The unemployment rate is the number of people
... technological progress and shifts in the demand for goods and services. Structural changes eliminate some jobs in certain sectors of the economy and create new jobs in faster growing areas. Persons who are structurally unemployed do not have marketable job skills and may face prolonged periods of un ...
... technological progress and shifts in the demand for goods and services. Structural changes eliminate some jobs in certain sectors of the economy and create new jobs in faster growing areas. Persons who are structurally unemployed do not have marketable job skills and may face prolonged periods of un ...
ch9
... 9.3 THEORIES OF ECONOMIC GROWTH Discoveries and Profits The forces of competition squeeze profits, so to increase profit, people constantly seek either lower cost methods of production or new and better products for which people are willing to pay a higher price. Two other facts play a key role in ...
... 9.3 THEORIES OF ECONOMIC GROWTH Discoveries and Profits The forces of competition squeeze profits, so to increase profit, people constantly seek either lower cost methods of production or new and better products for which people are willing to pay a higher price. Two other facts play a key role in ...
NBER WORKING PAPER SERIES FISCAL POLICY AND INFLATION: PONDERING THE IMPONDERABLES
... Unlike private individuals, the government can print money, which generates inflation tax revenues (or seigniorage), and it can levy taxes, which generate direct tax revenues. Total government expenditures consist of purchases of goods and services (including compensation for government employees), ...
... Unlike private individuals, the government can print money, which generates inflation tax revenues (or seigniorage), and it can levy taxes, which generate direct tax revenues. Total government expenditures consist of purchases of goods and services (including compensation for government employees), ...
ECONOMIC AND SOCIAL SITUATION IN THE BALTIC STATES
... capital flows by the state had already been removed before Latvia's accession to the EU, and the fixed exchange rate of the national currency (1 EUR = 0.702804 LVL) had destroyed the last possibility of limiting capital inflows. In 1998, the Russian recession favoured the merger of several small Lat ...
... capital flows by the state had already been removed before Latvia's accession to the EU, and the fixed exchange rate of the national currency (1 EUR = 0.702804 LVL) had destroyed the last possibility of limiting capital inflows. In 1998, the Russian recession favoured the merger of several small Lat ...
Growth or Stagnation? The Role of Public Education
... preferencein utility discounting. Unlike ordinary investment decisions,however,the young must forecastthe policy choiceof the ensuinggeneration. In political-economic equilibrium, their forecastsare correct. Despitethe fact that population growth gives public education its strongest support in terms ...
... preferencein utility discounting. Unlike ordinary investment decisions,however,the young must forecastthe policy choiceof the ensuinggeneration. In political-economic equilibrium, their forecastsare correct. Despitethe fact that population growth gives public education its strongest support in terms ...
Islamic Financial Development and Economic Growth
... facilitated economic growth among the APEC countries from 1981 to 2000. Tang did this by specifically focusing on the effects of three aspects of financial development on economic growth: stock market, banking sector, and capital flow. Tang found that the level of stock market development would have ...
... facilitated economic growth among the APEC countries from 1981 to 2000. Tang did this by specifically focusing on the effects of three aspects of financial development on economic growth: stock market, banking sector, and capital flow. Tang found that the level of stock market development would have ...
Survey of Economics (8th Edition)
... This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove cont ...
... This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove cont ...
20.1 the federal budget and fiscal policy
... The balanced budget multiplier is not zero—it is positive—because the government expenditure multiplier is larger than the tax multiplier. ...
... The balanced budget multiplier is not zero—it is positive—because the government expenditure multiplier is larger than the tax multiplier. ...
here`s a good reading for Question 3
... operate as they normally would. Yet if that is so it may seem unclear why the real wage should end up being equal to the marginal product of labor. All parts of the model interact, but what exactly brings the real wage and the marginal product to this position if the money wage cannot move? If the m ...
... operate as they normally would. Yet if that is so it may seem unclear why the real wage should end up being equal to the marginal product of labor. All parts of the model interact, but what exactly brings the real wage and the marginal product to this position if the money wage cannot move? If the m ...
A world without inflation
... rapid advances in automation technology lowered the demand for workers in low-skilled jobs, putting downward pressure on their wage rates. This has contributed to lowering labour’s share of income in many developed countries (with the notable exception of France) over the past 25 years11. An increas ...
... rapid advances in automation technology lowered the demand for workers in low-skilled jobs, putting downward pressure on their wage rates. This has contributed to lowering labour’s share of income in many developed countries (with the notable exception of France) over the past 25 years11. An increas ...
2017 economic and market outlook: Stabilization, not
... Not only do these structural forces provide a coherent explanation of pre-crisis growth trends and world interest rates, but they also can reconcile currently low growth rates with full employment in most developed markets. And, although a secular stagnation view hinges on global demand weakness and ...
... Not only do these structural forces provide a coherent explanation of pre-crisis growth trends and world interest rates, but they also can reconcile currently low growth rates with full employment in most developed markets. And, although a secular stagnation view hinges on global demand weakness and ...
Allied Social Science Associations meetings Boston, MA, January 3
... the same proportion – provided that the money supply is increased in the same proportion (whence the rate of interest will be unchanged” (Hicks 1974: 60) Transformed from the period of high inflation in the early 1970s into the period of the Great Depression of the early 1930s, the ‘wage-theorem’ wo ...
... the same proportion – provided that the money supply is increased in the same proportion (whence the rate of interest will be unchanged” (Hicks 1974: 60) Transformed from the period of high inflation in the early 1970s into the period of the Great Depression of the early 1930s, the ‘wage-theorem’ wo ...
Estimation of discount factor (beta) and coefficient of relative risk
... the present. No doubt, when we talk about discount factor it is as subjective as it can be. All households or producers in the same economy can have different basis for their different subjective discount factors. As a result, empirically speaking, there are numerous discount factors in an economy a ...
... the present. No doubt, when we talk about discount factor it is as subjective as it can be. All households or producers in the same economy can have different basis for their different subjective discount factors. As a result, empirically speaking, there are numerous discount factors in an economy a ...
Say`s Law and the Business Cycles
... Say’s Law (or the Law of Markets) and the business cycle have been heavily debated throughout economic history, but they seem of importance only to historians of economics today. This is because economists believe that, although no consensus about these topics has yet been reached, they fully unders ...
... Say’s Law (or the Law of Markets) and the business cycle have been heavily debated throughout economic history, but they seem of importance only to historians of economics today. This is because economists believe that, although no consensus about these topics has yet been reached, they fully unders ...
The Causes of Inflation and Deflation in Mainland China
... are subject to measurement errors and hence do not adequately reflect pressure on prices. In particular, statistical methods based on actual output are likely to underestimate potential output because they fail to take account of increases in excess labour supply and production capacity on the Mainl ...
... are subject to measurement errors and hence do not adequately reflect pressure on prices. In particular, statistical methods based on actual output are likely to underestimate potential output because they fail to take account of increases in excess labour supply and production capacity on the Mainl ...
Monetary and Fiscal Policy Effectiveness in China
... approach seems particularly well-suited to analysis of the Chinese economy dues to the aforementioned concerns with Chinese data quality, as well as the relative lack of long time series data available and the rapid structural changes that country has undergone. Contrary to much of the literature, w ...
... approach seems particularly well-suited to analysis of the Chinese economy dues to the aforementioned concerns with Chinese data quality, as well as the relative lack of long time series data available and the rapid structural changes that country has undergone. Contrary to much of the literature, w ...
The Democracy and Economic Growth Nexus: Empirical Evidence
... considering two main time periods. The first phase is running from 1960 to 1980 and a second phase from 1980 to 2010. During the first phase that is the period 1960-1980, state intervention has concerned indicative planning (quinquennium plans) and “state capitalism”. This control of the state over ...
... considering two main time periods. The first phase is running from 1960 to 1980 and a second phase from 1980 to 2010. During the first phase that is the period 1960-1980, state intervention has concerned indicative planning (quinquennium plans) and “state capitalism”. This control of the state over ...
Demand-Pull Inflation
... and employers gain at the expense of workers. Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unem ...
... and employers gain at the expense of workers. Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unem ...
Crises in Asia or Crisis of Globalisation? Heribert Dieter November 1998
... Since July 1997, we are witnesses of severe crises in East and Southeast Asia. There are at least two types of crises that we can distinguish from each other: first, the developing countries of the region have been subject to a sudden collapse in the confidence in their currencies and a subsequent d ...
... Since July 1997, we are witnesses of severe crises in East and Southeast Asia. There are at least two types of crises that we can distinguish from each other: first, the developing countries of the region have been subject to a sudden collapse in the confidence in their currencies and a subsequent d ...