Pub Date : 2021-07-31DOI: 10.1017/9781108764919.009
{"title":"The Policy Objective of Full Employment","authors":"","doi":"10.1017/9781108764919.009","DOIUrl":"https://doi.org/10.1017/9781108764919.009","url":null,"abstract":"","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"91 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80867911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-31DOI: 10.1017/9781108764919.005
M. Friedman, A. Schwartz
{"title":"Money and Interest Rates","authors":"M. Friedman, A. Schwartz","doi":"10.1017/9781108764919.005","DOIUrl":"https://doi.org/10.1017/9781108764919.005","url":null,"abstract":"","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"57 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73671824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-31DOI: 10.1017/9781108764919.003
John F. Hall, Anthony Zambelli
What is economics? Economics is the study of how societies and individuals use limited resources to satisfy "unlimited" human wants. Resources are limited because they are scarce. Resources are scarce because there are more possible uses for the resources than there are resources available to be employed in those uses. When scarce resources confront "unlimited" wants, choices must be made. We can restate our definition of economics as follows: Economics is the study of how societies and individuals choose among alternative uses for scarce resources, in the never-ending effort to satisfy "unlimited" wants.
{"title":"What is Economics","authors":"John F. Hall, Anthony Zambelli","doi":"10.1017/9781108764919.003","DOIUrl":"https://doi.org/10.1017/9781108764919.003","url":null,"abstract":"What is economics? Economics is the study of how societies and individuals use limited resources to satisfy \"unlimited\" human wants. Resources are limited because they are scarce. Resources are scarce because there are more possible uses for the resources than there are resources available to be employed in those uses. When scarce resources confront \"unlimited\" wants, choices must be made. We can restate our definition of economics as follows: Economics is the study of how societies and individuals choose among alternative uses for scarce resources, in the never-ending effort to satisfy \"unlimited\" wants.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"31 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81749038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-31DOI: 10.1017/9781108764919.002
{"title":"Note to the Reader","authors":"","doi":"10.1017/9781108764919.002","DOIUrl":"https://doi.org/10.1017/9781108764919.002","url":null,"abstract":"","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"135 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77206212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-31DOI: 10.4135/9781483345727.n212
Charles Cooper
Recession, rising oil prices and changes in the pattern and organisation of international lending have created or accentuated such circumstances in a large number of countries. So it is reasonable to suppose that there will be renewed interest in inward-looking strategies in coming years. The four-sector model formulated by K. N. Raj and A. K. Sen (Raj and Sen, 1961) has a number of characteristics in common with the Fel'dmanMahalanobis model, but apart from some early comments (Parry Lewis, 1962; Rosen, 1962; Bhagwati, 1962; Scott, 1962) and an elegant generalisation of the approach to alternative strategies by Atkinson (Atkinson, 1969), it has not been much discussed. This is a pity because the Raj-Sen model is especially well adapted for analysing 'inward-looking' strategies, and was indeed drawn up with that objective. This paper re-examines and extends the Raj-Sen model with two main
经济衰退、石油价格上涨以及国际贷款模式和组织的变化在许多国家造成或加剧了这种情况。因此，我们有理由认为，未来几年人们将重新对内向型战略产生兴趣。K. N. Raj和a . K. Sen (Raj and Sen, 1961)提出的四部门模型与Fel'dmanMahalanobis模型有许多共同的特征，但除了一些早期的评论(Parry Lewis, 1962;罗森,1962;巴格沃蒂,1962;Scott, 1962)和Atkinson (Atkinson, 1969)对替代策略方法的优雅概括，它没有得到太多讨论。这是一个遗憾，因为Raj-Sen模型特别适合于分析“内向型”战略，并且确实是为了这个目标而制定的。本文从两个方面对Raj-Sen模型进行了重新审视和扩展
{"title":"Economic Growth","authors":"Charles Cooper","doi":"10.4135/9781483345727.n212","DOIUrl":"https://doi.org/10.4135/9781483345727.n212","url":null,"abstract":"Recession, rising oil prices and changes in the pattern and organisation of international lending have created or accentuated such circumstances in a large number of countries. So it is reasonable to suppose that there will be renewed interest in inward-looking strategies in coming years. The four-sector model formulated by K. N. Raj and A. K. Sen (Raj and Sen, 1961) has a number of characteristics in common with the Fel'dmanMahalanobis model, but apart from some early comments (Parry Lewis, 1962; Rosen, 1962; Bhagwati, 1962; Scott, 1962) and an elegant generalisation of the approach to alternative strategies by Atkinson (Atkinson, 1969), it has not been much discussed. This is a pity because the Raj-Sen model is especially well adapted for analysing 'inward-looking' strategies, and was indeed drawn up with that objective. This paper re-examines and extends the Raj-Sen model with two main","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"53 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85296625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An increase in the aggregate markup can be due to both firm-level markups increasing and economic activity reallocating toward high-markup firms. I show that standard decomposition methods estimate a non-zero reallocation effect even when the allocation does not change and that this bias is potentially large. In opposite to the existing literature, I find that reallocation does not seem to be the major driver of the rise in markups among Compustat firms.
{"title":"Decomposing the Rise in Markups","authors":"Has van Vlokhoven","doi":"10.2139/ssrn.3874191","DOIUrl":"https://doi.org/10.2139/ssrn.3874191","url":null,"abstract":"An increase in the aggregate markup can be due to both firm-level markups increasing and economic activity reallocating toward high-markup firms. I show that standard decomposition methods estimate a non-zero reallocation effect even when the allocation does not change and that this bias is potentially large. In opposite to the existing literature, I find that reallocation does not seem to be the major driver of the rise in markups among Compustat firms.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"118 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86825667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I examine the role of family structure and childcare subsidies in child skill accumulation. I establish empirically that skill accumulation is more responsive to childcare price for one-parent families than for two-parent families. I analyze the effects of childcare subsidies in a model featuring endogenous family formation, parental altruism, and a baseline subsidy resembling that of the United States. I find that eliminating this subsidy generates welfare losses of 1.63 percent of lifetime consumption, that equilibrium adjustments act to mitigate these losses, and that increasing uptake among one-parent families yields the highest welfare gains per additional recipient. (JEL I21, I26, J12, J13, J24)
{"title":"Child Care Subsidies and Child Skill Accumulation in One- and Two-Parent Families","authors":"Emily Moschini","doi":"10.2139/ssrn.3890482","DOIUrl":"https://doi.org/10.2139/ssrn.3890482","url":null,"abstract":"I examine the role of family structure and childcare subsidies in child skill accumulation. I establish empirically that skill accumulation is more responsive to childcare price for one-parent families than for two-parent families. I analyze the effects of childcare subsidies in a model featuring endogenous family formation, parental altruism, and a baseline subsidy resembling that of the United States. I find that eliminating this subsidy generates welfare losses of 1.63 percent of lifetime consumption, that equilibrium adjustments act to mitigate these losses, and that increasing uptake among one-parent families yields the highest welfare gains per additional recipient. (JEL I21, I26, J12, J13, J24)","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88748120","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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