Foundations of the Market-Price System
... scarcity/ the fundamental and unique problem of interest to economics, but it also establishes a conceptual framework for most of the remainder of the book (as illustrated in Figure 5 ) . Scarcity is analyzed primarily in terms of the wants-means connection (i.e., the ends-means connection) which co ...
... scarcity/ the fundamental and unique problem of interest to economics, but it also establishes a conceptual framework for most of the remainder of the book (as illustrated in Figure 5 ) . Scarcity is analyzed primarily in terms of the wants-means connection (i.e., the ends-means connection) which co ...
Essays on Unemployment and Real Exchange Rates Hans Lindblad
... affected by the cyclical unemployment rate, theory tells us that it is also explained by a set of structural factors, e.g. taxes, active labor market policies, the replacement ratio and demographic factors. As discussed above, omitting the foreign sector can bias the NAIRU estimates. It is straightf ...
... affected by the cyclical unemployment rate, theory tells us that it is also explained by a set of structural factors, e.g. taxes, active labor market policies, the replacement ratio and demographic factors. As discussed above, omitting the foreign sector can bias the NAIRU estimates. It is straightf ...
Accounting for Emerging Market Countries` International Reserves
... between 100 and 150 percent of its Reserve Adequacy Metric as being appropriate, but for the typical EME, that range translates into 10 percent of GDP. In this paper, therefore, we adopt a more pragmatic tack. Rather than try to assess whether Asian RIM countries are stockpiling excessive reserves a ...
... between 100 and 150 percent of its Reserve Adequacy Metric as being appropriate, but for the typical EME, that range translates into 10 percent of GDP. In this paper, therefore, we adopt a more pragmatic tack. Rather than try to assess whether Asian RIM countries are stockpiling excessive reserves a ...
The Swaps Market: A Case Study Detailing Market
... another (Marshall 5). These are the very two problems discussed earlier to which currency swaps provided the solution. The currency swap would operate in a manner such that two counterparties would be brought together by a central matchmaker, or swap dealer (often an investment house) thus eliminati ...
... another (Marshall 5). These are the very two problems discussed earlier to which currency swaps provided the solution. The currency swap would operate in a manner such that two counterparties would be brought together by a central matchmaker, or swap dealer (often an investment house) thus eliminati ...
Commodity Markets and Futures prices - Farmdoc
... deviations from randomness. T h e subject of information — how it flows from futures markets and the impact it has on current markets — has concerned many. Those who have recently contributed to this literature include: Hirshleifer (1975), Cox (1976), and Grossman (1977). T h e basic idea in these p ...
... deviations from randomness. T h e subject of information — how it flows from futures markets and the impact it has on current markets — has concerned many. Those who have recently contributed to this literature include: Hirshleifer (1975), Cox (1976), and Grossman (1977). T h e basic idea in these p ...
Lessons for the Young Economist
... Goods Are Valued Unit by Unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 Pulling It All Together: What Should Crusoe Do With Himself? . . . . . . . . . . . . 61 ...
... Goods Are Valued Unit by Unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 Pulling It All Together: What Should Crusoe Do With Himself? . . . . . . . . . . . . 61 ...
Operational Efficiency in Natural Monopolies
... The existence of natural monopoly was first questioned by Evans and Heckman (1982, hereafter, abbreviated as ‘E-H’), who developed an innovative model to test subadditivity in telecommunications. Diewert and Wales (1992) criticized the E-H model, as the cost functions did not meet a basic assumption ...
... The existence of natural monopoly was first questioned by Evans and Heckman (1982, hereafter, abbreviated as ‘E-H’), who developed an innovative model to test subadditivity in telecommunications. Diewert and Wales (1992) criticized the E-H model, as the cost functions did not meet a basic assumption ...
... current account deficits are reflected in the current net foreign liabilities, and these interrelationships are enforced during model simulation and projections. These stock-flow relationships imply important closure relationships. For example, consumers have a target for equilibrium debt (net forei ...
current politics and economics of europe
... journals which study Europe, we aim to publish articles that incorporate elements of both politics and economics. In many respects our approach is an interdisciplinary one, in that we aim to publish articles that will receive an audience in both the political science and economics subject areas – an ...
... journals which study Europe, we aim to publish articles that incorporate elements of both politics and economics. In many respects our approach is an interdisciplinary one, in that we aim to publish articles that will receive an audience in both the political science and economics subject areas – an ...
Three Essays on Imperfect Competition Adina Oana CLAICI Advisor: Ramon CAMINAL
... the strategic effect disappears, by using a model of monopolistic competition. The rst chapter of the thesis presents a formal model that explains some of the reasons that lie behind rms' decisions to produce lower pro le cheaper products called “secondary brands”. Examples of secondary brands are p ...
... the strategic effect disappears, by using a model of monopolistic competition. The rst chapter of the thesis presents a formal model that explains some of the reasons that lie behind rms' decisions to produce lower pro le cheaper products called “secondary brands”. Examples of secondary brands are p ...
International Trade in Durable Goods: Understanding Volatility
... evidence that a large fraction of international trade is in durable goods, we propose a two-country two-sector model, in which durable goods are traded across countries. Simulation results show that our model can match the trade sector data much better than the standard models. We first document two ...
... evidence that a large fraction of international trade is in durable goods, we propose a two-country two-sector model, in which durable goods are traded across countries. Simulation results show that our model can match the trade sector data much better than the standard models. We first document two ...
International Macroeconomics
... There is a third component of the Balance of Payments called the capital account. This component is quantitatively insignificant in the United States, so we will ignore it. It keeps record of international transfers of financial capital. The major types of entries in the capital account are debt for ...
... There is a third component of the Balance of Payments called the capital account. This component is quantitatively insignificant in the United States, so we will ignore it. It keeps record of international transfers of financial capital. The major types of entries in the capital account are debt for ...
Macroeconomic Implications Of Capital Inflows In India :
... in response to Total Capital Inflows in India using quarterly data for the period 1994-2007. The paper consist two sections, in first section we have analysed trend behaviour of macroeconomic variables included in the study. Time trend of all variables except NEERX, NEERT and CAB shows instability o ...
... in response to Total Capital Inflows in India using quarterly data for the period 1994-2007. The paper consist two sections, in first section we have analysed trend behaviour of macroeconomic variables included in the study. Time trend of all variables except NEERX, NEERT and CAB shows instability o ...
Purchasing power parity
Purchasing power parity (PPP) is a component of some economic theories and is a technique used to determine the relative value of different currencies.Theories that invoke purchasing power parity assume that in some circumstances (for example, as a long-run tendency) it would cost exactly the same number of, say, US dollars to buy euros and then to use the proceeds to buy a market basket of goods as it would cost to use those dollars directly in purchasing the market basket of goods.The concept of purchasing power parity allows one to estimate what the exchange rate between two currencies would have to be in order for the exchange to be at par with the purchasing power of the two countries' currencies. Using that PPP rate for hypothetical currency conversions, a given amount of one currency thus has the same purchasing power whether used directly to purchase a market basket of goods or used to convert at the PPP rate to the other currency and then purchase the market basket using that currency. Observed deviations of the exchange rate from purchasing power parity are measured by deviations of the real exchange rate from its PPP value of 1.PPP exchange rates help to minimize misleading international comparisons that can arise with the use of market exchange rates. For example, suppose that two countries produce the same physical amounts of goods as each other in each of two different years. Since market exchange rates fluctuate substantially, when the GDP of one country measured in its own currency is converted to the other country's currency using market exchange rates, one country might be inferred to have higher real GDP than the other country in one year but lower in the other; both of these inferences would fail to reflect the reality of their relative levels of production. But if one country's GDP is converted into the other country's currency using PPP exchange rates instead of observed market exchange rates, the false inference will not occur.