Technical Appendix 1 to accompany Working
... In the United States, each of the three types of software has a different price index (see Parker and Grimm (2000)). In the case of pre-packaged software, an index using hedonic techniques exists. For own account software, there is no hedonic index and the growth of the price index for this componen ...
... In the United States, each of the three types of software has a different price index (see Parker and Grimm (2000)). In the case of pre-packaged software, an index using hedonic techniques exists. For own account software, there is no hedonic index and the growth of the price index for this componen ...
Lesson 8 - ECO 151
... The second macroeconomic model that we need to explore is known as the Aggregate Demand/Aggregate Supply Model. This model is important to us because, unlike in the Aggregate Expenditures Model, we do not hold prices constant. This is a significant flaw of the Aggregate Expenditures Model. As a resu ...
... The second macroeconomic model that we need to explore is known as the Aggregate Demand/Aggregate Supply Model. This model is important to us because, unlike in the Aggregate Expenditures Model, we do not hold prices constant. This is a significant flaw of the Aggregate Expenditures Model. As a resu ...
The State of Working America 12th Edition
... of the reduction was spurred by a sharp decrease in the labor force participation rate (the share of working-age people who are either employed or unemployed, i.e., jobless but actively seeking work), which dropped by a full percentage point. Most of this decline in labor force participation was due ...
... of the reduction was spurred by a sharp decrease in the labor force participation rate (the share of working-age people who are either employed or unemployed, i.e., jobless but actively seeking work), which dropped by a full percentage point. Most of this decline in labor force participation was due ...
Money, Interest Rates, and Exchange Rates
... Fig 9: Effect of an Increase in the European Money Supply on the $/€ Exchange Rate At point 1 and 1’ the U.S. money market and foreign exchange market are in equilibrium. An increase in the European money supply reduces the euro interest rate, which shifts the “expected euro return” schedule inward ...
... Fig 9: Effect of an Increase in the European Money Supply on the $/€ Exchange Rate At point 1 and 1’ the U.S. money market and foreign exchange market are in equilibrium. An increase in the European money supply reduces the euro interest rate, which shifts the “expected euro return” schedule inward ...
in Acrobat - University of Ottawa
... a combination of both, drive the overall real wage to a value that exceeds its equilibrium level. Generally speaking, the other more sophisticated mainstream theories that explain unemployment attempt to recover the same relationship: there is unemployment because real wages, for some reason or anot ...
... a combination of both, drive the overall real wage to a value that exceeds its equilibrium level. Generally speaking, the other more sophisticated mainstream theories that explain unemployment attempt to recover the same relationship: there is unemployment because real wages, for some reason or anot ...
Présentation PowerPoint - McGraw Hill Higher Education
... when the real interest rate and the rate of depreciation fall and when the investment tax credit rises. A higher corporate tax rate is likely to reduce the desired capital stock. Effects of economic policy: o Fiscal policy exerts an effect through both the corporate tax rate, the investment tax cred ...
... when the real interest rate and the rate of depreciation fall and when the investment tax credit rises. A higher corporate tax rate is likely to reduce the desired capital stock. Effects of economic policy: o Fiscal policy exerts an effect through both the corporate tax rate, the investment tax cred ...
NBER WORKING PAPER SERIES THE CAUSES OF JAPAN’S ‘LOST DECADE’:
... investment) were all negative during the 1991-2003 period even though they were all positive and inventory investment and private fixed investment ranked first and second, respectively, during the 1980-91 period. Turning next to a comparison of the contribution to real GDP growth of each component o ...
... investment) were all negative during the 1991-2003 period even though they were all positive and inventory investment and private fixed investment ranked first and second, respectively, during the 1980-91 period. Turning next to a comparison of the contribution to real GDP growth of each component o ...
Economic globalization: role of inward and outward FDI with
... series data from a period of 1970- 2005 for Malaysia. This study found that there is no evidence of bi-directional causality and long run relationship between FDI and economic growth. This indicates that FDI has an indirect effect on economic growth in Malaysia. A study by Desai, Foley and Hines Jr. ...
... series data from a period of 1970- 2005 for Malaysia. This study found that there is no evidence of bi-directional causality and long run relationship between FDI and economic growth. This indicates that FDI has an indirect effect on economic growth in Malaysia. A study by Desai, Foley and Hines Jr. ...
Growth, Productivity, and the Wealth Of Nations
... Long-term growth rates matter a lot because of compounding. This means that growth is based not only on original levels of income in a country, but also on the accumulation of previous years’ increases in income. © 2003 McGraw-Hill Ryerson Limited. ...
... Long-term growth rates matter a lot because of compounding. This means that growth is based not only on original levels of income in a country, but also on the accumulation of previous years’ increases in income. © 2003 McGraw-Hill Ryerson Limited. ...
Demand Characteristics for Imported Cod Products in
... available here for analysis provides information only on quantity and price of select codfish products exported to Portugal. For this paper, a version of the Proportionally Calibrated Almost Ideal Demand System (PCAIDS) model as developed by Epstein and Rubinfeld (2002, 2004) is used. The PCAIDS mod ...
... available here for analysis provides information only on quantity and price of select codfish products exported to Portugal. For this paper, a version of the Proportionally Calibrated Almost Ideal Demand System (PCAIDS) model as developed by Epstein and Rubinfeld (2002, 2004) is used. The PCAIDS mod ...
China`s Growth Model
... Section 2 explains the methodology used in this paper for analyzing the role of the various components of aggregate demand in economic growth. It presents a case that the importance of external demand to an economy should be measured, not by a country's export surplus relative to GDP, but by the rat ...
... Section 2 explains the methodology used in this paper for analyzing the role of the various components of aggregate demand in economic growth. It presents a case that the importance of external demand to an economy should be measured, not by a country's export surplus relative to GDP, but by the rat ...
Pareto Optimality, the Core, and Competitive Equilibrium
... ... Walrasian demand is homogeneous of degree zero, so if one multiplies all prices by some constant demand does not change. Thus, we can only pin down the relative prices ...
... ... Walrasian demand is homogeneous of degree zero, so if one multiplies all prices by some constant demand does not change. Thus, we can only pin down the relative prices ...
Social and Cultural Dimensions of Market Expansion
... The expansion of trade and markets has produced profound changes in the social conditions and culture of societies around the globe. A short visit to a department store in Singapore, Shanghai or Caracas will convince us of the existence of a global market economy. We can muster and buy shirts made i ...
... The expansion of trade and markets has produced profound changes in the social conditions and culture of societies around the globe. A short visit to a department store in Singapore, Shanghai or Caracas will convince us of the existence of a global market economy. We can muster and buy shirts made i ...
The division of labor and economic development
... criticized because of the vague nature of the external economies considered (see Scitovsky, 1954). In their formalization of Rosenstein-Rodan's Big Push theory, Murphy et al. (1989) show that even with no technological externalities there may be multiple Pareto-rankable equilibria. 9 In their model ...
... criticized because of the vague nature of the external economies considered (see Scitovsky, 1954). In their formalization of Rosenstein-Rodan's Big Push theory, Murphy et al. (1989) show that even with no technological externalities there may be multiple Pareto-rankable equilibria. 9 In their model ...
MDG Strategy Analysis: Methods and an Agenda for
... – Endogenous part depends on economic openness and growth in government infrastructure stocks. – Exogenous part captures what is not explained in model (institutions, new technologies, ….) ...
... – Endogenous part depends on economic openness and growth in government infrastructure stocks. – Exogenous part captures what is not explained in model (institutions, new technologies, ….) ...
The Aggregate
... Suppose the Fed increases the money supply unexpectedly. In the long run, P will rise. ...
... Suppose the Fed increases the money supply unexpectedly. In the long run, P will rise. ...
Ⅰ A good start for China`s steel industry in 2007 Ⅱ Analysis of
... Economic globalization is the basic feature of the current world economic development. Neither developed nor developing countries is a closed market. With the development of world trade, the free flow of goods, the market will achieve a balance between supply and demand in. In 2006, global crude ste ...
... Economic globalization is the basic feature of the current world economic development. Neither developed nor developing countries is a closed market. With the development of world trade, the free flow of goods, the market will achieve a balance between supply and demand in. In 2006, global crude ste ...
Long Term Trends in Steel Consumption
... Nevertheless, the problem of scaling GDP cannot be avoided entirely in our regressions since the variable also appears on the right hand side of our regressions. Subsequently, we will mostly use GDP in current Purchasing Power Parities (PPP). By doing so, the comparison between countries will not be ...
... Nevertheless, the problem of scaling GDP cannot be avoided entirely in our regressions since the variable also appears on the right hand side of our regressions. Subsequently, we will mostly use GDP in current Purchasing Power Parities (PPP). By doing so, the comparison between countries will not be ...
Rishabh Kumar Thrift, stagnation and wealth distribution in a United States
... measured by the output capital ratio. In our model the primary vehicle for wealth accumulation by any class is their saving rate out of income. Classes are distinguished by the functional income distribution - one class earns wages and another earns profits - though both engage in savings. Aggregate ...
... measured by the output capital ratio. In our model the primary vehicle for wealth accumulation by any class is their saving rate out of income. Classes are distinguished by the functional income distribution - one class earns wages and another earns profits - though both engage in savings. Aggregate ...
Table 1: Comparison of Average Values of TFPG and some other
... It is generally argued that Japanese firms behave differently from other firms, either because of their protected domestic base or because they have different financial and institutional structures. (Graham and Krugman 1995). The Japanese FDI are largely undertaken by small and medium sized firms wh ...
... It is generally argued that Japanese firms behave differently from other firms, either because of their protected domestic base or because they have different financial and institutional structures. (Graham and Krugman 1995). The Japanese FDI are largely undertaken by small and medium sized firms wh ...
Effect of Government Capital Expenditure on Manufacturing Sector
... sound and effective policy making and implementation from the government. One of such policies which could be employed is fiscal policy. Fiscal policy is the use of government revenue (taxation) and expenditure (spending) to influence the level of economic activities. Government expenditure which ar ...
... sound and effective policy making and implementation from the government. One of such policies which could be employed is fiscal policy. Fiscal policy is the use of government revenue (taxation) and expenditure (spending) to influence the level of economic activities. Government expenditure which ar ...
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.