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The 7 dwarfs of global growth
... the off-chance that Chinese growth would remain the same in 2016 but driven more by consumption than investment, it would still be more supportive for, say, oil demand, than metals demand. ...
... the off-chance that Chinese growth would remain the same in 2016 but driven more by consumption than investment, it would still be more supportive for, say, oil demand, than metals demand. ...
Probably Too Little, Certainly Too Late. An Assessment of
... output level effects of a temporary increase in the growth rate of public investment. On the contrary, Voss (2002) studies the impact of public investment on private investment in the US and Canada, and weakly concludes for crowding out effect. In a widely cited working paper, Perotti (2004) estimat ...
... output level effects of a temporary increase in the growth rate of public investment. On the contrary, Voss (2002) studies the impact of public investment on private investment in the US and Canada, and weakly concludes for crowding out effect. In a widely cited working paper, Perotti (2004) estimat ...
The Case of Greece
... analysis of the data with a view to establishing whether these hypotheses are consistent with the actual course of events in the case of the Greek economy. Section III returns to the question of the relationship between financialization and the recent financial and economic crisis. In this context, ...
... analysis of the data with a view to establishing whether these hypotheses are consistent with the actual course of events in the case of the Greek economy. Section III returns to the question of the relationship between financialization and the recent financial and economic crisis. In this context, ...
Estimating the Size of the Hidden Economy in Peru: A Currency
... 7. Since currency is not the exclusive medium of exchange for informal transactions, the size of the total informal economy may be even larger. As stated by Tanzi (1986), estimates under this approach attempt to measure the income generated through the excessive use of currency and that presumably w ...
... 7. Since currency is not the exclusive medium of exchange for informal transactions, the size of the total informal economy may be even larger. As stated by Tanzi (1986), estimates under this approach attempt to measure the income generated through the excessive use of currency and that presumably w ...
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... The higher A, the greater the responsiveness of the average growth rate to the gap between log('*) and log[ y(0)], that is, the more rapid the convergence to the steady state. The model implies conditional convergencein that, for given x and 9*, the growth rate is higher the lower y(0). The converge ...
... The higher A, the greater the responsiveness of the average growth rate to the gap between log('*) and log[ y(0)], that is, the more rapid the convergence to the steady state. The model implies conditional convergencein that, for given x and 9*, the growth rate is higher the lower y(0). The converge ...
Convergence The Harvard community has made this article openly
... The higher A, the greater the responsiveness of the average growth rate to the gap between log('*) and log[ y(0)], that is, the more rapid the convergence to the steady state. The model implies conditional convergencein that, for given x and 9*, the growth rate is higher the lower y(0). The converge ...
... The higher A, the greater the responsiveness of the average growth rate to the gap between log('*) and log[ y(0)], that is, the more rapid the convergence to the steady state. The model implies conditional convergencein that, for given x and 9*, the growth rate is higher the lower y(0). The converge ...
Shipping Costs, Manufactured Exports, and
... Consider the costs of imports. The FOB (free on board) price measures the cost of an imported item at the point of shipment by the exporter, specifically as it is loaded on to a carrier for transport. The CIF (cost-insurance-freight) price measures the cost of the imported item at the point of entry ...
... Consider the costs of imports. The FOB (free on board) price measures the cost of an imported item at the point of shipment by the exporter, specifically as it is loaded on to a carrier for transport. The CIF (cost-insurance-freight) price measures the cost of the imported item at the point of entry ...
Does the United States Have a Productivity Slowdown or a
... reflects an increasingly positive contribution from finance and the elimination of a large negative contribution from construction. The slowdown is also not simply a matter of weights that have been shifting toward poorly measured industries with low TFP growth, such as services. Services have been ...
... reflects an increasingly positive contribution from finance and the elimination of a large negative contribution from construction. The slowdown is also not simply a matter of weights that have been shifting toward poorly measured industries with low TFP growth, such as services. Services have been ...
HWPS#2
... The neo-classical (marginal productivity) theory of distribution provides that factors of production are paid according to their marginal products; and each of those marginal products are positively-related to the level of the other input factors and technology. a. The real wage falls from the great ...
... The neo-classical (marginal productivity) theory of distribution provides that factors of production are paid according to their marginal products; and each of those marginal products are positively-related to the level of the other input factors and technology. a. The real wage falls from the great ...
In Search of Potential GDP
... devastating housing bust has significantly lowered the asset growth rate of the real estate sector and the overall capital growth rate. Due to the highly complex nature of the form of capital, the practical way to assess the impact of capital to potential output is to analyze output growth under dif ...
... devastating housing bust has significantly lowered the asset growth rate of the real estate sector and the overall capital growth rate. Due to the highly complex nature of the form of capital, the practical way to assess the impact of capital to potential output is to analyze output growth under dif ...
CHAPTER 10 INCOME AND SPENDING Chapter Outline Aggregate
... aggregate demand. These stabilizers are a part of the economic mechanism and therefore work without any case-by-case government intervention. For example, when output declines and unemployment increases, there may be an increase in the number of people who fall below the poverty line. If we had no w ...
... aggregate demand. These stabilizers are a part of the economic mechanism and therefore work without any case-by-case government intervention. For example, when output declines and unemployment increases, there may be an increase in the number of people who fall below the poverty line. If we had no w ...
Chapter 13: Economic Performance
... The largest sector in the macro economy is the consumer, or private, sector. Its basic unit, the household, is made up of all persons who occupy a house, apartment, or room that constitutes separate living quarters. A household includes related family members and all others—such as lodgers, foster c ...
... The largest sector in the macro economy is the consumer, or private, sector. Its basic unit, the household, is made up of all persons who occupy a house, apartment, or room that constitutes separate living quarters. A household includes related family members and all others—such as lodgers, foster c ...
Economics 302
... equilibrium level of income. The new equilibrium level of income is 74 higher than before, which is a much smaller change than the 200 unit increase caused by the IS curve shift. This smaller IS/LM equilibrium income shift compared to the IS shift is caused by having a LM curve that is positive slop ...
... equilibrium level of income. The new equilibrium level of income is 74 higher than before, which is a much smaller change than the 200 unit increase caused by the IS curve shift. This smaller IS/LM equilibrium income shift compared to the IS shift is caused by having a LM curve that is positive slop ...
The role of FDI on economic growth in Malaysia
... foreign firms which are mostly in the manufacturing sector and especially in the more capital intensive industries. If negative internal terms of trade exist, the return on capital exceeds its optimum level. Given the advantage of foreign investors to raise capital and to dominate the capital market ...
... foreign firms which are mostly in the manufacturing sector and especially in the more capital intensive industries. If negative internal terms of trade exist, the return on capital exceeds its optimum level. Given the advantage of foreign investors to raise capital and to dominate the capital market ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... and prices during 1962-80 in Taiwan reasonably well. However, its power to explain the experience in the 1980s seems much weaker. In 1981-89, if the income elasticity of money demand remained at 1.5, an 8.0 percent average growth rate of real GDP should have increased real money demand by 12 percent ...
... and prices during 1962-80 in Taiwan reasonably well. However, its power to explain the experience in the 1980s seems much weaker. In 1981-89, if the income elasticity of money demand remained at 1.5, an 8.0 percent average growth rate of real GDP should have increased real money demand by 12 percent ...
Foreign Direct Investment - Faculty Directory | Berkeley-Haas
... Motorola sets up a plant in China to manufacture cell phones Starbuck purchases an existing UK firm, “British Coffee,” to sell coffee, tea and desserts in the UK Volkswagen and two Chinese joint venture partners Shanghai Automotive Industry Corporation (SAIC) and First Automotive Works (FAW) open th ...
... Motorola sets up a plant in China to manufacture cell phones Starbuck purchases an existing UK firm, “British Coffee,” to sell coffee, tea and desserts in the UK Volkswagen and two Chinese joint venture partners Shanghai Automotive Industry Corporation (SAIC) and First Automotive Works (FAW) open th ...
Chapter 12 Keynesian Business Cycle Theory: The Sticky Price Model
... 39) Changes in the money supply in the Keynesian sticky wage model is not a likely explanation of the typical business cycle because the model counterfactually predicts that A) consumption is procyclical and the price level is procyclical. B) the price level is procyclical and the real wage is count ...
... 39) Changes in the money supply in the Keynesian sticky wage model is not a likely explanation of the typical business cycle because the model counterfactually predicts that A) consumption is procyclical and the price level is procyclical. B) the price level is procyclical and the real wage is count ...
Shifts of the Short-Run Aggregate Supply Curve
... (inflation) leads to a rise in interest rates. Investment spending and consumer spending fall. The opposite is true also: lower interest rates will increase AD ...
... (inflation) leads to a rise in interest rates. Investment spending and consumer spending fall. The opposite is true also: lower interest rates will increase AD ...
Empirical Evidence on Growth: A Closer Look on Cross
... accelerations are common (see also Hausmann et al. 2005). ...
... accelerations are common (see also Hausmann et al. 2005). ...
2.4-Fiscal-Policy - The Economics Classroom
... economy, reducing an economy’s ability to self-correct from the recession, and potentially reducing the economy’s long-run economic growth rate. Expansionary fiscal policy’s effect on the interest rate: Fiscal stimulus requires that a government increases its deficit. This means the government must ...
... economy, reducing an economy’s ability to self-correct from the recession, and potentially reducing the economy’s long-run economic growth rate. Expansionary fiscal policy’s effect on the interest rate: Fiscal stimulus requires that a government increases its deficit. This means the government must ...
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.