School of Economics |
0
home,blog,paged,paged-11,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,qode-content-sidebar-responsive,qode-theme-ver-11.1,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

the Solow’s model of growth. Introduction: Prof. Robert M. Solow made his model an alternative to Harrod-Domar model of growth. It ensures steady growth in the long run period without any pitfalls. Prof. Solow assumed that Harrod-Domar’s model was based on some unrealistic assumptions like fixed factor proportions,...

C.P. Chandrasekhar The Indian government’s effort to resolve by force its banking crisis with the help of the Insolvency and Bankruptcy Code (IBC) has hit yet another roadblock. Even when major secured creditors agree to a resolution plan, because they have to take a smaller haircut...

Wire-grid Cobb-Douglas productionsurface with isoquants A two-input Cobb–Douglas production function with isoquants In economics, more precisely econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs, particularly physical capital and labor, and the amount of output...

C. P. Chandrasekhar On 31 July, the United States Federal Reserve System (US Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that it would put...

Prabhat Patnaik The hallmark of a systemic, as distinct from a cyclical or sporadic, crisis of capitalism is that every effort to resolve the crisis within the broad confines of the system, defined in terms of its prevailing class configuration, only worsens the crisis. It is in this...

C. P. Chandrasekhar and Jayati Ghosh August 27, 2019 Two years after its implementation, the extent to which the Goods and Services Tax (GST) regime is an improvement upon the earlier system of multiple excise and sales taxes remains unclear. As of now, there are several worrying...

Tejvan Pettinger What do we mean by balanced economic growth? Also, is it important for an economy to promote a balanced approach to growth? A balanced economy suggests that economic growth is sustainable in the long-term, and the economy is also growing across different sectors – and...

The balanced growth theory can be explained with the views of: (a) Rosenstein Rodan and (b) Ragnar Nurkse and (c) Lewis (A) Views of Rosenstein Rodan: In 1943 article, Rosenstein Rodan propounded this theory but without using the term balanced growth. He stated that the Social Marginal Product (SMP) of...