What determines long-run macroeconomic stability?
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What determines long-run macroeconomic stability? democratic institutions by Shanker Satyanath

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Published by International Monetary Fund, Research Dept. in [Washington, D.C] .
Written in English

Subjects:

  • Economic stabilization -- Developing countries.,
  • Democracy -- Economic aspects -- Developing countries.

Book details:

Edition Notes

Statementprepared by Shanker Satyanath and Arvind Subramanian.
SeriesIMF working paper -- WP/04/215
ContributionsSubramanian, Arvind., International Monetary Fund. Research Dept.
The Physical Object
Pagination51 p. :
Number of Pages51
ID Numbers
Open LibraryOL21154686M

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Downloadable! We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and statistically significant causal impact on macroeconomic stability. Surprisingly the most robust relationship of the three is for democratic institutions. We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and statistically significant causal impact on macroeconomic stability. Surprisingly the most robust relationship of the three is for democratic institutions. A one standard deviation increase in democracy can. We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and. CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and statistically significant causal impact on macroeconomic stability. Surprisingly the most robust relationship of the three is for.

Thus, a country’s growth can be broken down by accounting for what percentage of economic growth comes from capital, labor and technology. It has been shown, both theoretically and empirically, that technological progress is the main driver of long-run growth. The explanation is . Macroeconomists hope that their models help address two key areas of research: the causes and consequences of short-run fluctuations in national income (otherwise known as the business cycle) and what determines long-run economic growth. Key Terms. deflation: A decrease in the general price level, that is, in the nominal cost of goods and services.   In economics, the macroeconomic equilibrium is a state where aggregate supply equals aggregate demand. LEARNING OBJECTIVES Analyze aggregate demand and supply in the long run KEY TAKEAWAYS Key Points * Equilibrium is the price -quantity pair where. -Long-run growth models and business cycle models are the same.-The level of saving is important for long-run growth.-In the past century, the population of the United States has grown faster than output.-Since World War II, the economy of Argentina has grown faster than the economy of Canada.

  In the long run, new firms will likely enter the hockey stick market to meet the increased demand. Short Run vs. Long Run in Macroeconomics One of the reasons the concepts of the short run and the long run in economics are so important is that their meanings vary depending on the context in which they are used. which also is true in. suppose that the US book publishing industry has developed an inexpensive way to decrease the thickness of the pages per book. government intervention is essential to economic stability and eliminating cyclical unemployment- keynesian. -the ability of the economy to produce determines long-run output. this is independent of price.   Economic equilibrium is the combination of economic variables (usually price and quantity) toward which normal economic processes, such as supply and demand, drive the term economic. Macroeconomic stability and growth The recent financial crisis has highlighted the damaging impacts on living standards that can result from macroeconomic instability.