NBER WORKING PAPER SERIES STABILIZATION POLICIES IN THE WORLD ECONOMY: Jeffrey Sachs
... Harvard University and NBER. This work is part of a project with Michael Bruno, of Hebrew University, on the macroeconomics of supply shocks. Errors in this analysis are, of course, my own. Support from the National Science Foundation is gratefully acknowledged. The research reported here is part of ...
... Harvard University and NBER. This work is part of a project with Michael Bruno, of Hebrew University, on the macroeconomics of supply shocks. Errors in this analysis are, of course, my own. Support from the National Science Foundation is gratefully acknowledged. The research reported here is part of ...
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... is thus an empirical question as to which of these forces dominates. A debate has raged on, but by and large the consensus estimate seems to be that upwards of 80% of the observed widening of wage inequalities in the US, for example, is accounted for not by trade but by technology.IS For Africa, the ...
... is thus an empirical question as to which of these forces dominates. A debate has raged on, but by and large the consensus estimate seems to be that upwards of 80% of the observed widening of wage inequalities in the US, for example, is accounted for not by trade but by technology.IS For Africa, the ...
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... A. The macroeconomic environment In the 1950s, 1960s and mid 1970s, the Ugandan economy achieved rapid agricultural development and economic growth. The Gross Domestic Product (GDP) and export earnings increased at a real annual rate of 4.3% and 3.2% between 1950 and 1975 respectively1. However, sin ...
... A. The macroeconomic environment In the 1950s, 1960s and mid 1970s, the Ugandan economy achieved rapid agricultural development and economic growth. The Gross Domestic Product (GDP) and export earnings increased at a real annual rate of 4.3% and 3.2% between 1950 and 1975 respectively1. However, sin ...
Part 2
... • Firms do not hire workers because they aim at accumulating workerts. The labour forces is a tool to produce commodities and obtain a profit by selling the commodities produced. • For that reason, it is said that the demand for labour by firms is a derived demand: it arises as an intermediate step ...
... • Firms do not hire workers because they aim at accumulating workerts. The labour forces is a tool to produce commodities and obtain a profit by selling the commodities produced. • For that reason, it is said that the demand for labour by firms is a derived demand: it arises as an intermediate step ...
Unemployment
... • Firms reduce employment while households send more workers to the labor market. • Unemployment rises above U*. • Output falls to Y3 at the price level P3. ...
... • Firms reduce employment while households send more workers to the labor market. • Unemployment rises above U*. • Output falls to Y3 at the price level P3. ...
The Third Great Wave
... worked in agriculture, and just over 40% of the typical household budget was spent on food. Over the next century automation reduced agricultural employment in most rich countries to below 5%, and food costs dropped steeply. But in those days excess labour was relatively easily reallocated to new se ...
... worked in agriculture, and just over 40% of the typical household budget was spent on food. Over the next century automation reduced agricultural employment in most rich countries to below 5%, and food costs dropped steeply. But in those days excess labour was relatively easily reallocated to new se ...
Еconomic theory and the New-Keynesian school
... amount of labor does. For this assumption to be practical, it is necessary in the long-term elasticity of the offer of labor to be high, or intertemporal elasticity substitution in the supply of labor to be high and aggregate fluctuations in the short-term needs to have large transient component. P ...
... amount of labor does. For this assumption to be practical, it is necessary in the long-term elasticity of the offer of labor to be high, or intertemporal elasticity substitution in the supply of labor to be high and aggregate fluctuations in the short-term needs to have large transient component. P ...
Ch6
... A firm may prefer higher than equilibrium wages for the following 4 reasons: (1) Worker Health: Better paid workers eat a better diet and thus are more productive. Increase effective labor and labor productivity (2) Worker Quality: Higher wages attract a better pool of workers to apply for jobs. ...
... A firm may prefer higher than equilibrium wages for the following 4 reasons: (1) Worker Health: Better paid workers eat a better diet and thus are more productive. Increase effective labor and labor productivity (2) Worker Quality: Higher wages attract a better pool of workers to apply for jobs. ...
3. National Income: Where it Comes From and Where it Goes
... July ’06 to Dec ’08: house prices fell 27% Jan ’08 to Dec ’08: 2.3 million foreclosures Many banks, financial institutions holding mortgages or mortgage-backed securities driven to near bankruptcy ...
... July ’06 to Dec ’08: house prices fell 27% Jan ’08 to Dec ’08: 2.3 million foreclosures Many banks, financial institutions holding mortgages or mortgage-backed securities driven to near bankruptcy ...
Ned Phelps’ Contributions as Viewed from Today through My
... A true descendant of the “island” search model Workers are constantly thinking about alternatives If “training capital” is embedded in each worker, the firm has a big incentive to keep them from quitting, so pay them more than their “opportunity wage” ...
... A true descendant of the “island” search model Workers are constantly thinking about alternatives If “training capital” is embedded in each worker, the firm has a big incentive to keep them from quitting, so pay them more than their “opportunity wage” ...
Employment, unemployment, skills and economic growth
... increased • However, there was uneven distribution of progress within population groups. Within black African employment the growth in skills, as a proportion, was much lower than in the other population groups • Within the black African 25-34 age group, the skilled proportion of employment decrease ...
... increased • However, there was uneven distribution of progress within population groups. Within black African employment the growth in skills, as a proportion, was much lower than in the other population groups • Within the black African 25-34 age group, the skilled proportion of employment decrease ...
First Midterm Tuesday/Thursday Lecture
... equilibrium real interest rate, consumption, and investment relative to the situation before the defense cut. Assume that households save more when real interest rates increase, and vice versa. Which policy will result in a higher rate of long-term growth of the US economy? (Note: while graphs may b ...
... equilibrium real interest rate, consumption, and investment relative to the situation before the defense cut. Assume that households save more when real interest rates increase, and vice versa. Which policy will result in a higher rate of long-term growth of the US economy? (Note: while graphs may b ...
Everything you need to know about isocosts and isoquants
... Proof of the Stolper-Samuelson theorem (continued) In the first case, the fraction has risen. This could occur only if R’ < R, that is , if rents have fallen. On the other hand, a comparison of horizontal intercepts shows that W has risen. These changes in W and R are nominal changes. What has happ ...
... Proof of the Stolper-Samuelson theorem (continued) In the first case, the fraction has risen. This could occur only if R’ < R, that is , if rents have fallen. On the other hand, a comparison of horizontal intercepts shows that W has risen. These changes in W and R are nominal changes. What has happ ...
The Third Industrial Revolution: Technology, Productivity
... First, as the error bands show, the range of estimates is quite wide because the data set permits studying only a small number of firms for a short period of time.22 Second, a firm uses more than computers to produce output. If computers account for 5 percent of output, then this translates into an ...
... First, as the error bands show, the range of estimates is quite wide because the data set permits studying only a small number of firms for a short period of time.22 Second, a firm uses more than computers to produce output. If computers account for 5 percent of output, then this translates into an ...
Third Working Meeting of the Technical Advisory Group (TAG)
... Inclusive Growth can be defined as economic growth with equality of opportunity Good inequality and bad inequality Good inequality – arise on account of individual effort and are justified for incentives and growth Bad inequality – arise from differences in circumstances beyond the control o ...
... Inclusive Growth can be defined as economic growth with equality of opportunity Good inequality and bad inequality Good inequality – arise on account of individual effort and are justified for incentives and growth Bad inequality – arise from differences in circumstances beyond the control o ...
Practice for Master Class 3 Chapter 5
... 1) In an economic model, an exogenous variable is A) determined outside the model. B) a variable that has no effect on the workings of the model. C) determined by the model itself. D) a stand-in for more complicated variables. 2) An economy that engages in international trade is called A) a modern e ...
... 1) In an economic model, an exogenous variable is A) determined outside the model. B) a variable that has no effect on the workings of the model. C) determined by the model itself. D) a stand-in for more complicated variables. 2) An economy that engages in international trade is called A) a modern e ...
GDP per capita Growth Halted
... Netherlands Australia Austria Italy Japan Ireland UK Sweden Israel Finland Spain Portugal Greece Czech Republic South Korea Hungary ...
... Netherlands Australia Austria Italy Japan Ireland UK Sweden Israel Finland Spain Portugal Greece Czech Republic South Korea Hungary ...
Real Business Cycles
... The Dow dropped 30% from its Jan 14, 2000 high of $11,722 The Nasdaq dropped 75% from its March 10, 2000 high of ...
... The Dow dropped 30% from its Jan 14, 2000 high of $11,722 The Nasdaq dropped 75% from its March 10, 2000 high of ...
Notes on Classical Economics
... Real Business Cycle (RBC) theory does very good in explaining the business cycle facts. There are a few contradictions that RBC theorists have to address: 1) Inflation is pro-cyclical according to the facts but countercyclical according to the theory. RBC theorists argue that the empirical results, ...
... Real Business Cycle (RBC) theory does very good in explaining the business cycle facts. There are a few contradictions that RBC theorists have to address: 1) Inflation is pro-cyclical according to the facts but countercyclical according to the theory. RBC theorists argue that the empirical results, ...
SELF SERVICE TECHNOLOGIES: A CAUSE OF UNEMPLOYMENT
... positive steps by registering in the job agencies, applying for jobs through placement of job adverts on newspaper or internet or seeking assistance from friends or relatives and yet they are unemployed. ...
... positive steps by registering in the job agencies, applying for jobs through placement of job adverts on newspaper or internet or seeking assistance from friends or relatives and yet they are unemployed. ...
Report 1 - Foothill College
... Well, let's take a closer look. The more upbeat household survey is compiled every month by a team of surveyors from the Bureau of Labor Statistics who visit a random sample of 60,000 homes around country, and ask: "are you working?" If the answer they get is "no," the next question is "are you look ...
... Well, let's take a closer look. The more upbeat household survey is compiled every month by a team of surveyors from the Bureau of Labor Statistics who visit a random sample of 60,000 homes around country, and ask: "are you working?" If the answer they get is "no," the next question is "are you look ...
Employment and Unemployment: How Can Both Rates Rise at the
... Most people read about changes in the unemployment rate with interest. They see it as an important indicator of how well the economy is functioning. Yet, it often is a source of confusion. Most people think that an adult is unemployed if he or she does not have a job. They also think that people rec ...
... Most people read about changes in the unemployment rate with interest. They see it as an important indicator of how well the economy is functioning. Yet, it often is a source of confusion. Most people think that an adult is unemployed if he or she does not have a job. They also think that people rec ...
The United States and Europe Short-Run Divergence and
... Germany, Japan and the United Kingdom. France and Italy have seen larger slowdowns in TFP growth, as shown in Figure 9b. Figure 9a ...
... Germany, Japan and the United Kingdom. France and Italy have seen larger slowdowns in TFP growth, as shown in Figure 9b. Figure 9a ...
Calculations based on data from Economic Modeling Specialists Inc.
... comparison states, with the lowest rate of decline in South Carolina and Indiana (each losing 12 percent). Manufacturing in 2012 had a lower share of total employment in all comparison states and the country compared to its 2007 share. Overall, industry mix can be measured through the Shannon-Weaver ...
... comparison states, with the lowest rate of decline in South Carolina and Indiana (each losing 12 percent). Manufacturing in 2012 had a lower share of total employment in all comparison states and the country compared to its 2007 share. Overall, industry mix can be measured through the Shannon-Weaver ...