P Draft - Macroeconomic theory and policy

... the per capita GDP, measures the value of production per person. Economists and pol- icymakers care about the GDP (and the per capita GDP in particular) because material living standards depend ... measure both in principle and in practice (i.e., things that should be counted as GDP in principle, but may not be in practice). In principle, GDP is supposed to measure the value of output th...

Ngày tải lên: 09/04/2014, 16:05

Ngày tải lên: 14/12/2013, 15:15

Ngày tải lên: 14/12/2013, 15:15

... increase in the supply of land expands production possibilities disproportionately in the direction of food production, while an increase in the supply of labor expands them disproportionately in ... 78 factor abundance, p. 67 factor intensity, p. 67 factor prices, p. 68 factor-proportions theory, p. 67 Heckscher-Ohlin theory, p. 67 Leontief paradox, p. 82 scarce factor, p. 77 Proble...

Ngày tải lên: 20/01/2014, 11:20

... increase in the supply of land expands production possibilities disproportionately in the direction of food production, while an increase in the supply of labor expands them disproportionately in ... 78 factor abundance, p. 67 factor intensity, p. 67 factor prices, p. 68 factor-proportions theory, p. 67 Heckscher-Ohlin theory, p. 67 Leontief paradox, p. 82 scarce factor, p. 77 Proble...

Ngày tải lên: 26/01/2014, 08:20

... protection, p. 192 efficiency loss, p. 196 export restraint, p. 186 export subsidy, p. 197 export supply curve, p. 187 import demand curve, p. 187 CHAPTER 8 The Instruments of Trade Policy import ... standards. Key Terms beggar-thy-neighbor policies, p. 281 externalities, p. 277 Brander-Spencer analysis, p. 279 strategic trade policy, p. 276 excess returns, p. 279 Prob...

Ngày tải lên: 26/01/2014, 08:20

... willing or able to define and protect property rights, enforce contracts and pre- vent involuntary transactions, maintain a circulating medium, and curtail monopoly and anti-competitive behaviour, ... interpret and enforce those rules. 22 For example, competition/anti-trust law ensures that markets are open and that competition exists. Property law sets out the rules of property a...

Ngày tải lên: 07/03/2014, 03:20

... why the prescriptions of the standard welfare analysis of trade policy seldom prevail in practice. Chapter 12 explores the popular notion that governments should adopt activist trade poli- cies ... monetary portion (Chapters 13 through 22) are divided into a core of chapters focused on theory, followed by chapters applying the theory to major policy questions, past and current. In Ch...

Ngày tải lên: 22/03/2014, 16:29

... resulting pollution, and the paper industry will point to the inap- propriate location of the fish producers. What is therefore missing is an appropriate assignment of property rights with respect ... standards, command -and- control policies play a dom- inant role in applied environmental economics (cf. Chapter 9). Problems with this kind of policy are mainly associated with incentive-com...

Ngày tải lên: 23/03/2014, 14:20

... deliberately keep this model simple for expositional purposes. It could be expanded in several directions. For example, in a New Keynesian setting, expected output would appear on the right-hand side ... are kept secret. Only a few central banks project the future path of their policy rate. (More on this later). And most observe a blackout or “purdah” period before each policy meeting...

Ngày tải lên: 15/03/2014, 10:20