An Investigation of Openness and Economic Growth Using Panel Estimation Pei-Pei Chen
... model and showed that when labour markets are more flexible, trade liberalization will increase per capita income. A non-linear growth regression is estimated to test the growth effects of openness on structural characteristics. Trade openness is interacted with proxies of education, investment, fin ...
... model and showed that when labour markets are more flexible, trade liberalization will increase per capita income. A non-linear growth regression is estimated to test the growth effects of openness on structural characteristics. Trade openness is interacted with proxies of education, investment, fin ...
Global Economic Environment - uni
... Inflation could result from activist economic policies There are two types of mechanisms: Cost push Demand pull ...
... Inflation could result from activist economic policies There are two types of mechanisms: Cost push Demand pull ...
EXPLAINING PROTEST IN THE AFTERMATH OF THE GREAT
... European Social Survey (ESS) data from 2006 through 20124. As ESS waves are conducted every two years, the data provide a good temporal assessment of when changes may have taken place in regards to levels of confrontational activism. Values from 2006 will be a baseline for the variables before the e ...
... European Social Survey (ESS) data from 2006 through 20124. As ESS waves are conducted every two years, the data provide a good temporal assessment of when changes may have taken place in regards to levels of confrontational activism. Values from 2006 will be a baseline for the variables before the e ...
PDF
... the PBC since mid-2014 has no doubt started loosening its monetary policy, initially tentatively and later more forcefully. Is such a policy shift warranted and desirable? My answer is yes. I think that at the current juncture, a strong ca se can be made for meaningful Chinese monetary easing based ...
... the PBC since mid-2014 has no doubt started loosening its monetary policy, initially tentatively and later more forcefully. Is such a policy shift warranted and desirable? My answer is yes. I think that at the current juncture, a strong ca se can be made for meaningful Chinese monetary easing based ...
Leveraged Bubbles
... the near universe of advanced economies in the era of modern economic growth and finance capitalism over the last 150 years. Financial crises and asset price boom-busts are relatively rare events. Thus, any empirical study must employ very long time series and the historical experience of more than ...
... the near universe of advanced economies in the era of modern economic growth and finance capitalism over the last 150 years. Financial crises and asset price boom-busts are relatively rare events. Thus, any empirical study must employ very long time series and the historical experience of more than ...
Chapter 23: Why Do Economies Grow?
... • There are two basic mechanisms which increase GDP per capita over the long term: • Capital deepening: an increase in the economy’s stock of capital—plant and equipment—relative to its workforce. • Technological progress: the ability to produce more output without using any more inputs—capital or l ...
... • There are two basic mechanisms which increase GDP per capita over the long term: • Capital deepening: an increase in the economy’s stock of capital—plant and equipment—relative to its workforce. • Technological progress: the ability to produce more output without using any more inputs—capital or l ...
Looking Beyond The Greek Crisis and Lessons for Europe Yannis M. Ioannides
... to become entrenched and structural. In other words, lack of structural reforms raises the spectre of permanent economic divergence between members. And insofar as this threatens the essential cohesion of the Union, this has potentially damaging consequences for all EMU members ... Euro area countri ...
... to become entrenched and structural. In other words, lack of structural reforms raises the spectre of permanent economic divergence between members. And insofar as this threatens the essential cohesion of the Union, this has potentially damaging consequences for all EMU members ... Euro area countri ...
Balanced Budget Amendment Proposal Is Extreme by International
... Only nine countries have constitutional rules about budget balances or deficits — and again, none of those requires balancing the budget during recessions. Further, international and U.S. experience does not indicate that adopting any type of fiscal rule — and certainly not one as draconian as the ...
... Only nine countries have constitutional rules about budget balances or deficits — and again, none of those requires balancing the budget during recessions. Further, international and U.S. experience does not indicate that adopting any type of fiscal rule — and certainly not one as draconian as the ...
Investment Hangover and the Great Recessionâ
... living in their own homes rose from about 65% to about 69%. The homeownership rate fell back below 65% in 2014, suggesting that the housing capital might have been in excess for many years after 2007. The excess housing capital lowers residential investment and slows down economic activity. Our argu ...
... living in their own homes rose from about 65% to about 69%. The homeownership rate fell back below 65% in 2014, suggesting that the housing capital might have been in excess for many years after 2007. The excess housing capital lowers residential investment and slows down economic activity. Our argu ...
BALTIC DRY INDEX AS ECONOMIC LEADING INDICATOR IN THE
... needs of this study with Bry-Boschan algorithm. Modification of the procedure adopted by NBER was dictated with a need to adapt to quarterly published details of GDP and daily values of BDI. Adopted research method was loosely based on Bry-Boschan algorithm. The algorithm of analysis was as follows: ...
... needs of this study with Bry-Boschan algorithm. Modification of the procedure adopted by NBER was dictated with a need to adapt to quarterly published details of GDP and daily values of BDI. Adopted research method was loosely based on Bry-Boschan algorithm. The algorithm of analysis was as follows: ...
The American University in Cairo School of Business A Thesis Submitted to
... demand and supply sides of the economy, and so launched the ERSAP. The agreement covered much the same ground as the 1987 agreement, where restraints on government expenditure were imposed, with interest rising to above 20%, and the government had to boost revenues through adopting a sales tax. In a ...
... demand and supply sides of the economy, and so launched the ERSAP. The agreement covered much the same ground as the 1987 agreement, where restraints on government expenditure were imposed, with interest rising to above 20%, and the government had to boost revenues through adopting a sales tax. In a ...
20116822454122
... policy and monetary policy have different effects on internal economy and external economy. So even under fixed exchange rate system, it is likely to utilize fiscal policy and monetary policy to achieve both internal and external balance. Fiscal policy and monetary policy may affect national incom ...
... policy and monetary policy have different effects on internal economy and external economy. So even under fixed exchange rate system, it is likely to utilize fiscal policy and monetary policy to achieve both internal and external balance. Fiscal policy and monetary policy may affect national incom ...
9.1 Internal Balance and External Balance
... Expenditure-changing policies include fiscal policy and monetary policy, altering the level of aggregate demand for goods and services which are either produced domestically or imported. Expenditure-switching policies refer to exchange-rate policies, including appreciation or depreciation of a curr ...
... Expenditure-changing policies include fiscal policy and monetary policy, altering the level of aggregate demand for goods and services which are either produced domestically or imported. Expenditure-switching policies refer to exchange-rate policies, including appreciation or depreciation of a curr ...
Chapter 1: Introduction
... sticky-price equilibrium level of real GDP, as long as the central bank followed a policy of pegging the real interest rate to a fixed value. But what if the central bank does not follow a policy of pegging the interest rate at some target value? Or what if there is no central bank--as was the case ...
... sticky-price equilibrium level of real GDP, as long as the central bank followed a policy of pegging the real interest rate to a fixed value. But what if the central bank does not follow a policy of pegging the interest rate at some target value? Or what if there is no central bank--as was the case ...
paper - Pascal Michaillat
... and Saez [2015a] show how the model can be extended to include distinct labor and product markets. In that model, firms hire workers on the labor market and sell their production on the product market. 4 The model has a similar structure to the model developed by Michaillat and Saez [2014], but the ...
... and Saez [2015a] show how the model can be extended to include distinct labor and product markets. In that model, firms hire workers on the labor market and sell their production on the product market. 4 The model has a similar structure to the model developed by Michaillat and Saez [2014], but the ...
ICAEW/GrAnt thornton BusInEss ConfIdEnCE MonItor An IndICATor oF FuTurE EConoMIC TrEnds
... The BCM indicators are a useful input into economic forecasting models. Many existing forecasting models are backward-looking, in the sense that they look at how policy variables such as interest rates have impacted on factors such as business investment in the past. These historic relationships are ...
... The BCM indicators are a useful input into economic forecasting models. Many existing forecasting models are backward-looking, in the sense that they look at how policy variables such as interest rates have impacted on factors such as business investment in the past. These historic relationships are ...
Structural Fiscal Rule: A Proposal for Mexico
... cycle. During the past two recessions in the U.S. (2001 and 20082009), Mexico amplified the economic falls of its main trade partners. Even though monetary policy did not react to those two crises by hiking the interest rate, fiscal policy did tighten in 2001 and ended 2009 cutting the budget twice ...
... cycle. During the past two recessions in the U.S. (2001 and 20082009), Mexico amplified the economic falls of its main trade partners. Even though monetary policy did not react to those two crises by hiking the interest rate, fiscal policy did tighten in 2001 and ended 2009 cutting the budget twice ...
OECD Labour Markets in the Great Recession
... Compare like for like • If we put both unemployment and the construction sector on comparable basis, e.g., as fractions of total employment, then • Unemployment up by 16 points (even more for men) • Construction employment down by 4.2 points • Numbers don’t add up! ...
... Compare like for like • If we put both unemployment and the construction sector on comparable basis, e.g., as fractions of total employment, then • Unemployment up by 16 points (even more for men) • Construction employment down by 4.2 points • Numbers don’t add up! ...
The long history of financial boom-bust cycles in Iceland1 Part I
... However, we find that macroeconomic variables, such as output, domestic demand, the trade deficit and, to a lesser extent, the real exchange rate, give a more robust warning signal. Our results also suggest an important role of contagion from global financial crises in most of these episodes, with f ...
... However, we find that macroeconomic variables, such as output, domestic demand, the trade deficit and, to a lesser extent, the real exchange rate, give a more robust warning signal. Our results also suggest an important role of contagion from global financial crises in most of these episodes, with f ...
View Chapter 4, Growth, Unemployment, and Inflation
... goods increased between Year 1 and Year 2 (machines, bread, and cars) while the output of roads decreased. In addition, the prices of all its products increased (compare columns 3 and 6). The nominal GDP (column 4) is calculated by multiplying the outputs of each product by their current prices. Sim ...
... goods increased between Year 1 and Year 2 (machines, bread, and cars) while the output of roads decreased. In addition, the prices of all its products increased (compare columns 3 and 6). The nominal GDP (column 4) is calculated by multiplying the outputs of each product by their current prices. Sim ...