Wage-led Growth: Concept, Theories and Policies. w
... Preliminary remarks • The wage share has been falling in several countries over the last decades. • There has been a polarization of incomes, even within wage and salary income. • Average wages and average labour compensation have not kept up with productivity increases. • Growth processes seem to ...
... Preliminary remarks • The wage share has been falling in several countries over the last decades. • There has been a polarization of incomes, even within wage and salary income. • Average wages and average labour compensation have not kept up with productivity increases. • Growth processes seem to ...
E Economic and Social Council United Nations
... Taken together, the slowdown in China and weak global economic growth have had a particularly strong impact on commodity-dependent economies. Global commodity prices have declined to levels last seen at the time of the global financial and economic crisis of 2008, with the most dramatic reductions i ...
... Taken together, the slowdown in China and weak global economic growth have had a particularly strong impact on commodity-dependent economies. Global commodity prices have declined to levels last seen at the time of the global financial and economic crisis of 2008, with the most dramatic reductions i ...
An Analysis of the Export and Economic Growth in
... ABSTRACT This empirical research investigates the relationship of real export with economic growth (represented by real GDP) by using annual time series data for the Turkish economy over the period 1950-2006. The study applies a number of econometric techniques: ADF unit root test, Johansen cointegr ...
... ABSTRACT This empirical research investigates the relationship of real export with economic growth (represented by real GDP) by using annual time series data for the Turkish economy over the period 1950-2006. The study applies a number of econometric techniques: ADF unit root test, Johansen cointegr ...
The Interrelationship between Economic Development and
... technological progress and economic development is widely recognized. In The Theory of Economic Development he emphasizes the role of the entrepreneur as prime cause of economic development. He describes how the innovating entrepreneur challenges incumbent firms by introducing new inventions that ma ...
... technological progress and economic development is widely recognized. In The Theory of Economic Development he emphasizes the role of the entrepreneur as prime cause of economic development. He describes how the innovating entrepreneur challenges incumbent firms by introducing new inventions that ma ...
The unemployment rate is the number of people
... that can be purchased as a result of an hour’s labor. To employers, wages represent the cost of an input. An employer usually has additional costs of labor such as supplements, benefits and insurance plans. If companies were expanding the number of workers, the pool of available workers becomes smal ...
... that can be purchased as a result of an hour’s labor. To employers, wages represent the cost of an input. An employer usually has additional costs of labor such as supplements, benefits and insurance plans. If companies were expanding the number of workers, the pool of available workers becomes smal ...
An Introduction to Macroeconomic Models
... Export spending (X) is demand of foreign businesses and households, so to understand what affects export spending we must “get inside the heads” of those foreign companies and households. In general they respond to the same incentives as American households and businesses, so you simply look to the ...
... Export spending (X) is demand of foreign businesses and households, so to understand what affects export spending we must “get inside the heads” of those foreign companies and households. In general they respond to the same incentives as American households and businesses, so you simply look to the ...
The change of paradigm of Milton Friedman
... So Milton Friedman came on and explained his theory of the causes of inflation. The first step to understand Friedman’s theory, is to accept that inflation is always a monetary phenomenon. It’s always a result of too much money, of more rapid increase in the quantity of money than in an output. More ...
... So Milton Friedman came on and explained his theory of the causes of inflation. The first step to understand Friedman’s theory, is to accept that inflation is always a monetary phenomenon. It’s always a result of too much money, of more rapid increase in the quantity of money than in an output. More ...
View/Open
... 4.6 per cent in the Czech Republic in 2009) and the initial shock was larger than in Spain (-3.7 per cent in 2009) and Greece (-3.3 per cent), although it was less dramatic than the output decline in Slovenia (-7.8 per cent) and in Estonia (-14.3 per cent). However, the Slovak economy recovered as e ...
... 4.6 per cent in the Czech Republic in 2009) and the initial shock was larger than in Spain (-3.7 per cent in 2009) and Greece (-3.3 per cent), although it was less dramatic than the output decline in Slovenia (-7.8 per cent) and in Estonia (-14.3 per cent). However, the Slovak economy recovered as e ...
NBER WORKING PAPER SERIES THE LONG RUN IMPORTANCE OF SCHOOL QUALITY 9071
... and quality of college; moreover, the effects are larger when proper account is taken of the various determinants of achievement. Hanushek and Pace (1995) find that college completion is significantly related to higher test scores at the end of high school. Each of these investigations highlights th ...
... and quality of college; moreover, the effects are larger when proper account is taken of the various determinants of achievement. Hanushek and Pace (1995) find that college completion is significantly related to higher test scores at the end of high school. Each of these investigations highlights th ...
Effects of Discretionary Fiscal Policy in Tunisia
... Voices were raised calling again public authorities to resort to an active fiscal policy to help the central banks to avoid that the economic activity slows down. Once more, the role that has to play the fiscal policy in the management of the business cycle, been the object of an animated debate and ...
... Voices were raised calling again public authorities to resort to an active fiscal policy to help the central banks to avoid that the economic activity slows down. Once more, the role that has to play the fiscal policy in the management of the business cycle, been the object of an animated debate and ...
Economy: The Author`s Self-Evaluation
... socialism. And in Russia labor productivity was 33 percent lower in 1998 than in 1989 (Economic Commission for Europe 1999). Hungary has pursued the organic development of its private sector, coming closest to exhibiting the five features of the strategy described above.4 Still, Hungary's experience ...
... socialism. And in Russia labor productivity was 33 percent lower in 1998 than in 1989 (Economic Commission for Europe 1999). Hungary has pursued the organic development of its private sector, coming closest to exhibiting the five features of the strategy described above.4 Still, Hungary's experience ...
Impact of Trade Freedom, Property Rights, Fiscal Freedom, and
... remaining two statistically significant at the three percent level or beyond (NETXYjt and POLSTABjt). The R2 and adjusted R2 imply that the model explains nearly four-fifths of the variation in the dependent variable (log RPCYppp). Finally, the F-statistics is statistically significant at far beyond ...
... remaining two statistically significant at the three percent level or beyond (NETXYjt and POLSTABjt). The R2 and adjusted R2 imply that the model explains nearly four-fifths of the variation in the dependent variable (log RPCYppp). Finally, the F-statistics is statistically significant at far beyond ...
Monetary Policy
... 2. Ben Bernanke replaced Alan Greenspan in early 2006. Many are wondering whether or not Bernanke has Greenspan’s intuition. 3. Out of concern that the Fed’s success under Greenspan may not be reproducible, some argue for inflation targeting. This narrower policy objective, which has been successful ...
... 2. Ben Bernanke replaced Alan Greenspan in early 2006. Many are wondering whether or not Bernanke has Greenspan’s intuition. 3. Out of concern that the Fed’s success under Greenspan may not be reproducible, some argue for inflation targeting. This narrower policy objective, which has been successful ...
PROMOTING ECONOMIC EQUITY IN A 21st CENTURY ECONOMY
... of differential incomes in order to coordinate economic activities. Power and property rights, totally disconnected to issues of effort and productivity, greatly influence the distribution of incomes in modern capitalist economies (Clark 1996). This “market driven” level of inequality causes serious ...
... of differential incomes in order to coordinate economic activities. Power and property rights, totally disconnected to issues of effort and productivity, greatly influence the distribution of incomes in modern capitalist economies (Clark 1996). This “market driven” level of inequality causes serious ...
exchange rate
... In the long run, no relation between the Euro and the real interest rate Mainly valid for the financial sector, not so much product market ...
... In the long run, no relation between the Euro and the real interest rate Mainly valid for the financial sector, not so much product market ...
deflationary policies in eu countries – baltic and greek model
... In order to evaluate deflationary policy in Latvia, we first reasonably contradict arguments from economists who do not support this hypothesis. Development of main macroeconomic variables suggests that Krugman’s and Weisbrot’s arguments can be quite easily challenged using their own weapons. Taking ...
... In order to evaluate deflationary policy in Latvia, we first reasonably contradict arguments from economists who do not support this hypothesis. Development of main macroeconomic variables suggests that Krugman’s and Weisbrot’s arguments can be quite easily challenged using their own weapons. Taking ...
doc version - Brad DeLong`s Website
... estimate of the pace of long run economic growth. It publishes the time series of real (that is, inflation-adjusted) GDP--gross domestic product--in Historical Statistics of the United States.12 You can construct a picture of long-run economic growth by taking the time series for real GDP from Histo ...
... estimate of the pace of long run economic growth. It publishes the time series of real (that is, inflation-adjusted) GDP--gross domestic product--in Historical Statistics of the United States.12 You can construct a picture of long-run economic growth by taking the time series for real GDP from Histo ...
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... Over the summer China was able to return to nearly pre-crisis growth levels. GDP grew by an annualised 7.9 and 8.9 percent in the second and third quarter of last year, respectively. A comparison of the first three quarters with those of 2008 reveals an impressive growth rate of 7.7 percent. Therefo ...
... Over the summer China was able to return to nearly pre-crisis growth levels. GDP grew by an annualised 7.9 and 8.9 percent in the second and third quarter of last year, respectively. A comparison of the first three quarters with those of 2008 reveals an impressive growth rate of 7.7 percent. Therefo ...
The Short-Run Tradeoff between Inflation and Unemployment
... • By expanding aggregate demand, policymakers can choose a point on the Phillips curve with higher inflation and lower unemployment. • By contracting aggregate demand, policymakers can choose a point on the Phillips curve with lower inflation and higher unemployment. • The tradeoff between inflation ...
... • By expanding aggregate demand, policymakers can choose a point on the Phillips curve with higher inflation and lower unemployment. • By contracting aggregate demand, policymakers can choose a point on the Phillips curve with lower inflation and higher unemployment. • The tradeoff between inflation ...
Urban growth - Princeton University
... statistical areas in the USA as economic entities, but major urban agglomerations may involve a multitude of definitions. The study of urban growth has proceeded in a number of different strands. One strand has emphasized historical aspects of urbanization. Massive population movements from rural to ...
... statistical areas in the USA as economic entities, but major urban agglomerations may involve a multitude of definitions. The study of urban growth has proceeded in a number of different strands. One strand has emphasized historical aspects of urbanization. Massive population movements from rural to ...
Speculation-led growth and fragility in Turkey: Does EU make a
... advanced economies themselves are not immune to crisis. This paper attempts to show that the fact that Turkey did manage to live with its current account deficit until today, does not mean that it can do so in the future without facing a major crisis. The case of the Central and Eastern European cou ...
... advanced economies themselves are not immune to crisis. This paper attempts to show that the fact that Turkey did manage to live with its current account deficit until today, does not mean that it can do so in the future without facing a major crisis. The case of the Central and Eastern European cou ...