![Chapter 16: Equilibrium in a Macroeconomic Model](http://s1.studyres.com/store/data/014238825_1-af753a12d41dc039d6a0acfbd1cd0954-300x300.png)
Chapter 16: Equilibrium in a Macroeconomic Model
... monthly, quarterly or annually. To simplify our discussion, we will focus on annual measures of income and output. GDP, then, is the market value of final goods and services produced by the economy in one year's time. ...
... monthly, quarterly or annually. To simplify our discussion, we will focus on annual measures of income and output. GDP, then, is the market value of final goods and services produced by the economy in one year's time. ...
will flat-lining become normal?
... returns are divided between labour and capital. If the split (the ratio) can be taken as given (or indeed if returns to labour can be taken as fixed), then a rosier economic outlook implies that returns to capital will be greater. If investors, responding to a rosier economic outlook, did not demand ...
... returns are divided between labour and capital. If the split (the ratio) can be taken as given (or indeed if returns to labour can be taken as fixed), then a rosier economic outlook implies that returns to capital will be greater. If investors, responding to a rosier economic outlook, did not demand ...
problems and solutions revized
... 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 ...
Hungary, Slovakia and the Czech Republic: Longer
... The parameters of equations underlying the growth rate projections tend to be derived econometrically from large heterogeneous panels, with data on the past performance of many countries largely unrelated to Central and Eastern Europe (and to Europe generally). In a recent study by Wagner and Hlousk ...
... The parameters of equations underlying the growth rate projections tend to be derived econometrically from large heterogeneous panels, with data on the past performance of many countries largely unrelated to Central and Eastern Europe (and to Europe generally). In a recent study by Wagner and Hlousk ...
Impact of Sectoral Growth on Poverty under Alternative
... consumer items like ‘food and beverages’, ‘textiles’, etc. to take care of investment. For the rapid development of the economy, the ‘cement and other non-metallic mineral products’, which are basically inputs to the construction are assuming importance. Their growth will give a fillip to the crucia ...
... consumer items like ‘food and beverages’, ‘textiles’, etc. to take care of investment. For the rapid development of the economy, the ‘cement and other non-metallic mineral products’, which are basically inputs to the construction are assuming importance. Their growth will give a fillip to the crucia ...
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 ...
The Success Stories of Developmental State Paradigm
... 2010; UNECA, 2011). Getting the “prices wrong” from a free market perspective may well create conducive ground for renewing or evolving the notion of developmental state paradigm for sustainable development. State ideology and institutions are crucial which among the determinants of the political ca ...
... 2010; UNECA, 2011). Getting the “prices wrong” from a free market perspective may well create conducive ground for renewing or evolving the notion of developmental state paradigm for sustainable development. State ideology and institutions are crucial which among the determinants of the political ca ...
10-1-9.CHP:Corel VENTURA - Erasmus Universiteit Rotterdam
... economy to the entrepreneurial economy. We do this by contrasting the most fundamental elements of the newly emerging entrepreneurial economy with those of the managed economy. Contrasting the managed economy with the entrepreneurial economy is not, however, symmetric. While scholars have accumulate ...
... economy to the entrepreneurial economy. We do this by contrasting the most fundamental elements of the newly emerging entrepreneurial economy with those of the managed economy. Contrasting the managed economy with the entrepreneurial economy is not, however, symmetric. While scholars have accumulate ...
Chapter 13
... The population varies over time due to births, deaths, and net immigration (which tends to increase in good economic times). The proportion of the total population that is willing to work is called the labour-force participation rate. Copyright © 2008 Pearson Addison-Wesley. All rights reserved. ...
... The population varies over time due to births, deaths, and net immigration (which tends to increase in good economic times). The proportion of the total population that is willing to work is called the labour-force participation rate. Copyright © 2008 Pearson Addison-Wesley. All rights reserved. ...
Trends in Soviet Labour Productivity, 1928–1985: War, Postwar Recovery, and Slowdown*
... Again, standard economic theory suggests that this shortfall should not have persisted. During the war, the capital stock was damaged or depreciated, and since the destruction of physical assets was proportionately more severe than the demographic loss the capital–labour ratio probably fell; but thi ...
... Again, standard economic theory suggests that this shortfall should not have persisted. During the war, the capital stock was damaged or depreciated, and since the destruction of physical assets was proportionately more severe than the demographic loss the capital–labour ratio probably fell; but thi ...
19.3 aggregate demand
... An increase in expected future income increases the amount of consumption goods that people plan to buy today and increases aggregate demand. An increase in expected future inflation increases aggregate demand today because people decide to buy more goods and services now before their prices rise. A ...
... An increase in expected future income increases the amount of consumption goods that people plan to buy today and increases aggregate demand. An increase in expected future inflation increases aggregate demand today because people decide to buy more goods and services now before their prices rise. A ...
Joint Economic Forecasting Group Report - June 2011
... its long-run average, with consumer perceptions of their own finances declining to levels typically associated with economic downturns, weighed down by cost of living pressures. Weak growth in non-mining activity is impacting on the labour market, with employment growth slowing appreciably in the fi ...
... its long-run average, with consumer perceptions of their own finances declining to levels typically associated with economic downturns, weighed down by cost of living pressures. Weak growth in non-mining activity is impacting on the labour market, with employment growth slowing appreciably in the fi ...
macroeconomics
... business cycle The cycle of short-term ups and downs in the economy. The main measure of how an economy is doing is aggregate output: aggregate output The total quantity of goods and services produced in an economy in a given period. recession A period during which aggregate output declines. Convent ...
... business cycle The cycle of short-term ups and downs in the economy. The main measure of how an economy is doing is aggregate output: aggregate output The total quantity of goods and services produced in an economy in a given period. recession A period during which aggregate output declines. Convent ...
http://www.cato.org/pubs/journal/cj18n2/cj18n2-1.pdf
... Solow (1956) suggests that while some economies may be wealthier than others, in the long run they should all grow at the same rate. More recent work has suggested that not only do economies actually have substantially different growth rates over lengthy time periods (Quah 1996, Gwartney and Lawson ...
... Solow (1956) suggests that while some economies may be wealthier than others, in the long run they should all grow at the same rate. More recent work has suggested that not only do economies actually have substantially different growth rates over lengthy time periods (Quah 1996, Gwartney and Lawson ...
In Search of Higher Growth - Inter
... developed world seems to have arrived to a much debated “new normal” of excess liquidity, uninspiring growth (particularly in Europe), and stubbornly high public debt, even as the probability of a systemic event that would dislocate the global financial and economic dynamics has been, if not elimina ...
... developed world seems to have arrived to a much debated “new normal” of excess liquidity, uninspiring growth (particularly in Europe), and stubbornly high public debt, even as the probability of a systemic event that would dislocate the global financial and economic dynamics has been, if not elimina ...
4 - Weber State University
... B) IS curve is negatively sloped. C) position of the IS curve depends on the level of real money balances. D) position of the LM curve depends on the level of real money balances. 3) If the interest rate were to rise, we expect that A) autonomous expenditures will rise. B) the supply of money will f ...
... B) IS curve is negatively sloped. C) position of the IS curve depends on the level of real money balances. D) position of the LM curve depends on the level of real money balances. 3) If the interest rate were to rise, we expect that A) autonomous expenditures will rise. B) the supply of money will f ...
Why does financial sector growth crowd out real economic growth?
... and the other half are financiers. Entrepreneurs and financiers each have an endowment at time t labelled et and ft respectively. (We will ignore time subscripts before we get to the growth section.) Agents live for a single period with non-overlapping generations. At the beginning of each period, e ...
... and the other half are financiers. Entrepreneurs and financiers each have an endowment at time t labelled et and ft respectively. (We will ignore time subscripts before we get to the growth section.) Agents live for a single period with non-overlapping generations. At the beginning of each period, e ...
The increasing importance of developing countries in the global
... (e.g. emissions of CO2 and other greenhouse gases), and inequality (e.g. poverty rates and Gini coefficients). Trade flows of developing economies are also explored, focusing on the enhanced export opportunities for least-developed countries as a result of the trade opening of large, dynamic develop ...
... (e.g. emissions of CO2 and other greenhouse gases), and inequality (e.g. poverty rates and Gini coefficients). Trade flows of developing economies are also explored, focusing on the enhanced export opportunities for least-developed countries as a result of the trade opening of large, dynamic develop ...
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.