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British Economic Growth, 1270-1870
... Database assembled by Campbell (2000; 2007), drawing upon the archival labours of a number of other historians, including David Farmer, John Langdon and Jan Titow. The information on arable yields and animal stocking densities is taken largely from manorial accounts, but is supplemented by informati ...
... Database assembled by Campbell (2000; 2007), drawing upon the archival labours of a number of other historians, including David Farmer, John Langdon and Jan Titow. The information on arable yields and animal stocking densities is taken largely from manorial accounts, but is supplemented by informati ...
Business fixed investment
... The Stock Market and Tobin’s q • The numerator of Tobin’s q is the value of the economy’s capital as determined by the stock market • The denominator is the price of capital as if it were purchased today • Tobin reasoned that net investment should depend on whether q is greater or less than 1 – If q ...
... The Stock Market and Tobin’s q • The numerator of Tobin’s q is the value of the economy’s capital as determined by the stock market • The denominator is the price of capital as if it were purchased today • Tobin reasoned that net investment should depend on whether q is greater or less than 1 – If q ...
Do Poverty Traps Exist? - Open Knowledge Repository
... manages to accumulate capital greater than some threshold z, the country is assumed to have a high saving rate s**>s*. This results in a high steady-state capital stock at k**>k* and a higher level of per capita income. This simple framework encapsulates the basic idea that self-perpetuating mechani ...
... manages to accumulate capital greater than some threshold z, the country is assumed to have a high saving rate s**>s*. This results in a high steady-state capital stock at k**>k* and a higher level of per capita income. This simple framework encapsulates the basic idea that self-perpetuating mechani ...
UNIT 8
... Factors of production were covered in Unit 1 and these will be relevant to the discussion of developed and developing countries. The idea that various economies will be at different stages of development is linked to the concept of economic growth, discussed in Unit 6, and to the concept of Gross Do ...
... Factors of production were covered in Unit 1 and these will be relevant to the discussion of developed and developing countries. The idea that various economies will be at different stages of development is linked to the concept of economic growth, discussed in Unit 6, and to the concept of Gross Do ...
Wireless Network Pricing Chapter 3: Economics
... A competitive firm is price-taking and acts as if the market price is independent of the quantity produced and sold by the firm. The above definition reflects the reality when the firm faces many competitors in the same market. Each firm’s production decision is unlikely to significantly change the ...
... A competitive firm is price-taking and acts as if the market price is independent of the quantity produced and sold by the firm. The above definition reflects the reality when the firm faces many competitors in the same market. Each firm’s production decision is unlikely to significantly change the ...
Review Quiz Answers Econ 103
... measurement problem. Real GDP omits the underground economy, economic activity that is legal but unreported or that is illegal. In many countries the underground economy is an important part of economic activity, and its omission creates a serious measurement problem. Real GDP does not include a mea ...
... measurement problem. Real GDP omits the underground economy, economic activity that is legal but unreported or that is illegal. In many countries the underground economy is an important part of economic activity, and its omission creates a serious measurement problem. Real GDP does not include a mea ...
Review Questions and Answers for Chapter 11
... full-employment level of GDP. Therefore, additional resources can be employed without bidding up prices because there is such a high degree of unemployed resources and unused capacity. The intermediate range is upward sloping because at this level GDP is approaching or at full employment. In some re ...
... full-employment level of GDP. Therefore, additional resources can be employed without bidding up prices because there is such a high degree of unemployed resources and unused capacity. The intermediate range is upward sloping because at this level GDP is approaching or at full employment. In some re ...
Is there a monetary growth imperative?
... Note the critical conceptual framing here: neoclassical economics sees interest and growth as independent of money. Both concepts are explained by certain characteristics of the capital stock (positive but diminishing returns on accumulation), individual preferences (saving vs. consuming) and techn ...
... Note the critical conceptual framing here: neoclassical economics sees interest and growth as independent of money. Both concepts are explained by certain characteristics of the capital stock (positive but diminishing returns on accumulation), individual preferences (saving vs. consuming) and techn ...
Chapter 17 - Aggregate Demand and Aggregate Supply
... What are these other influences on GDP? Equilibrium GDP will change whenever there is a change in any of the following ...
... What are these other influences on GDP? Equilibrium GDP will change whenever there is a change in any of the following ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Studies in Income and Wealth
... their units operating within the territory were included in the national or colonial economy; their units operating abroad continued to be regarded as foreign. Hence all items of income and expenditure attributable to units operating within the colony, including the value of the service of capital p ...
... their units operating within the territory were included in the national or colonial economy; their units operating abroad continued to be regarded as foreign. Hence all items of income and expenditure attributable to units operating within the colony, including the value of the service of capital p ...
Inflation As Restructuring. Chapter 2: Macroeconomic Perspectives
... which the adjustment takes place.' In other words, a theoretical framework where disequilibrium generates equilibrating forces is incomplete unless we specify a dynamic 'adjustment mechanism' to explain the speed at which the system moves toward equilibrium. Phillips indeed suggested that wage infla ...
... which the adjustment takes place.' In other words, a theoretical framework where disequilibrium generates equilibrating forces is incomplete unless we specify a dynamic 'adjustment mechanism' to explain the speed at which the system moves toward equilibrium. Phillips indeed suggested that wage infla ...
PDF
... oriented. This is also one of the biggest requirements for export of national food products. Since the majority of small producers will not be able to obtain these certificates, termination of their work is expected. The example we have in the baking industry and the cluster Pekos which represent th ...
... oriented. This is also one of the biggest requirements for export of national food products. Since the majority of small producers will not be able to obtain these certificates, termination of their work is expected. The example we have in the baking industry and the cluster Pekos which represent th ...
The Impact of Entrepreneurship on Economic Growth
... See also Gartner (1989, p. 64) who asserts that ‘The entrepreneur is not a fixed state of existence, rather entrepreneurship is a role that individuals undertake to create organizations’ and Schumpeter (1934, p. 78) who states that ‘Because being an entrepreneur is not a profession and as a rule not ...
... See also Gartner (1989, p. 64) who asserts that ‘The entrepreneur is not a fixed state of existence, rather entrepreneurship is a role that individuals undertake to create organizations’ and Schumpeter (1934, p. 78) who states that ‘Because being an entrepreneur is not a profession and as a rule not ...
Natural Resource Abundance and Economic
... beneficial "forward and backward linkages" from primary exports to the rest of the economy would be small. The basic idea was that manufacturing, as opposed to natural-resource production, leads to a more complex division of labor and hence to a higher standard of living. This negative assessment of ...
... beneficial "forward and backward linkages" from primary exports to the rest of the economy would be small. The basic idea was that manufacturing, as opposed to natural-resource production, leads to a more complex division of labor and hence to a higher standard of living. This negative assessment of ...
CAuSES ANd ChArACTEriSTiCS Of BuSiNESS CYClE iN liThuANiA
... of these variables to technology and non-technology shocks. Among the most important findings of the model for G7 economies is the evidence that hours exhibit a permanent negative response to a positive technology shock and a conclusion that working hours correlate negatively with labour productivit ...
... of these variables to technology and non-technology shocks. Among the most important findings of the model for G7 economies is the evidence that hours exhibit a permanent negative response to a positive technology shock and a conclusion that working hours correlate negatively with labour productivit ...
Theme 4 A global perspective
... Increased mobility of labour allows access to foreign know-how, skilled workers, remittances etc. ...
... Increased mobility of labour allows access to foreign know-how, skilled workers, remittances etc. ...
Economic Outlook
... believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. Under no circumstances shall MOODY’S have any liability to any person or entity fo ...
... believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. Under no circumstances shall MOODY’S have any liability to any person or entity fo ...
AD and AS honors version
... price level fall in the short run. Over time, a change in expectations causes wages, prices, and perceptions to adjust, and the short-run aggregate supply curve shifts rightward. In the long run, the economy returns to the natural rates of output and unemployment, but with a lower price level. ...
... price level fall in the short run. Over time, a change in expectations causes wages, prices, and perceptions to adjust, and the short-run aggregate supply curve shifts rightward. In the long run, the economy returns to the natural rates of output and unemployment, but with a lower price level. ...
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.