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With respect to lowest-low fertility countries (for example in Europe), a negative population momentum implies that these countries may experience population decline even if they try to increase their rate of fertility to the replacement rate of 2.1. For example, some Eastern European countries show a population shrinkage even if their birth ...
Ergodicity economics is a research programme that applies the concept of ergodicity to problems in economics and decision-making under uncertainty. [1] The programme's main goal is to understand how traditional economic theory, framed in terms of the expectation values , changes when replacing expectation value with time averages.
In 20th-century discussions of Karl Marx's economics, the transformation problem is the problem of finding a general rule by which to transform the "values" of commodities (based on their socially necessary labour content, according to his labour theory of value) into the "competitive prices" of the marketplace.
A loosely defined goal of ZPG is to match the replacement fertility rate, which is the average number of children per woman which would hold the population constant. This replacement fertility will depend on mortality rates and the sex ratio at birth, and varies from around 2.1 in developed countries to over 3.0 in some developing countries. [21]
The concept of maximum sustainable yield is not always easy to apply in practice. Estimation problems arise due to poor assumptions in some models and lack of reliability of the data. [8] [24] Biologists, for example, do not always have enough data to make a clear determination of the population's size and growth rate. Calculating the point at ...
Under the standard assumption of neoclassical economics that goods and services are continuously divisible, the marginal rates of substitution will be the same regardless of the direction of exchange, and will correspond to the slope of an indifference curve (more precisely, to the slope multiplied by −1) passing through the consumption bundle in question, at that point: mathematically, it ...
Import substitution was heavily practiced during the mid-20th century as a form of developmental theory that advocated increased productivity and economic gains within a country. It was an inward-looking economic theory practiced by developing nations after World War II. Many economists then considered the ISI approach as a remedy to mass ...
The exchange rate disconnect puzzle: The exchange rate disconnect puzzle, also one of the so-called real exchange rate puzzles, concerns the weak short-term feedback link between exchange rates and the rest of the economy. In most economies, the exchange rate is the most important relative price, so it is surprising, and thus far unexplained ...