality has been parallel to the recent surge in intermediate goods trade (usually ref ...
Impact of FDI, ODA and Migrant remittances on Economic Growth in
... the impact of foreign investment, see for example Aitken and Harrison (1999), or Haddad and Harrison (1993), suggest that foreign owned production is more productive than domestically owned production, and this assumption has formed the basis of a theoretical literature, based on the models of Gros ...
... the impact of foreign investment, see for example Aitken and Harrison (1999), or Haddad and Harrison (1993), suggest that foreign owned production is more productive than domestically owned production, and this assumption has formed the basis of a theoretical literature, based on the models of Gros ...
AP Macroeconomics Syllabus/Schedule Course Description AP
... *Explain the three functions of money and how it is measured. *Explain how the money supply is measured. *Explain what present and future value measures. *Explain what banks do. *Explain the following terms: bank reserves, reserve ratio, excess. *Explain how the process of fractional reserve banking ...
... *Explain the three functions of money and how it is measured. *Explain how the money supply is measured. *Explain what present and future value measures. *Explain what banks do. *Explain the following terms: bank reserves, reserve ratio, excess. *Explain how the process of fractional reserve banking ...
mmi-funke 221764 en
... chancellor, has set five economic tests to gauge whether Britain is ready to take the plunge. The government will recommend to join if there is sustainable convergence between the economic cycles in the UK and Euroland; if joining would not harm the City; if it would help foreign investment; if it w ...
... chancellor, has set five economic tests to gauge whether Britain is ready to take the plunge. The government will recommend to join if there is sustainable convergence between the economic cycles in the UK and Euroland; if joining would not harm the City; if it would help foreign investment; if it w ...
0538469382_255891
... c. In the long-run, the rightward shift of the short-run aggregate supply curve (SRAS) will establish long-run equilibrium where the aggregate demand curve (AD2) intersects the long-run aggregate supply curve (LRAS). 10. In A-8, the self-correcting AD/AS model predicts that the long-run result of th ...
... c. In the long-run, the rightward shift of the short-run aggregate supply curve (SRAS) will establish long-run equilibrium where the aggregate demand curve (AD2) intersects the long-run aggregate supply curve (LRAS). 10. In A-8, the self-correcting AD/AS model predicts that the long-run result of th ...
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.