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 ...
Gavin Graham - Mining Conference Presentation (2009 02)
... • The effects of the deep recession in North America and Europe are more than fully reflected in stock markets and the extensive stimulus delivered by Governments worldwide will eventually flow into financial markets. ...
... • The effects of the deep recession in North America and Europe are more than fully reflected in stock markets and the extensive stimulus delivered by Governments worldwide will eventually flow into financial markets. ...
Aggregate Demand
... The Monetarist View A monetarist is a macroeconomist who believes that the economy is self-regulating and that it will normally operate at full employment, provided that monetary policy is not erratic and that the pace of money growth is kept steady. The term “monetarist” was coined by an outstandin ...
... The Monetarist View A monetarist is a macroeconomist who believes that the economy is self-regulating and that it will normally operate at full employment, provided that monetary policy is not erratic and that the pace of money growth is kept steady. The term “monetarist” was coined by an outstandin ...
Economic Growth and Equity Investing
... a higher weight is reasonable not only because of its large market capitalization, but because it is the economy closest to steady state. Given the long period of time since the Second World War, it is reasonable to assume that all the countries in the first group will have converged to steady state ...
... a higher weight is reasonable not only because of its large market capitalization, but because it is the economy closest to steady state. Given the long period of time since the Second World War, it is reasonable to assume that all the countries in the first group will have converged to steady state ...
The characteristics of a monetary economy: a Keynes
... (2) the full employment of productive resources; and (3) private ownership of the factors of production. Schumpeter argues that, if innovations were realised by existing firms, credit would not be necessary, since, in order to realise the innovations, the entrepreneur would use the productive means ...
... (2) the full employment of productive resources; and (3) private ownership of the factors of production. Schumpeter argues that, if innovations were realised by existing firms, credit would not be necessary, since, in order to realise the innovations, the entrepreneur would use the productive means ...
human needs hierarchy and happiness
... ministers to the latter. The cultivation and improvement of the country, therefore, which affords subsistence, must, necessarily, be prior to the increase of the town, which furnishes only the means of conveniency and luxury" (1776, p. 377). This implies that not only the consumption of necessary g ...
... ministers to the latter. The cultivation and improvement of the country, therefore, which affords subsistence, must, necessarily, be prior to the increase of the town, which furnishes only the means of conveniency and luxury" (1776, p. 377). This implies that not only the consumption of necessary g ...
Chap23
... • In the long run, an economy’s production of goods and services depends on its supplies of labor, capital, and natural resources and on the available technology used to turn these factors of production into goods and services. • The price level does not affect these variables in the long run. • The ...
... • In the long run, an economy’s production of goods and services depends on its supplies of labor, capital, and natural resources and on the available technology used to turn these factors of production into goods and services. • The price level does not affect these variables in the long run. • The ...
Point_Made - University of California, Berkeley
... ► In simple cases, foreign outsourcing must raise US income levels: 1) International trade is voluntary; 2) International trade improves world productivity; 3) Higher foreign productivity does not reduce US productivity. ...
... ► In simple cases, foreign outsourcing must raise US income levels: 1) International trade is voluntary; 2) International trade improves world productivity; 3) Higher foreign productivity does not reduce US productivity. ...
Sources of Slow Growth in African Economies
... The measure of ethno-linguistic fractionalization is taken from related work by Mauro (1995) and Easterly and Levine (1997). The variable measures the probability (between 0 and 100) that two randomly-selected people from a country will not belong to the same ethnic or linguistic group. Tanzania has ...
... The measure of ethno-linguistic fractionalization is taken from related work by Mauro (1995) and Easterly and Levine (1997). The variable measures the probability (between 0 and 100) that two randomly-selected people from a country will not belong to the same ethnic or linguistic group. Tanzania has ...
NBER WORKING PAPER SERIES A THEORY OF DEMAND SHOCKS Guido Lorenzoni
... short-term volatility due to demand shocks. This is in line with existing evidence, based either on long-run restrictions or on sign restrictions on output and price responses. The crucial parameter that determines the relevance of demand shocks is the precision of the public signal. When the publi ...
... short-term volatility due to demand shocks. This is in line with existing evidence, based either on long-run restrictions or on sign restrictions on output and price responses. The crucial parameter that determines the relevance of demand shocks is the precision of the public signal. When the publi ...
OECD Economic Surveys SOUTH AFRICA March 2013
... slower than in most other emerging economies (Figure 1A). The fastest-growing countries tend to have low per capita income, but even taking into account starting levels South Africa’s growth has been relatively slow (Figure 1B). Above all, employment remains too low and unemployment excessively high ...
... slower than in most other emerging economies (Figure 1A). The fastest-growing countries tend to have low per capita income, but even taking into account starting levels South Africa’s growth has been relatively slow (Figure 1B). Above all, employment remains too low and unemployment excessively high ...
Chapter 14
... The Aggregate Demand Multiplier The aggregate demand multiplier is an effect that magnifies changes in expenditure plans and brings potentially large fluctuations in aggregate demand. When any influence on aggregate demand changes expenditure plans: • The change in expenditure changes income. • And ...
... The Aggregate Demand Multiplier The aggregate demand multiplier is an effect that magnifies changes in expenditure plans and brings potentially large fluctuations in aggregate demand. When any influence on aggregate demand changes expenditure plans: • The change in expenditure changes income. • And ...
Household Expectations and Household Consumption Expenditures: The Case of Turkey Evren CERİTOĞLU
... changes compared to other sub-items of household consumption expenditures such as on durable goods. The sensitivity of the growth of consumption to expected income changes could be even higher if a more general definition of consumption was used in the empirical analysis. Hence, Hall and Mishkin (19 ...
... changes compared to other sub-items of household consumption expenditures such as on durable goods. The sensitivity of the growth of consumption to expected income changes could be even higher if a more general definition of consumption was used in the empirical analysis. Hence, Hall and Mishkin (19 ...
Inflation Report 3/2000
... According to the quarterly national accounts, prices for traditional imported goods rose by 4.3% in the year to June 2000, primarily as a result of higher prices for refined petroleum products. Excluding petroleum products, prices rose by a little less than 2% in the same period. Internationally, pr ...
... According to the quarterly national accounts, prices for traditional imported goods rose by 4.3% in the year to June 2000, primarily as a result of higher prices for refined petroleum products. Excluding petroleum products, prices rose by a little less than 2% in the same period. Internationally, pr ...
Lecture Template - Vladivostok State University of
... How do we measure Competitiveness? Are there any differences between firm Competitiveness and national Competitiveness? What determines Competitiveness of nations today? And what will determine it in the future? ...
... How do we measure Competitiveness? Are there any differences between firm Competitiveness and national Competitiveness? What determines Competitiveness of nations today? And what will determine it in the future? ...
Answers to Key Questions
... units that they cannot be sold to individuals) and the exclusion principle does not apply to them (once the goods are produced nobody—including free riders—can be excluded from the goods’ benefits). The free-rider problem explains the significance of the exclusion principle. The exclusion principle ...
... units that they cannot be sold to individuals) and the exclusion principle does not apply to them (once the goods are produced nobody—including free riders—can be excluded from the goods’ benefits). The free-rider problem explains the significance of the exclusion principle. The exclusion principle ...
18.3 aggregate demand
... If aggregate demand grows at a faster rate than aggregate supply, the economy experiences inflation. Only a growing quantity of money can bring persistent increases in aggregate demand. When the quantity of money grows at a faster rate than aggregate supply, there is inflation and trend inflation eq ...
... If aggregate demand grows at a faster rate than aggregate supply, the economy experiences inflation. Only a growing quantity of money can bring persistent increases in aggregate demand. When the quantity of money grows at a faster rate than aggregate supply, there is inflation and trend inflation eq ...
Bade_Parkin_Macro_Lecture_CH14
... The Aggregate Demand Multiplier The aggregate demand multiplier is an effect that magnifies changes in expenditure plans and brings potentially large fluctuations in aggregate demand. When any influence on aggregate demand changes expenditure plans: • The change in expenditure changes income. • And ...
... The Aggregate Demand Multiplier The aggregate demand multiplier is an effect that magnifies changes in expenditure plans and brings potentially large fluctuations in aggregate demand. When any influence on aggregate demand changes expenditure plans: • The change in expenditure changes income. • And ...
Mark scheme
... Edexcel is one of the leading examining and awarding bodies in the UK and throughout the world. We provide a wide range of qualifications including academic, vocational, occupational and specific programmes for employers. Through a network of UK and overseas offices, Edexcel’s centres receive the s ...
... Edexcel is one of the leading examining and awarding bodies in the UK and throughout the world. We provide a wide range of qualifications including academic, vocational, occupational and specific programmes for employers. Through a network of UK and overseas offices, Edexcel’s centres receive the s ...
PDF
... is present in both the agricultural and non-agricultural sectors. The authors argue that by increasing soil fertility, a typical flood increases agricultural output in the year after it strikes (though output falls in the year it occurs). The benefits from higher agricultural production spill over t ...
... is present in both the agricultural and non-agricultural sectors. The authors argue that by increasing soil fertility, a typical flood increases agricultural output in the year after it strikes (though output falls in the year it occurs). The benefits from higher agricultural production spill over t ...
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.