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In econometrics, the estimate of the effect of one thing on another (say, the estimate of the effect of the minimum wage upon employment decisions) is said to be "biased" if the technique that was used to obtain the estimate has the effect that, a priori, the expected value of the estimated effect differs from the true effect, whatever the ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The concept of weak sustainability still attracts a lot of criticism. Some even suggest that the concept of sustainability is redundant. Other approaches are advocated, including ‘social bequests’, which focus the attention away from neoclassical theory altogether. A prime example of a weak sustainability is the Government Pension Fund of ...
It really is the economy, stupid. 39% of middle-class Americans say ‘money’ is their top concern versus just 4% who cite political and social issues, survey finds ... and they want ways to ...
January's employment report was grim, showing just 36,000 jobs added to the economy. And while everyone is blaming the weather for the poor report, the truth is that this recovery, in its early ...
The U.S. economy is actually a ‘wolf in sheep’s clothing’ as the weak GDP report masks underlying strength, Wells Fargo says ... Another gauge of underlying domestic demand that excludes the ...
Different economists have different views about what events are the sources of market failure. Mainstream economic analysis widely accepts that a market failure (relative to Pareto efficiency) can occur for three main reasons: if the market is "monopolised" or a small group of businesses hold significant market power, if production of the good or service results in an externality (external ...
The mixed data underline how challenging it will be for China's leaders to mount a durable economic recovery heading into 2025, when trade relations with China's biggest export market could worsen ...