CH 8 - Cameron University
... where A is the amount of output for each unit of capital (A is exogenous & constant) ...
... where A is the amount of output for each unit of capital (A is exogenous & constant) ...
Chapter 1
... Since 1820, the United States has had a lower growth rate than Japan. The annual growth rate of the United States over this period was about 1.6 percent. Japan, on the other hand, experienced annual growth rates of about 1.9 percent. This may seem like a small difference, but in 1820, per capita inc ...
... Since 1820, the United States has had a lower growth rate than Japan. The annual growth rate of the United States over this period was about 1.6 percent. Japan, on the other hand, experienced annual growth rates of about 1.9 percent. This may seem like a small difference, but in 1820, per capita inc ...
CAUSALITY RELATIONSHIP BETWEEN FINANCIAL
... the years of 1870 and 1929 and concluded that fi nancial development was the main force which induced a rapid industrial transformation in the specified group of countries on the eve of the Great Depression. The fi nancial development in the USA during the 19th century was the key factor of the economi ...
... the years of 1870 and 1929 and concluded that fi nancial development was the main force which induced a rapid industrial transformation in the specified group of countries on the eve of the Great Depression. The fi nancial development in the USA during the 19th century was the key factor of the economi ...
View/Open
... key to successful financial development. The variation in causality between financial development and economic growth detected in time-series studies suggests that there are important differences in the way in which financial development influences economic growth across countries. Arestis and Demet ...
... key to successful financial development. The variation in causality between financial development and economic growth detected in time-series studies suggests that there are important differences in the way in which financial development influences economic growth across countries. Arestis and Demet ...
economic growth
... guide. The first statement in each “common error” below is incorrect. Each incorrect statement is followed by a corrected version and an explanation. 1. Labor productive increase when more output is produced per dollar of wages. WRONG! Labor productivity increases when more units of product are prod ...
... guide. The first statement in each “common error” below is incorrect. Each incorrect statement is followed by a corrected version and an explanation. 1. Labor productive increase when more output is produced per dollar of wages. WRONG! Labor productivity increases when more units of product are prod ...
Impact of macroeconomic factors on economic growth in Ghana: A
... term growth in the sample of African countries over the study period were-investment, external debt, population growth, and the macroeconomic environment. Ghura and Hadjimicheal (1996) investigated long run growth in sub-Saharan Africa over the period 1981–1992. Using feasible generalized least squa ...
... term growth in the sample of African countries over the study period were-investment, external debt, population growth, and the macroeconomic environment. Ghura and Hadjimicheal (1996) investigated long run growth in sub-Saharan Africa over the period 1981–1992. Using feasible generalized least squa ...
Comparing the monetary transmission mechanism in France
... and fully reflected in changes in market interest rates in the United Kingdom, less so in Germany, and more slowly and incompletely in France. A simple statistical analysis of the past relationships between different interest rates gives a similar result. But estimates of this sort often fail to ide ...
... and fully reflected in changes in market interest rates in the United Kingdom, less so in Germany, and more slowly and incompletely in France. A simple statistical analysis of the past relationships between different interest rates gives a similar result. But estimates of this sort often fail to ide ...
The short and medium term impacts of rises in staple food prices
... Arguments for these policies are strengthened by consideration of (a) the detrimental effects of food price volatility and (b) the long term effects of high food prices – on the welfare and productive potential of neo-natals and young children affected by malnutrition and on processes of wider econo ...
... Arguments for these policies are strengthened by consideration of (a) the detrimental effects of food price volatility and (b) the long term effects of high food prices – on the welfare and productive potential of neo-natals and young children affected by malnutrition and on processes of wider econo ...
the rise and fall of technology and the business cycle
... long-run growth have been aware that long-run economic growth would grind to a halt without continuous technological progress, and that such progress is the main source of productivity increase (Krugman 1994, p.59). Such is the basis of thought lying behind one of the possible explanations of the 19 ...
... long-run growth have been aware that long-run economic growth would grind to a halt without continuous technological progress, and that such progress is the main source of productivity increase (Krugman 1994, p.59). Such is the basis of thought lying behind one of the possible explanations of the 19 ...
Commodity Price Supercycles: What Are They and
... of new projects (Majd and Pindyck 1987). Small forecasting errors on the part of firms have been found to have large consequences for prices in other industries with high start-up costs and long-lived projects, such as shipping (Greenwood and Hanson 2015). It is important to note that not all commod ...
... of new projects (Majd and Pindyck 1987). Small forecasting errors on the part of firms have been found to have large consequences for prices in other industries with high start-up costs and long-lived projects, such as shipping (Greenwood and Hanson 2015). It is important to note that not all commod ...
Answers to questions.
... The core rate of inflation (increased by .3 percent in May) represents changes in the consumer price index without the influences of changes in the prices of food and energy, which can fluctuate widely from month to month. The increased May index compares to .3 percent increases in the core rate of ...
... The core rate of inflation (increased by .3 percent in May) represents changes in the consumer price index without the influences of changes in the prices of food and energy, which can fluctuate widely from month to month. The increased May index compares to .3 percent increases in the core rate of ...
Business Essentials 6e
... • The deficit exists because the amount of money spent on foreign products has not been paid in full. In effect, therefore, it is borrowed money, and borrowed money costs more money in the form of interest. • The money that flows out of the country to pay off the deficit cannot be used to invest in ...
... • The deficit exists because the amount of money spent on foreign products has not been paid in full. In effect, therefore, it is borrowed money, and borrowed money costs more money in the form of interest. • The money that flows out of the country to pay off the deficit cannot be used to invest in ...
Mankiw SM Chap04 correct size:chap04.qxd.qxd
... real terms the value of its outstanding debt. In this sense we can say that the government repudiates the debt. This only matters, however, when inflation is unexpected. If inflation is expected, people demand a higher nominal interest rate. Repudiation still occurs (i.e., the real value of the debt ...
... real terms the value of its outstanding debt. In this sense we can say that the government repudiates the debt. This only matters, however, when inflation is unexpected. If inflation is expected, people demand a higher nominal interest rate. Repudiation still occurs (i.e., the real value of the debt ...
Dealing with the Great Depression - Federal Reserve Bank of St. Louis
... Roosevelt’s policies restored confidence in the banking system, and money poured back into the banks. ...
... Roosevelt’s policies restored confidence in the banking system, and money poured back into the banks. ...
Two Packs of Cigarettes Say They Don`t Make It Out Of The Forest
... developed. An exchange board was posted in each building to infonn buyers and sellers what goods were being offered and at what prices. After a deal was completed it was marked off or removed from the exchange board. Because these "prices" were posted public knowledge of the relative worth of variou ...
... developed. An exchange board was posted in each building to infonn buyers and sellers what goods were being offered and at what prices. After a deal was completed it was marked off or removed from the exchange board. Because these "prices" were posted public knowledge of the relative worth of variou ...
The Science of Macroeconomics
... Although the job of making economic policy belongs to world leaders, the job of explaining the workings of the economy as a whole falls to macroeconomists. Toward this end, macroeconomists collect data on incomes, prices, unemployment, and many other variables from different time periods and differ ...
... Although the job of making economic policy belongs to world leaders, the job of explaining the workings of the economy as a whole falls to macroeconomists. Toward this end, macroeconomists collect data on incomes, prices, unemployment, and many other variables from different time periods and differ ...
Index Numbers and the Measurement of Real GDP Exchange Rate
... the Commerce Department, is responsible for preparing and publishing estimates of the gross domestic product (GDP), the most comprehensive measure of our economy's total output. I Most commentators take it for granted that these BEA estimates of GDP represent objective measures of the nation's outpu ...
... the Commerce Department, is responsible for preparing and publishing estimates of the gross domestic product (GDP), the most comprehensive measure of our economy's total output. I Most commentators take it for granted that these BEA estimates of GDP represent objective measures of the nation's outpu ...
doc - RCEF2016
... economically active population while the demand one by the difference between marginal revenue on labor and average wages per employee. The demand side of the model is represented by the variables of internal and of external demands that together with money mass help to determine the price level. Th ...
... economically active population while the demand one by the difference between marginal revenue on labor and average wages per employee. The demand side of the model is represented by the variables of internal and of external demands that together with money mass help to determine the price level. Th ...
CHAP08
... 1. Equalize tax treatment of all types of capital in all industries, then let the market allocate investment to the type with the highest marginal product. 2. Industrial policy: Govt should actively encourage investment in capital of certain types or in certain industries, ...
... 1. Equalize tax treatment of all types of capital in all industries, then let the market allocate investment to the type with the highest marginal product. 2. Industrial policy: Govt should actively encourage investment in capital of certain types or in certain industries, ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... (Alaluf 1971). In short, and according to a UP analyst, “the role of the state has always been to favor large monopolistic capital and its fundamental interests” (Ramos 1972). Different aspects were pointed out on the issue of Chile’s external dependence, including (a) the mono-export nature of the ...
... (Alaluf 1971). In short, and according to a UP analyst, “the role of the state has always been to favor large monopolistic capital and its fundamental interests” (Ramos 1972). Different aspects were pointed out on the issue of Chile’s external dependence, including (a) the mono-export nature of the ...
Economics R. Glenn Hubbard, Anthony Patrick O`Brien, 2e.
... In 1995, Alywn Young of the University of Chicago published an article in which he argued that Singapore’s growth depended more on increases in capital per hour worked, increases in the labor force participation rate, and the transfer of workers from agricultural to nonagricultural jobs than on tech ...
... In 1995, Alywn Young of the University of Chicago published an article in which he argued that Singapore’s growth depended more on increases in capital per hour worked, increases in the labor force participation rate, and the transfer of workers from agricultural to nonagricultural jobs than on tech ...
Nominal GDP Targeting
... Targeting nominal GDP rather than inflation provides a more robust basis for central banks to conduct monetary policy if their ultimate aim is macroeconomic stability. This is because nominal GDP growth provides a much more reliable indication as to whether the economy is experiencing excess demand ...
... Targeting nominal GDP rather than inflation provides a more robust basis for central banks to conduct monetary policy if their ultimate aim is macroeconomic stability. This is because nominal GDP growth provides a much more reliable indication as to whether the economy is experiencing excess demand ...
Blanchard, Oliver, 2000. What do we know about macroeconomics
... To somebody who reads it today, the pre-1940 literature on macroeconomics feels like an 共intellectual兲 witch’s brew: many ingredients, some of them exotic, many insights, but also a great deal of confusion. 6 The set of issues that would now be called macroeconomics fell under two largely disconnect ...
... To somebody who reads it today, the pre-1940 literature on macroeconomics feels like an 共intellectual兲 witch’s brew: many ingredients, some of them exotic, many insights, but also a great deal of confusion. 6 The set of issues that would now be called macroeconomics fell under two largely disconnect ...
PDF
... equally. Real income fell in the first year after the introduction of the reforms for nearly all of the socioeconomic groups for which information is available. However, it is apparent from examining simple partitions of households that the reform impact varied for different population segments. Tab ...
... equally. Real income fell in the first year after the introduction of the reforms for nearly all of the socioeconomic groups for which information is available. However, it is apparent from examining simple partitions of households that the reform impact varied for different population segments. Tab ...
Argentina`s Lost Decade and Subsequent Recovery
... observed toward the end of that period than to their average over that same period. Given that the observed capital–output ratio for Argentina was still in an upward trend by the time it reached values of around 1.9 in 1978 and 1979, we adopted 2 as a reasonable guess for the value of that ratio in ...
... observed toward the end of that period than to their average over that same period. Given that the observed capital–output ratio for Argentina was still in an upward trend by the time it reached values of around 1.9 in 1978 and 1979, we adopted 2 as a reasonable guess for the value of that ratio in ...
Long Depression
The Long Depression was a worldwide price recession, beginning in 1873 and running through the spring of 1879. It was the most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War. The episode was labeled the ""Great Depression"" at the time, and it held that designation until the Great Depression of the 1930s. Though a period of general deflation and a general contraction, it did not have the severe economic retrogression of the Great Depression.It was most notable in Western Europe and North America, at least in part because reliable data from the period are most readily available in those parts of the world. The United Kingdom is often considered to have been the hardest hit; during this period it lost some of its large industrial lead over the economies of Continental Europe. While it was occurring, the view was prominent that the economy of the United Kingdom had been in continuous depression from 1873 to as late as 1896 and some texts refer to the period as the Great Depression of 1873–96.In the United States, economists typically refer to the Long Depression as the Depression of 1873–79, kicked off by the Panic of 1873, and followed by the Panic of 1893, book-ending the entire period of the wider Long Depression. The National Bureau of Economic Research dates the contraction following the panic as lasting from October 1873 to March 1879. At 65 months, it is the longest-lasting contraction identified by the NBER, eclipsing the Great Depression's 43 months of contraction.In the US, from 1873–1879, 18,000 businesses went bankrupt, including 89 railroads. Ten states and hundreds of banks went bankrupt. Unemployment peaked in 1878, long after the panic ended. Different sources peg the peak unemployment rate anywhere from 8.25% to 14%.