How productive are capital investments in Europe?
... applied to a cross-section of both developed and less developed countries, they have not extensively been studied for economies within the European Union. The current paper tries to bridge that gap. We have organised the remainder of the paper as follows. In the next section we will review some meth ...
... applied to a cross-section of both developed and less developed countries, they have not extensively been studied for economies within the European Union. The current paper tries to bridge that gap. We have organised the remainder of the paper as follows. In the next section we will review some meth ...
Impact of Foreign Direct Investment on Income Distribution in Malaysia: Social Accounting Matrix Framework:
... questions, data would be required that would enable a comprehensive analysis of these aspects of the economic process. The existing data framework such as the conventional national accounts and input-output tables, however, provided only part of the data required for such kind of analysis. Among th ...
... questions, data would be required that would enable a comprehensive analysis of these aspects of the economic process. The existing data framework such as the conventional national accounts and input-output tables, however, provided only part of the data required for such kind of analysis. Among th ...
elasticity - Together We Pass
... – In elastic section of demand curve – a price decrease leads to an increase in total revenue – In inelastic section of demand curve – a price decrease leads to a decrease in total revenue ...
... – In elastic section of demand curve – a price decrease leads to an increase in total revenue – In inelastic section of demand curve – a price decrease leads to a decrease in total revenue ...
Deaton_Angus_CERGE Prague May 2015
... Income used in calculating poverty has risen much less rapidly than GDP per capita Increasing income inequality in part Definitional differences: many things in national income that are not in household incomes ...
... Income used in calculating poverty has risen much less rapidly than GDP per capita Increasing income inequality in part Definitional differences: many things in national income that are not in household incomes ...
Research Methods Applied to Sustainable Diversity
... Completeness. Consumer can compare any two bundles of goods and services and decide which one is preferred or whether he (she) is indifferent between them. Transitivity (“rationality”). If a consumer prefers bundle x over y and y over z, then x is preferred over z. More is better(aka non-satiation). ...
... Completeness. Consumer can compare any two bundles of goods and services and decide which one is preferred or whether he (she) is indifferent between them. Transitivity (“rationality”). If a consumer prefers bundle x over y and y over z, then x is preferred over z. More is better(aka non-satiation). ...
19.2 Determinants of Economic Growth
... Many separate explanations of economic growth have been proposed, but none of them, by themselves, can completely explain economic growth. However, each of the explanations may be part of a more complicated reality. Economic growth is a complex process involving many important factors, no one of whi ...
... Many separate explanations of economic growth have been proposed, but none of them, by themselves, can completely explain economic growth. However, each of the explanations may be part of a more complicated reality. Economic growth is a complex process involving many important factors, no one of whi ...
Economic Globalization, Mercantilism and Economic
... Then, how to introduce mercantilism? We review the literature on mercantilism at …rst. It will be appropriate to divide the theoretical literature into two parts roughly. Before 1960s, almost all great economists ever worked on mercantilism, such as Adam Smith, John Maynard Keynes, Joseph Schumpter ...
... Then, how to introduce mercantilism? We review the literature on mercantilism at …rst. It will be appropriate to divide the theoretical literature into two parts roughly. Before 1960s, almost all great economists ever worked on mercantilism, such as Adam Smith, John Maynard Keynes, Joseph Schumpter ...
Chapter Eight
... Slutsky’s Effects for Inferior Goods The pure substitution effect is as for a normal good. But, the income effect is in the opposite direction. (x1’’’,x2’’’) ...
... Slutsky’s Effects for Inferior Goods The pure substitution effect is as for a normal good. But, the income effect is in the opposite direction. (x1’’’,x2’’’) ...
negative externalities as the engine of growth in an evolutionary
... In this paper we present a simple growth model which has two original features: the strategic context considered, which is an evolutionary game, and the growth mechanism described, in which growth is caused by negative externalities. The emphasis in this growth mechanism is evidently different from ...
... In this paper we present a simple growth model which has two original features: the strategic context considered, which is an evolutionary game, and the growth mechanism described, in which growth is caused by negative externalities. The emphasis in this growth mechanism is evidently different from ...
Main proponent
... • Coexistence of a capital intensive primary sector and of a labour intensive secondary sector. Segmented labour market. Workers in second and or in low-productivity be laid off at any time. They became the means of adjustment during cyclical downturns. Experience of labour importing countries of Eu ...
... • Coexistence of a capital intensive primary sector and of a labour intensive secondary sector. Segmented labour market. Workers in second and or in low-productivity be laid off at any time. They became the means of adjustment during cyclical downturns. Experience of labour importing countries of Eu ...
Emissions Trading in the U.S.: Status and Trends
... The Economic Case for Offsets Low-cost emission reductions from sources outside cap are substituted for higher-cost reductions inside cap The broader the scope, the more low-cost reductions may be available “what” flexibility = types of sources/ gases “where” flexibility = geographic scope ...
... The Economic Case for Offsets Low-cost emission reductions from sources outside cap are substituted for higher-cost reductions inside cap The broader the scope, the more low-cost reductions may be available “what” flexibility = types of sources/ gases “where” flexibility = geographic scope ...
Is Declining Productivity Inevitable?
... for human capital is H_ t sH Yt , where H0 :ho L0 is given, and where sH is the share of output used to produce human capital. Although, this formulation appears to be standard, it conceals an important congestion effect. This is evident if we use the de®nition of the human capital stock, Ht ht ...
... for human capital is H_ t sH Yt , where H0 :ho L0 is given, and where sH is the share of output used to produce human capital. Although, this formulation appears to be standard, it conceals an important congestion effect. This is evident if we use the de®nition of the human capital stock, Ht ht ...
Chapter 5 - Nomad Press
... Suppose Ford can reduce pollution in its cars very cheaply, while GM has very high costs of reducing pollution. If we want to achieve a particular level of pollution-reduction, it would be efficient to ask Ford to reduce pollution more than GM. But this doesn’t seem fair to Ford; why should GM be he ...
... Suppose Ford can reduce pollution in its cars very cheaply, while GM has very high costs of reducing pollution. If we want to achieve a particular level of pollution-reduction, it would be efficient to ask Ford to reduce pollution more than GM. But this doesn’t seem fair to Ford; why should GM be he ...
of globalization that the Pro needs to defend. This is significant
... of globalization on poverty in a broad sense But, that said, it is virtually impossible to find cases of poor countries that were able to grow over long periods of timewithout opening up to trade. And we have no evidence that trade leads to increases in poverty and declines in growth. Specifically, ...
... of globalization on poverty in a broad sense But, that said, it is virtually impossible to find cases of poor countries that were able to grow over long periods of timewithout opening up to trade. And we have no evidence that trade leads to increases in poverty and declines in growth. Specifically, ...
full text pdf
... There are opinions that economic growth theory, in the true sense of the word, emerged in the mid-twentieth century, identifying the category of technological change as a key factor of economic growth of countries (Solow, 1956, 1957). Neoclassicists were the first to unambiguously recognise and anal ...
... There are opinions that economic growth theory, in the true sense of the word, emerged in the mid-twentieth century, identifying the category of technological change as a key factor of economic growth of countries (Solow, 1956, 1957). Neoclassicists were the first to unambiguously recognise and anal ...
central and southeast european post
... following the liberal prescriptions of the Washington consensus to become open market economies. During the first half of 2000s, the Baltic states lived through their golden age of GDP growth, which was nevertheless coupled with a build-up of significant macroeconomic imbalances2. The economies were ...
... following the liberal prescriptions of the Washington consensus to become open market economies. During the first half of 2000s, the Baltic states lived through their golden age of GDP growth, which was nevertheless coupled with a build-up of significant macroeconomic imbalances2. The economies were ...
Slide 1
... • Supply and Demand models show the behavior of a competitive market • The five elements of the model are: – The demand curve – The supply curve – The set of factors that cause the demand curve to shift and the set of factors that cause the supply curve to shift – The market equilibrium (includes t ...
... • Supply and Demand models show the behavior of a competitive market • The five elements of the model are: – The demand curve – The supply curve – The set of factors that cause the demand curve to shift and the set of factors that cause the supply curve to shift – The market equilibrium (includes t ...
The Myth of Expansionary Austerity
... and lack of uncertainty, are rarely met in the real world. The effects of liquidity constraints and uncertainty on the Ricardian behaviour (and by implication on the expansionary austerity hypothesis) are discussed below: 2.1. Liquidity constraints. It is assumed that individuals are able to borrow ...
... and lack of uncertainty, are rarely met in the real world. The effects of liquidity constraints and uncertainty on the Ricardian behaviour (and by implication on the expansionary austerity hypothesis) are discussed below: 2.1. Liquidity constraints. It is assumed that individuals are able to borrow ...
Chapter 9
... Encourage Research and Development Everyone can use the fruits of basic research and development efforts. ...
... Encourage Research and Development Everyone can use the fruits of basic research and development efforts. ...
Atanu Dey - Econ171 Economic Development 2011
... ◦ Poor people cannot save at the same rate as those who are rich ◦ Distribution of income – and not just per capita income – affects the saving rate ...
... ◦ Poor people cannot save at the same rate as those who are rich ◦ Distribution of income – and not just per capita income – affects the saving rate ...
1 Does Inequality Erode Social Trust? Results
... somehow cheating the system, and thus that people generally cannot be trusted. Similarly, in periods of high income inequality, people who are relatively well-off might be more wary of resentment, and therefore dishonest behavior, on the part of the poor. In both of these scenarios, there would be p ...
... somehow cheating the system, and thus that people generally cannot be trusted. Similarly, in periods of high income inequality, people who are relatively well-off might be more wary of resentment, and therefore dishonest behavior, on the part of the poor. In both of these scenarios, there would be p ...
Scarcity, Opportunity cost and PPC
... A. individuals that sacrifice their own self-interest. B. regulation of the invisible hand. C. individuals seeking out opportunities that involve no risk. D. maximizing equity. E. incentives built into a market economy. ...
... A. individuals that sacrifice their own self-interest. B. regulation of the invisible hand. C. individuals seeking out opportunities that involve no risk. D. maximizing equity. E. incentives built into a market economy. ...
Socialism, growth and theory
... 1980s they lagged substantially behind in terms of per capita GDP. This would be consistent with studies finding that, when physical capital/ human capital ratio grows, per capita GDP growth decreases (e.g. Erk, Altan Cabuk, Ates 1998; Duczynski 2002; 2003). These different views are less surprisin ...
... 1980s they lagged substantially behind in terms of per capita GDP. This would be consistent with studies finding that, when physical capital/ human capital ratio grows, per capita GDP growth decreases (e.g. Erk, Altan Cabuk, Ates 1998; Duczynski 2002; 2003). These different views are less surprisin ...
Notes and Homework - Unit 2 Packet 4 of 5
... the ‘Gentle Giant’. The rollercoaster costs $6 to ride. The operator of the ride must pay $200 per day for the ride rental and $65 per day for a safety inspection. If you want to make a profit of at least $1000 each day, what is the minimum number of people that must ride the rollercoaster to make t ...
... the ‘Gentle Giant’. The rollercoaster costs $6 to ride. The operator of the ride must pay $200 per day for the ride rental and $65 per day for a safety inspection. If you want to make a profit of at least $1000 each day, what is the minimum number of people that must ride the rollercoaster to make t ...
Conditional Convergence and the Solow Model: an Empirical Study
... The figure above shows that economic growth tends to be a good tool for escaping from poverty for a country. However, what determines growth? This is one of the most important questions in economics and one that has been plaguing many economists for a long time. Another important observation is that ...
... The figure above shows that economic growth tends to be a good tool for escaping from poverty for a country. However, what determines growth? This is one of the most important questions in economics and one that has been plaguing many economists for a long time. Another important observation is that ...
Kuznets curve
In economics, a Kuznets curve graphs the hypothesis that as an economy develops, market forces first increase and then decrease economic inequality. The hypothesis was first advanced by economist Simon Kuznets in the 1950s and '60s.One explanation of such a progression suggests that early in development investment opportunities for those who have money multiply, while an influx of cheap rural labor to the cities holds down wages. Whereas in mature economies, human capital accrual, or an estimate of cost that has been incurred but not yet paid, takes the place of physical capital accrual as the main source of growth; and inequality slows growth by lowering education levels because poorer, disadvantaged people lack finance for their education in imperfect credit-markets.The Kuznets curve implies that as a nation undergoes industrialization – and especially the mechanization of agriculture – the center of the nation’s economy will shift to the cities. As internal migration by farmers looking for better-paying jobs in urban hubs causes a significant rural-urban inequality gap (the owners of firms would be profiting, while laborers from those industries would see their incomes rise at a much slower rate and agricultural workers would possibly see their incomes decrease), rural populations decrease as urban populations increase. Inequality is then expected to decrease when a certain level of average income is reached and the processes of industrialization – democratization and the rise of the welfare state – allow for the trickle-down of the benefits from rapid growth, and increase the per-capita income. Kuznets believed that inequality would follow an inverted “U” shape as it rises and then falls again with the increase of income per-capita.Kuznets curve diagrams show an inverted U curve, although variables along the axes are often mixed and matched, with inequality or the Gini coefficient on the Y axis and economic development, time or per-capita incomes on the X axis.Since 1991 the environmental Kuznets curve (EKC) has become a standard feature in the technical literature of environmental policy, though its application there has been strongly contested.