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... on the theory of the …rm, regarding the make-or-buy outcome as an equilibrium phenomenon. Our paper develops a preference-based theory of outsourcing in which outsourcing is bene…cial because it mitigates the information problem with respect to the identi…cation of local tastes for the manufactured ...
... on the theory of the …rm, regarding the make-or-buy outcome as an equilibrium phenomenon. Our paper develops a preference-based theory of outsourcing in which outsourcing is bene…cial because it mitigates the information problem with respect to the identi…cation of local tastes for the manufactured ...
Re-Targeting the Fed
... rates, like quantitative easing, but central banks are often reluctant to use such non-conventional policy tools. The second problem is so-called “wage stickiness.” In a competitive market economy, some wages need to fall relative to others. In an economy with mild inflation (which causes all wages ...
... rates, like quantitative easing, but central banks are often reluctant to use such non-conventional policy tools. The second problem is so-called “wage stickiness.” In a competitive market economy, some wages need to fall relative to others. In an economy with mild inflation (which causes all wages ...
42nd Inaugural Lecture - University of Port Harcourt
... manufacturing firms started to reduce their workforce. In the public sector, embargo was placed on employment. More importantly with the simultaneous rapid expansion in the educational sector, new entrants into the labour market increased beyond the absorptive capacity of the economy (Central Bank o ...
... manufacturing firms started to reduce their workforce. In the public sector, embargo was placed on employment. More importantly with the simultaneous rapid expansion in the educational sector, new entrants into the labour market increased beyond the absorptive capacity of the economy (Central Bank o ...
... estimates showed a .2% and .3% decrease in acreage from 2005.16 The timber industry provides three primary purposes to the state: revenue, jobs, and energy. The following are findings from the United States Forest Service from 2005:17 • Vermont’s Forestry industry contributed 1 billion dollars to th ...
`Turning Points` with Leading Indicators: `Real Time`
... The conclusion about the growth of the overall economy was held by ISM for ten months up to November 3, 2008 (a month and a half after the Lehman Brothers bankruptcy!). At that moment, ISM mentioned a recession for the first time: “…*T+he PMI *for October 2008+ indicates contraction in both the over ...
... The conclusion about the growth of the overall economy was held by ISM for ten months up to November 3, 2008 (a month and a half after the Lehman Brothers bankruptcy!). At that moment, ISM mentioned a recession for the first time: “…*T+he PMI *for October 2008+ indicates contraction in both the over ...
Destructive competition: Oil and rent seeking in Iran
... is that resource rents tend to reduce the size of the tradeable sector of the economy. If technological progress is faster in this sector than in the nontradeable sector, these rents may harm growth. This is generally referred to as the Dutch disease. A third hypothesis is that rents from natural re ...
... is that resource rents tend to reduce the size of the tradeable sector of the economy. If technological progress is faster in this sector than in the nontradeable sector, these rents may harm growth. This is generally referred to as the Dutch disease. A third hypothesis is that rents from natural re ...
Does slack influence public and private labor market interactions?
... employment and public wages as a fiscal consolidation instrument, which is the one to be preferred from the point of view of their GDP effects? We study the cases of Spain and the euro area taken as a whole (euro area aggregate), to cover two cases with significantly different levels of unemployment ...
... employment and public wages as a fiscal consolidation instrument, which is the one to be preferred from the point of view of their GDP effects? We study the cases of Spain and the euro area taken as a whole (euro area aggregate), to cover two cases with significantly different levels of unemployment ...
St. Vincent and the Grenadines Private Sector Assessment Report
... Whilst efforts have been taken to verify the accuracy of this information, neither the Inter-American Development Bank nor any sponsor or provider of financing of this information (nor their affiliates) can accept any responsibility or liability for reliance by any person on this information, opinio ...
... Whilst efforts have been taken to verify the accuracy of this information, neither the Inter-American Development Bank nor any sponsor or provider of financing of this information (nor their affiliates) can accept any responsibility or liability for reliance by any person on this information, opinio ...
Introductory Macroeconomics - General Guide To Personal and
... of the supply and demand of fiat money (coins and bank notes). However, things are more complicated than this because other financial assets, such as government bonds or corporate equity, are substitutes for money. So, in order to model the money market we must model their effect on it. Also, money ...
... of the supply and demand of fiat money (coins and bank notes). However, things are more complicated than this because other financial assets, such as government bonds or corporate equity, are substitutes for money. So, in order to model the money market we must model their effect on it. Also, money ...
Why Does Employment in All Major Sectors Move Together over the
... worker. Taken together, these two facts imply that the extensive margin is the critical margin in understanding the positive sectoral correlation of labor input. Motivated by this observation, I construct a two sector business cycle model that explicitly characterizes the behavior of sectoral employ ...
... worker. Taken together, these two facts imply that the extensive margin is the critical margin in understanding the positive sectoral correlation of labor input. Motivated by this observation, I construct a two sector business cycle model that explicitly characterizes the behavior of sectoral employ ...
development strategies and poverty reduction
... Botswana’s strategy towards poverty was generally to increase growth through a number of initiatives that included programs that increase the participation of the private sector. The second set of programmes were meant to enhance productivity and employment creation in the rural areas. The third set ...
... Botswana’s strategy towards poverty was generally to increase growth through a number of initiatives that included programs that increase the participation of the private sector. The second set of programmes were meant to enhance productivity and employment creation in the rural areas. The third set ...
The Natural Resource Curse and Fiscal Decentralization
... additional empirical evidence of this phenomenon as well as various potential explanations for its occurrence. Among these explanations, the literature has emphasized political factors, corruption, underdeveloped legal and financial systems, Dutch disease mechanisms, or human-capital inhibiting inst ...
... additional empirical evidence of this phenomenon as well as various potential explanations for its occurrence. Among these explanations, the literature has emphasized political factors, corruption, underdeveloped legal and financial systems, Dutch disease mechanisms, or human-capital inhibiting inst ...
Investment Hangover and the Great Recession
... the liquidity trap or exogenous money supply, restricts the e¢ cient reallocation of resources between sectors. A large macroeconomics literature investigates the role of reallocation shocks relative to aggregate activity shocks in generating unemployment (see, for instance, Lilien (1982), Abraham a ...
... the liquidity trap or exogenous money supply, restricts the e¢ cient reallocation of resources between sectors. A large macroeconomics literature investigates the role of reallocation shocks relative to aggregate activity shocks in generating unemployment (see, for instance, Lilien (1982), Abraham a ...
Handbook of Macroeconomics
... manufacturing establishments is very large and is continuously evolving, and Greenwood and Yorokoglu (1997) and Manuelli and Seshadri (2014), who analyze the diffusion of new technologies and their long-run economic effects. The analysis also connects with studies of the long-run consequences of gov ...
... manufacturing establishments is very large and is continuously evolving, and Greenwood and Yorokoglu (1997) and Manuelli and Seshadri (2014), who analyze the diffusion of new technologies and their long-run economic effects. The analysis also connects with studies of the long-run consequences of gov ...
Household Debt and Fiscal Multipliers by J
... But many households not only have assets, but also liabilities, so their consumption decisions are affected by the evolution of their net worth, including real estate and private debt. In this paper we study the size of fiscal multipliers, paying special attention to the main determinants of consump ...
... But many households not only have assets, but also liabilities, so their consumption decisions are affected by the evolution of their net worth, including real estate and private debt. In this paper we study the size of fiscal multipliers, paying special attention to the main determinants of consump ...
Costs and Benefits of Dollarization
... Another implication of full dollarization is the restriction imposed on the monetary authority’s role as the lender of last resort to the domestic banking system. As lenders of last resort, central banks provide loans to banks facing liquidity problems by assuring the availability of deposits in a b ...
... Another implication of full dollarization is the restriction imposed on the monetary authority’s role as the lender of last resort to the domestic banking system. As lenders of last resort, central banks provide loans to banks facing liquidity problems by assuring the availability of deposits in a b ...
the economic value of marine-related resources in new brunswick
... The principal aims of this project were to estimate how important the marine sector is in the economy of New Brunswick, and to refine a methodology by which this could be done more easily in future. The marine sector is made up of those private industries and government departments that either depen ...
... The principal aims of this project were to estimate how important the marine sector is in the economy of New Brunswick, and to refine a methodology by which this could be done more easily in future. The marine sector is made up of those private industries and government departments that either depen ...
The Financial Express 1st May 2012
... exceeded 9 per cent per annum on three occasions during last decade. These estimates appeared to me quite unrealistic. To my mind, there are certain sectors like agriculture, mining, electricity etc, which are not at all affected by hartal. I would have thought the hartal scars are more evident on s ...
... exceeded 9 per cent per annum on three occasions during last decade. These estimates appeared to me quite unrealistic. To my mind, there are certain sectors like agriculture, mining, electricity etc, which are not at all affected by hartal. I would have thought the hartal scars are more evident on s ...
sample - Test Bank Corp
... Learning Outcome: Compare and contrast different economic systems Skill: Concept 14) Gross domestic product (GDP) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located. Answer: FALSE Explanation: ...
... Learning Outcome: Compare and contrast different economic systems Skill: Concept 14) Gross domestic product (GDP) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located. Answer: FALSE Explanation: ...
Endogenous Government Spending and Fiscal Stimulus
... moderate recession, since the aggressive fiscal expansion is usually given under the exceptional circumstances, but not for more normal fluctuations. Therefore, both the timing and size of the fiscal expansion depend on the current state of the economy, it would be misleading to talk about multiplie ...
... moderate recession, since the aggressive fiscal expansion is usually given under the exceptional circumstances, but not for more normal fluctuations. Therefore, both the timing and size of the fiscal expansion depend on the current state of the economy, it would be misleading to talk about multiplie ...
Endogenous Wage Indexation and Aggregate
... planner’s problem. However, we show that, at the margin, a worker has incentives to deviate from the social planner’s solution, and since all workers act similarly, the decentralized equilibrium ends up in a coordination failure. We argue that the decentralised equilibrium better explains the presum ...
... planner’s problem. However, we show that, at the margin, a worker has incentives to deviate from the social planner’s solution, and since all workers act similarly, the decentralized equilibrium ends up in a coordination failure. We argue that the decentralised equilibrium better explains the presum ...
DOCUMENTOS DE TRABAJO Serie Economía Nº 272
... observation is that there is substantial evidence that countries or regions with large governments display business cycle fluctuations which are less volatile, as shown in Galı́ (1994), Rodrick (1998) and Fatás and Mihov (2001). The second motivating observation, which is documented by Clark and Su ...
... observation is that there is substantial evidence that countries or regions with large governments display business cycle fluctuations which are less volatile, as shown in Galı́ (1994), Rodrick (1998) and Fatás and Mihov (2001). The second motivating observation, which is documented by Clark and Su ...
Cayman Islands Financial Services and Related Industries
... Direct impacts – the output created and jobs supported by firms related to financial services. For the purposes of this study this includes a cluster of inter-related sectors. These sectors include banking, insurance, legal services, estate & trust, company management, fund administration, accountan ...
... Direct impacts – the output created and jobs supported by firms related to financial services. For the purposes of this study this includes a cluster of inter-related sectors. These sectors include banking, insurance, legal services, estate & trust, company management, fund administration, accountan ...
Synthetic Commodity Money
... According to the durable goods literature, two common means for avoiding this outcome are (1) resort to a money-back guarantee and (2) public destruction of the engraved plates used to strike the lithographs. In the first option, purchasers are promised the return of their purchase price in the even ...
... According to the durable goods literature, two common means for avoiding this outcome are (1) resort to a money-back guarantee and (2) public destruction of the engraved plates used to strike the lithographs. In the first option, purchasers are promised the return of their purchase price in the even ...