Governing the Global Economy
... development model of IMF • Is the IMF imposing a limited and a bad development model? • Unlike the path historically followed by the industrialized countries, the IMF forces countries from the Global South to prioritize export production over the development of diversified domestic economies. • Near ...
... development model of IMF • Is the IMF imposing a limited and a bad development model? • Unlike the path historically followed by the industrialized countries, the IMF forces countries from the Global South to prioritize export production over the development of diversified domestic economies. • Near ...
Macroeconomics - University of Oxford
... long-run aggregate supply • The labour market is in equilibrium when inflation is stable. • At the equilibrium unemployment rate, there will be both voluntary unemployment (workers who do not wish to work at the current real wage) and involuntary unemployment (workers who would like to work but can ...
... long-run aggregate supply • The labour market is in equilibrium when inflation is stable. • At the equilibrium unemployment rate, there will be both voluntary unemployment (workers who do not wish to work at the current real wage) and involuntary unemployment (workers who would like to work but can ...
Global Markets Group
... the previous year. Slow down of export growth to 1.02% in 2014 from 4.17% in 2013 is caused by slow recovery of the global economy that has an impact on slowing global demand. The export slowdown is also the impact of government policy which ban of the raw minerals exports and the declining commodit ...
... the previous year. Slow down of export growth to 1.02% in 2014 from 4.17% in 2013 is caused by slow recovery of the global economy that has an impact on slowing global demand. The export slowdown is also the impact of government policy which ban of the raw minerals exports and the declining commodit ...
PRESENTATION 1 INTRODUCTION&GDP
... Price stability – the price level is unchanged or rises very slowly The Consumer Price Index (CPI) - measures the average price of goods and services bought by consumers Rate of Inflation – the percentage change in the overall price level from one year to the next Inflation 2012 = [(CPI20012 – CPI20 ...
... Price stability – the price level is unchanged or rises very slowly The Consumer Price Index (CPI) - measures the average price of goods and services bought by consumers Rate of Inflation – the percentage change in the overall price level from one year to the next Inflation 2012 = [(CPI20012 – CPI20 ...
Roger W. Garrison THE LIMITS OF MACROECONOMICS
... suggest a hedged answer: “Sometimes it doesn’t, and sometimes it does.” In the most general terms, our specific answer depends on whether the intertemporal structure of capital is simply being maintained or is undergoing systematic modifications in the face of some ...
... suggest a hedged answer: “Sometimes it doesn’t, and sometimes it does.” In the most general terms, our specific answer depends on whether the intertemporal structure of capital is simply being maintained or is undergoing systematic modifications in the face of some ...
The IS-LM model
... The IS-LM model translates the General Theory of Keynes into neoclassical terms (often called the neoclassic synthesis ) It was proposed by John Hicks in 1937 in a paper called “Mr Keynes and the "Classics": A Suggested Interpretation” and enhanced by Alvin Hansen (hence it is also called the HicksH ...
... The IS-LM model translates the General Theory of Keynes into neoclassical terms (often called the neoclassic synthesis ) It was proposed by John Hicks in 1937 in a paper called “Mr Keynes and the "Classics": A Suggested Interpretation” and enhanced by Alvin Hansen (hence it is also called the HicksH ...
Chapter 35 - Cengage Learning
... Long-run aggregate supply 1. An increase in the money supply increases aggregate B demand . . . ...
... Long-run aggregate supply 1. An increase in the money supply increases aggregate B demand . . . ...
Fiscal Policy
... Introduction to The Spending Multiplier: • The impact policies have on the economy is like a ripple effect • Assuming that price is constant, multiplier effect is the magnified impact of a spending change on aggregate demand • Marginal Propensity to Consume answers the question: “If income increas ...
... Introduction to The Spending Multiplier: • The impact policies have on the economy is like a ripple effect • Assuming that price is constant, multiplier effect is the magnified impact of a spending change on aggregate demand • Marginal Propensity to Consume answers the question: “If income increas ...
The 2008 Economic Meltdown
... “home flippers” to participate in the housing market more easily 40% of purchases were not primary in 2006 (vacation, rental investment or flipping) (Christie) Both of these factors push up demand for homes creating a “real estate bubble” ...
... “home flippers” to participate in the housing market more easily 40% of purchases were not primary in 2006 (vacation, rental investment or flipping) (Christie) Both of these factors push up demand for homes creating a “real estate bubble” ...
Keynesian Macroeconomics: Aggregate Demand and the Multiplier
... The first two are consciously planned (although plans can change, and typically do during a recession); inventory investment can be unplanned -- if a store fails to sell what it had expected to, it winds up with more inventory than it had expected. Stores with unplanned inventory investment will cut ...
... The first two are consciously planned (although plans can change, and typically do during a recession); inventory investment can be unplanned -- if a store fails to sell what it had expected to, it winds up with more inventory than it had expected. Stores with unplanned inventory investment will cut ...
The Relative Strength of Fiscal and Monetary Policy in Saudi Arabia
... (9) Estimations were made using the program, Time Series Processor: Varsion 3.5 by Bronwyn H. Hall and Robert E. Hall, (Stanford University: April 6, 1980). Estimates were made using the Cochraine Orcutt iterative estimation procedure to correct for first order serial correlation. The variable RHO i ...
... (9) Estimations were made using the program, Time Series Processor: Varsion 3.5 by Bronwyn H. Hall and Robert E. Hall, (Stanford University: April 6, 1980). Estimates were made using the Cochraine Orcutt iterative estimation procedure to correct for first order serial correlation. The variable RHO i ...
DEVELOPMENT ECONOMICS
... c) No diminishing returns to capital assumption in the new theory -- sustained long-term growth resulting from increasing returns to scale. d) Perhaps the most interesting aspect of endogeneous growth models is that they help explain anomalous international flows of capital that deepens wealth dispa ...
... c) No diminishing returns to capital assumption in the new theory -- sustained long-term growth resulting from increasing returns to scale. d) Perhaps the most interesting aspect of endogeneous growth models is that they help explain anomalous international flows of capital that deepens wealth dispa ...
The archaeology of economic thought
... ECONOMIC THEORY is an axiomatic system: as long as the basic assumptions hold, the conclusions follow. But when we examine the assumptions closely we find that they do not apply to the real world … The assumption of perfect knowledge proved unsustainable, so it was replaced by an ingenious device. S ...
... ECONOMIC THEORY is an axiomatic system: as long as the basic assumptions hold, the conclusions follow. But when we examine the assumptions closely we find that they do not apply to the real world … The assumption of perfect knowledge proved unsustainable, so it was replaced by an ingenious device. S ...
austerity vs. stimulus
... • The reality of financial regulation is that new rules open new avenues for regulatory arbitrage, as institutions find loopholes in regulations. That in turn forces authorities to institute new regulations in an ongoing cat-and-mouse game (between a very smart mouse and a less nimble cat). • Global ...
... • The reality of financial regulation is that new rules open new avenues for regulatory arbitrage, as institutions find loopholes in regulations. That in turn forces authorities to institute new regulations in an ongoing cat-and-mouse game (between a very smart mouse and a less nimble cat). • Global ...
Economic Growth
... differences in living standards • Catching up is possible • Leader countries invent technology • Follower countries adopt technology ...
... differences in living standards • Catching up is possible • Leader countries invent technology • Follower countries adopt technology ...
Economics Department, SJSU - San Jose State University
... Macroeconomics is the study of the economy as whole - including growth in income (standard of living), changes in prices (cost of living), and the rate of unemployment (business cycle). The objective of this course is to study a set of macroeconomics concepts and tools of analysis to help us to answ ...
... Macroeconomics is the study of the economy as whole - including growth in income (standard of living), changes in prices (cost of living), and the rate of unemployment (business cycle). The objective of this course is to study a set of macroeconomics concepts and tools of analysis to help us to answ ...
Lecture 7
... – More plausible that continual increase in saving rate. – So negative effect on growth of rising k is offset by positive effect on growth of technological progress shifting k* to the right ...
... – More plausible that continual increase in saving rate. – So negative effect on growth of rising k is offset by positive effect on growth of technological progress shifting k* to the right ...
Chapter 8
... Growth is an important economic goal because it means more material abundance and ability to meet the economizing problem. Expansion of output relative to population results in rising real wages and incomes and thus higher standards of living. A growing economy is better able to meet people’s wants ...
... Growth is an important economic goal because it means more material abundance and ability to meet the economizing problem. Expansion of output relative to population results in rising real wages and incomes and thus higher standards of living. A growing economy is better able to meet people’s wants ...