Applied economics refers to the use of economy-framed theories, combined with data and information, to improve real world outcomes. more Indexation: Meaning and Examples Indexation is the process of adjusting a price, wage, or other value based on changes in another price or a composite indicat...
Part of the Series Guide to Economics Getty Images, Alexander Spatari The U.S., China, Germany, Japan, and India are some of the top economies in the world based on gross domestic product (GDP). Gross domestic product is an estimate of the total value of finished goods and services ...
WIID is a database held at the United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki, that provides cross-country information on inequality (Gini and quantile shares; about eleven thousand observations) obtained from secondary sources, including research ...
Institute for Finance, Banking and Insurance, Vienna University of Economics and Business, Vienna, Austria Christian Diem School of Economics, Universidad San Francisco de Quito, Quito, Ecuador Pablo Astudillo-Estévez Institute for New Economic Thinking, University of Oxford, Oxford, UK ...
The definition ofscarcityin economics refers to a situation where an item's demand far outweighs its available supply. In theoretical discussion, this is commonly expressed in the scarcity of precious metals that are valuable inputs in production but are difficult to come by. This gap between an...
However, there is a need for further research to directly investigate these behavioral precursors through other appropriate approaches and methodologies (e.g., behavioral economics experiments). Credit author statement Marco Setti conceived and designed the study, Atsede Ghidey Alemayehu performed the ...
https://economics.mit.edu/files/1353. First, it helps economic actors realize the fruits of investment. Second, secure property rights release extra resources for productive activities that an individual would otherwise allocate to defend the property in the absence of security, or if it checks th...
Human activities affect the Earth System with an unprecedented magnitude, causing undesirable irreversible degradation. The United Nation’s Sustainable Development Goals (SDGs) provide an integrated global action plan for sustainable development. Howeve
Poverty is considered to be a result of market failure. When arecessionhits, the poverty rate increases because employees lose their jobs or lose working hours, which results in no income or less income. Inequality, which is a component of market failure, can eventually lead to poverty when ...
This indicates that inequality manifests itself through a skewed income distribution, unequal access to opportunities, and regional disparities. Low growth and rising unemployment have contributed to the persistence of inequality. This study focused on gender inequality, which refers to expenditure ...