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A Policymaker`s Guide to Dutch Disease
... No. The real exchange rate is a measure of relative prices. It is possible for the domestic price of nontradables to rise (measured in local currency) while the market exchange rate, and hence the price of tradables (measured in local currency), stays the same. This increase in the domestic price le ...
... No. The real exchange rate is a measure of relative prices. It is possible for the domestic price of nontradables to rise (measured in local currency) while the market exchange rate, and hence the price of tradables (measured in local currency), stays the same. This increase in the domestic price le ...
McGraw-Hill/Irwin
... role of capital accumulation in growth. According to the Classical theory, the more capital an economy has, the faster it will grow. New growth theory emphasizes the role of technology rather than capital in the growth process. Increases in technology can shift the production possibilities curve out ...
... role of capital accumulation in growth. According to the Classical theory, the more capital an economy has, the faster it will grow. New growth theory emphasizes the role of technology rather than capital in the growth process. Increases in technology can shift the production possibilities curve out ...
Long-Run and Short-Run Concerns: Growth, Productivity
... • The business cycle describes the periodic ups and downs in the economy, or deviations of output and employment away from the longrun trend. • A recession is roughly a period in which real GDP declines for at least two consecutive quarters. It is marked by falling output and rising ...
... • The business cycle describes the periodic ups and downs in the economy, or deviations of output and employment away from the longrun trend. • A recession is roughly a period in which real GDP declines for at least two consecutive quarters. It is marked by falling output and rising ...
1999 South-Western College Publishing
... This chapter discusses principles associated with The relationship between The Equilibrium Level of Aggregate Expenditure ...
... This chapter discusses principles associated with The relationship between The Equilibrium Level of Aggregate Expenditure ...
S028580_en.pdf
... region to attain a significant degree of improvement in their international competitiveness. The international technological gap has been reduced in highly specific and ‘localized’ areas of the economy but the income gap with more mature industrial societies has remained as high— or worse— than befo ...
... region to attain a significant degree of improvement in their international competitiveness. The international technological gap has been reduced in highly specific and ‘localized’ areas of the economy but the income gap with more mature industrial societies has remained as high— or worse— than befo ...
CEN TER - Coldwell Banker Imobiliare
... In this policy context, financing costs decreased significantly during 2015 and banks granted new loans amounting to approx. 53 bn RON, out of which 49 bn RON denominated in local currency. New bank loans to households amounted to approx. 26 bn RON, out of which 25 bn were RON- ...
... In this policy context, financing costs decreased significantly during 2015 and banks granted new loans amounting to approx. 53 bn RON, out of which 49 bn RON denominated in local currency. New bank loans to households amounted to approx. 26 bn RON, out of which 25 bn were RON- ...
March 06 Forecasting Report
... Building approvals for dwellings have risen by 23 per cent over the past year, and in trend terms are at their highest level ever (Chart 7). However, dwelling investment is only growing modestly, with investment in new housing rising by 2.7 per cent through the year and falling by 0.1 per cent in th ...
... Building approvals for dwellings have risen by 23 per cent over the past year, and in trend terms are at their highest level ever (Chart 7). However, dwelling investment is only growing modestly, with investment in new housing rising by 2.7 per cent through the year and falling by 0.1 per cent in th ...
Alert Mechanism Report 2015
... has been very low and is expected to remain below the ECB’s definition of price stability for a prolonged period. Very low inflation adds to the risks related to excessive indebtedness and increases the economic costs of rebalancing and deleveraging. This Report initiates the fourth annual round of ...
... has been very low and is expected to remain below the ECB’s definition of price stability for a prolonged period. Very low inflation adds to the risks related to excessive indebtedness and increases the economic costs of rebalancing and deleveraging. This Report initiates the fourth annual round of ...
Learning from Prices: Amplification and Business Fluctuations
... Worker-producers behave as if they had full information and their choices generate a price for the local good that reflects both local and aggregate exogenous conditions, as well as the aggregate price of capital, which is endogenous to the equilibrium actions of agents in the economy. Consumers, in ...
... Worker-producers behave as if they had full information and their choices generate a price for the local good that reflects both local and aggregate exogenous conditions, as well as the aggregate price of capital, which is endogenous to the equilibrium actions of agents in the economy. Consumers, in ...
Graph 4 - Doku.iab.
... industrial interdependencies are explicitly incorporated and used to explain economic interaction. The latter describes a complex and simultaneous solution which takes into consideration inter-industrial dependence as well as the distribution of income, the redistribution effects of the state and th ...
... industrial interdependencies are explicitly incorporated and used to explain economic interaction. The latter describes a complex and simultaneous solution which takes into consideration inter-industrial dependence as well as the distribution of income, the redistribution effects of the state and th ...
An Alternative Model for the Trade Balance of Countries with
... changes of abroad demand for their products not increasing its output, what would increase its costs of production, but reallocating stocks, what would be reflected in the national account as export and import in the same period. Castillo and Picazo (1995) propose an indicator to measure the “coinci ...
... changes of abroad demand for their products not increasing its output, what would increase its costs of production, but reallocating stocks, what would be reflected in the national account as export and import in the same period. Castillo and Picazo (1995) propose an indicator to measure the “coinci ...
Formal and informal economies
... Asian cities have increased fourfold in the same period. In 1950, there were just two cities in the world with a population of more than 8 million, London and New York. By 1990, there were six such cities in industrialized countries, a number not expected to change before the end of the century and ...
... Asian cities have increased fourfold in the same period. In 1950, there were just two cities in the world with a population of more than 8 million, London and New York. By 1990, there were six such cities in industrialized countries, a number not expected to change before the end of the century and ...
1 THE ISLANDS OF THE BAHAMAS ARRIVALS REPORT January
... meltdown of September 2008 the price of oil per barrel was at a high of $147.27 before it slipped to $125 during the same month. In July the price of oil averaged $133.37. After the financial meltdown of September 2008, the price of oil plummeted to below $70 in October and averaged $76.61 for the m ...
... meltdown of September 2008 the price of oil per barrel was at a high of $147.27 before it slipped to $125 during the same month. In July the price of oil averaged $133.37. After the financial meltdown of September 2008, the price of oil plummeted to below $70 in October and averaged $76.61 for the m ...
Chapter 1: Introduction
... will be "sticky": they will not move freely and instantaneously in response to changes in demand and supply. Instead, prices will remain fixed at predetermined levels as businesses expand or contract production in response to changes in demand and costs. As you will see, such "sticky prices" make a ...
... will be "sticky": they will not move freely and instantaneously in response to changes in demand and supply. Instead, prices will remain fixed at predetermined levels as businesses expand or contract production in response to changes in demand and costs. As you will see, such "sticky prices" make a ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... The 2013 Legatum Prosperity Index offers a unique insight into how prosperity is forming and changing across the world. The Prosperity Index is distinctive in that it is the only global measurement of prosperity based on both wealth and wellbeing. Traditionally, a nation‟s prosperity has been measur ...
... The 2013 Legatum Prosperity Index offers a unique insight into how prosperity is forming and changing across the world. The Prosperity Index is distinctive in that it is the only global measurement of prosperity based on both wealth and wellbeing. Traditionally, a nation‟s prosperity has been measur ...
my PP Presentation - Fuller Treacy Money
... Currently in latter stage of medium-term consolidation Strength of USD, which the Fed may resist, will be a likely restraint on its rate hikes ...
... Currently in latter stage of medium-term consolidation Strength of USD, which the Fed may resist, will be a likely restraint on its rate hikes ...
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.