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Giancarlo Bertocco Money as an institution of capitalism. On the
... private consumer. But it is not the attitude of business, which is a case of M-C-M‟, i. e. of parting with money for commodity (or effort) in order to obtain more money. This is important for the following reason. The classical theory supposes that the readiness of the entrepreneur to start up a pro ...
... private consumer. But it is not the attitude of business, which is a case of M-C-M‟, i. e. of parting with money for commodity (or effort) in order to obtain more money. This is important for the following reason. The classical theory supposes that the readiness of the entrepreneur to start up a pro ...
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... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
economic growth in paraguay - Global Development Network
... Paraguay lags significantly behind most of its neighbors. The current conditions of Paraguay, which are the likely outcome of a long history of unsustainable macroeconomic imbalances, policy reversals, bad policies and political repression and turmoil, can be ascertained by looking at the current st ...
... Paraguay lags significantly behind most of its neighbors. The current conditions of Paraguay, which are the likely outcome of a long history of unsustainable macroeconomic imbalances, policy reversals, bad policies and political repression and turmoil, can be ascertained by looking at the current st ...
Variety, Competition, and Population in Economic
... suppose, as in Jones [33], that there are diminishing technological opportunities in the sector -the R&D sector- that produces new ideas for new varieties of differentiated intermediates. Having diminishing technological opportunities means that an individual researcher becomes ...
... suppose, as in Jones [33], that there are diminishing technological opportunities in the sector -the R&D sector- that produces new ideas for new varieties of differentiated intermediates. Having diminishing technological opportunities means that an individual researcher becomes ...
From the Great Recession to the New Normal
... 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 ...
Size, Trend, and Policy Implications of the Underground Economy Renzo Orsi
... of the official output, thus providing evidence of a double business cycle in the Italian economy. The estimated model is then used to assess the implications of alternative fiscal policies. We find that at the actual tax rates, Italy is on the slippery side of the steady-state Laffer curve, and can ...
... of the official output, thus providing evidence of a double business cycle in the Italian economy. The estimated model is then used to assess the implications of alternative fiscal policies. We find that at the actual tax rates, Italy is on the slippery side of the steady-state Laffer curve, and can ...
Research Department Working Paper No:05/07
... extend the pegged exchange rate assumption and the specification of the behavioural equations of the model. For example in Lipschitz (1984) the equations for the balance of payments adjustment are extended by an explicit exports and imports functions and the resulted model is applied to the Korean e ...
... extend the pegged exchange rate assumption and the specification of the behavioural equations of the model. For example in Lipschitz (1984) the equations for the balance of payments adjustment are extended by an explicit exports and imports functions and the resulted model is applied to the Korean e ...
1 Shadow Economy and the Related Issues of Tax Evasion: ... Analysis among Canadian Workers
... may cause the government severe difficulties, because it provides unreliable official indicators. The very direction of intended policy measures may therefore be questionable. A third reason for concern is that the rise of the underground economy can be seen as a reaction by individuals who feel ove ...
... may cause the government severe difficulties, because it provides unreliable official indicators. The very direction of intended policy measures may therefore be questionable. A third reason for concern is that the rise of the underground economy can be seen as a reaction by individuals who feel ove ...
The Demise of US Economic Growth
... firestorm of controversy with commentary, blogs, and op-eds around the world. That paper was explicitly about the U.S. and recognized that there is plenty of room for “catch-up growth” in the emerging markets of the world. The growth concept is “potential” real GDP per capita from 2007, not actual r ...
... firestorm of controversy with commentary, blogs, and op-eds around the world. That paper was explicitly about the U.S. and recognized that there is plenty of room for “catch-up growth” in the emerging markets of the world. The growth concept is “potential” real GDP per capita from 2007, not actual r ...
Mr. Robert Barro, professor of Economy at Harvard University
... conditional convergence in the sense that the growth rate of per capita GDP is inversely related to the starting level of per capita GDP, holding fixed measures of government policies and institutions and the character of the national population. For given values of these variables, growth is positi ...
... conditional convergence in the sense that the growth rate of per capita GDP is inversely related to the starting level of per capita GDP, holding fixed measures of government policies and institutions and the character of the national population. For given values of these variables, growth is positi ...
Agricultural Productivity in Thailand
... the relationship into the explicit form. Being aware of location issue, they collected sample from Asia, Africa, and Americas to compare the results. From their study, they found that agricultural productivity improves the poverty situation in an overall region. Investment in R&D is very matter in ...
... the relationship into the explicit form. Being aware of location issue, they collected sample from Asia, Africa, and Americas to compare the results. From their study, they found that agricultural productivity improves the poverty situation in an overall region. Investment in R&D is very matter in ...
Chapter 28 Government and Stabilization
... employment equilibrium and the real GDP at the full employment equilibrium ...
... employment equilibrium and the real GDP at the full employment equilibrium ...
McKinnon`s Complementarity Hypothesis: Empirical Evidence for the
... In 1973, R. I. McKinnon and E. S. Shaw are argued that the repressed financial markets (low and administered interest rates, domestic credit controls, high reserve requirements and concessional credit practices) discourages savings, retards the efficient allocation resources, increases the segmentat ...
... In 1973, R. I. McKinnon and E. S. Shaw are argued that the repressed financial markets (low and administered interest rates, domestic credit controls, high reserve requirements and concessional credit practices) discourages savings, retards the efficient allocation resources, increases the segmentat ...
NBER WORKING PAPER SERIES SEPARATING THE BUSINESS CYCLE FROM OTHER ECONOMIC FLUCTUATIONS
... non-neoclassical economics is sometimes casual in stating its theories, the parts that I consider here are just as rigorous as anything neoclassical. In the early years of what Paul Samuelson called the “neoclassical synthesis,” the ∗economy was viewed as generating smooth trends, as described by So ...
... non-neoclassical economics is sometimes casual in stating its theories, the parts that I consider here are just as rigorous as anything neoclassical. In the early years of what Paul Samuelson called the “neoclassical synthesis,” the ∗economy was viewed as generating smooth trends, as described by So ...
If GT =0, Debt/GDP increases if the r > growth rate of GDP
... 9.3. The Phillips-curve is the SRAS-curve in percentage terms. Main lesson: A given level of expected inflation, fiscal and monetary policy may lower unemployment in the short run at the expense of a higher rate of inflation. Higher rate of inflation decreases real wages and thereby Increases employ ...
... 9.3. The Phillips-curve is the SRAS-curve in percentage terms. Main lesson: A given level of expected inflation, fiscal and monetary policy may lower unemployment in the short run at the expense of a higher rate of inflation. Higher rate of inflation decreases real wages and thereby Increases employ ...
by Brian Moyer, Marshall Reinsdorf and Robert Yuskavage
... of the cells of the use and make matrices are generally not available and hence final demand deflators or selected gross output deflators are used as proxy deflators throughout the input output tables. However, when an industry produces a commodity, its selling price will be less than the purchase p ...
... of the cells of the use and make matrices are generally not available and hence final demand deflators or selected gross output deflators are used as proxy deflators throughout the input output tables. However, when an industry produces a commodity, its selling price will be less than the purchase p ...
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... cooperatives (e.g. computer cooperative “firms” in the Czech Republic) to diversify into nonagricultural activities. The former strategy was most common in Central European and Balkan countries that were basically pre-industrial, e.g. Slovakia, Bulgaria, Romania and most of the CIS. However, the de ...
... cooperatives (e.g. computer cooperative “firms” in the Czech Republic) to diversify into nonagricultural activities. The former strategy was most common in Central European and Balkan countries that were basically pre-industrial, e.g. Slovakia, Bulgaria, Romania and most of the CIS. However, the de ...
Attachment 1 (PDF 259KB)
... that the definition of ICT workers and the ICT requirements of Australian businesses are likely to expand further over the coming decade. For example, mining that is currently done on-site may be done remotely in the future, which could mean that some traditional engineering roles will merge with IC ...
... that the definition of ICT workers and the ICT requirements of Australian businesses are likely to expand further over the coming decade. For example, mining that is currently done on-site may be done remotely in the future, which could mean that some traditional engineering roles will merge with IC ...
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.