Models | Economics Discussion

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion! With the existence of stagflation, new economic models appeared during 1970s. M. Friedman and E.S. Phelps sought to explain the phenomenon of stagflation (or the instability of the Phillips curve) in terms of inflationary expectations; changes in inflationary expectations cause shifts in the Phillips curve. According to the Friedman-Phelps model, the [...]

By Suman K|2018-08-13T06:52:03+05:30August 13, 2018|Friedman Phelps Model|Comments Off

Technological Gap Model of International Trade | Economics

The Heckscher-Ohlin theory, like the earlier theories of trade, assumed that the techniques of production were given and fixed. Such an assumption can be valid only in a static system. In actual dynamic realities, there can be no place for such an assumption. The technical changes have highly significant effects on production and trade. A technological change may be expressed [...]

By Aahana S|2018-03-15T11:34:36+05:30March 15, 2018|Models|Comments Off

Oligopolistic Models of Intra-Industry Trade | Economics

In case of intra-industry trade models, it was assumed that the number of firms in the manufacturing sector in each country was large. There is another group of models in which the number of firms in the manufacturing sector is supposed to be small. Such models are termed as the oligopolistic models. The most significant element in the oligopolistic models [...]

By Aahana S|2018-03-15T11:34:35+05:30March 15, 2018|Models|Comments Off

Tag Archives | Models

Friedman-Phelps Model of Stagflation: Equations, Curves, Criticisms and Conclusion

Technological Gap Model of International Trade | Economics

Oligopolistic Models of Intra-Industry Trade | Economics