Microsoft Word (Book chapter) - Ulster Institutional Repository
... income of Kazakhstan’s citizens increased threefold compared to 2003 (gross national income per capita is $2,930). Minimum pension payments have reached $70 per month and the average pension has exceeded $95. Public expenditure on healthcare, science and education has increased significantly. These ...
... income of Kazakhstan’s citizens increased threefold compared to 2003 (gross national income per capita is $2,930). Minimum pension payments have reached $70 per month and the average pension has exceeded $95. Public expenditure on healthcare, science and education has increased significantly. These ...
Ch 3
... 6. Government purchases are a measure of the dollar value of goods and services purchased directly by the government. For example, the government buys missiles and tanks, builds roads, and provides services such as air traffic control. All of these activities are part of GDP. Transfer payments are g ...
... 6. Government purchases are a measure of the dollar value of goods and services purchased directly by the government. For example, the government buys missiles and tanks, builds roads, and provides services such as air traffic control. All of these activities are part of GDP. Transfer payments are g ...
University of Toronto Department of Economics Factor Misallocation
... of factors across plants, from contracting less-productive plants to expanding more-productive plants, and from failing plants that exit to entering new plants (see also Foster, Haltiwanger, and Syverson, 2008). Second, it is widely recognized that a number of policies and institutions prevalent in ...
... of factors across plants, from contracting less-productive plants to expanding more-productive plants, and from failing plants that exit to entering new plants (see also Foster, Haltiwanger, and Syverson, 2008). Second, it is widely recognized that a number of policies and institutions prevalent in ...
Textbooks and Pure Fiscal Policy: The Neglect of Monetary Basics
... A typical policy scenario in these textbooks has the government debtfinancing an increase in its government spending, leaving the money supply unchanged. An unchanged money supply classifies the fiscal action as “pure.” Given that the IS-LM diagrammatics have no shift in the LM schedule occurring, e ...
... A typical policy scenario in these textbooks has the government debtfinancing an increase in its government spending, leaving the money supply unchanged. An unchanged money supply classifies the fiscal action as “pure.” Given that the IS-LM diagrammatics have no shift in the LM schedule occurring, e ...
A survey of the world economy September 16th 2006
... Of course there is more than one respectable way of doing the sums. So although measured at purchasing-power parity (which takes account of lower prices in poorer countries) the emerging economies now make up over half of world GDP, at market exchange rates their share is still less than 30%. But ev ...
... Of course there is more than one respectable way of doing the sums. So although measured at purchasing-power parity (which takes account of lower prices in poorer countries) the emerging economies now make up over half of world GDP, at market exchange rates their share is still less than 30%. But ev ...
The Czech National Bank`s Role Since the Global Crisis
... overheated Czech economy in 2008. We can conclude this part of the paper by stating that the Czech economy was in a relatively good shape on the eve of the global financial and economic crisis and that this was partly a consequence of appropriate monetary and other CNB’s policies. Both private and p ...
... overheated Czech economy in 2008. We can conclude this part of the paper by stating that the Czech economy was in a relatively good shape on the eve of the global financial and economic crisis and that this was partly a consequence of appropriate monetary and other CNB’s policies. Both private and p ...
Monetary and Fiscal Policy in Today`s Endogenous Money World
... macroeconomic effects. On this basis, activist government actions are then justified to eliminate or limit some of these effects. In terms of the mechanics of the model, price and wage stickiness plays a key role in relating the monetary policy rule to the IS-type curve. The central bank via changes ...
... macroeconomic effects. On this basis, activist government actions are then justified to eliminate or limit some of these effects. In terms of the mechanics of the model, price and wage stickiness plays a key role in relating the monetary policy rule to the IS-type curve. The central bank via changes ...
How Heterodox Is the Heterodoxy of the Monetary
... immediate link (for example, of convertibility) with any commodity that could be produced through human work. This at least is the position which the founders of neoclassical monetary theory explicitly adopted (including certainly Carl Menger, Alfred Marshall, Ludwig von Mises, Arthur Pigou and Char ...
... immediate link (for example, of convertibility) with any commodity that could be produced through human work. This at least is the position which the founders of neoclassical monetary theory explicitly adopted (including certainly Carl Menger, Alfred Marshall, Ludwig von Mises, Arthur Pigou and Char ...
Better Living Through Meteorology
... Better Living Through Meteorology Mark S. Roulston Oxford University and London School of Economics ...
... Better Living Through Meteorology Mark S. Roulston Oxford University and London School of Economics ...
GDP
... The most widely reported measure of the economy’s output is gross domestic product (GDP) which is the market value of the final goods and services produced in the economy within some time period (usually one year or one quarter). ...
... The most widely reported measure of the economy’s output is gross domestic product (GDP) which is the market value of the final goods and services produced in the economy within some time period (usually one year or one quarter). ...
Booms and Systemic Banking Crises ∗ Fr´ ed´
... financial shocks (e.g. to banks’ net worth), whose size ultimately determines the size of the crises. In our case, in contrast, shocks play only a secondary role because crises are related to whether or not financial imbalances (e.g. credit boom, ballooning bank balance sheets) have built up in the ...
... financial shocks (e.g. to banks’ net worth), whose size ultimately determines the size of the crises. In our case, in contrast, shocks play only a secondary role because crises are related to whether or not financial imbalances (e.g. credit boom, ballooning bank balance sheets) have built up in the ...
debt and macroeconomic stability
... sovereign solvency can threaten to unleash runs on the banking system. Balance sheet vulnerabilities can also lead to self-fulfilling runs or sudden stops, when foreign capital flows dry up. Moreover, when corporate and household debt is high, a shock can induce forced cuts in investment, employmen ...
... sovereign solvency can threaten to unleash runs on the banking system. Balance sheet vulnerabilities can also lead to self-fulfilling runs or sudden stops, when foreign capital flows dry up. Moreover, when corporate and household debt is high, a shock can induce forced cuts in investment, employmen ...
Christopher A. Pissarides - Prize Lecture
... Minister Thatcher’s restrictive monetary and fiscal policies, took place at more or less constant vacancies. This is shown in Figure 4. The underlying reasons must have been related to increased frictions in the labour market. These could be associated with increased mismatch, as the transformation ...
... Minister Thatcher’s restrictive monetary and fiscal policies, took place at more or less constant vacancies. This is shown in Figure 4. The underlying reasons must have been related to increased frictions in the labour market. These could be associated with increased mismatch, as the transformation ...
The characteristics of a monetary economy: a Keynes
... different arguments. In the General Theory the presence of a fiat money is the necessary element that justifies the existence of involuntary unemployment equilibria. Keynes defines the essential properties of fiat money which are: a) zero elasticity of production; b) zero elasticity of substitution ...
... different arguments. In the General Theory the presence of a fiat money is the necessary element that justifies the existence of involuntary unemployment equilibria. Keynes defines the essential properties of fiat money which are: a) zero elasticity of production; b) zero elasticity of substitution ...
Real Exchange Rate Undervaluation: Static Losses, Dynamic Gains
... Note that our measure of capital K does not only account for physical capital but also for human capital such as education or on-the-job training, for organizational capital and for all other factors that can be accumulated and yield learning-by-investing externalities. In the remainder of this sect ...
... Note that our measure of capital K does not only account for physical capital but also for human capital such as education or on-the-job training, for organizational capital and for all other factors that can be accumulated and yield learning-by-investing externalities. In the remainder of this sect ...
View/Open
... Previous research on wildlife-associated recreation has used non-market valuation methods (Bockstael and McConnell, 1981; Keith, Fawson, and Chang, 1996) or I-O analysis (English and Bergstrom, 1994; Munn et al., 2010). Both of these methods have limitations; non-market valuation methods do not take ...
... Previous research on wildlife-associated recreation has used non-market valuation methods (Bockstael and McConnell, 1981; Keith, Fawson, and Chang, 1996) or I-O analysis (English and Bergstrom, 1994; Munn et al., 2010). Both of these methods have limitations; non-market valuation methods do not take ...
Price Level - Dpatterson
... were fully flexible Given this, which way do you think our long run aggregate supply curve has been shifting? ...
... were fully flexible Given this, which way do you think our long run aggregate supply curve has been shifting? ...
Blue Growth in the Middle Kingdom: An analysis of Chinaâ•Žs Ocean
... component of that engine. Following the reform of economic trade policy, especially in the period 2001-2010, China’s ocean economy has been growing rapidly, in line with national GDP. Also, as the second largest economy in the world, China is paying more and more attention to the sustainable develop ...
... component of that engine. Following the reform of economic trade policy, especially in the period 2001-2010, China’s ocean economy has been growing rapidly, in line with national GDP. Also, as the second largest economy in the world, China is paying more and more attention to the sustainable develop ...
Chapter 4: Theories of Economic Growth
... organization, government, and education--are the greatest amplifiers of productivity. Yet economists have relatively little to say about what governs technological progress. Why did we see better technology raise living standards by 2 percent annually a generation ago, but by less than 1 percent ann ...
... organization, government, and education--are the greatest amplifiers of productivity. Yet economists have relatively little to say about what governs technological progress. Why did we see better technology raise living standards by 2 percent annually a generation ago, but by less than 1 percent ann ...
Inflation - Annenberg Learner
... undermines purchasing power and eats away at savings. It’s hard to plan for inflation, and when it spreads rapidly many are unprotected...particularly those like these people on fixed incomes. But, as destructive as inflation can be, there are those who benefit from unexpected rising prices. Just wh ...
... undermines purchasing power and eats away at savings. It’s hard to plan for inflation, and when it spreads rapidly many are unprotected...particularly those like these people on fixed incomes. But, as destructive as inflation can be, there are those who benefit from unexpected rising prices. Just wh ...
lecture notes
... point and can be delayed until a later consideration of the costs of production. C. The supply curve: 1. The graph of supply schedule appears in Figure 3-4, which graphs data from Table 3-6. 2. It shows direct relationship in upward sloping curve. D. Determinants of supply: 1. A change in any of the ...
... point and can be delayed until a later consideration of the costs of production. C. The supply curve: 1. The graph of supply schedule appears in Figure 3-4, which graphs data from Table 3-6. 2. It shows direct relationship in upward sloping curve. D. Determinants of supply: 1. A change in any of the ...