Current Account Norms in Natural Resource Rich and Capital
... investment adjustment costs. Hulten (1996) and Pritchett (2000) argue, for instance, that often high productivity of infrastructure can coexist with very low returns on public investment in developing countries, because of ine¢ ciencies in investing. As a result, public investment spending does not ...
... investment adjustment costs. Hulten (1996) and Pritchett (2000) argue, for instance, that often high productivity of infrastructure can coexist with very low returns on public investment in developing countries, because of ine¢ ciencies in investing. As a result, public investment spending does not ...
Economic growth and the environment
... used sustainably and efficiently in order to secure growth in the long run. This is most obvious in the context of non-renewable resources such as oil and minerals, but the rate of consumption of renewable resources such as forests and fisheries and of ecosystem services such as biodiversity and car ...
... used sustainably and efficiently in order to secure growth in the long run. This is most obvious in the context of non-renewable resources such as oil and minerals, but the rate of consumption of renewable resources such as forests and fisheries and of ecosystem services such as biodiversity and car ...
The Natural Resource Curse and Fiscal Decentralization
... economy.2 This leads to a capital movement towards areas that are less productive because, as we show later, they bene…t less from agglomeration externalities (e.g., see Ciccone and Hall 1996) and public infrastructure.3 These two channels contribute to the potential drop in the nation’s total outpu ...
... economy.2 This leads to a capital movement towards areas that are less productive because, as we show later, they bene…t less from agglomeration externalities (e.g., see Ciccone and Hall 1996) and public infrastructure.3 These two channels contribute to the potential drop in the nation’s total outpu ...
The characteristics of a monetary economy: a Keynes
... a real-exchange economy and a monetary economy. He uses the first term to denote an economy in which money is just an instrument that makes it possible to reduce the costs of the exchange; the use of money does not change the structure of the economic system with respect to a barter economy. Like Ke ...
... a real-exchange economy and a monetary economy. He uses the first term to denote an economy in which money is just an instrument that makes it possible to reduce the costs of the exchange; the use of money does not change the structure of the economic system with respect to a barter economy. Like Ke ...
"Business Cycle Fluctuations and the Life Cycle: How Important is On-the-Job Skill Accumulation? with Selahattin Imrohoroglu
... All three economies are calibrated so that the steady state values for the age-speci…c wage parameters are identical. We …nd that introducing OJT gives steady state and business cycle properties that are essentially identical to the case without skill accumulation. LBD, on the other hand, a¤ects bot ...
... All three economies are calibrated so that the steady state values for the age-speci…c wage parameters are identical. We …nd that introducing OJT gives steady state and business cycle properties that are essentially identical to the case without skill accumulation. LBD, on the other hand, a¤ects bot ...
UNDERGROUND ECONOMY AND FISCAL POLICIES MODELING*
... Over the last decades a growing concern over the phenomenon of the underground economy has increased attention among officials, politicians, and economists. There are several important reasons why officials and the general public should be concerned in post-communist countries about the real size of ...
... Over the last decades a growing concern over the phenomenon of the underground economy has increased attention among officials, politicians, and economists. There are several important reasons why officials and the general public should be concerned in post-communist countries about the real size of ...
ESTIMATING INFORMAL ECONOMY SHARE IN RUSSIAN REGIONS
... the total economic activity. Thus, percentage point change of informal economy share is calculated as a difference between growth rate in electricity consumption and growth rate of officiallyrecorded GDP (Kaufman, Kaliberda (1996)). Such simple approach have certain biases which are discussed in Kau ...
... the total economic activity. Thus, percentage point change of informal economy share is calculated as a difference between growth rate in electricity consumption and growth rate of officiallyrecorded GDP (Kaufman, Kaliberda (1996)). Such simple approach have certain biases which are discussed in Kau ...
Mankiw 6e PowerPoints
... In this lecture, we will see several common transformations of key macroeconomic variables. ...
... In this lecture, we will see several common transformations of key macroeconomic variables. ...
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... integration and spatial dispersal, this trend is becoming even more pronounced. Today, the service- and knowledge-based economy is a major driver of urban growth. The role of cities is being redefined and reshaped as they become concentrated command points in the organization of the world economy, k ...
... integration and spatial dispersal, this trend is becoming even more pronounced. Today, the service- and knowledge-based economy is a major driver of urban growth. The role of cities is being redefined and reshaped as they become concentrated command points in the organization of the world economy, k ...
The contribution of aviation to the economy
... this is that it is incorrect to assume that all these people would become unemployed if activity in the aviation sector ceased. Budgets may well be spent elsewhere, leading to employment and contributions to GDP in other areas of the economy. 4 Employment figures should not, in any case, be related ...
... this is that it is incorrect to assume that all these people would become unemployed if activity in the aviation sector ceased. Budgets may well be spent elsewhere, leading to employment and contributions to GDP in other areas of the economy. 4 Employment figures should not, in any case, be related ...
NBER WORKING PAPER SERIES
... Notwithstanding its widespread use as a measure of fiscal policy, the government deficit is not a well—defined concept from the perspective of neoclassical macro economics. From the neoclassical perspective the deficit is an arbitrary accounting construct whose value depends on how the government ch ...
... Notwithstanding its widespread use as a measure of fiscal policy, the government deficit is not a well—defined concept from the perspective of neoclassical macro economics. From the neoclassical perspective the deficit is an arbitrary accounting construct whose value depends on how the government ch ...
Introduction to Macroeconomics
... • Keynes argued that spending induced business firms to supply goods & services. • Hence, if total spending fell, then firms would respond by cutting back production. Less spending would lead to less output. ...
... • Keynes argued that spending induced business firms to supply goods & services. • Hence, if total spending fell, then firms would respond by cutting back production. Less spending would lead to less output. ...
Principles of Economics, Case and Fair,9e
... society’s scarce resources are fully and efficiently employed. Economic growth expands society’s production possibilities, shifting the ppf up and to the right. ...
... society’s scarce resources are fully and efficiently employed. Economic growth expands society’s production possibilities, shifting the ppf up and to the right. ...
MARXIAN CRISIS THEORY AND THE POSTWAR U. S. ECONOMY
... 10-20% of a firm’s employees and then require the remaining employees to do the work of the laid-off employees. This method also generally increases the intensity of labor even before the workers are laid off, as all workers work harder so that they will not be among those who are laid off. We can s ...
... 10-20% of a firm’s employees and then require the remaining employees to do the work of the laid-off employees. This method also generally increases the intensity of labor even before the workers are laid off, as all workers work harder so that they will not be among those who are laid off. We can s ...
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... result in heterogeneity bias. Examples of country-specific frameworks on this topic are Belloumi (2010) for Tunisia; Akinboade and Braimoh (2010) for South Africa; Brida and Risso (2009) for Chile; Brida, Pereyra, Risso, Such, and Zapata (2009) for Colombia; Brida, Sanchez Carrrera, and Risso (2008) ...
... result in heterogeneity bias. Examples of country-specific frameworks on this topic are Belloumi (2010) for Tunisia; Akinboade and Braimoh (2010) for South Africa; Brida and Risso (2009) for Chile; Brida, Pereyra, Risso, Such, and Zapata (2009) for Colombia; Brida, Sanchez Carrrera, and Risso (2008) ...
Introduction to Macroeconomics
... • In the classical view the economists said that the supply creates demand and this happened when the factories produced goods and services they sell it in the market and they will gain income where this income will be used to purchase all other goods which means: ...
... • In the classical view the economists said that the supply creates demand and this happened when the factories produced goods and services they sell it in the market and they will gain income where this income will be used to purchase all other goods which means: ...
Can Government Really Stabilize the Economy?
... Economists live in a world of limited information, and so their analysis leads to different and sometimes even highly conflicting conclusions and recommendations. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
... Economists live in a world of limited information, and so their analysis leads to different and sometimes even highly conflicting conclusions and recommendations. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
Personal Saving Behavior and Real Economic Activity
... income. Saving, however, is much smaller than either income or spending; therefore any error in estimating either item will cause a much larger error in estimating saving. For example, in 1991 personal income was $4.8 trillion and personal saving was $0.2 trillion; thus a 1 percent error in estimati ...
... income. Saving, however, is much smaller than either income or spending; therefore any error in estimating either item will cause a much larger error in estimating saving. For example, in 1991 personal income was $4.8 trillion and personal saving was $0.2 trillion; thus a 1 percent error in estimati ...
Beyond GDP: The Need for New Measures of Progress
... referred to by leading economists, politicians, top-level decision-makers, and the media as though it represents overall progress. In fact, a report recently released by the World Bank says that nothing besides long-term high rates of GDP growth (specifically, a doubling of GDP each decade) can solv ...
... referred to by leading economists, politicians, top-level decision-makers, and the media as though it represents overall progress. In fact, a report recently released by the World Bank says that nothing besides long-term high rates of GDP growth (specifically, a doubling of GDP each decade) can solv ...
Household Production and the Household Economy
... sick, disabled and elderly people instead of professional care in hospitals and nursing homes. Taxation of paid labor helps drive these technology and policy changes. 4.2 Deficiencies in the National Statistics of Work and Production During the last half-century an almost unrecognized statistical re ...
... sick, disabled and elderly people instead of professional care in hospitals and nursing homes. Taxation of paid labor helps drive these technology and policy changes. 4.2 Deficiencies in the National Statistics of Work and Production During the last half-century an almost unrecognized statistical re ...
The natural capital metaphor and economic theory
... “social” capital. All of these have their own problems when it comes to their conceptualisation, but this paper focuses on the notion of “natural” capital. 4 Although the natural capital approach is based on a metaphor, many of its advocates feel they must provide a definition. Definitions need to e ...
... “social” capital. All of these have their own problems when it comes to their conceptualisation, but this paper focuses on the notion of “natural” capital. 4 Although the natural capital approach is based on a metaphor, many of its advocates feel they must provide a definition. Definitions need to e ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... some evidence of non-linearity between initial public debt-to-GDP ratio and the economies’ subsequent growth. They assert that after controlling for other economic growth determinants that a 10-percent increase from the initial debt-to-GDP ratio leads to a 0.2% decrease in per capital GDP growth. Th ...
... some evidence of non-linearity between initial public debt-to-GDP ratio and the economies’ subsequent growth. They assert that after controlling for other economic growth determinants that a 10-percent increase from the initial debt-to-GDP ratio leads to a 0.2% decrease in per capital GDP growth. Th ...