EconomicsDynamic memoryPower-law memoryFading memoryMultiplierAcceleratorFractional derivativeFractional integralFractional dynamicsFractional calculusIn this paper we discuss a concept of dynamic memory and an application of fractional calculus to describe the dynamic memory. The concept of memory is considered ...
From Hawtrey to Keynes ‘Dealers Economics’ and the Impact of Multiplier Theory Although R. G. Hawtrey (1879-1975) had been an outstanding monetary economist in the 1920s and 1930s, and was greatly respected by Keynes, the subsequent ... A Komine - 《Annals of the Society for the Histor...
that is, periods of prosperity followed by periods of depression. However, the waves of prosperity and depression need not always be of the same length and amplitude. Further, trade cycles varied tremendously in magnitude. While some have smaller cyclical fluctuations in economic...
Nigeria Consumption Function – An Empirical Test of the Permanent Income Hypothesis Consumption plays a significant role in determining the size of the multiplier and the dynamic effects of the economy shock. It also constitutes the larges... I Kelikume,F Alabi,Anetor, Friday - 《Social Scien...
Explain the concept of the multiplier effect. Explain the crowding hypothesis and construct a graph of it. Using the one-period model as an example, explain how crowding out works. Explain impact of lifted quota in the economy. Does crowding out occur in the long run or the short run? Exp...
These models are based on the large-scale databases (Economic Analysis database of national I–O accounts and Regional Input–Output Multiplier System accounts), and measure the interdependencies among infrastructure sectors by economic relationships. Hence, the IIM based models are useful for ...
Gross Domestic Product (GDP)measures total income of everyone in the economy. Nominal GDPvalues output using current prices. It is not corrected for inflation. Real GDPvalues output using the prices of a base year. Money multiplier: the amount of money the banking system generates with each dol...
Money supply consists of: total currency circulating in the public plus the non-bank deposits with a commercial bank. Money supply includes deposits generated in the banking system resulting from a multiplier effect of movement of currency in the banking system as well as other forms of liquid as...
agricultural development can be particularly effective in reducing poverty and hunger since the agricultural sector has a high multiplier effect on poverty alleviationFootnote1(Benin,2016). Agricultural production accounts for approximately 15% of the continent’s GDP, although there are significant variatio...
And overall convective heat transfer can be calculated from:(2)Qconv=λtλmHnc(Tb−Ti)where Hnc, the convective heat transfer coefficient;λt, user-specified multiplier; and λm, multiplier that accounts for the thinning of the boundary layer on the heat exchanger surface. The PCCS and PCC...