development strategies and poverty reduction
... to 2005/06, growth in the economy averaged 8.0 per cent in real times. The growth of nonmining over the same period, on the other hand, was 6.8 per cent. However, within the nonmining economy, it is obvious from Tables 1 and 2 that with the exception of agriculture, growth was spread fairly evenly ...
... to 2005/06, growth in the economy averaged 8.0 per cent in real times. The growth of nonmining over the same period, on the other hand, was 6.8 per cent. However, within the nonmining economy, it is obvious from Tables 1 and 2 that with the exception of agriculture, growth was spread fairly evenly ...
Introduction - Harvard Kennedy School
... (1) output falls short of its long-run trend, in a recession, or (2) the price of copper is below its medium-term (10-year) equilibrium. The key institutional innovation is that there are two panels of experts whose job it is each mid-year to make the judgments regarding the output gap and the mediu ...
... (1) output falls short of its long-run trend, in a recession, or (2) the price of copper is below its medium-term (10-year) equilibrium. The key institutional innovation is that there are two panels of experts whose job it is each mid-year to make the judgments regarding the output gap and the mediu ...
Fiscal Policy and Macroeconomic Stability: New Evidence and
... Fiscal policy can contribute to macroeconomic stability through three main channels. The first is the automatic reduction in government saving during downturns and increase during upturns, cushioning shocks to national expenditure (Blinder and Solow, 1974). Such automatic stabilization occurs becaus ...
... Fiscal policy can contribute to macroeconomic stability through three main channels. The first is the automatic reduction in government saving during downturns and increase during upturns, cushioning shocks to national expenditure (Blinder and Solow, 1974). Such automatic stabilization occurs becaus ...
economic growth and competitiveness of hungarian regions
... competitiveness and will also look more closely at one of the basic models of competitiveness. First, I will briefly discuss alternative interpretations of the notion of competitiveness. Then I will introduce the so-called pyramid-model which has been designed to measure and improve regional competi ...
... competitiveness and will also look more closely at one of the basic models of competitiveness. First, I will briefly discuss alternative interpretations of the notion of competitiveness. Then I will introduce the so-called pyramid-model which has been designed to measure and improve regional competi ...
What Do We Learn From Schumpeterian Growth Theory?
... different extent in countries or sectors at different stages of development. Moreover, the recent years have witnessed a new generation of Schumpeterian growth models focusing on firm dynamics and reallocation of resources among incumbents and new entrants.2 These models are easily estimable using m ...
... different extent in countries or sectors at different stages of development. Moreover, the recent years have witnessed a new generation of Schumpeterian growth models focusing on firm dynamics and reallocation of resources among incumbents and new entrants.2 These models are easily estimable using m ...
Lecture notes on the Cambridge equation and the neo
... capacity savings forthcoming from the larger installed capacity. So in the long run expected aggregate demand leads economic growth by determining an adjustment of output capacity. If, on the other hand, expected demand slows down, there will slowly be a downsizing of output capacity. Labour populat ...
... capacity savings forthcoming from the larger installed capacity. So in the long run expected aggregate demand leads economic growth by determining an adjustment of output capacity. If, on the other hand, expected demand slows down, there will slowly be a downsizing of output capacity. Labour populat ...
Inflation and Economic Growth in India – An Empirical Analysis
... Researchers belonging to the second camp base their arguments on the Real Business Cycle theories and assert that inflation negatively affects growth. One of the main studies investigating this negative relationship between inflation and growth has been carried out by Kydland and Prescott (1990). Th ...
... Researchers belonging to the second camp base their arguments on the Real Business Cycle theories and assert that inflation negatively affects growth. One of the main studies investigating this negative relationship between inflation and growth has been carried out by Kydland and Prescott (1990). Th ...
University of Economics, Prague
... Department of Business Economics Faculty of Business Administration The extent of the course: 32 hours Target: The purpose of this course is to provide an insight into the issues and problems, which are commonly encountered in formulating strategy. The latest theoretical and practical approaches are ...
... Department of Business Economics Faculty of Business Administration The extent of the course: 32 hours Target: The purpose of this course is to provide an insight into the issues and problems, which are commonly encountered in formulating strategy. The latest theoretical and practical approaches are ...
The Phillips Curve, Expectations, and Monetary Policy
... In the short run, it turns out that whenever real GDP Y is higher than potential output Y*, the inflation rate π and the price level P are likely to be higher than people had previously anticipated. There are many reasons for this. One is that whenever demand for products is stronger than anticipate ...
... In the short run, it turns out that whenever real GDP Y is higher than potential output Y*, the inflation rate π and the price level P are likely to be higher than people had previously anticipated. There are many reasons for this. One is that whenever demand for products is stronger than anticipate ...
Chapter 10
... effect. 2. When autonomous expenditure increases, inventories make an unplanned decrease, so firms increase production and real GDP increases to a new equilibrium. D. Why Is the Multiplier Greater than 1? The multiplier is greater than 1 because an increase in autonomous expenditure induces further ...
... effect. 2. When autonomous expenditure increases, inventories make an unplanned decrease, so firms increase production and real GDP increases to a new equilibrium. D. Why Is the Multiplier Greater than 1? The multiplier is greater than 1 because an increase in autonomous expenditure induces further ...
NBER WORKING PAPER SERIES PERCEPTIONS AND MISPERCEPTIONS OF FISCAL INFLATION
... model stems from the assumption that bonds are real, or perfectly indexed to the price level. Higher real debt requires the government to raise more real resources—like seigniorage—to fully back the debt. But in practice only a small fraction of government debt issued by advanced economies is indexe ...
... model stems from the assumption that bonds are real, or perfectly indexed to the price level. Higher real debt requires the government to raise more real resources—like seigniorage—to fully back the debt. But in practice only a small fraction of government debt issued by advanced economies is indexe ...
2009-II CENTRAL BANK OF THE REPUBLIC OF TURKEY
... baseline, (ii) early recovery, and (iii) late recovery. In this Report, the “early recovery” scenario (with recovery starting in the third quarter) was dropped because global economic growth forecasts were continuously revised downward over last three months. ...
... baseline, (ii) early recovery, and (iii) late recovery. In this Report, the “early recovery” scenario (with recovery starting in the third quarter) was dropped because global economic growth forecasts were continuously revised downward over last three months. ...
Productivity is acyclical: Evidence from over a century of labor
... The period in United States history with the largest decline in the Solow residual is the Great Depression. Early attempts to provide a real theory of the Depression did not consider productivity, such as Lucas and Rapping (1972). For many RBC theorists, the Depression was of a different nature tha ...
... The period in United States history with the largest decline in the Solow residual is the Great Depression. Early attempts to provide a real theory of the Depression did not consider productivity, such as Lucas and Rapping (1972). For many RBC theorists, the Depression was of a different nature tha ...
NBER WORKING PAPER SERIES Robert E. Hall Working Paper 15496
... of the left-hand variable, t . This identifying assumption has two aspects. First, military spending does not respond to forces determining GDP or consumption, such as monetary or financial forces, but only to geopolitical events. I have long believed that this aspect of the identifying assumption ...
... of the left-hand variable, t . This identifying assumption has two aspects. First, military spending does not respond to forces determining GDP or consumption, such as monetary or financial forces, but only to geopolitical events. I have long believed that this aspect of the identifying assumption ...
and Uncertain Fiscal Financing - Federal Reserve Bank of Kansas City
... which is treated as an absorbing state for promised transfers. Both before and after the switch to the explosive transfers process, tax policy passively adjusts the distorting tax rate to try to stabilize government debt, while monetary policy is active, obeying a Taylor rule that aims to target the ...
... which is treated as an absorbing state for promised transfers. Both before and after the switch to the explosive transfers process, tax policy passively adjusts the distorting tax rate to try to stabilize government debt, while monetary policy is active, obeying a Taylor rule that aims to target the ...
Monetary Policy Transparency - Faculty of Economics
... regularly published forward-looking analysis in 1998, but often only qualitative assessments. The Dincer and Eichengreen (2013) dataset reveals a remarkable improvement in economic transparency involving quantitative information. The publication of numerical macroeconomic forecasts greatly expanded ...
... regularly published forward-looking analysis in 1998, but often only qualitative assessments. The Dincer and Eichengreen (2013) dataset reveals a remarkable improvement in economic transparency involving quantitative information. The publication of numerical macroeconomic forecasts greatly expanded ...
Abstract - Brad DeLong
... In the early 1970s, U.S. productivity growth fell off a cliff. Measured output per personhour worked in nonfarm business had averaged a growth rate of 2.88 percent per year from 1947 to 1973. It averaged a growth rate of only 1.30 percent per year from 1973 to 1995. The deceleration in the growth ra ...
... In the early 1970s, U.S. productivity growth fell off a cliff. Measured output per personhour worked in nonfarm business had averaged a growth rate of 2.88 percent per year from 1947 to 1973. It averaged a growth rate of only 1.30 percent per year from 1973 to 1995. The deceleration in the growth ra ...
The 1990s Acceleration in Labor Productivity: Causes and Measurement
... Corrado and Slifman (1999) argued that most data problems were in the nonfinancial noncorporate sector, half of which was composed of difficult-to-measure services-sector firms. They concluded that mismeasurement so contaminated these figures that data for the nonfarm business sector should not be u ...
... Corrado and Slifman (1999) argued that most data problems were in the nonfinancial noncorporate sector, half of which was composed of difficult-to-measure services-sector firms. They concluded that mismeasurement so contaminated these figures that data for the nonfarm business sector should not be u ...
Coordinating Business Cycles ∗ Edouard Schaal Mathieu Taschereau-Dumouchel
... an abundance of capital leads to an increase in income and investment, thereby facilitating coordination on high output in the future. Capital accumulation therefore makes coordination persistent. In particular, the dynamics of the capital stock may feature two stable steady states, a situation that ...
... an abundance of capital leads to an increase in income and investment, thereby facilitating coordination on high output in the future. Capital accumulation therefore makes coordination persistent. In particular, the dynamics of the capital stock may feature two stable steady states, a situation that ...
Taxa Real de Câmbio, Mobilidade de Capitais e Mudança
... determinants of the degree of productive specialization, then a real exchange rate appreciation will cause a reduction in the growth rate of output. The objective of this article is to present a modified Kaldorian model of demand-led growth that incorporates monetary policy rules, capital mobility a ...
... determinants of the degree of productive specialization, then a real exchange rate appreciation will cause a reduction in the growth rate of output. The objective of this article is to present a modified Kaldorian model of demand-led growth that incorporates monetary policy rules, capital mobility a ...
The Multiplier
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...