J. 1050
... households, we abstract from distribution effects, and so assume that the behaviour of the household sector can be characterized as if it were the outcome of the maximization of a single aggregate utility function. Since we assume for simplicity that total labour supply is fixed and since we are exc ...
... households, we abstract from distribution effects, and so assume that the behaviour of the household sector can be characterized as if it were the outcome of the maximization of a single aggregate utility function. Since we assume for simplicity that total labour supply is fixed and since we are exc ...
PDF
... almost unbounded supply of primary commodities to satisfy the North’s demand and for which the South itself demanded little. Recently, however, the growth club has expanded into parts of the South, particularly China, India and several other countries which constitute more than 40% of world populati ...
... almost unbounded supply of primary commodities to satisfy the North’s demand and for which the South itself demanded little. Recently, however, the growth club has expanded into parts of the South, particularly China, India and several other countries which constitute more than 40% of world populati ...
Endogenous Technical Change in Alternative Theories
... The Cambridge capital controversy of the 1960s has warned in a definitive way about the logical shortcomings of neoclassical aggregate capital theory. While the neoclassical prescriptions about factor substitution and the distribution of income hold true in a one-good economy, it is not possible to ...
... The Cambridge capital controversy of the 1960s has warned in a definitive way about the logical shortcomings of neoclassical aggregate capital theory. While the neoclassical prescriptions about factor substitution and the distribution of income hold true in a one-good economy, it is not possible to ...
Improvements to timely measures of service sector output
... Such change leads to a growing proportion of economy being classified as services, providing intermediate inputs. It does not change the structure of final demand, unless the intermediate services are exported. However it does change the proportion of GVA attributed to service sector firms in the e ...
... Such change leads to a growing proportion of economy being classified as services, providing intermediate inputs. It does not change the structure of final demand, unless the intermediate services are exported. However it does change the proportion of GVA attributed to service sector firms in the e ...
Military Keynesianism in the Third World: An
... qualitatively, the capabilities of their smaller, poorer neighbors. Clearly, however, Neuman's results and conclusions apply only in a general sort of way, given numerous smaller countries - Ecuador, Peru, Chile and Dominican Republic, for example - whose arms industries would not be anticipated in ...
... qualitatively, the capabilities of their smaller, poorer neighbors. Clearly, however, Neuman's results and conclusions apply only in a general sort of way, given numerous smaller countries - Ecuador, Peru, Chile and Dominican Republic, for example - whose arms industries would not be anticipated in ...
Capabilities, Wealth and Trade
... the notion of relative (in a Ricardian sense) scarcity of quality capabilities. (b) We assume that goods are differentiated only by quality (pure vertical differentiation) and are supplied in markets characterized by Nash equilibrium in quantities (Cournot competition). We use this assumption to ens ...
... the notion of relative (in a Ricardian sense) scarcity of quality capabilities. (b) We assume that goods are differentiated only by quality (pure vertical differentiation) and are supplied in markets characterized by Nash equilibrium in quantities (Cournot competition). We use this assumption to ens ...
Exercise 6 (+additional question) in Mankiw:
... 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 ...
Pro-poor growth? - The Economics Network
... East-Asia growth of the 1960s and beyond has seen no conflict between growth and income distribution, meaning income inequality remains constant as growth increased. ...
... East-Asia growth of the 1960s and beyond has seen no conflict between growth and income distribution, meaning income inequality remains constant as growth increased. ...
The Effects of Investment in Telecommunication Infrastructure on
... There is a clear evidence in literature that telecommunication infrastructure serves as a primary sources of economic development (Lei et al, 2004). There are a large number of recent empirical studies on this topic and the interest in the impact of telecommunications on economic growth has been on ...
... There is a clear evidence in literature that telecommunication infrastructure serves as a primary sources of economic development (Lei et al, 2004). There are a large number of recent empirical studies on this topic and the interest in the impact of telecommunications on economic growth has been on ...
Market Intelligence PRODUCT DEMONSTRATION
... a second-round run-off more likely, although Rousseff remains favourite for re-election. Coverholders: No ...
... a second-round run-off more likely, although Rousseff remains favourite for re-election. Coverholders: No ...
Chapter 26: Aggregate Supply and Aggregate Demand
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
PWT 8.0 – a user guide - Industrial Relations Section
... GDP per capita in national currency, so in renminbi (RMB) for China and US dollars (USD) for the US, and these data are directly from National Accounts. Since these values are in ...
... GDP per capita in national currency, so in renminbi (RMB) for China and US dollars (USD) for the US, and these data are directly from National Accounts. Since these values are in ...
Economics and Political Economy
... money supply. Additionally, interest rates are indirectly responsible for inflation with the net effect of high interest rates causing an upward shift in prices. Real GDP was found to have a significantly negative impact on inflation. Kandil researched the effect of government spending on macroecono ...
... money supply. Additionally, interest rates are indirectly responsible for inflation with the net effect of high interest rates causing an upward shift in prices. Real GDP was found to have a significantly negative impact on inflation. Kandil researched the effect of government spending on macroecono ...
SEE 2020 Strategy
... i. Increas e regional GDP PPP per capita from 38% to 46% of the EU-27 average ii. Grow the region’s total value of trade in goods and s ervices by more than 130% iii. Reduce the region’s trade deficit from 14.1 to 11.6 per cent of regional GDP ...
... i. Increas e regional GDP PPP per capita from 38% to 46% of the EU-27 average ii. Grow the region’s total value of trade in goods and s ervices by more than 130% iii. Reduce the region’s trade deficit from 14.1 to 11.6 per cent of regional GDP ...
Why Do More Open Economies Have Bigger Governments?
... external risk, volatility of the terms of trade and the product concentration of exports. In each case, the interaction term is strongly significant (and the fit of the regression improves) while the coefficient on openness per se becomes insignificant or negative. The same result is confirmed in pa ...
... external risk, volatility of the terms of trade and the product concentration of exports. In each case, the interaction term is strongly significant (and the fit of the regression improves) while the coefficient on openness per se becomes insignificant or negative. The same result is confirmed in pa ...
Export Dependence and Sustainability of Growth in China *
... European distribution centre, whereby two-thirds of Dutch imports from China are reexported (Suyker, 2007). In DEE, recent increases in imports have been driven more than just the growth of production facilities linked to global networks or re-exports. Rapid liberalization of trade and foreign inves ...
... European distribution centre, whereby two-thirds of Dutch imports from China are reexported (Suyker, 2007). In DEE, recent increases in imports have been driven more than just the growth of production facilities linked to global networks or re-exports. Rapid liberalization of trade and foreign inves ...
Economics - University of the Punjab
... to above, it is recommended that there must be at least one seminar in each course, within a span of four to six weeks. Some of these seminars may be delivered by a team of students. Students must be given two assignments each month to make sure that they have covered the reading material. The instr ...
... to above, it is recommended that there must be at least one seminar in each course, within a span of four to six weeks. Some of these seminars may be delivered by a team of students. Students must be given two assignments each month to make sure that they have covered the reading material. The instr ...
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.