If the GDP is Up, Why is America Down? October 1995
... nation's well being? By the end of the nineteenth century England's economic center of gravity had shifted significantly from manufacturing to trade and finance. In this new economy Smith's views on national wealth began to pinch. Alfred Marshall, who articulated what is now called neoclassical econ ...
... nation's well being? By the end of the nineteenth century England's economic center of gravity had shifted significantly from manufacturing to trade and finance. In this new economy Smith's views on national wealth began to pinch. Alfred Marshall, who articulated what is now called neoclassical econ ...
Say`s Law: Criticisms, Responses, and a Restatement
... implies the decreased supply of another good that satisfies a more highly valued end. King Midas was cursed not because he had too much gold, but because he lacked everything else. While the increase is essentially good, it may be accidentally detrimental. Money plays an intermediary role as the gen ...
... implies the decreased supply of another good that satisfies a more highly valued end. King Midas was cursed not because he had too much gold, but because he lacked everything else. While the increase is essentially good, it may be accidentally detrimental. Money plays an intermediary role as the gen ...
China Region Economic Growth Convergence and Its Mechanism
... According to the neo-classical growth theory, the economics of the countries of lower income will grow faster, so the income of poor countries will get close to the rich countries, which is called economic growth convergence. Borro and Salai(1992) put forward absolute convergence and conditional con ...
... According to the neo-classical growth theory, the economics of the countries of lower income will grow faster, so the income of poor countries will get close to the rich countries, which is called economic growth convergence. Borro and Salai(1992) put forward absolute convergence and conditional con ...
222 Fiscal Policy: the purposeful movements in government
... Nondiscretionary fiscal policy serves to get output moving back toward the desired level, ...
... Nondiscretionary fiscal policy serves to get output moving back toward the desired level, ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Musgrave (2004) refer to the use of budget policy to reduce unemployment and develop the well-being of human beings, maintain a reasonable degree of price stability, increase the rate of economic growth, and pursue balance of payment equilibrium as a stabilization function of public finance. Adams ( ...
... Musgrave (2004) refer to the use of budget policy to reduce unemployment and develop the well-being of human beings, maintain a reasonable degree of price stability, increase the rate of economic growth, and pursue balance of payment equilibrium as a stabilization function of public finance. Adams ( ...
Fiscal policies in Spain: main stylised facts
... fluctuations, i.e the dynamics of the series due to policy measures. An alternative way of looking at the correlation of discretionary fiscal policy shocks and macroeconomic variables is to consider the traditional dynamic SVAR approach to the computation of so-called fiscal multipliers. In this litera ...
... fluctuations, i.e the dynamics of the series due to policy measures. An alternative way of looking at the correlation of discretionary fiscal policy shocks and macroeconomic variables is to consider the traditional dynamic SVAR approach to the computation of so-called fiscal multipliers. In this litera ...
Document
... M is the quantity of money in the economy V is the velocity of money, or the average number of times per year each dollar is used to purchase final goods and services P is the price level Y is real national output, or real GDP Thus, the quantity of money in circulation multiplied by the number of ti ...
... M is the quantity of money in the economy V is the velocity of money, or the average number of times per year each dollar is used to purchase final goods and services P is the price level Y is real national output, or real GDP Thus, the quantity of money in circulation multiplied by the number of ti ...
Gauging the Impact of the Fed on Inequality During the Great
... The reason: Housing is a much larger share of assets for the middle-class than it is for wealthier households as the accompanying table shows. Wealthier households hold a disproportionate share of stocks and bonds. Houses, stocks and bonds all benefitted from the Fed’s LSAPs. Stock price increases d ...
... The reason: Housing is a much larger share of assets for the middle-class than it is for wealthier households as the accompanying table shows. Wealthier households hold a disproportionate share of stocks and bonds. Houses, stocks and bonds all benefitted from the Fed’s LSAPs. Stock price increases d ...
NBER WORKING PAPER SERIES A MODEL OF GROWTH THROUGH CREATIVE DESTRUCTION
... positive terms, the prospect of a high level of research in the future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez—faire to generate too ...
... positive terms, the prospect of a high level of research in the future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez—faire to generate too ...
PDF
... In addition to resource scarcity, the pollution that accompanies the production or use of particular kinds of inputs poses another constraint for economic growth. Although the literature on pollution and growth has largely been disjointed from that on the resource scarcity,1 the fundamental root of ...
... In addition to resource scarcity, the pollution that accompanies the production or use of particular kinds of inputs poses another constraint for economic growth. Although the literature on pollution and growth has largely been disjointed from that on the resource scarcity,1 the fundamental root of ...
From Liberal Continentalism to Neoconservatism
... In one of the few examinations of the impact of policy institutes in Canada, Leslie Pal corroborates Peschek's thesis that the emergence of think tanks is linked to economic crisis and the desire of business to harness the interventionist state to its advantage. Pal concludes that think tanks like t ...
... In one of the few examinations of the impact of policy institutes in Canada, Leslie Pal corroborates Peschek's thesis that the emergence of think tanks is linked to economic crisis and the desire of business to harness the interventionist state to its advantage. Pal concludes that think tanks like t ...
Long-Run and Short-Run Concerns: Growth, Productivity
... since the early 1970s. • The growth of the Internet, which brings about an increase in the quality of capital, should lead to a “new age” of productivity growth. ...
... since the early 1970s. • The growth of the Internet, which brings about an increase in the quality of capital, should lead to a “new age” of productivity growth. ...
Economic Policy in EMU: Community Framework and National Strategies - focus on Greece
... Even critics of some aspects of ECB’s monetary policy, agree that ECB performed remarkably in issuing a stable currency for 310 million people under circumstances without historic precedence. There are, however, several dissenting voices among academics and other observers on ECB’s monetary policy s ...
... Even critics of some aspects of ECB’s monetary policy, agree that ECB performed remarkably in issuing a stable currency for 310 million people under circumstances without historic precedence. There are, however, several dissenting voices among academics and other observers on ECB’s monetary policy s ...
A Path-Dependent Deadlock: Institutional
... of the economy and growing inequality, a process strongly encouraged by governments through inadequate deregulation of financial services, international mobility of financial capital, and labor market flexibilization, as potential causes of its creation.3 Although deregulation and financialization w ...
... of the economy and growing inequality, a process strongly encouraged by governments through inadequate deregulation of financial services, international mobility of financial capital, and labor market flexibilization, as potential causes of its creation.3 Although deregulation and financialization w ...
Chapter 16 Output and the Exchange Rate in the Short Run
... • We will combine the interest parity condition with the money market to derive the asset market equilibrium in the short-run. • The interest parity condition describing foreign exchange market equilibrium is: ...
... • We will combine the interest parity condition with the money market to derive the asset market equilibrium in the short-run. • The interest parity condition describing foreign exchange market equilibrium is: ...
Chapter 14 - Aufinance
... The response of expenditure plans to changes in the real interest rate depends on many factors that make the response hard to predict. The monetary policy transmission process is long and drawn out and doesn’t always respond in the same way. © 2014 Pearson Addison-Wesley ...
... The response of expenditure plans to changes in the real interest rate depends on many factors that make the response hard to predict. The monetary policy transmission process is long and drawn out and doesn’t always respond in the same way. © 2014 Pearson Addison-Wesley ...
