in macroeconomics the economy can best be understood through the use o
the interest rate overall price level
231244
an economy as a whole, such as the overall price level, the interest rate, and the level of employment (or equivalently, of income/output measured in real terms). The classical tradition of partial equilibrium theory had been to split the economy into separate markets, each of whose equilibrium conditions could be stated as a single equation determining a single variable. The theoretical apparatus of supply and demand curves developed by Fleeming Jenkin and Alfred Marshall provided a unified mathematical basis for this approach, which the Lausanne School generalized to general equilibrium theory. For macroeconomics the relevant partial theories were: the Quantity
Keynesian economics
6274300
Classical dichotomy In macroeconomics, the classical dichotomy is the idea, attributed to classical and pre-Keynesian economics, that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value of output and the interest rate. In particular, this means that real GDP and other real variables can be determined without knowing the level of the nominal money supply or the rate of inflation. An economy exhibits the classical dichotomy
Classical dichotomy
246672
additional output to the economy. Crowding out also occurs when government spending raises interest rates, which limits investment. Defenders of fiscal stimulus argue that crowding out is not a concern when the economy is depressed, plenty of resources are left idle, and interest rates are low. Fiscal policy can be implemented through automatic stabilizers. Automatic stabilizers do not suffer from the policy lags of discretionary fiscal policy. Automatic stabilizers use conventional fiscal mechanisms but take effect as soon as the economy takes a downturn: spending on unemployment benefits automatically increases when unemployment rises and, in a progressive income tax system,
Macroeconomics
10948212
intention to control the real economy ends up only in a change in the rate of inflation. However, and this is the point, if any of these conditions does not hold, monetary policy can be effective again. So, if any of the conditions necessary for the equivalence does not hold, countercyclical fiscal policy can be effective. Controlling the real economy is possible perhaps in a Keynesian style if government regains its potential to exert this control. Therefore, actually, new classical macroeconomics highlights the conditions under which economic policy can be effective and not the predestined inefficiency of economic policy. Countercyclical
New classical macroeconomics
15121100
Hydraulic macroeconomics Hydraulic macroeconomics is an informal characterization of certain types of macroeconomic study assuming aggregate social wealth (demand or supply) as somewhat smooth, constant and homogeneous. The term was first introduced as hydraulic Keynesianism by Alan Coddington in classification of theoretical research methodologies in Keynesian economics. Hydraulics is the science and engineering of the mechanical properties of liquids. Macroeconomics is the study of the performance and structure of an entire economy. Hydraulic macroeconomics is, essentially, a study of the economy that treats money as a form of liquid that circulates through the economic plumbing. William Phillips, a famous economist
Hydraulic macroeconomics
10948208
1970s and the apparent failure of Keynesian economics, the New Classical school for a while became the dominant school in Macroeconomics. The new classical perspective takes root in three diagnostic sources of fluctuations in growth: the productivity wedge, the capital wedge, and the labor wedge. Through the neoclassical perspective and business cycle accounting one can look at the diagnostics and find the main ‘culprits’ for fluctuations in the real economy. New classical economics is based on Walrasian assumptions. All agents are assumed to maximize utility on the basis of rational expectations. At any one time, the economy is assumed to
New classical macroeconomics
7716658
political economy of globalization (diversity of capitalisms, politics and firms...). By doing so, its methods now range from institutional macroeconomics to discurses analysis, with quantitative and qualitative methods. Regulation school The regulation school () is a group of writers in political economy and economics whose origins can be traced to France in the early 1970s, where economic instability and stagflation were rampant in the French economy. The term "régulation" was coined by Frenchman Destanne de Bernis, who aimed to use the approach as a systems theory to bring Marxian economic analysis up to date. These writers are influenced by structural
Regulation school
246670
the United States Federal Reserve recently made an attempt at such a policy with Operation Twist. Unable to lower current interest rates, the Federal Reserve lowered long-term interest rates by buying long-term bonds and selling short-term bonds to create a flat yield curve. Fiscal policy is the use of government's revenue and expenditure as instruments to influence the economy. Examples of such tools are expenditure, taxes, debt. For example, if the economy is producing less than potential output, government spending can be used to employ idle resources and boost output. Government spending does not have to make up for the
Macroeconomics
246658
excluded. Unemployment can be generally broken down into several types that are related to different causes. A general price increase across the entire economy is called inflation. When prices decrease, there is deflation. Economists measure these changes in prices with price indexes. Inflation can occur when an economy becomes overheated and grows too quickly. Similarly, a declining economy can lead to deflation. Central bankers, who manage a country's money supply, try to avoid changes in price level by using monetary policy. Raising interest rates or reducing the supply of money in an economy will reduce inflation. Inflation can lead to
Macroeconomics
110948
mobility, and (un)employment, productivity through human capital, and related public-policy issues. Demand-and-supply analysis is used to explain the behaviour of perfectly competitive markets, but as a standard of comparison it can be extended to any type of market. It can also be generalized to explain variables across the economy, for example, total output (estimated as real GDP) and the general price level, as studied in macroeconomics. Tracing the qualitative and quantitative effects of variables that change supply and demand, whether in the short or long run, is a standard exercise in applied economics. Economic theory may also specify conditions such
Economics
4636782
Samuelson in 1958, and Peter Diamond in 1965. Books devoted to the use of the OLG model include Azariadis' Intertemporal Macroeconomics and de la Croix and Michel's Theory of Economic Growth. The most basic OLG model has the following characteristics: One important aspect of the OLG model is that the steady state equilibrium need not be efficient, in contrast to general equilibrium models where the First Welfare Theorem guarantees Pareto efficiency. Because there are an infinite number of agents in the economy (summing over future time), the total value of resources is infinite, so Pareto improvements can be made by
Overlapping generations model
19044346
the Eurozone" reports. He has written two textbook chapters on optimal policies in open economy that are widely circulated, one on Master's level, the other among Ph.D. level students. Giancarlo Corsetti Giancarlo Corsetti (born 1960) is an Italian macroeconomist and Professor of Macroeconomics at Cambridge University, fellow of Clare College and the director of the Cambridge Institute for New Economic Thinking. He is best known in academia for his work on open economy macroeconomics and international economics. As of March 2017, the IDEAS/RePEc overall ranking put him as the most influential economist at Cambridge University. Corsetti has previously taught at
Giancarlo Corsetti
246667
such as increasing returns to scale for capital and learning-by-doing, that are endogenously determined instead of the exogenous technological improvement used to explain growth in Solow's model. Macroeconomic policy is usually implemented through two sets of tools: fiscal and monetary policy. Both forms of policy are used to stabilize the economy, which can mean boosting the economy to the level of GDP consistent with full employment. Macroeconomic policy focuses on limiting the effects of the business cycle to achieve the economic goals of price stability, full employment, and growth. Central banks implement monetary policy by controlling the money supply through
Macroeconomics
246653
Macroeconomics Macroeconomics (from the Greek prefix "makro-" meaning "large" + "economics") is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study aggregated indicators such as GDP, unemployment rates, national income, price indices, and the interrelations among the different sectors of the economy to better understand how the whole economy functions. They also develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade, and international finance. While macroeconomics is a broad field of
Macroeconomics
750863
economy" when understood to be a mixture of socialism and capitalism. In "Human Action", Ludwig von Mises argued that there can be no mixture of capitalism and socialism—either market logic or economic planning must dominate an economy. Mises elabourated on this point by contending that even if a market economy contained numerous state-run or nationalized enterprises, this would not make the economy "mixed" because the existence of such organizations does not alter the fundamental characteristics of the market economy. These publicly owned enterprises would still be subject to market sovereignty, would have to acquire capital goods through markets, strive to
Mixed economy
6270566
economy when it is in an upswing, and stimulate the economy when it is in a downturn. Keynesian economics advocates the use of automatic and discretionary countercyclical policies to lessen the impact of the business cycle. One example of an automatically countercyclical fiscal policy is progressive taxation. By taxing a larger proportion of income when the economy expands, a progressive tax tends to decrease demand when the economy is booming, thus reining in the boom. Other schools of economic thought, such as new classical macroeconomics, hold that countercyclical policies may be counterproductive or destabilizing, and therefore favor a laissez-faire fiscal
Procyclical and countercyclical variables
246676
the 20th century) into a group of macroeconomic schools of thought known as Keynesian economics – also called Keynesianism or Keynesian theory. In Keynes's theory, the quantity theory broke down because people and businesses tend to hold on to their cash in tough economic times – a phenomenon he described in terms of liquidity preferences. Keynes also explained how the multiplier effect would magnify a small decrease in consumption or investment and cause declines throughout the economy. Keynes also noted the role uncertainty and animal spirits can play in the economy. The generation following Keynes combined the macroeconomics of the
Macroeconomics
6126766
accidentally in one take, after which assistant director Tommy Thompson called for a cut. However, Altman stated he "loved" the accident, and shot more takes deliberately repeating it. Altman has said the film is about "empty vessels in an empty landscape". Psychiatrist Glen O. Gabbard and Krin Gabbard believed "3 Women" could best be understood through psychoanalysis and the study of dreams. In theory, a person dreaming can shift from one character into another within the dream. The three titular characters in the film represent the psyche of one person. Whereas Pinky is the child among the three, Millie is
3 Women
1585749
services is co-created or co-produced through the interaction between consumers and producers. According to this view, therefore, at one level of abstraction, all consumption can be understood in experiential terms. The Experience Economy The term "Experience Economy" was first used in a 1998 article by B. Joseph Pine II and James H. Gilmore describing the experience economy as the next economy following the agrarian economy, the industrial economy, and the most recent service economy. The concept had been previously researched by many authors. Pine and Gilmore argue that businesses must orchestrate memorable events for their customers, and that memory itself
The Experience Economy
8587505
Economy An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Understood in its broadest sense, 'The economy is defined as a social domain that emphasises the practices, discourses, and material expressions associated with the production, use, and management of resources'. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a
Economy
11811243
by increases in productive capacity through new infrastructure, new factories, increases in the working population, and labor productivity via technology, education, training or efficiency gains. An economist from New Zealand, A. W. Phillips (Alban William Houego), contributed to modern macroeconomics with the Phillips Curve. His model shows a trade-off between unemployment and inflation rates, and this relationship can often be observed in real-world historical data. The underlying principle is as follows: as the unemployment rate drops, aggregate demand in the economy increases, and that, in turn, has a short run impact that drives prices up because supply levels have not
Demand-led growth
1590466
the additional income from the tax cut into saving, and consumption does not rise. In this story, if these processes can be changed by the government, or, in any way, the additional income can be believed not to be withdrawn later, the initial tax cut will induce a rise in public consumption expenditures. So countercyclical fiscal policy can be effective if any one of the conditions necessary for the equivalence does not hold. Controlling the real economy is possible perhaps even in a Keynesian style if government regains its potential to exert this control. Therefore, actually, new classical macroeconomics highlights
Ricardian equivalence
2198443
make use of and provide the empirical data needed in economic research, whether descriptive or econometric. They are a key input for decision making as to economic policy. The subject includes statistical analysis of topics and problems in microeconomics, macroeconomics, business, finance, forecasting, data quality, and policy evaluation. It also includes such considerations as what data to collect in order to quantify some particular aspect of an economy and of how best to collect in any given instance. Economic statistics Economic statistics is a topic in applied statistics that concerns the collection, processing, compilation, dissemination, and analysis of economic data.
Economic statistics
246669
large amounts of inflation. Conventional monetary policy can be ineffective in situations such as a liquidity trap. When interest rates and inflation are near zero, the central bank cannot loosen monetary policy through conventional means. Central banks can use unconventional monetary policy such as quantitative easing to help increase output. Instead of buying government bonds, central banks can implement quantitative easing by buying not only government bonds, but also other assets such as corporate bonds, stocks, and other securities. This allows lower interest rates for a broader class of assets beyond government bonds. In another example of unconventional monetary policy,
Macroeconomics
7794167
the economy. As aggregate behavior is defined differently according to different schools of economical theories, households and firms react differently to fluctuations in the economy. The interactions between factors macroeconomics and microeconomics will result various changes, be it positive or negative. The key factors of macroeconomics are gross domestic product, interest rates, employment indicators, fiscal policy and monetary policy. The key factors of microeconomics are supply and demand in individual markets, individual's choices, market externalities, and the labor market. The interaction between these key microeconomic and macroeconomic factors will determine how each individual reacts to the market. For example, if
Aggregate behavior
10948214
current mission of the new classical macroeconomics is to find out to which extent this caricature of an economy already has enough predictive power to explain business cycles. New classical macroeconomics New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics, especially rational expectations. New classical macroeconomics strives to provide neoclassical microeconomic foundations for macroeconomic analysis. This is in contrast with its rival new Keynesian school that uses microfoundations such as price stickiness and
New classical macroeconomics
19044342
Giancarlo Corsetti Giancarlo Corsetti (born 1960) is an Italian macroeconomist and Professor of Macroeconomics at Cambridge University, fellow of Clare College and the director of the Cambridge Institute for New Economic Thinking. He is best known in academia for his work on open economy macroeconomics and international economics. As of March 2017, the IDEAS/RePEc overall ranking put him as the most influential economist at Cambridge University. Corsetti has previously taught at the European University Institute in Florence (as Pierre Werner Chair), and the Universities Rome III, Bologna and Yale. He is co-editor of the Journal of International Economics and a
Giancarlo Corsetti
19264260
the "strong theorem" that the core-periphery hierarchy of the modern world-economy could best be understood in terms of state strength and cultural integration. He began to use the historical Chinese concept of tianxia ("all under heaven") to describe the structure of the millennial world-system as an American tianxia that has endogenized the entire world-economy under a single, American-dominated political system. He also writes on quantitative methodology for the social sciences. In 2018 he published a book on Donald Trump and his administration, dealing with modern meaning and framing of concepts such as democracy, populism and authoritarianism. Salvatore Babones Salvatore Babones
Salvatore Babones
5624155
in prices may mean that workers demand higher wages (especially as the economy reaches full employment) causing further inflation. In macroeconomics, this is known as the price/wage spiral. 2. Which sectors the increase or decrease in jobs came from. This can give traders a heads up on which sectors of the economy may be primed for growth as companies in those sectors such as housing add jobs. 3. Average hourly earnings. This is an important component because if the same number of people are employed but are earning more or less money for that work, this has basically the same
Nonfarm payrolls
16849062
a high back rounded vowel. For example (Musgrave, 2007, p. 13): The vowel /e/ can be understood as a mid front unrounded vowel. For example (Musgrave, 2007, p. 13): The vowel /o/ can be understood as a mid back rounded vowel. For example (Musgrave, 2007, p. 13): The vowel /a/ can be understood as a low front unrounded vowel. For example (Musgrave, 2007, p. 13): The forms listed below provide contrast between the five vowel phonemes in the Neve’ei language (Musgrave, 2007, p. 13): The table below shows the various syllable structures attested in Neve’ei (Musgrave, 2007, p. 13-14): Syllables
Neve'ei language
16849061
consonants precede rounded vowels such as /o/ and /u/ there is no contrast and only plain labials, examples include (Musgrave, 2007, p. 11): The table above (Musgrave, 2007, p. 12) indicates that the vowel /i/ can be understood as a tense high front unrounded vowel (Musgrave, 2007, p. 12). When the vowel is followed by a nasal or a prenasalised consonant and in closed syllables that end in a non-liquid alveolar consonant, it can be understood as the lax high front vowel [ɪ] (Musgrave, 2007, p. 12). For example (Musgrave, 2007, p. 12): The vowel /u/ can be understood as
Neve'ei language
8965092
by microwave spectroscopy (rotational spectroscopy) to be CH–S–O–H. Sulfenic acids can be stabilized through steric effects, which prevent the sulfenic acid from condensing with itself to form thiosulfinates, RS(O)SR, such as allicin from garlic. Through the use of X-ray crystallography, the structure of such stabilized sulfenic acids were shown to be R–S–O–H. The stable, sterically hindered sulfenic acid, 1-triptycenesulfenic acid, has been found to have a p"K" of 12.5 and an O–H bond-dissociation energy (bde) of 71.9 ± 0.3 kcal/mol, which can be compared to a p"K" of ≥14 and O–H BDE of ~88 kcal/mol for the (valence) isoelectronic hydroperoxides,
Sulfenic acid
532815
witty narration. Most of O. Henry's stories are set in his own time, the early 20th century. Many take place in New York City and deal for the most part with ordinary people: policemen, waitresses, etc. O. Henry's work is wide-ranging, and his characters can be found roaming the cattle-lands of Texas, exploring the art of the con-man, or investigating the tensions of class and wealth in turn-of-the-century New York. O. Henry had an inimitable hand for isolating some element of society and describing it with an incredible economy and grace of language. Some of his best and least-known work
O. Henry
19515635
more generally as well as the international economy. He has sought to clarify how housing serves both households’ needs for consumption as well as for diversification of asset holdings during the life cycle. He has devoted to housing markets research, theoretical and applied, more than one-fourth of his total research output of more than one hundred research articles as of 2015. He has also written on various aspects of labor markets and household decisions in dynamic settings, as well as other several topics that provide input to modern macroeconomics and adopted tools of macroeconomics for use in urban, regional, social
Yannis M. Ioannides
5211844
Portugal, or the Netherlands. This spending figure is still considerably lower than that of France or Germany. In northern continental Europe, most countries use mixed economy models, called Rhine capitalism (a current term used especially for the macroeconomics of Germany, France, Belgium and the Netherlands), or its close relative the Nordic model (which refers to the macroeconomics of Denmark, Iceland, Norway, Sweden and Finland). The debate amongst economists as to which economic model is better, circles around perspectives involving poverty, job insecurity, social services and inequality. Generally speaking, advocates of Anglo-Saxon capitalism argue that more liberalised economies produce greater overall
Anglo-Saxon model
246656
the output and income are usually considered equivalent and the two terms are often used interchangeably,output changes into income. Output can be measured or it can be viewed from the production side and measured as the total value of final goods and services or the sum of all value added in the economy. Macroeconomic output is usually measured by gross domestic product (GDP) or one of the other national accounts. Economists interested in long-run increases in output study economic growth. Advances in technology, accumulation of machinery and other capital, and better education and human capital are all factors that lead
Macroeconomics
8140253
Secondary notation is often not a part of the formal notation itself. Rather, it is a method of organizing the formal notation to allow it to be more easily understood. Thus, secondary notation does not change the actual meaning of the formal notation, rather it allows for the meaning to be readily understood. In text such as programming languages, this can be done using cues such as indentation and coloring. In formal graphical notations, this can be done through the use of symmetry or proximity to indicate relatedness. Secondary notation annotates formal notation in a number of contexts which can
Secondary notation
527110
to itself that preserve the length of all vectors. The orthogonal group is compact as a topological space. Much of Euclidean geometry can be viewed as studying the structure of the orthogonal group, or the closely related group "O"("n") ⋉ R of isometries of R. The groups mentioned so far are all Lie groups, meaning that they are smooth manifolds in such a way that the group operations are smooth, not just continuous. Lie groups are the best-understood topological groups; many questions about Lie groups can be converted to purely algebraic questions about Lie algebras and then solved. An example
Topological group
15146363
Analytic hierarchy process – leader example This is a worked-through example showing the use of the analytic hierarchy process (AHP) in a practical decision situation. See Analytic hierarchy process#Practical examples for context for this example. This example describes the use of the AHP in choosing a leader for a company whose founder is about to retire. There are several competing candidates and several competing criteria for choosing the most suitable one. By using the AHP, the board of directors is able to choose the best candidate in a rational, transparent way that can be examined and understood by all concerned.
Analytic hierarchy process – leader example
3484224
of business expectations. This model was very popular with economists after World War II because it could be understood in terms of general equilibrium theory. This encouraged a much more static vision of macroeconomics than that described above. The second main part of a Keynesian policy-maker's theoretical apparatus was the Phillips curve. This curve, which was more of an empirical observation than a theory, indicated that increased employment and decreased unemployment implied increased inflation. Keynes had only predicted that falling unemployment would cause a higher price, not a higher inflation rate. Thus the economist could use the IS–LM model to
Neo-Keynesian economics
6312841
The use of the term "capital formation" and "investment" can be somewhat confusing, partly because the concept of capital itself can be understood in different ways. Capital formation measures were originally designed to provide a picture of investment and growth of the "real economy" in which goods and services are produced using tangible capital assets. The measures were intended to identify changes in the growth of "physical" wealth across time. However, the international growth of the financial sector has created many structural changes in the way that business investments occur, and in the way capital finance is really organized. This
Capital formation
5985934
Twin deficits hypothesis In macroeconomics, the twin deficits hypothesis or the twin deficits phenomenon, is the proposition that there is a strong causal link between a nation's government budget balance and its current account balance. Standard macroeconomic theory points to how a budget deficit can be a contributing factor to a current account deficit. This link can be seen from considering the national accounting model of the economy: where "Y" represents national income or GDP, "C" is consumption, "I" is investment, "G" is government spending and "X–M" stands for net exports. This represents GDP because all the production in an
Twin deficits hypothesis
9111712
critique of Keynesian macroeconomics, and the idea of rational expectations, first proposed in 1961 by John F. Muth, opposing the idea that government intervention can or should stabilize the economy. The Policy-Ineffectiveness Proposition (1975) of Thomas J. Sargent (1943–) and Neil Wallace (1939–), which seemed to refute a basic assumption of Keynesian economics was also adopted. The Lucas aggregate supply function states that economic output is a function of money or price "surprise." Lucas was awarded the 1995 Nobel Economics Prize. Lucas' model was superseded as the standard model of New Classical Macroeconomics by the Real Business Cycle Theory, proposed
History of economic thought
3977229
sugars are added by an as-yet-unidentified "O"-glucosyltransferase (except for Rumi), and GDP-fucose Protein "O"-fucosyltransferase 1 (POFUT1), respectively. The addition of "O"-fucose by POFUT1 is absolutely necessary for notch function, and, without the enzyme to add "O"-fucose, all notch proteins fail to function properly. As yet, the manner by which the glycosylation of notch affects function is not completely understood. The "O"-glucose on notch can be further elongated to a trisaccharide with the addition of two xylose sugars by xylosyltransferases, and the "O"-fucose can be elongated to a tetrasaccharide by the ordered addition of an N-acetylglucosamine (GlcNAc) sugar by an N-Acetylglucosaminyltransferase
Notch signaling pathway
17485245
policies and macroeconomics. His research work centers on changing regimens, international commerce patterns, monetary policies and debt issues in emerging economies. He is currently a professor and researcher with EGAP at the Monterrey Campus, and his given classes in macroeconomics in various parts of Mexico and abroad. He teaches dynamic macroeconomics at the undergraduate level and two courses at the graduate level, open economy macroeconomics and time series methods for forecasting. He has also worked as a consultant for various companies, state and federal governments as well as international agencies as part of the Centro de Estudios Estratégicos of ITESM.
René Cabral Torres
15121101
and creator of the Phillips curve, invented the MONIAC, a hydraulic computer which simulated the British economy. This is the inspiration for the term. Even earlier, in 1891, Irving Fisher built a hydraulic machine for calculating equilibrium prices. Initially, the phrase, "hydraulic macroeconomics", was associated with Keynesian economic models that did not display household or firm optimization. Hydraulic macroeconomics Hydraulic macroeconomics is an informal characterization of certain types of macroeconomic study assuming aggregate social wealth (demand or supply) as somewhat smooth, constant and homogeneous. The term was first introduced as hydraulic Keynesianism by Alan Coddington in classification of theoretical research
Hydraulic macroeconomics
13358344
as the natural exceeded the market interest rate . In these conditions, borrowers turn a profit and deposit cash into bank reserves, which expands money supply. This can lead to a cumulative process where inflation increases continuously without an expansion in the monetary base. Wicksell's work influenced Keynes and the Swedish economists of the Stockholm School. Modern macroeconomics can be said to have begun with Keynes and the publication of his book "The General Theory of Employment, Interest and Money" in 1936. Keynes expanded on the concept of liquidity preferences and built a general theory of how the economy worked.
History of macroeconomic thought
4140978
as well. In English, a verb that expresses a state can also express the entrance into a state. This is called inchoative aspect. The simple past is sometimes inchoative. For example, the present-tense verb in the sentence "He understands his friend" is stative, while the past-tense verb in the sentence "Suddenly he understood what she said" is inchoative, because it means "He understood henceforth". On the other hand, the past-tense verb in "At one time, he understood her" is stative. The only way the difference between stative and inchoative can be expressed in English is through the use of modifiers,
Stative verb
4865290
a feature extraction step prior to indexing. Unfortunately, the features to extract for a given search are not known a priori. Only through interactive trial and error, with partial results to guide his progress, can a user converge on the best choice of features for a specific search. To support this search workflow, the OpenDiamond platform provided a storage architecture for "discard-based search" that pipelines user control, feature extraction, and per-object indexing computation and result caching. As documented in a 2010 paper, the I/O workloads generated by Diamond searches differ significantly from well-understood indexing workloads such as Hadoop, with important
Mahadev Satyanarayanan
975770
approach), arguing that a macroeconomic model should be built as an aggregated version of microeconomic models while noting that aggregation in the theoretical sense may not be possible within a given model. He developed the "Lucas critique" of economic policymaking, which holds that relationships that appear to hold in the economy, such as an apparent relationship between inflation and unemployment, could change in response to changes in economic policy. That led to the development of new classical macroeconomics and the drive towards microeconomic foundations for macroeconomic theory. Lucas developed a theory of supply that suggests people can be tricked by
Robert Lucas Jr.
19691565
Robert A. Blecker Robert A. Blecker is an American economist who is currently a Professor in the Department of Economics at American University in Washington, DC. He is also Affiliate Faculty of the American University School of International Service and Center for Latin American and Latino Studies, and a Research Associate at the Economic Policy Institute and Political Economy Research Institute. His research has made contributions to the fields of post-Keynesian and neo-Kaleckian macroeconomics, open economy macroeconomics, international trade theory and policy, global imbalances and the U.S. trade deficit, the North American Free Trade Agreement, the economy of Mexico, export-led
Robert A. Blecker
15433777
argument often used by mainstream economists to justify cuts in public spending and reduce the size of government. Specifically, he shows that public investment can actually promote the productivity of the private sector and stimulate trade, employment and long run growth. In this sense, his work has a distinctly Keynesian flavour, influenced by new Keynesians such as Joseph Stiglitz. Although his work can be classified as macroeconomics, he also utilises both micro-data and micro-econometrics. His academic work has been influential, as evidenced by over 8000 citations in Google Scholar. According to the RePEc rankings, he is ranked among the top
Panicos O. Demetriades
19822327
are many Indigenous cultures, practices and planning within Indigenous communities vary greatly. Indigenous planning has a broader and more comprehensive scope than mainstream or Western planning, and is not limited to land use planning or physical development. Indigenous planning is comprehensive and can address all aspects of community life through community development, including the social and environmental aspects that impact the lives of community members. Indigenous planning for land and resources can be understood as transformative planning as it addresses complex issues of Indigenous sovereignty, self-government, and self-determination. Indigenous planning can also be understood as a form of insurgent planning,
Indigenous planning
5908329
to assess exemptions from the Establishment Clause of the First Amendment to the U.S. Constitution. The first use of the term in a Supreme Court opinion is in Justice Brennan's dissenting opinion in ...I would suggest that such practices as the designation of "In God We Trust" as our national motto, or the references to God contained in the Pledge of Allegiance to the flag can best be understood, in Dean Rostow's apt phrase, as a form a "ceremonial deism," protected from Establishment Clause scrutiny chiefly because they have lost through rote repetition any significant religious content. In Justice O'Connor,
Ceremonial deism
393523
verified that Semantic Link Network play an important role in understanding and representation through text summarisation applications. More specialized forms of semantic networks has been created for specific use. For example, in 2008, Fawsy Bendeck's PhD thesis formalized the Semantic Similarity Network (SSN) that contains specialized relationships and propagation algorithms to simplify the semantic similarity representation and calculations. A semantic network is used when one has knowledge that is best understood as a set of concepts that are related to one another. Most semantic networks are cognitively based. They also consist of arcs and nodes which can be organized into
Semantic network
5018982
If the government employed monetary expansion in order to increase output, agents would foresee the effects, and wage and price expectations would be revised upwards accordingly. Real wages would remain constant and therefore so would output; no money illusion occurs. Only stochastic shocks to the economy can cause deviations in employment from its natural level. Taken at face value, the theory appeared to be a major blow to a substantial proportion of macroeconomics, particularly Keynesian economics. However, criticisms of the theory were quick to follow its publication. The Sargent and Wallace model has been criticised by a wide range of
Policy-ineffectiveness proposition
4465164
buffer and not the file itself, any data changed by user #1 can be lost by user #2 (overwritten). The best solution to this problem is to use unbuffered I/O ("read" and "write") with "flock", which also means using "lseek" instead of "fseek" and "ftell". Of course, you'll have to make adjustments for function parameters and results returned. Generally speaking, buffered I/O is "unsafe" when used with shared files. In Amiga OS, a lock on a file (or directory) can be acquired using the codice_21 function (in the codice_22). A lock can be shared (other processes can read the file/directory,
File locking
19428182
attempt to defile, so to speak, the local woman) is stripped of his dignity which has subsequently been transferred to his conquerors. “[T]o penetrate phallically is to dominate, subjugate, and ultimately to humiliate” From as best as can be understood, pederasty, or amorous and sexual relations between men and adolescent boys, has, to a greater or lesser extent, been prevalent throughout numerous cultures over various periods of time. This term may be confused with pedophilia, which is characterized by a sexual attraction to children who have not yet begun pubertal development. Some too draw a distinction between what might be
Sexual taboo in the Middle East
1607303
letter to the address provided at the site” The essence of e-governance is "The enhanced value for stakeholders through transformation" and “the use of technology to enhance the access to and delivery of government services to benefit citizens, business partners and employees”. The focus should be on: Whilst e-government has traditionally been understood as being centered around the operations of government, e-governance is understood to extend the scope by including citizen engagement and participation in governance. As such, following in line with the OECD definition of e-government, e-governance can be defined as the use of ICTs as a tool to
E-government
6864813
"system of interpretation" (SOI) associated with each language user can be represented in the form of an individual "three-place relation" called the "sign relation" of that interpreter. Understood in terms of its "set-theoretic extension", a sign relation L is a "subset" of a "cartesian product" O × S × I. Here, O, S, I are three sets that are known as the "object domain", the "sign domain", and the "interpretant domain", respectively, of the sign relation L ⊆ O × S × I. Broadly speaking, the three domains of a sign relation can be any sets whatsoever, but the kinds
Sign relation
67124
the respective exogenous variables. Demand and supply have also been generalised to explain macroeconomic variables in a market economy, including the quantity of total output and the general price level. The Aggregate Demand–Aggregate Supply model may be the most direct application of supply and demand to macroeconomics, but other macroeconomic models also use supply and demand. Compared to microeconomic uses of demand and supply, different (and more controversial) theoretical considerations apply to such macroeconomic counterparts as aggregate demand and aggregate supply. Demand and supply are also used in macroeconomic theory to relate money supply and money demand to interest rates
Capitalism
3363199
fully understood through a sociological perspective that considers economic sociology and the sociology of immigration. Ethnic Enclaves generate a pool of social capital through which members can access resources that lower the costs of migration. Economic assistance through enclave membership takes the form of job opportunities, loans for small businesses, and other forms of economic assistance. Small ethnic firms within the enclave provide new immigrants with immediate access to economic opportunities by subverting the secondary sector of the economy and creating numerous low-wage jobs that are easily accessed by members. The barriers of entry into the enclave economy are significantly
Ethnic enclave
1702647
to enhance environmental quality and the natural resource base upon which the agricultural economy depends, to make the most efficient use of non-renewable and on-farm resources and integrate natural biological cycles and controls, to sustain the economic viability of farm operations, and to enhance the quality of life for farmers and society as a whole. There are several key principles associated with sustainability in agriculture: Sustainable agriculture can be understood as an ecosystem approach to agriculture. Practices that can cause long-term damage to soil include excessive tilling of the soil (leading to erosion) and irrigation without adequate drainage (leading to
Sustainable agriculture
18380012
of reference, civil society. Foucault answers this question on the process of how to govern through governmental technology, the new neo-liberals, economic liberals sought to have a heterogeneity of the economic and the judicial which must be pegged to an economy understood as process of production and exchange. Civil society, according to Foucault's analysis, must place particular attention to its correlation of technology of government, the rational measure of which must be judicially pegged to an economy understood as the process of production and exchange. What made this version of civil society tick? Foucault makes the amalgamation of civil society
The Birth of Biopolitics
570549
of economic crises. Robert Clower and others have argued for a reformulation of theory toward disequilibrium analysis to incorporate how monetary exchange fundamentally alters the representation of an economy as though a barter system. While general equilibrium theory and neoclassical economics generally were originally microeconomic theories, new classical macroeconomics builds a macroeconomic theory on these bases. In new classical models, the macroeconomy is assumed to be at its unique equilibrium, with full employment and potential output, and that this equilibrium is assumed to always have been achieved via price and wage adjustment (market clearing). The best-known such model is Real
General equilibrium theory
720813
future. Comparative advantage theory deals with the best use of resources and how to put the economy to its best use. But this implies that the resources used to manufacture one product can be used to produce another object. If they cannot, imports will not push the economy into industries better suited to its comparative advantage and will only destroy existing industries. For example, when workers cannot move from one industry to another - usually because they do not have the right skills or do not live in the right place - changes in the economy's comparative advantage will not
Comparative advantage
659275
theory deals with the best use of resources and how to put the economy to its best use. But this implies that the resources used to manufacture one product can be used to produce another object. If they cannot, imports will not push the economy into industries better suited to its comparative advantage and will only destroy existing industries. For example, when workers cannot move from one industry to another—usually because they do not have the right skills or do not live in the right place—changes in the economy's comparative advantage will not shift them to a more appropriate industry,
Tariff
6274303
classical dichotomy, because they argue that prices are sticky. That is, they think prices fail to adjust in the short run, so that an increase in the money supply raises aggregate demand and thus alters real macroeconomic variables. Post-Keynesians reject the classic dichotomy as well, for different reasons, emphasizing the role of banks in creating money, as in monetary circuit theory. Classical dichotomy In macroeconomics, the classical dichotomy is the idea, attributed to classical and pre-Keynesian economics, that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as
Classical dichotomy
17319070
Marathi literature is concerned, Baldobh can be assumed to be composed of "bal" meaning primary and "bodh" meaning knowledge. So Maathi balabodha may be understood as the primary knowledge of Marathi language. In primary knowledge, Mulakshare (Basic Letters), consisting of 12 vowels अ आ इ ई उ ऊ ए ऐ ओ औ अं अ (like A, E, I, O, and U in English) and 36 consonants in five groups (क वर्ग ,च वर्ग, ट वर्ग , त वर्ग and प वर्ग) and 11 individual consonants, are taught to children and illiterate persons through recitation and writing on slates. Historically, the
Balbodh
4964038
for low-valent metal complexes, examples being Fe(bda)(CO) and tris(dibenzylideneacetone)dipalladium(0). Enone is not to be confused with ketene (RC=C=O). An enamine is a cousin of an enone, with the carbonyl replaced by an amine group. Regiospecific formation is the controlled enolate formation by the specific deprotonation at one of the α-carbons of the ketone starting molecule. This provides one of the best understood synthetic strategies to introduce chemical complexity in natural product and total syntheses. A prominent example of its use is in the total synthesis of progesterone illustrated in Figure "Regiospecific enolate formation in the total synthesis of progesterone". When
Enone
10814774
Calcutta 2011: Doctor of Letters, University of Kalyani Uses and Abuses of Instruments for Resource Mobilization: The Indian Experience, in Robert E.B. Lucas and Gaustav F. Panpanek, "The Indian Economy: Recent Development and Future Prospects" (Westview Press, 1988) Effective Demand in a Developing Economy: Approaches and Issues, in Mihir Rakshit (ed.), "Studies in the Macroeconomics of Developing Countries" (OUP, 1989) The Analytcal Framework of Keynes, in Krishna Bharadwaj and Sudipta Kaviraj (eds.), "Perspectives on Capitalism Marx, Keynes, Schumpeter and Weber" (Sage,1989) Underdevelopment of Commodity, Credit and Land Markets: Some Macroeconomic Implications, in Mihir Rakshit (ed.), "Studies in the Macroeconomics of
Mihir Rakshit
11196194
pulse rate) with a gated pulse width of 42 µs. The pulse packet frequency in this example is 27.125 megahertz (MHz) of RF energy. The duty cycle for a pulsed radio frequency is the percent time the RF packet is on, 4.2% for this example ([0.042 ms X 1000 pulses divided by 1000 ms/s] X 100). The pulse packet form can be a square, triangle, sawtooth or sine wave. In several applications of pulse radio frequency, such as radar, times between pulses can be modulated. The best understood and applied use of pulse radio frequency electromagnetic energy is their use
Pulsed radiofrequency
13326647
implementing program reviews. CAS standards are viewed as being easily available, well understood, and easy to use. CAS has also developed operational versions of their standards through the development of CAS Self-Assessment Guides (SAGs). The CAS standards can have special use as the basis for the development of student support areas. CAS standards can provide a common base that can ensuring that leadership focus on the services that students receive and can point towards support that is needed in order to be successful. Additionally the CAS standards can be used to guide the establishment of new programs since they are
Council for the Advancement of Standards in Higher Education
401670
issue in "structural estimation." Typically, data on exogenous variables (that is, variables other than price and quantity, both of which are endogenous variables) are needed to perform such an estimation. An alternative to "structural estimation" is reduced-form estimation, which regresses each of the endogenous variables on the respective exogenous variables. Demand and supply have also been generalized to explain macroeconomic variables in a market economy, including the quantity of total output and the general price level. The aggregate demand-aggregate supply model may be the most direct application of supply and demand to macroeconomics, but other macroeconomic models also use supply
Supply and demand
3464883
the poem - it can be read as the meeting of older, former lovers. However, Cornford is possibly best remembered for her triolet poem "To a Fat Lady Seen from the Train" in "Poems" of 1910. <poem> O why do you walk through the fields in gloves, Missing so much and so much? O fat white woman whom nobody loves, Why do you walk through the fields in gloves, When the grass is soft as the breast of doves And shivering-sweet to the touch? O why do you walk through the fields in gloves, Missing so much and so much?
Frances Cornford
8540799
with capitalist market relations." His combination of Marx's political economy with T.H. Green's ethical liberalism is best understood as left-leaning neo-Hegelian Canadian idealism. In the 1980s, democratic socialism seemed to be in retreat with the rise of New Right-inspired governments that challenged and undermined the mixed economy and welfare state. Macpherson's best-known contribution to political philosophy is the theory of "possessive individualism", in which an individual is conceived as the sole proprietor of his or her skills and owes nothing to society for them. These skills (and those of others) are a commodity to be bought and sold on the
C. B. Macpherson
246681
would, in principle, be structurally accurate as economies changed. Following Lucas's critique, new classical economists, led by Edward C. Prescott and Finn E. Kydland, created real business cycle (RBC) models of the macroeconomy. RBC models were created by combining fundamental equations from neo-classical microeconomics. In order to generate macroeconomic fluctuations, RBC models explained recessions and unemployment with changes in technology instead of changes in the markets for goods or money. Critics of RBC models argue that money clearly plays an important role in the economy, and the idea that technological regress can explain recent recessions is implausible. However, technological shocks
Macroeconomics
17448323
to Lang's intention to uncover the Shanghai pension scandal on the show. June 2009: Lang made a comeback to host "Larry's Eyes on Finance" (), a news commentary talk show. Much of the controversy surrounding Lang can be attributed to his criticism on rightwing capitalism and the failing financial system. For example, Lang openly announced his endorsement of Marx's critical analysis on capitalism, positively reviewed Mao Zedong's role in China's earlier development and pointed out the often negative role US played in global economy and financial world. Lang has repeatedly stated in public that, regarding Macroeconomics, he believes in Karl
Larry Hsien Ping Lang
16356132
get loans for the given interest rate. The information asymmetry in this economy can be described in the following way: Borrowers have different profitability and riskiness of their investments but lenders do not have enough information to sort out borrowers based on profitability and riskiness. Gale and Hellwig (1985) also studied the credit rationing problem and studied the optimal form of the debt contract between borrowers and lenders. Furthermore, Williamson (1987) showed that the credit rationing arises if lenders suffer from monitoring costs. Besides from the effect of asymmetric information on borrowing limit, in the field of macroeconomics, there also
Natural borrowing limit
10948213
aspirations need not to be abandoned, only the playing-field of economic policy got narrowed by new classicals. While Keynes urged active countercyclical efforts of fiscal policy, these efforts are not predestined to fail not even in the new classical theory, only the conditions necessary for the efficiency of countercyclical efforts were specified by new classicals. Real business cycle theorist Bernd Lucke calls the new classical macroeconomics model the ″caricature of an economy" because its underlying assumptions exclude any non-rational behaviour or the possibility of market failure, prices are always fully flexible, and the market is always in economic equilibrium. The
New classical macroeconomics
2505409
can be viewed graphically in real time or retrieved for selected time periods. In macroeconomics, a common partial productivity measure is labour productivity. Labour productivity is a revealing indicator of several economic indicators as it offers a dynamic measure of economic growth, competitiveness, and living standards within an economy. It is the measure of labour productivity (and all that this measure takes into account) which helps explain the principal economic foundations that are necessary for both economic growth and social development. In general labour productivity is equal to the ratio between a measure of output volume (gross domestic product or
Productivity
246666
(total factor productivity). An increase in the savings rate leads to a temporary increase as the economy creates more capital, which adds to output. However, eventually the depreciation rate will limit the expansion of capital: savings will be used up replacing depreciated capital, and no savings will remain to pay for an additional expansion in capital. Solow's model suggests that economic growth in terms of output per capita depends solely on technological advances that enhance productivity. In the 1980s and 1990s endogenous growth theory arose to challenge neoclassical growth theory. This group of models explains economic growth through other factors,
Macroeconomics
12901627
Nerses Yeritsyan Nerses Yeritsyan (; born February 23, 1971 in Yerevan) is deputy president of the Central Bank of Armenia and former Minister of Economy. Since Armenia's independence he has actively been involved in the design and implementation of economic policies in Armenia. In 1988–1993 he studied at Yerevan State Institute of National Economy (degree in macroeconomics), then completed post-graduate studies at the Macroeconomics Department and received a PhD diploma in 1995. In 1993–1994 Yeritsyan worked as chief expert of National Assembly of Armenia, then worked at Central Bank of Armenia as assistant of President, head of monetary and lending
Nerses Yeritsyan
5128140
to 1989) Robert Fleming Professor of Finance and Investment at the University of Aberdeen (1989 to 1992) Professor of International Finance at the University of Dundee (1992 to 2004) Professor of International Finance at the University of Strathclyde, formerly Professor of International Macroeconomics (2004 to Present) Adam Smith Professor of Political Economy at the Adam Smith School of Economics and Finance in the University of Glasgow MacDonald has consistently been ranked amongst the top 2% of economists in the world by the IDEAS/RePEc ranking, and amongst the top 1% of all research in international finance and open economy macroeconomics. He
Ronald MacDonald (economist)
3586751
macroeconomics, and the Solow model of neoclassical growth theory. These models share several features. They are based on a few equations involving a few variables, which can often be explained with simple diagrams. Many of these models are static, but some are dynamic, describing the economy over many time periods. The variables that appear in these models often represent macroeconomic aggregates (such as GDP or total employment) rather than individual choice variables, and while the equations relating these variables are intended to describe economic decisions, they are not usually derived directly by aggregating models of individual choices. They are simple
Macroeconomic model
19691568
competition, parallel to a similar analysis for closed economies published around the same time by Amit Bhaduri and Stephen Marglin. Robert A. Blecker Robert A. Blecker is an American economist who is currently a Professor in the Department of Economics at American University in Washington, DC. He is also Affiliate Faculty of the American University School of International Service and Center for Latin American and Latino Studies, and a Research Associate at the Economic Policy Institute and Political Economy Research Institute. His research has made contributions to the fields of post-Keynesian and neo-Kaleckian macroeconomics, open economy macroeconomics, international trade theory
Robert A. Blecker
1451288
shocks, business declines are more of a monetary phenomenon. The explanation of fluctuations in aggregate economic activity is one of the primary concerns of macroeconomics. The main framework for explaining such fluctuations is Keynesian economics. In the Keynesian view, business cycles reflect the possibility that the economy may reach short-run equilibrium at levels below or above full employment. If the economy is operating with less than full employment, i.e., with high unemployment, Keynesian theory states that monetary policy and fiscal policy can have a positive role to play in smoothing the fluctuations of the business cycle. Beside the Keynesian explanation
Business cycle
363886
where the unit of analysis is the individual agent, such as a household or firm, and macroeconomics, where the unit of analysis is an economy as a whole. Another division of the subject distinguishes positive economics, which seeks to predict and explain economic phenomena, from normative economics, which orders choices and actions by some criterion; such orderings necessarily involve subjective value judgments. Since the early part of the 20th century, economics has focused largely on measurable quantities, employing both theoretical models and empirical analysis. Quantitative models, however, can be traced as far back as the physiocratic school. Economic reasoning has
Social science
2676049
term "orienting" a map from the Latin word "oriens" for "east". The assertion that T-O maps depict a "flat earth", while common, is unwarranted. The "circle of the lands" in a T-O can just as easily be fit onto the sphere of the Earth as onto a flat, disk-shaped Earth . The popularity of the Macrobian maps and the combination of T-O style continents on some of the larger Macrobian spheres illustrate that Earth's sphericity continued to be understood among scholars during the Middle Ages. Quadripartite maps represent a sort of amalgam of the zonal and T-O maps by illustrating
Mappa mundi
5285093
children—in a manner that appeases the ancestral spirits and is in harmony with the peace within the community. Properly following the traditions (ngitalio) in daily life will certainly lead to blessing. Blessings are understood to be an increase in wealth, whether livestock, children, wives or even food. It is only through proper relationships with God (Akuj) and the ancestors, proper protection from evil, and participation in the moral economy of the community that one can be blessed. Essentially, Turkana believe in the reality of a Supreme Being named Akuj. Not much is known about Akuj other than the fact that
Turkana people
446023
and "Madam Chairwoman". Some traditional texts use "Jesu", the Latin vocative form of "Jesus". One of the best-known examples is "Jesu, Joy of Man's Desiring". Historically, and in poetic or rhetorical speech, vocative phrases in English were prefaced by the word "O", as is often seen in the King James Version of the Bible: "O ye of little faith" (in Matthew 8:26). Another example is the recurrent use of the phrase "O (my) Best Beloved" by Rudyard Kipling in his "Just So Stories". The use of O may be considered a form of clitic and should not be confused with
Vocative case
7845670
banks and lenders tighten credit availability, even to companies that can afford loans, and the economy subsequently contracts. This slow movement of the financial system from stability to fragility, followed by crisis, is something for which Minsky is best known, and the phrase "Minsky moment" refers to this aspect of Minsky's academic work. "He offered very good insights in the '60s and '70s when linkages between the financial markets and the economy were not as well understood as they are now," said Henry Kaufman, a Wall Street money manager and economist. "He showed us that financial markets could move frequently
Hyman Minsky
557241
implements a synchronous interface by using non-blocking I/O internally, and scheduling another user thread or fiber while the I/O operation is in progress. Similar solutions can be provided for other blocking system calls. Alternatively, the program can be written to avoid the use of synchronous I/O or other blocking system calls. SunOS 4.x implemented "light-weight processes" or LWPs. NetBSD 2.x+, and DragonFly BSD implement LWPs as kernel threads (1:1 model). SunOS 5.2 through SunOS 5.8 as well as NetBSD 2 to NetBSD 4 implemented a two level model, multiplexing one or more user level threads on each kernel thread (M:N
Thread (computing)
2134721
past relationships or for economic forecasting. These models may include partial equilibrium microeconomics aimed at examining particular parts of an economy or economies, or they may cover a whole economic system, as in general equilibrium theory or in macroeconomics. Economists use these models to understand past events and to forecast future events, "e.g.," demand, prices and employment. Methods have also been developed for analyzing or correcting results from use of incomplete data and errors in variables. Good economic data are a precondition to effective macroeconomic management. With the complexity of modern economies and the lags inherent in macroeconomic policy instruments,
Economic data
9970918
Material flow management Material flow management (MFM) is a method of efficiently managing materials. "Material flow management is the goal oriented, efficient use of materials, material streams and energy. The goals are given by ecological and economical areas and by observing social aspects." (in "Protection of human beings and environment", by an Enquete Commission of the German Bundestag) This triple jump of environmental, social and economical orientation makes MFM a tool of high importance in the field of sustainable development (SD) and circular economy (CE). Seen historically, material flow management is a relatively new tool that can be understood as
Material flow management
408358
that this classification is artificial, and that Tamil usage is best understood if each suffix or combination of suffixes is seen as marking a separate case. Tamil nouns can take one of four prefixes: "i", "a", "u", and "e" which are functionally equivalent to the demonstratives in English. For example, the word "vazhi" (வழி) meaning "way" can take these to produce "ivvazhi" (இவ்வழி) "this way", "avvazhi" (அவ்வழி) "that way", "uvvazhi" (உவ்வழி) "the medial way" and "evvazhi" (எவ்வழி) "which way". Tamil verbs are also inflected through the use of suffixes. A typical Tamil verb form will have a number of suffixes,
Tamil language
15455678
Markov perfect equilibrium A Markov perfect equilibrium is an equilibrium concept in game theory. It is the refinement of the concept of subgame perfect equilibrium to extensive form games for which a pay-off relevant state space can be readily identified. The term appeared in publications starting about 1988 in the work of economists Jean Tirole and Eric Maskin. It has since been used, among else, in the analysis of industrial organization, macroeconomics and political economy. In extensive form games, and specifically in stochastic games, a Markov perfect equilibrium is a set of mixed strategies for each of the players which
Markov perfect equilibrium
11016303
reading Shakespeare "naively." "[O]nly when Shakespeare is taught as though he "said" something can he regain the influence over this generation which is so needed." Yet there is another problem within Bloom's solution: Shakespeare's plays can only really be understood as their author intended them to be if the "authentic intellectual tradition in which they were written" is recovered. For Bloom, this means knowing how Shakespeare's Renaissance audience would have understood the historical and political context of the plays' settings, as well as understanding that its conception of political life was not the bourgeois, unpoetic subject as modernity understands it,
Shakespeare's Politics (book)
2124785
act of saving constitutes an act of investment without shedding light on his grounds. A formulation of classical macroeconomics in three equations was given above as follows: The role of Say's Law in Keynes's interpretation of them can be seen if we split the second equation into two components: the first of which asserts the equilibrium between the supply and demand for investment, and the second of which identifies the demand for investment with the desired level of saving. In rejecting the second component Keynes denies that the total demand for goods in an economy is identical with its total
The General Theory of Employment, Interest and Money
608353
several universities with a post-Keynesian bent: In Canada, post-Keynesians can be found at the University of Ottawa and Laurentian University. In Germany, post-Keynesianism is very strong at the Berlin School of Economics and Law and its master's degree course: International Economics [M.A.]. Many German Post-Keynesians are organized in the Forum Macroeconomics and Macroeconomic Policies. The University of Newcastle in New South Wales, Australia, houses the Centre of Full Employment and Equity (CofFEE), an active educational, research and collaborative organisation whose focus is on policies "restoring full employment" and achieving an economy that delivers "equitable outcomes for all". CofFEE's work is
Post-Keynesian economics
6714509
on, a great variety of measures need to be collated and compared (which is also what business analysts do). The traditional hurdles in interpreting the statistical rate of profit were mainly that: The additional problem today is that, because the structure of modern capitalism is now different from half a century ago, a macroeconomics based on the traditional national accounting concepts can no longer credibly represent economic activity. Although the financial industry now "dominates" capital flows in the world economy, US government statisticians admit frankly that "Unfortunately, the finance sector is one of the more poorly measured sectors in national
Tendency of the rate of profit to fall