Trade, Knowledge and the Industrial Revolution
... rising skill premia after the initial onset of the Industrial Revolution, whereas, as we discuss below, they declined after the onset of the Industrial Revolution in the middle of the 18th century, rather than rising. It was only in the 19th century that they started rising, but they did so only ve ...
... rising skill premia after the initial onset of the Industrial Revolution, whereas, as we discuss below, they declined after the onset of the Industrial Revolution in the middle of the 18th century, rather than rising. It was only in the 19th century that they started rising, but they did so only ve ...
Economic Policies for the 1980`s - Scholarly Commons
... 1, There exists a popular belief that the ratio of energy supply to real GNP is somehow constant. Thus a 20 percent reduction in energy supply would lower aggregate output in the same proportion and produce a major depression. However, neither economic theory nor empirical observations support this ...
... 1, There exists a popular belief that the ratio of energy supply to real GNP is somehow constant. Thus a 20 percent reduction in energy supply would lower aggregate output in the same proportion and produce a major depression. However, neither economic theory nor empirical observations support this ...
The Great Depression in Italy - USC Price School of Public Policy
... To close the model, we need to specify the demand of exports from the foreign sector. We assume that the real demand of exports is always equal to the real demand of imports, that is, X = M . One way to interpret this restriction is by assuming the existence of two symmetric countries both affected ...
... To close the model, we need to specify the demand of exports from the foreign sector. We assume that the real demand of exports is always equal to the real demand of imports, that is, X = M . One way to interpret this restriction is by assuming the existence of two symmetric countries both affected ...
Inflation
... purchasing power of the cash balances held by the private sector—like a wealth tax. This tax is a drag on the economy—an "efficiency loss"— because it induces people and businesses to economize on cash balances, making it more difficult to participate in the money economy. Economic losses associated ...
... purchasing power of the cash balances held by the private sector—like a wealth tax. This tax is a drag on the economy—an "efficiency loss"— because it induces people and businesses to economize on cash balances, making it more difficult to participate in the money economy. Economic losses associated ...
Business Cycles II: Theories
... the high productivity he’s going to work hard (high L) and invest in a new tractor. But now farmer Joe is also richer and he will want to buy new clothes and eat well (high C). If Joe is counting on a lot of future good harvests, consumption and investment expenditures will probably exceed current i ...
... the high productivity he’s going to work hard (high L) and invest in a new tractor. But now farmer Joe is also richer and he will want to buy new clothes and eat well (high C). If Joe is counting on a lot of future good harvests, consumption and investment expenditures will probably exceed current i ...
making the most of our heritage - Institute of Historic Building
... impacts are taken into account, equivalent to 8.2% of UK Gross Domestic Product. The visitor economy was estimated to be providing employment for 2.7 million people across the UK in 2007, equivalent to 8.4% of the workforce. It is the UK’s third highest export earner behind Chemicals and Financial S ...
... impacts are taken into account, equivalent to 8.2% of UK Gross Domestic Product. The visitor economy was estimated to be providing employment for 2.7 million people across the UK in 2007, equivalent to 8.4% of the workforce. It is the UK’s third highest export earner behind Chemicals and Financial S ...
making the most of our heritage
... impacts are taken into account, equivalent to 8.2% of UK Gross Domestic Product. The visitor economy was estimated to be providing employment for 2.7 million people across the UK in 2007, equivalent to 8.4% of the workforce. It is the UK’s third highest export earner behind Chemicals and Financial S ...
... impacts are taken into account, equivalent to 8.2% of UK Gross Domestic Product. The visitor economy was estimated to be providing employment for 2.7 million people across the UK in 2007, equivalent to 8.4% of the workforce. It is the UK’s third highest export earner behind Chemicals and Financial S ...
The Big Picture of Monetary–Fiscal Interactions
... Interestingly, monetary commitment may also be able to indirectly discipline the government, that is, improve fiscal outcomes as well as monetary outcomes. This is through a credible threat from the central bank of a tug-of-war between the two policies. We conclude by showing that this prediction is ...
... Interestingly, monetary commitment may also be able to indirectly discipline the government, that is, improve fiscal outcomes as well as monetary outcomes. This is through a credible threat from the central bank of a tug-of-war between the two policies. We conclude by showing that this prediction is ...
forEquitable Growth
... Lucas and Sargent (1978) claimed that the simultaneous occurrence of high inflation and high unemployment in the 1970s was evidence of the failure of Keynesian economic theory for which “a key element … is a ‘trade-off’ between inflation and real output: ‘the higher is the inflation rate, the higher ...
... Lucas and Sargent (1978) claimed that the simultaneous occurrence of high inflation and high unemployment in the 1970s was evidence of the failure of Keynesian economic theory for which “a key element … is a ‘trade-off’ between inflation and real output: ‘the higher is the inflation rate, the higher ...
Macroeconomics
... 11. What does the modern corporation have in common with the “great merchant companies of fifteenth- and sixteenth-century England and Holland”? How are they different? 12. How did the US Constitution treat corporations? 13. What were the restrictions put on corporations until the mid 1800s? 14. How ...
... 11. What does the modern corporation have in common with the “great merchant companies of fifteenth- and sixteenth-century England and Holland”? How are they different? 12. How did the US Constitution treat corporations? 13. What were the restrictions put on corporations until the mid 1800s? 14. How ...
The Great Depression in Italy: Trade Restrictions and
... To close the model, we need to specify the demand of exports from the foreign sector. We assume that the real demand of exports is always equal to the real demand of imports, that is, X = M . One way to interpret this restriction is by assuming the existence of two symmetric countries both affected b ...
... To close the model, we need to specify the demand of exports from the foreign sector. We assume that the real demand of exports is always equal to the real demand of imports, that is, X = M . One way to interpret this restriction is by assuming the existence of two symmetric countries both affected b ...
For U.S. Economic Growth, Two Percent is the New Three
... An equally significant contributor to slowing labor productivity is a measured slowdown in the rate of innovation (or technological change) in the economy. Over the long term, the main source of increases in living standards is changes in what economists call total factor productivity (or TFP). Once ...
... An equally significant contributor to slowing labor productivity is a measured slowdown in the rate of innovation (or technological change) in the economy. Over the long term, the main source of increases in living standards is changes in what economists call total factor productivity (or TFP). Once ...
construction industry prospects 2017
... Driven by a sustainable domestic demand with support from a moderate external demand, Malaysia achieved a 5.0% economic growth in 2015. The small Malaysian market is very much in need of foreign markets to spur higher growth for continuous development. The wide foreign markets does not only provide ...
... Driven by a sustainable domestic demand with support from a moderate external demand, Malaysia achieved a 5.0% economic growth in 2015. The small Malaysian market is very much in need of foreign markets to spur higher growth for continuous development. The wide foreign markets does not only provide ...
A Decade of Change: El Paso`s Economic Transition of the 1990s
... services-related employment is benefiting from the economic interrelationships generated by daily flows of trade and people between these cities. This article examines El Paso’s economic transition over the past decade and considers how linkages to Ciudad Juárez have transformed the two economies fr ...
... services-related employment is benefiting from the economic interrelationships generated by daily flows of trade and people between these cities. This article examines El Paso’s economic transition over the past decade and considers how linkages to Ciudad Juárez have transformed the two economies fr ...
View the report
... regulation that is understood to restrain domestic economic activity, and (iii) the UK will regain the flexibility to strike more favourable bi-lateral trade agreements with third (non-EU) countries by, for instance, reducing bi-lateral trade tariffs and other non-tariff barriers. 9. Although it is ...
... regulation that is understood to restrain domestic economic activity, and (iii) the UK will regain the flexibility to strike more favourable bi-lateral trade agreements with third (non-EU) countries by, for instance, reducing bi-lateral trade tariffs and other non-tariff barriers. 9. Although it is ...
THE DYNAMICS OF GENERAL EQUILIBRIUM*
... members of the set are produced and consumed at a high level, and another in which they are not produced. The probability of moving from one attracting state to the other will be close to zero, requiring multiple, highly correlated mutations sustained over many periods. Ó The Author(s). Journal comp ...
... members of the set are produced and consumed at a high level, and another in which they are not produced. The probability of moving from one attracting state to the other will be close to zero, requiring multiple, highly correlated mutations sustained over many periods. Ó The Author(s). Journal comp ...
Macroeconomic revolution on shaky grounds
... (4) Lucas/Sargent claims only one economics – not micro and macro – which needs to be based on ‘first principles’ (equilibrium and optimization), the so-called micro foundations, but their analysis treats micro units superficially. They do not investigate the consequences of actions at the micro lev ...
... (4) Lucas/Sargent claims only one economics – not micro and macro – which needs to be based on ‘first principles’ (equilibrium and optimization), the so-called micro foundations, but their analysis treats micro units superficially. They do not investigate the consequences of actions at the micro lev ...
W h a t ’s t h e ... c r o s s e d t...
... The objectives of this article are twofold. The first is to examine explanations for the recent performance of the United States economy. We examine both ‘New Economy’ and other more conventional explanations. The second objective is to see whether ‘New Economy’ factors have had an impact on the New ...
... The objectives of this article are twofold. The first is to examine explanations for the recent performance of the United States economy. We examine both ‘New Economy’ and other more conventional explanations. The second objective is to see whether ‘New Economy’ factors have had an impact on the New ...
The Political Economy of Reform in Egypt
... factors that lessened confidence in the economy included the 1997 terrorist attack in Luxor, which resulted in the killing of 62 people, including 58 tourists, and the “loan deputies” financial scandal. This scandal involved five former members of the People’s Assembly who were accused of using thei ...
... factors that lessened confidence in the economy included the 1997 terrorist attack in Luxor, which resulted in the killing of 62 people, including 58 tourists, and the “loan deputies” financial scandal. This scandal involved five former members of the People’s Assembly who were accused of using thei ...
Input-Output Models for Impact Analysis: Suggestions for
... ▪ Confusing changes in investment with intermediate purchases ▪ Using final-demand changes in purchaser prices ▪ Using a Type II multiplier when a Type I multipliers is more appropriate ▪ Averaging or summing multipliers ▪ Using multipliers to measure industry contributions www.bea.gov ...
... ▪ Confusing changes in investment with intermediate purchases ▪ Using final-demand changes in purchaser prices ▪ Using a Type II multiplier when a Type I multipliers is more appropriate ▪ Averaging or summing multipliers ▪ Using multipliers to measure industry contributions www.bea.gov ...
chapter 28 - W.W. Norton
... chapter, an especially pressing one is that it is static in nature: individuals maximize their utilities over a single time period.1 Of course, in reality, not only do people make a series of decisions over their life cycles but their behavior also responds to the evolution of their economic circums ...
... chapter, an especially pressing one is that it is static in nature: individuals maximize their utilities over a single time period.1 Of course, in reality, not only do people make a series of decisions over their life cycles but their behavior also responds to the evolution of their economic circums ...