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... well above its long-term average of 95.5 (1998–2013). WES experts expect world economic growth of 2.5 percent this year. They forecast growth rates of 1.6 percent for Europe and 2.5 percent for North America. In Latin America and Asia, by contrast, respective growth rates of 2.3 percent and 3.7 perc ...
... well above its long-term average of 95.5 (1998–2013). WES experts expect world economic growth of 2.5 percent this year. They forecast growth rates of 1.6 percent for Europe and 2.5 percent for North America. In Latin America and Asia, by contrast, respective growth rates of 2.3 percent and 3.7 perc ...
Endogenous Wage Indexation and Aggregate
... choice imposes on the aggregate, as her size is negligible in comparison with the whole. In consequence, workers choices lead to an inefficient decentralized equilibrium. Finally, we perform a set of counterfactual exercises in which we calibrate the model to represent two recent regimes of the U.S. ...
... choice imposes on the aggregate, as her size is negligible in comparison with the whole. In consequence, workers choices lead to an inefficient decentralized equilibrium. Finally, we perform a set of counterfactual exercises in which we calibrate the model to represent two recent regimes of the U.S. ...
Allocation, distribution, and scale: towards an
... modern reduction of all ethical choice to the level of personal tastes weighted by income. It is instructive to consider the historical attempt of the Scholastic economists to subsume distribution under allocation (or more likely they were subsuming allocation under distribution - at any rate they d ...
... modern reduction of all ethical choice to the level of personal tastes weighted by income. It is instructive to consider the historical attempt of the Scholastic economists to subsume distribution under allocation (or more likely they were subsuming allocation under distribution - at any rate they d ...
Ch05 11e Lecture Presentation
... The U.S. economy creates lots of jobs: 139 million people had jobs during the recession of 2009. But in recent years, the population has grown faster than the number of jobs, so unemployment is a serious problem. © 2014 Pearson Addison-Wesley ...
... The U.S. economy creates lots of jobs: 139 million people had jobs during the recession of 2009. But in recent years, the population has grown faster than the number of jobs, so unemployment is a serious problem. © 2014 Pearson Addison-Wesley ...
The Contribution of Government Expenditure on Economic Growth
... programs. Nweke [27] pointed that Public ownership in key sectors of the economy were viewed as a more effective way to achieve economic growth and development since it was believed that the private sector in developing countries lacked the means (financial and entrepreneurial skill) to undertake th ...
... programs. Nweke [27] pointed that Public ownership in key sectors of the economy were viewed as a more effective way to achieve economic growth and development since it was believed that the private sector in developing countries lacked the means (financial and entrepreneurial skill) to undertake th ...
UK Economic Performance Since 1997: Growth, Productivity and Jobs
... prior to 1997, notably the years of Conservative government, 1979-97. We focus on measures of business performance, especially productivity growth. This is a key economic indicator as in the long run, productivity determines material wellbeing – wages and consumption. Productivity determines the siz ...
... prior to 1997, notably the years of Conservative government, 1979-97. We focus on measures of business performance, especially productivity growth. This is a key economic indicator as in the long run, productivity determines material wellbeing – wages and consumption. Productivity determines the siz ...
OCR AS Level Economics H060
... a strong grounding in both microeconomics and macroeconomics, through a two-component externally assessed qualification. The key purpose of this qualification is to provide an introduction to the study of Economics, with the content focusing on providing the basic knowledge and understanding of the ...
... a strong grounding in both microeconomics and macroeconomics, through a two-component externally assessed qualification. The key purpose of this qualification is to provide an introduction to the study of Economics, with the content focusing on providing the basic knowledge and understanding of the ...
Effects of the Exchange Rate on Output and Price Level:Evidence
... academic and empirical researchers. A number of empirical studies have supported the contractionary devaluation hypothesis using pooled time series data from a large number of heterogeneous countries. Since the effects of devaluation on output and the price level may not be uniform across all develo ...
... academic and empirical researchers. A number of empirical studies have supported the contractionary devaluation hypothesis using pooled time series data from a large number of heterogeneous countries. Since the effects of devaluation on output and the price level may not be uniform across all develo ...
DEPARTMENT OF ECONOMICS Introduction
... ECON 3710 Intermediate Microeconomic Theory 3 s.h. A systematic analysis of the theory of demand and the theory of the firm: production input and output choices, and some basic concepts of linear programming. An intensive analysis of the theory of the firm: competitive pricing, monopoly pricing, pri ...
... ECON 3710 Intermediate Microeconomic Theory 3 s.h. A systematic analysis of the theory of demand and the theory of the firm: production input and output choices, and some basic concepts of linear programming. An intensive analysis of the theory of the firm: competitive pricing, monopoly pricing, pri ...
A MACROECONOMETRIC MODEL FOR THE ECONOMY OF
... It is evident from the policy options assessed in this study that fiscal policy remains the main and most potent policy instrument available to policy makers. It is also evident that the effectiveness of fiscal policy is not exclusive as monetary policy can still be used to some extent. A salient ou ...
... It is evident from the policy options assessed in this study that fiscal policy remains the main and most potent policy instrument available to policy makers. It is also evident that the effectiveness of fiscal policy is not exclusive as monetary policy can still be used to some extent. A salient ou ...
Estimating Potential GDP and Forecasting Deflation
... In this chapter we use the GDP deflator as an indicator of deflation, and the GDP gap as that of an indicator of the health of the economy to provide a measure of whether a deflationary spiral is occurring. The GDP deflator is an indicator that shows trends of price movements in the entire economy a ...
... In this chapter we use the GDP deflator as an indicator of deflation, and the GDP gap as that of an indicator of the health of the economy to provide a measure of whether a deflationary spiral is occurring. The GDP deflator is an indicator that shows trends of price movements in the entire economy a ...
Nature and extent of employment flexibility among artisans in SA
... Definition of non-standard forms of employment The ILO (2015:1) identifies three forms of non-standard employment, including temporary employment, temporary agency work (including multiple employers) and finally, ambiguous employment relationships. This paper focuses largely on temporary employment ...
... Definition of non-standard forms of employment The ILO (2015:1) identifies three forms of non-standard employment, including temporary employment, temporary agency work (including multiple employers) and finally, ambiguous employment relationships. This paper focuses largely on temporary employment ...
NBER WORKING PAPER SERIES OPTIMAL SIMPLE AND IMPLEMENTABLE MONETARY Stephanie Schmitt-Grohé
... policies to deliver uniqueness of the rational expectations equilibrium. Simplicity requires restricting attention to rules whereby policy variables are set as a function of a small number of easily observable macroeconomic indicators. Specifically, we study interest-rate feedback rules that respon ...
... policies to deliver uniqueness of the rational expectations equilibrium. Simplicity requires restricting attention to rules whereby policy variables are set as a function of a small number of easily observable macroeconomic indicators. Specifically, we study interest-rate feedback rules that respon ...
NATIONAL OPEN UNIVERSITY OF NIGERIA MACROECONOMICS
... distinction between macroeconomics and microeconomics; basic tools of macroeconomics analysis. The second module (unit 4-7) explains the concept of consumption, consumption function, derivation of consumption function from a given saving function and the determinant of consumption and explores the c ...
... distinction between macroeconomics and microeconomics; basic tools of macroeconomics analysis. The second module (unit 4-7) explains the concept of consumption, consumption function, derivation of consumption function from a given saving function and the determinant of consumption and explores the c ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... coordination package guarantees that each country will be better off than it would be in the noncooperative equilibrium, the country will be able to do better still if it “cheats” on the agreement. That is, it will be able to do better in the short-run, assuming that the other countries leave their ...
... coordination package guarantees that each country will be better off than it would be in the noncooperative equilibrium, the country will be able to do better still if it “cheats” on the agreement. That is, it will be able to do better in the short-run, assuming that the other countries leave their ...
Unemployment-Inflation Relationship
... regional economies) experiencing a relatively unusual combination of low unemployment and low inflation, economy watchers have been refocusing their attention on a concept known as the non-accelerating inflation rate of unemployment or NAIRU. The interest, to be sure, is not purely academic (though ...
... regional economies) experiencing a relatively unusual combination of low unemployment and low inflation, economy watchers have been refocusing their attention on a concept known as the non-accelerating inflation rate of unemployment or NAIRU. The interest, to be sure, is not purely academic (though ...
inboks ru
... for each commodity (prices are equal to zero in case of excess supply). In our analysis we will focus on this static general equilibrium model and will investigate influence between equilibrium at micro- and macroeconomic levels. Models like the Walras-Arrow-Debreu one provide a microeconomic view o ...
... for each commodity (prices are equal to zero in case of excess supply). In our analysis we will focus on this static general equilibrium model and will investigate influence between equilibrium at micro- and macroeconomic levels. Models like the Walras-Arrow-Debreu one provide a microeconomic view o ...
NBER WORKING PAPER SERIES FIRM-SPECIFIC CAPITAL, NOMINAL RIGIDITIES AND THE BUSINESS CYCLE
... In our model aggregate inflation is inertial despite the fact that firms change prices frequently. The inertia reflects that when they do change prices, they do so by a small amount. Firms change prices by a small amount because each firm’s short run marginal cost curve is increasing in its own outp ...
... In our model aggregate inflation is inertial despite the fact that firms change prices frequently. The inertia reflects that when they do change prices, they do so by a small amount. Firms change prices by a small amount because each firm’s short run marginal cost curve is increasing in its own outp ...