we estimate that restructuring costs (that include much more than severance packages) are approximately 10 times higher in countries with high labor protection, such as in Western Europe, than in countries with low labor protection such as in the United States.” It’s not just monetary...
"The second possible direction of change for the monetary policy framework would be to keep the targets-based approach that I favor, but to change the target. Suggestions that have been made include raising the inflation target, targeting the price level, or targeting some function of nominal GD...
Far more money should be spent in pre-schooling, since the cognitive abilities and social skills that children learn in their first few years define much of their future potential. And adults who need continuous education. State education may well involve a year of study to be taken later in...
a) Edit the PYTHONPATH to include the ai-economist directory export PYTHONPATH=<local path to ai-economist>:$PYTHONPATH OR b) Install as an editable Python package cd ai-economist pip install -e . Useful tip: for quick access, add the following to your ~/.bashrc or ~/.bash_profile: ...
“Well, what happened, apparently, was that while the Dodd-Frank Act was being rewritten by the Congress, Janet Yellen changed the wording around and she said, ‘Well, how do we define a general liquidity crisis?’ Well, it doesn’t mean what you and I ...
Theeconomic growthof a country is the increase in the market value of the goods and services produced by an economy over time. We define economic growth in an economy by an outward shift in itsProduction Possibility Curve(PPC). Economic growth is measured by the increase in a country’s tot...
Neoclassical economics refers to one of the main twentieth-century approaches to studying trade and related activities, which went head-to-head with Keynes' ideas. These theories differ in the extent to which they argue for efficient markets or for government...
In a recent paper, Nathan Coombs, a Research Fellow at the University of Edinburgh, grappled with the complexities of trying to define, identify, and monitor well-guarded financial algorithms, and concluded that the HFT Act—although far from perfect—has had a notable degree of success. ......
The confusion stems from the way FAO deal with the concept of family farming, which they roughly define as any farm managed by an individual or a household. (They admit there is no precise definition. Various countries, like Mali, have their own.) ...
Why al-Bashir’s fall is only the start of a new Sudan The military has taken control of Sudan while protesters demand a total clean-out of Omar al-Bashir’s regime. Against state machinery, photo credit to Quartz Africa By David E Kiwuwa, The Conversation These two weeks have proven...