... development came a parallel quest for more democracy; according to Crouch and Morley, A central issue is whether a direct correlation can be established between the rate of economic growth and the type of government in power, with the most consistently successful cases being those moving to liberal ...
A Mixed Industrial Structure Magnifies the Importance of Menu Costs∗
... tor which increases welfare according to (ii). The menu costs required for price rigidity may be lower because it is cheaper to expand production by attracting labour from the other sector than to expand aggregate employment. Furthermore, the labour reallocation effect increases real GNP for a given ...
... tor which increases welfare according to (ii). The menu costs required for price rigidity may be lower because it is cheaper to expand production by attracting labour from the other sector than to expand aggregate employment. Furthermore, the labour reallocation effect increases real GNP for a given ...
Aalborg Universitet Globalization and Social Well-being: Li, Xing; Muchie, Mammo
... of the powerful global agencies such as the World Bank and the IMF. These discourses, whether economic, political and sociological, are rooted in a basic paradigm - commonly referred to as the modernization paradigm. Seen from this perspective, development is an evolutionary process; and development ...
... of the powerful global agencies such as the World Bank and the IMF. These discourses, whether economic, political and sociological, are rooted in a basic paradigm - commonly referred to as the modernization paradigm. Seen from this perspective, development is an evolutionary process; and development ...
NBER WORKING PAPER SERIES RECESSION? Michael C. Burda
... 2005. Unification with the former East Germany may have played a role: the resulting increase in government debt could have led consumers to revise their estimates of future wealth downward, depressing consumption, and higher payroll taxes may have increased unemployment (Carlin and ...
... 2005. Unification with the former East Germany may have played a role: the resulting increase in government debt could have led consumers to revise their estimates of future wealth downward, depressing consumption, and higher payroll taxes may have increased unemployment (Carlin and ...
The Financial Crisis - Center on Budget and Policy Priorities
... and 5.4% in the first quarter of 2009. Around that time, many people who are not prone to hysteria talked openly about the prospects of “Great Depression 2.0.” It did not happen, however; and we argue here (as we did in our 2010 paper) that one major reason was the extraordinary policy response from ...
... and 5.4% in the first quarter of 2009. Around that time, many people who are not prone to hysteria talked openly about the prospects of “Great Depression 2.0.” It did not happen, however; and we argue here (as we did in our 2010 paper) that one major reason was the extraordinary policy response from ...
Lecture 5
... This year, Miller's Pizzeria has increased the amount of cheese on each of its pizzas. While pizza might be a silly example, it is a real problem since the quality of many commodities changes over time. A day in the hospital, for instance, is not the same as a day in the hospital 40 years ago This y ...
... This year, Miller's Pizzeria has increased the amount of cheese on each of its pizzas. While pizza might be a silly example, it is a real problem since the quality of many commodities changes over time. A day in the hospital, for instance, is not the same as a day in the hospital 40 years ago This y ...
The State of Working America 12th Edition
... Despite the near-universal acknowledgement of growing income inequality as a fact of recent American economic history, a number of studies have claimed that it has not prevented middle-income families from achieving acceptable income growth since 1979. These studies argue that under a comprehensive ...
... Despite the near-universal acknowledgement of growing income inequality as a fact of recent American economic history, a number of studies have claimed that it has not prevented middle-income families from achieving acceptable income growth since 1979. These studies argue that under a comprehensive ...
- TestbankU
... 2. Nominal GDP represents the value of goods and services produced using current prices. Real GDP measures the value of the same goods and services using some base year prices. It is possible for nominal GDP to be less than real GDP in a given year. Given the definitions of the two variables, this w ...
... 2. Nominal GDP represents the value of goods and services produced using current prices. Real GDP measures the value of the same goods and services using some base year prices. It is possible for nominal GDP to be less than real GDP in a given year. Given the definitions of the two variables, this w ...
Equilibrium Versus the Invisible Hand
... and casual observation suggests that the economy does remain close to equilibrium following the neoclassical definition, because most markets come close to clearing most of the time. Conditions of excess supply or excess demand are so rare (except when caused by government intervention) that they ca ...
... and casual observation suggests that the economy does remain close to equilibrium following the neoclassical definition, because most markets come close to clearing most of the time. Conditions of excess supply or excess demand are so rare (except when caused by government intervention) that they ca ...
Part III A Critique of Self-adjusting Full Employment
... clearing would bring about automatically. At worst, and considerably more likely by this line of argument, intervention by the state will prevent market clearing from generating the optimal result. In this unique and optimal full employment solution, public intervention is characteristically referre ...
... clearing would bring about automatically. At worst, and considerably more likely by this line of argument, intervention by the state will prevent market clearing from generating the optimal result. In this unique and optimal full employment solution, public intervention is characteristically referre ...
Curriculum Units - Township of Union Public Schools
... Appendix: New Jersey Core Curriculum Content Standards ...
... Appendix: New Jersey Core Curriculum Content Standards ...
Some unpleasant properties of log-linearized solutions when the
... equilibrium conditions about a steadystate with a stable price level. Loglinearized NK models require large shocks to generate a binding zero lower bound for the nominal interest rate and the shocks must be even larger if these models are to reproduce the measured declines in output and inflation tha ...
... equilibrium conditions about a steadystate with a stable price level. Loglinearized NK models require large shocks to generate a binding zero lower bound for the nominal interest rate and the shocks must be even larger if these models are to reproduce the measured declines in output and inflation tha ...
LERNER, Abba Ptachya (1903-1982) by Mathew Forstater* Working
... = MC!); in practice, since a free market system never achieves the social optimum due to numerous market imperfections, a socialist economy in which prices are set as if in perfect competition will be more efficient. Two additional papers from this period are worthy of note in that both remained unp ...
... = MC!); in practice, since a free market system never achieves the social optimum due to numerous market imperfections, a socialist economy in which prices are set as if in perfect competition will be more efficient. Two additional papers from this period are worthy of note in that both remained unp ...
GCE in Economics - Edexcel
... quite abstract — use examples that they are able to relate to, such as asking how many times they would visit their local coffee shop per week at different prices of their favourite drink, or how likely they would be to deliver newspapers at different wage rates. A significant number of students fin ...
... quite abstract — use examples that they are able to relate to, such as asking how many times they would visit their local coffee shop per week at different prices of their favourite drink, or how likely they would be to deliver newspapers at different wage rates. A significant number of students fin ...
Impact of Investment in Kenya`s Priority Sectors
... exports, and an inefficient import substitution strategy (Government of Kenya 1997; Maureen Were 2007). The situation was further exacerbated by the collapse of the East African Community in 1977 that served as the traditional market outlet for Kenya’s industry, and the growing inefficiency of publi ...
... exports, and an inefficient import substitution strategy (Government of Kenya 1997; Maureen Were 2007). The situation was further exacerbated by the collapse of the East African Community in 1977 that served as the traditional market outlet for Kenya’s industry, and the growing inefficiency of publi ...
FiMod – a DSGE model for fiscal policy simulations
... mainly have the possibility of increasing taxes and/or cutting public spending. But which taxes should be increased? Which spending components should be cut? All across Europe, countries such as Germany, Greece, Portugal, Spain and others have put forward consolidation plans that include cuts in pub ...
... mainly have the possibility of increasing taxes and/or cutting public spending. But which taxes should be increased? Which spending components should be cut? All across Europe, countries such as Germany, Greece, Portugal, Spain and others have put forward consolidation plans that include cuts in pub ...
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600034 DEPARTMENT OF ECONOMICS Major Core (MC)
... Definition – importance, scope, economics and environment – Theories of optimal use of exhaustible and renewable resources – conservation of resources and bio diversity – material balance model – concept of sustainable development. (12 hours) Unit – II: The basic theory of environmental economics En ...
... Definition – importance, scope, economics and environment – Theories of optimal use of exhaustible and renewable resources – conservation of resources and bio diversity – material balance model – concept of sustainable development. (12 hours) Unit – II: The basic theory of environmental economics En ...
Chapter5Gottheil
... and services in the economy that is not counted in GDP. • Illegal unreported activities may include drug trafficking, money laundering, bribery, prostitution, illegal gambling, fraud and burglary. • Tax avoidance is the main reason why legal activities may go unreported. Swapping services or simply ...
... and services in the economy that is not counted in GDP. • Illegal unreported activities may include drug trafficking, money laundering, bribery, prostitution, illegal gambling, fraud and burglary. • Tax avoidance is the main reason why legal activities may go unreported. Swapping services or simply ...
This PDF is a selection from a published volume from... Research Volume Title: Asset Prices and Monetary Policy
... (1989), collateral constraints are motivated by the presence of private information and limited liability. More recently, Kiyotaki and Moore (1997) build a general equilibrium model in which two categories of agents (borrowers and savers) trade private debt. Heterogeneity is introduced in the form o ...
... (1989), collateral constraints are motivated by the presence of private information and limited liability. More recently, Kiyotaki and Moore (1997) build a general equilibrium model in which two categories of agents (borrowers and savers) trade private debt. Heterogeneity is introduced in the form o ...
The value chain that unites us - Coca
... operations have a supporting effect on upstream as well as on downstream businesses. The upstream local suppliers and producers are more dependent on our production plants' demand of raw materials than the wholesalers and retails which distribute our products. Both the supported upstream and downstre ...
... operations have a supporting effect on upstream as well as on downstream businesses. The upstream local suppliers and producers are more dependent on our production plants' demand of raw materials than the wholesalers and retails which distribute our products. Both the supported upstream and downstre ...
NBER WORKING PAPER SERIES DISCRETIONARY POLICY AND MULTIPLE EQUILIBRIA Robert G. King
... Since the seminal work of Kydland and Prescott (1977), it has been understood that policymaking under discretion can lead to a substantially worse outcome than policymaking under commitment. Many economists believe that discretionary policymaking is important for understanding central issues in mone ...
... Since the seminal work of Kydland and Prescott (1977), it has been understood that policymaking under discretion can lead to a substantially worse outcome than policymaking under commitment. Many economists believe that discretionary policymaking is important for understanding central issues in mone ...