New Structural Economics
... The global crisis that started in the U.S. financial sector in the fall of 2008 is the most serious one both in terms of magnitude and scope since the Great Depression. No country has been immune to the economic slowdown. World GDP contracted 2.2 percent in 2009, the first time after World War II (W ...
... The global crisis that started in the U.S. financial sector in the fall of 2008 is the most serious one both in terms of magnitude and scope since the Great Depression. No country has been immune to the economic slowdown. World GDP contracted 2.2 percent in 2009, the first time after World War II (W ...
UNIT 1 - GUNS and ROSES
... goods and services, firms’ production behavior, cost functions, income inequality, and protectionism, are topics discussed in _____ (fill in the blank). ...
... goods and services, firms’ production behavior, cost functions, income inequality, and protectionism, are topics discussed in _____ (fill in the blank). ...
Human capital and economic growth in OECD countries
... steady-state in the Solow model and the fact that economies seem to converge only slowly to it. Because of conditional convergence, i.e. all other things equal countries grow faster the further they are away from their steady-states, it is rather difficult to discriminate between long run and tempor ...
... steady-state in the Solow model and the fact that economies seem to converge only slowly to it. Because of conditional convergence, i.e. all other things equal countries grow faster the further they are away from their steady-states, it is rather difficult to discriminate between long run and tempor ...
Human Capital Investment And Economic Development In Nigeria
... understood in economies that wish to attain sustainable growth. Nigeria is rated by international standards as ‘less developed’ and thus has economic growth as a major goal. Indeed, the importance of a prime sector such as education has been stressed in Nigeria since the early sixties following the ...
... understood in economies that wish to attain sustainable growth. Nigeria is rated by international standards as ‘less developed’ and thus has economic growth as a major goal. Indeed, the importance of a prime sector such as education has been stressed in Nigeria since the early sixties following the ...
Macro measurements – Chapter 7
... showing the relation between output and inputs: Y = A F(L, K, H, N) F( ) – a function that shows how inputs are combined to produce output “A” – the level of technology ...
... showing the relation between output and inputs: Y = A F(L, K, H, N) F( ) – a function that shows how inputs are combined to produce output “A” – the level of technology ...
Investment
... increase in workforce or technology will make capital more productive and shift MPK curve out. ...
... increase in workforce or technology will make capital more productive and shift MPK curve out. ...
The Rise of China and the Demise of the Capitalist World
... historical system, has now reached the point of “structural crisis” or “terminal crisis.” The crisis can no longer be resolved within the system’s own framework. Instead, it will lead to “bifurcation,” and the system is to be replaced by one or several other systems (Wallerstein 1995; 1996; 1998; 20 ...
... historical system, has now reached the point of “structural crisis” or “terminal crisis.” The crisis can no longer be resolved within the system’s own framework. Instead, it will lead to “bifurcation,” and the system is to be replaced by one or several other systems (Wallerstein 1995; 1996; 1998; 20 ...
WP 1209 - Université de Namur
... the economic performance of democracy and dictatorship. Both articles conclude that because of the rent-seeking activity of the dictator, the democratic regime will always outperform the dictatorial one. Two recent studies reach similar conclusions even when considering benevolent autocrats (Shen 2 ...
... the economic performance of democracy and dictatorship. Both articles conclude that because of the rent-seeking activity of the dictator, the democratic regime will always outperform the dictatorial one. Two recent studies reach similar conclusions even when considering benevolent autocrats (Shen 2 ...
international competitivenss as a catalyst of productivity
... least in the short-run. This means that the components are not consumed during the aforementioned interactions. Therefore, it justifies treating some environmental components as catalysts of productivity, but not as additional factors of production. We propose the following five axioms which a given ...
... least in the short-run. This means that the components are not consumed during the aforementioned interactions. Therefore, it justifies treating some environmental components as catalysts of productivity, but not as additional factors of production. We propose the following five axioms which a given ...
Lessons from the Dutch Disease:
... This review is followed by a brief discussion of the disappointing economic growth record of the OPEC countries, and then by a brief discussion of the lessons that may be drawn from Norway’s singularly successful management of its oil wealth. ...
... This review is followed by a brief discussion of the disappointing economic growth record of the OPEC countries, and then by a brief discussion of the lessons that may be drawn from Norway’s singularly successful management of its oil wealth. ...
The Solow Model of Economic Growth
... Growth vs. Income • Poor (developing) countries (low capital/income ratio) are below their eventual steady state. Therefore, these countries should be growing rapidly • Wealthy (developed) countries (high capital/labor ratio) are at or above their eventual steady state. Therefore, these countries w ...
... Growth vs. Income • Poor (developing) countries (low capital/income ratio) are below their eventual steady state. Therefore, these countries should be growing rapidly • Wealthy (developed) countries (high capital/labor ratio) are at or above their eventual steady state. Therefore, these countries w ...
Long-Run Growth - Faculty Directory | Berkeley-Haas
... Constant Growth in Labor/Population 1. Strong negative correlation between real GDP per capita and fertility. Why? – Parents invest in children for purely economic reasons – Rising opportunity cost – quality of children matters, not quantity – Falling cost of birth control, falling infant mortal ...
... Constant Growth in Labor/Population 1. Strong negative correlation between real GDP per capita and fertility. Why? – Parents invest in children for purely economic reasons – Rising opportunity cost – quality of children matters, not quantity – Falling cost of birth control, falling infant mortal ...
HOW THE INVESTMENT IN R&D IS RELATED TO THE HUMAN
... Governments today are faced with a new economic environment. ICT has emerged as a key technology with the potential to transform economic and social activity and has led to more rapid growth in countries where the conditions for macroeconomic stability are in place (OECD, 2001). The economic growth ...
... Governments today are faced with a new economic environment. ICT has emerged as a key technology with the potential to transform economic and social activity and has led to more rapid growth in countries where the conditions for macroeconomic stability are in place (OECD, 2001). The economic growth ...
Mankiw 6e PowerPoints
... Example: If the annual growth rate of U.S. real GDP per capita had been just one-tenth of one percent higher during the 1990s, the U.S. would have generated an additional $496 billion of income during that decade. CHAPTER 7 ...
... Example: If the annual growth rate of U.S. real GDP per capita had been just one-tenth of one percent higher during the 1990s, the U.S. would have generated an additional $496 billion of income during that decade. CHAPTER 7 ...
The Globalization Rorschach Test
... assumed that globalization—however measured—has been increasing over time, and hence has had a causal impact on the changes in global inequality and growth he observed. Dollar and Kraay (2001b) and the related World Bank World Development Report (2003) based their work on growth and poverty on level ...
... assumed that globalization—however measured—has been increasing over time, and hence has had a causal impact on the changes in global inequality and growth he observed. Dollar and Kraay (2001b) and the related World Bank World Development Report (2003) based their work on growth and poverty on level ...
Prospects for reconciling the conflict between economic growth and
... production of crops, ores, logs, and livestock require the conversion of natural resources into human goods. The natural resources may be considered “natural capital,” stocks of which are drawn out of the economy of nature so that goods may flow into the human economy (England 2000). In the absence ...
... production of crops, ores, logs, and livestock require the conversion of natural resources into human goods. The natural resources may be considered “natural capital,” stocks of which are drawn out of the economy of nature so that goods may flow into the human economy (England 2000). In the absence ...
Macroeconomic theories of investment and development of a New
... 2.5 New-Keynesian financing constraints models Berndt (1992, p.p. 239-240) describes investment models concerned with the impact of the availability of funds on investment behavior as ‘cash flow’ models. These cash flow models, which have internal funds determining investment, are different to the a ...
... 2.5 New-Keynesian financing constraints models Berndt (1992, p.p. 239-240) describes investment models concerned with the impact of the availability of funds on investment behavior as ‘cash flow’ models. These cash flow models, which have internal funds determining investment, are different to the a ...
doc - RCEF2016
... Over the past two years (2014 – 2015) the Russian economy demonstrates a dramatic economic decline. The average annual rates of the GDP growth were equal to -1.05 %, much lower than in 2000 – 2008 (6.37 %) and in 2009 – 2013 (2.06 %).1 The rate of reduction of gross fixed capital formation was even ...
... Over the past two years (2014 – 2015) the Russian economy demonstrates a dramatic economic decline. The average annual rates of the GDP growth were equal to -1.05 %, much lower than in 2000 – 2008 (6.37 %) and in 2009 – 2013 (2.06 %).1 The rate of reduction of gross fixed capital formation was even ...
Document
... sectors that both exhibit constant returns. The Lucas model explains well the differences in income levels between countries. The economies, which at a starting point are capital scarce, achieve long-run equilibrium with low level of capital. The economies which are initially richer tend to steady ...
... sectors that both exhibit constant returns. The Lucas model explains well the differences in income levels between countries. The economies, which at a starting point are capital scarce, achieve long-run equilibrium with low level of capital. The economies which are initially richer tend to steady ...
Development of Human and Physical Capital and Change in the
... should start exporting more and more manufactured produce and less primary produce. Emeryl advocated this idea by linking economic growth, development and the composition of exports. In his empirical work Emery found that while total exports are positively related to economic growth, agricultural ex ...
... should start exporting more and more manufactured produce and less primary produce. Emeryl advocated this idea by linking economic growth, development and the composition of exports. In his empirical work Emery found that while total exports are positively related to economic growth, agricultural ex ...
The Classical Approach to Convergence Analysis
... countries of the year 2IOO be the same countries that are relatively rich today? Is the degree of income inequality across economies increasing or falling over time? The importance of these questions, which lie at the heart of the convergence debate, is obvious to anyone interested in general worldw ...
... countries of the year 2IOO be the same countries that are relatively rich today? Is the degree of income inequality across economies increasing or falling over time? The importance of these questions, which lie at the heart of the convergence debate, is obvious to anyone interested in general worldw ...
Economic Growth I - Princeton University Press
... functional forms and parameter values • BUT, with standard production function (Cobb-Douglas) Solow model predicts economy moves to steady state because of diminishing returns to capital (assuming no growth in technology A) ...
... functional forms and parameter values • BUT, with standard production function (Cobb-Douglas) Solow model predicts economy moves to steady state because of diminishing returns to capital (assuming no growth in technology A) ...
2. I E D
... 2. International Economic Developments The first quarter of 2014 was marked by an ongoing moderate growth of global economic activity, but the rate of growth slowed quarter-on-quarter. This slowdown was mainly attributed to the US economy that shrank sharply amid severe weather conditions and emergi ...
... 2. International Economic Developments The first quarter of 2014 was marked by an ongoing moderate growth of global economic activity, but the rate of growth slowed quarter-on-quarter. This slowdown was mainly attributed to the US economy that shrank sharply amid severe weather conditions and emergi ...
On the Persistence of Labour Market Insecurity and Slow Growth in
... which now has a larger share of employment in retail trade than in manufacturing. The central problem concerns institutional transformations in the economy which have led to the diffusion of a model of externalised employment relations, based on vertical disintegration, subcontracting, downsizing, d ...
... which now has a larger share of employment in retail trade than in manufacturing. The central problem concerns institutional transformations in the economy which have led to the diffusion of a model of externalised employment relations, based on vertical disintegration, subcontracting, downsizing, d ...
Textbook Solutions Ch.15
... and innovations. The new knowledge thus generated may be applied to civilian production after the war, and can lead to higher output per capita for a long period after the war. 7. What is meant by the globalisation of international trade? Discuss its advantages and disadvantages for the less develop ...
... and innovations. The new knowledge thus generated may be applied to civilian production after the war, and can lead to higher output per capita for a long period after the war. 7. What is meant by the globalisation of international trade? Discuss its advantages and disadvantages for the less develop ...
Uneven and combined development
Uneven and combined development (or unequal and combined development) is a Marxist concept to describe the overall dynamics of human history. It was originally used by the Russian revolutionary Leon Trotsky around the turn of the 20th century, when he was analyzing the developmental possibilities that existed for the economy and civilization in the Russian empire, and the likely future of the Tsarist regime in Russia. It was the basis of his political strategy of permanent revolution, which implied a rejection of the idea that a human society inevitably developed through a uni-linear sequence of necessary ""stages"". Trotsky's ideas matured under the influence of Georg Vollmar's study of a possibility of socialism in one country, as well as John Hobson, Rudolf Hilferding and Vladimir Lenin's studies of imperialism. Also before Trotsky, Nikolay Chernyshevsky and Vasily Vorontsov proposed a similar idea. The concept is still used today by Trotskyists and other Marxists concerned with world politics.