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Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...
The book showed how operationally meaningful theorems can be described with a small number of analogous methods, thus providing "a general theory of economic theories." It moved mathematics out of the appendices (as in John R. Hicks's Value and Capital ) and helped change how standard economic analysis across subjects could be done with the ...
The book draws from recent developments in economics research to argue solutions to the issues facing modern economies and societies around the world, including slowing economic growth, immigration, income inequality, climate change, globalization and technological unemployment. [3] It is their second collaborative book since the publication of ...
Most economic models rest on a number of assumptions that are not entirely realistic. For example, agents are often assumed to have perfect information, and markets are often assumed to clear without friction. Or, the model may omit issues that are important to the question being considered, such as externalities. Any analysis of the results of ...
There are various factors affecting economic growth. The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of ...
Get ready for all of today's NYT 'Connections’ hints and answers for #592 on Thursday, January 23, 2025. Today's NYT Connections puzzle for Thursday, January 23, 2025The New York Times
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
Consequently, there occur various problems that are inherent in the formulations that use aggregated variables. [ 1 ] The aggregation problem is the problem of finding a valid way to treat an empirical or theoretical aggregate as if it reacted like a less-aggregated measure, say, about behavior of an individual agent as described in general ...