This PDF is a selection from a published volume
... exogenous, time-varying levels of productivity, government purchases, and government labor input. Our results can be briefly summarized as follows. For a small country within our basic model, which knows that its policies have no effect on community-wide interest rates, it is optimal to set tax rate ...
... exogenous, time-varying levels of productivity, government purchases, and government labor input. Our results can be briefly summarized as follows. For a small country within our basic model, which knows that its policies have no effect on community-wide interest rates, it is optimal to set tax rate ...
http://dsp-psd
... Mitchell, Director of National Bureau of Economic Research, “Only those who had a personal share in the economic mobilization for World War I could realize in how many ways and how much estimates of national income covering 20 years and classified in several ways facilitated the World War II effort. ...
... Mitchell, Director of National Bureau of Economic Research, “Only those who had a personal share in the economic mobilization for World War I could realize in how many ways and how much estimates of national income covering 20 years and classified in several ways facilitated the World War II effort. ...
Finance and Growth under Capitalism
... an initial increase in investment, via consumption alone. But of course, demand stimulation through various rounds of consumption may also be augmented by demand stimulation via rounds of induced investment as well. This augmented multiplier which takes into acc ...
... an initial increase in investment, via consumption alone. But of course, demand stimulation through various rounds of consumption may also be augmented by demand stimulation via rounds of induced investment as well. This augmented multiplier which takes into acc ...
Real Business Cycles Theory
... representative agent will want to work as much as possible when the wage is high, so that the economy as a hole behaves like a hypothetical agent with infinite elasticity of substitution of leisure, even though individual agents have diminishing marginal utility of leisure. In presence of this non-c ...
... representative agent will want to work as much as possible when the wage is high, so that the economy as a hole behaves like a hypothetical agent with infinite elasticity of substitution of leisure, even though individual agents have diminishing marginal utility of leisure. In presence of this non-c ...
Economic Fluctuations, Unemployment, and Inflation
... • 1. A student who decides at midsemester to devote the rest of the term to studying quits her part-time job • 2. A graphic artist who is out of work because a computer now does her job. • 3. A waiter who quits his job and is applying for the same type of work in a restaurant where morale is better ...
... • 1. A student who decides at midsemester to devote the rest of the term to studying quits her part-time job • 2. A graphic artist who is out of work because a computer now does her job. • 3. A waiter who quits his job and is applying for the same type of work in a restaurant where morale is better ...
The AD-AS Model
... summarize the analysis of how the economy responds to recessionary and inflationary gaps, we can focus on the output gap Output Gap: the percentage difference between actual output and potential output o Measured as the percentage Y2 lies away from Y1 o Always trends towards zero Output gap = actu ...
... summarize the analysis of how the economy responds to recessionary and inflationary gaps, we can focus on the output gap Output Gap: the percentage difference between actual output and potential output o Measured as the percentage Y2 lies away from Y1 o Always trends towards zero Output gap = actu ...
David Ricardo
... He was a bullionist Believed in "commodity theory" or "metallic theory" of money. Money is simply gold, silver and other precious metals. The price of money is just like that of any other commodity: cost of production. More explicitly, he regarded the long run value of money to be equal to the costs ...
... He was a bullionist Believed in "commodity theory" or "metallic theory" of money. Money is simply gold, silver and other precious metals. The price of money is just like that of any other commodity: cost of production. More explicitly, he regarded the long run value of money to be equal to the costs ...
by Richard G. Lipsey - canadian economics association
... The real economy is evolving under the impact of continuous technological changes, which are determined endogenously by agents groping into an uncertain future in search of profits but not able to establish unique profit maximizing lines of behaviour. The kinds of technological shocks that are obser ...
... The real economy is evolving under the impact of continuous technological changes, which are determined endogenously by agents groping into an uncertain future in search of profits but not able to establish unique profit maximizing lines of behaviour. The kinds of technological shocks that are obser ...
the paper
... geography of the country had to a large extent been reversed” (Massey, 1986, p.31 The old geography of sectoral specialisation and economic organisation, which had favoured the ‘North’, was being replaced by a new and different pattern of sectoral specialisation a ...
... geography of the country had to a large extent been reversed” (Massey, 1986, p.31 The old geography of sectoral specialisation and economic organisation, which had favoured the ‘North’, was being replaced by a new and different pattern of sectoral specialisation a ...
When the Bubbles Burst…
... low inflation may lead to bubbles • Should Monetary Policy “target” bubbles? • Does Monetary Policy “target” bubbles? • Role of Financial Stability ...
... low inflation may lead to bubbles • Should Monetary Policy “target” bubbles? • Does Monetary Policy “target” bubbles? • Role of Financial Stability ...
English - SciELO Colombia
... shocks that result not only in the so called Dutch disease but also in economic volatility. Another characteristic that might reinforce this instability, in some of these economies, is the presence of great proportion of agents that do not have access to capital markets to smooth consumption (non-Ri ...
... shocks that result not only in the so called Dutch disease but also in economic volatility. Another characteristic that might reinforce this instability, in some of these economies, is the presence of great proportion of agents that do not have access to capital markets to smooth consumption (non-Ri ...
Comparative Study on Monetary and Fiscal Policy in the Eurozone
... sovereign debt trends in the EMU it should be also considered that when entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way, i.e. they cease to have control over the currency in which their debt is issued. As a result, financial markets can forc ...
... sovereign debt trends in the EMU it should be also considered that when entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way, i.e. they cease to have control over the currency in which their debt is issued. As a result, financial markets can forc ...
Stage 1 – Desired Results
... 1.1 Explain that the practice of economic decision making is an evaluation process that measures additional benefits versus additional costs. 1.2 Explain why the productive resources of land, labor, and capital are limited. 1.3 Apply the concept that people respond to positive and negative incentive ...
... 1.1 Explain that the practice of economic decision making is an evaluation process that measures additional benefits versus additional costs. 1.2 Explain why the productive resources of land, labor, and capital are limited. 1.3 Apply the concept that people respond to positive and negative incentive ...
NBER WORKING PAPER SERIES ON THE BENEFITS OF DOLLARIZATION WHEN
... 11t is paradoxical that Mundeli's work recognized that these issues were critical for the optimal choice of exchangerate regime (see, for example, his analysis of business cycles driven by currency speculation in Mundell (1960)),but most of the literature that followed his work generally abstracted ...
... 11t is paradoxical that Mundeli's work recognized that these issues were critical for the optimal choice of exchangerate regime (see, for example, his analysis of business cycles driven by currency speculation in Mundell (1960)),but most of the literature that followed his work generally abstracted ...
No Slide Title
... current systems cover limited segment of population Pave the way for a more flexible labor market as the private sector scheme restricts labor mobility ...
... current systems cover limited segment of population Pave the way for a more flexible labor market as the private sector scheme restricts labor mobility ...
Intermediate Macroeconomics
... Coordination failures reveal themselves in losses for some products (those in ES) and higher than normal profits for other products (those in ED). Firms react to these profit differentials to correct the coordination failure. Moving capital and retraining labor takes time! ...
... Coordination failures reveal themselves in losses for some products (those in ES) and higher than normal profits for other products (those in ED). Firms react to these profit differentials to correct the coordination failure. Moving capital and retraining labor takes time! ...
Outsource2Lithuania
... In 2003, the sector of information and other new technologies compounded 7.5 percent of the Lithuanian GDP ...
... In 2003, the sector of information and other new technologies compounded 7.5 percent of the Lithuanian GDP ...
The Green Economy in the G-20, Post
... strategy will require co-ordination across many government ministries and agencies, many of which may oppose it because it reduces their discretionary decision-making power. In addition, although a green development strategy will be of considerable benefit in the long run, in the short run it will c ...
... strategy will require co-ordination across many government ministries and agencies, many of which may oppose it because it reduces their discretionary decision-making power. In addition, although a green development strategy will be of considerable benefit in the long run, in the short run it will c ...
Fiscal and Monetary Policy: Like Cousins
... by the executive branch, in how much each person gains in monetary amounts. This section was taken from an out-of-print volume from the National Bureau of Economic Research: The budget process is the second important determinant [in determining how much each agent in the majority internalizes the co ...
... by the executive branch, in how much each person gains in monetary amounts. This section was taken from an out-of-print volume from the National Bureau of Economic Research: The budget process is the second important determinant [in determining how much each agent in the majority internalizes the co ...
English - African Centre for Statistics
... Chapter IV (paragraph 4.159) under the subheading The household sector and its subsectors (S.14) – It introduces the concept of the informal sector and makes reference to the 15th ICLS – Other than this Annex, there is no methodological recommendation per se on the informal sector in the 1993 SNA ...
... Chapter IV (paragraph 4.159) under the subheading The household sector and its subsectors (S.14) – It introduces the concept of the informal sector and makes reference to the 15th ICLS – Other than this Annex, there is no methodological recommendation per se on the informal sector in the 1993 SNA ...
