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reply-to-harvey - Michael Roberts Blog
... But we must also recognise that the ‘trigger’ for a crisis can be different: it could start from a collapsing stock market (1929) or bursting housing boom (2007), or a sharp jump in commodity prices (oil in 1974). But this is the trigger where each ‘conjunctural’ event can be different.14 Capital st ...
... But we must also recognise that the ‘trigger’ for a crisis can be different: it could start from a collapsing stock market (1929) or bursting housing boom (2007), or a sharp jump in commodity prices (oil in 1974). But this is the trigger where each ‘conjunctural’ event can be different.14 Capital st ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Conference on Business Cycles
... Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, ...
... Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, ...
Economic growth 3
... of growth. Economist Bill Easterly’s book the elusive quest for growth gives a nice example on how this can be the case in the case of investment in human capital. Growth accounting Think about the returns from getting an MBA: they are clearly (positively) affected ...
... of growth. Economist Bill Easterly’s book the elusive quest for growth gives a nice example on how this can be the case in the case of investment in human capital. Growth accounting Think about the returns from getting an MBA: they are clearly (positively) affected ...
Document
... -8For each data set, we then constructed Solow residual measurements excluding the true capital stock, using instead estimates of an initial condition K0 (à la Gollop-Jorgenson, Griliches and Jorgenson (1980), Caselli (2005), BEA). These data thus resemble those available to researchers who do not ...
... -8For each data set, we then constructed Solow residual measurements excluding the true capital stock, using instead estimates of an initial condition K0 (à la Gollop-Jorgenson, Griliches and Jorgenson (1980), Caselli (2005), BEA). These data thus resemble those available to researchers who do not ...
Who is afraid of the brain drain? Human capital flight and growth in
... on brains" to be redistributed internationally. During the last two decades, there has been a tremendous increase in the magnitude of the brain drain. However, as I briefly explain in this note, it may well be that some developing countries, if not the majority of them, have benefited from this brai ...
... on brains" to be redistributed internationally. During the last two decades, there has been a tremendous increase in the magnitude of the brain drain. However, as I briefly explain in this note, it may well be that some developing countries, if not the majority of them, have benefited from this brai ...
Thomas Piketty Academic year 2013-2014
... • In many ways, β is easier to measure than α • In principle, capital income = all income flows going to capital owners (independanty of any labor input); labor income = all income flows going to labor earners (independantly of any capital input) • But in practice, the line is often hard to draw: fa ...
... • In many ways, β is easier to measure than α • In principle, capital income = all income flows going to capital owners (independanty of any labor input); labor income = all income flows going to labor earners (independantly of any capital input) • But in practice, the line is often hard to draw: fa ...
Diapositive 1
... 2. GDP per capita and productivity can fluctuate significantly in the medium run. These fluctuations are not necessarily synchronised across countries. 3. Some countries have been able to catch up with the living standards of the richest countries, while other countries have stagnated relative to ri ...
... 2. GDP per capita and productivity can fluctuate significantly in the medium run. These fluctuations are not necessarily synchronised across countries. 3. Some countries have been able to catch up with the living standards of the richest countries, while other countries have stagnated relative to ri ...
The Political Origins of Our Economic Discontents
... be forthcoming only if profits are high enough to provide a good return and investors are assured that aggregate demand will rise steadily over the long term. For these purposes, reforms that established regularized collective bargaining in this period were crucial. By giving the trade unions an ass ...
... be forthcoming only if profits are high enough to provide a good return and investors are assured that aggregate demand will rise steadily over the long term. For these purposes, reforms that established regularized collective bargaining in this period were crucial. By giving the trade unions an ass ...
Garrison Lect-1. 1 Capital Theory
... For pedagogical convenience, the initial capital structure is shown as having five stages. With growth, the number of stages will increase. Although all five of these stages are in operation during each time period, resources can be tracked through the structure of production over time. ...
... For pedagogical convenience, the initial capital structure is shown as having five stages. With growth, the number of stages will increase. Although all five of these stages are in operation during each time period, resources can be tracked through the structure of production over time. ...
economic development and growth
... their birth, caste or creed. Dignity of labour is maintained. The economic motive and strong desire to lead a better social life always inspire people to contribute to the process of development. The main objective of rapid economic development, particularly in the developed economies is to achieve ...
... their birth, caste or creed. Dignity of labour is maintained. The economic motive and strong desire to lead a better social life always inspire people to contribute to the process of development. The main objective of rapid economic development, particularly in the developed economies is to achieve ...
Aalborg Universitet The Growth Obsession Altvater, Elmar
... rates but also by the global interest rates on financial assets. Since under conditions of financial globalisation accumulation no longer necessarily takes place in the real economy, the relation between surplus value, profits, accumulation and real GDP-growth has become much looser. Under certain c ...
... rates but also by the global interest rates on financial assets. Since under conditions of financial globalisation accumulation no longer necessarily takes place in the real economy, the relation between surplus value, profits, accumulation and real GDP-growth has become much looser. Under certain c ...
Production and Growth - Webster Elementary School
... people to exercise control over their resources. For individuals to be willing to work, save and invest, and trade with others by contract, they must be confident that their production and capital will not be stolen and that their agreements will be enforced. Even a remote possibility of political i ...
... people to exercise control over their resources. For individuals to be willing to work, save and invest, and trade with others by contract, they must be confident that their production and capital will not be stolen and that their agreements will be enforced. Even a remote possibility of political i ...
Lecture Outline PPTs Macro Ch 6
... • Institutions of Economic Growth (cont.) 4. Dependable Legal System • A good legal system facilitates contracts and protects property from others including government. • Poorly protected property rights can result from too much government or too little government. The legal system in some governm ...
... • Institutions of Economic Growth (cont.) 4. Dependable Legal System • A good legal system facilitates contracts and protects property from others including government. • Poorly protected property rights can result from too much government or too little government. The legal system in some governm ...
Chapter7 power point
... • Institutions of Economic Growth (cont.) 4. Dependable Legal System • A good legal system facilitates contracts and protects property from others including government. • Poorly protected property rights can result from too much government or too little government. The legal system in some governm ...
... • Institutions of Economic Growth (cont.) 4. Dependable Legal System • A good legal system facilitates contracts and protects property from others including government. • Poorly protected property rights can result from too much government or too little government. The legal system in some governm ...
Distribution, Structural Change and Economic Performance in
... the extraction of natural rents, rather than those oriented to physical and human capital accumulation (Galor, Moav y Vollrath, 2004). The reversal of fortune is highlighted by Engerman & Sokolof (2000) and Acemoglu, Johnson & Robinson (2002). It is also possible to argue, that the impact of the str ...
... the extraction of natural rents, rather than those oriented to physical and human capital accumulation (Galor, Moav y Vollrath, 2004). The reversal of fortune is highlighted by Engerman & Sokolof (2000) and Acemoglu, Johnson & Robinson (2002). It is also possible to argue, that the impact of the str ...
8-2source - Rio Hondo Community College Faculty Websites
... The Classical growth model by Thomas Malthus (1798) focused on how diminishing marginal productivity would limit growth. Since the amount of farm land is fixed, diminishing marginal productivity would set in as population grew. The iron law of wages - as output per person declines, at some point ava ...
... The Classical growth model by Thomas Malthus (1798) focused on how diminishing marginal productivity would limit growth. Since the amount of farm land is fixed, diminishing marginal productivity would set in as population grew. The iron law of wages - as output per person declines, at some point ava ...
Economic Growth
... of economic growth. In the mid-1800s, for example, the United States financed the building of the transcontinental railroad in part by borrowing funds from investors in other countries. (See Figure 12.15.) The borrowing created a trade deficit, but it also helped create a much higher rate of economi ...
... of economic growth. In the mid-1800s, for example, the United States financed the building of the transcontinental railroad in part by borrowing funds from investors in other countries. (See Figure 12.15.) The borrowing created a trade deficit, but it also helped create a much higher rate of economi ...
Residential Investment and Economic Growth
... residential housing boom and recession in a developed economy. Would residential investment also be strongly linked to economic growth for other nations, especially the developing countries, and other episodes of economic history? Third, although it has long been known that housing construction is a ...
... residential housing boom and recession in a developed economy. Would residential investment also be strongly linked to economic growth for other nations, especially the developing countries, and other episodes of economic history? Third, although it has long been known that housing construction is a ...
Economic Consequences of War
... GDP (Wijeweera and Webb, 2009; 2010). These measures suffer from some limitations. For instance, dummy variables can be used in intervention analysis to assess the long-run effect of a war; however, the approach makes the strong assumption of no feedback amongst the variables in the system (in this ca ...
... GDP (Wijeweera and Webb, 2009; 2010). These measures suffer from some limitations. For instance, dummy variables can be used in intervention analysis to assess the long-run effect of a war; however, the approach makes the strong assumption of no feedback amongst the variables in the system (in this ca ...
Flaws in the Marxian Explanations of the Great Recession
... Instances of Misdiagnosis For example, radical proponents of the underconsumption theory of economic stagnation tend to attribute every crisis in the financial sector to a crisis of profitability in the real sector. Thus, John Bellamy Foster and Fred Magdoff, two of the leading advocates of this the ...
... Instances of Misdiagnosis For example, radical proponents of the underconsumption theory of economic stagnation tend to attribute every crisis in the financial sector to a crisis of profitability in the real sector. Thus, John Bellamy Foster and Fred Magdoff, two of the leading advocates of this the ...
human capital development: the case of education as a vehicle for
... population, the quality is also suspect. In many African schools, educational quality is so poor to the extent that after several years of education children leave school without acquiring skills or become literate on a sustainable basis. This is because many countries in Africa do not have cutting- ...
... population, the quality is also suspect. In many African schools, educational quality is so poor to the extent that after several years of education children leave school without acquiring skills or become literate on a sustainable basis. This is because many countries in Africa do not have cutting- ...
AP Macro - Sect. 7 PP no bkgd
... Capital, Technology & Growth Differences Economies experiencing rapid growth tend to be those that increase physical, human capital, and technological progress Government & Physical Capital Governments that invest in infrastructure provide the foundation for economic growth Government & Human Capita ...
... Capital, Technology & Growth Differences Economies experiencing rapid growth tend to be those that increase physical, human capital, and technological progress Government & Physical Capital Governments that invest in infrastructure provide the foundation for economic growth Government & Human Capita ...
Session 8.1-Robert Gilpin
... competition can be good for consumers: using the car industry as an example, he shows that global competition has led to reduced monopoly of the American car industry in the US, bringing lower prices and higher quality cars to US consumers. Gilpin states that hierarchy has existed throughout history ...
... competition can be good for consumers: using the car industry as an example, he shows that global competition has led to reduced monopoly of the American car industry in the US, bringing lower prices and higher quality cars to US consumers. Gilpin states that hierarchy has existed throughout history ...
Macroeconomics I, UPF Professor Antonio Ciccone SOLUTIONS
... In conclusion, if the Solow model describes adequately this economies, physical capital destruction should induce faster growth in Europe. In fact, if it is true that European growth is mostly due to capital accumulation, we should observe that a signi…cant part of it can be accounted for by capital ...
... In conclusion, if the Solow model describes adequately this economies, physical capital destruction should induce faster growth in Europe. In fact, if it is true that European growth is mostly due to capital accumulation, we should observe that a signi…cant part of it can be accounted for by capital ...
Infrastructure and Regional Development in Indonesia
... produce a development pattern that caters to the needs of each region. Each region has different geographical, social, economic and cultural conditions. Holistic regional development with a balanced spatial dimension will result in development policies that are suitable with such conditions and resu ...
... produce a development pattern that caters to the needs of each region. Each region has different geographical, social, economic and cultural conditions. Holistic regional development with a balanced spatial dimension will result in development policies that are suitable with such conditions and resu ...
Uneven and combined development
![](https://commons.wikimedia.org/wiki/Special:FilePath/Puerto_del_Huasco.jpg?width=300)
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.