The Lucas Critique
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According to the Phillips curve equation, unemployment rate and inflation rate are negatively related. Therefore, there exists a tradeoff between…
Developing countries and free trade
Economists have different views on free international trade. Some believe that free trade helps in a numerous ways like lower…
Do unemployment schemes really benefit?
Suppose a government announces unemployment benefits to all the unemployed workforce of the country. What will be the reaction of…
Mundell – Fleming Model
Robert Mundell developed an analysis of perfect capital mobility under fixed exchange rates in 1960s which is named as Mundell…
U.S. Financial Crisis
U.S. Financial crisis is an important event in the history of world economy. Most of the people believe that the…
Devaluation or depreciation?
Most of the people use the terms ‘devaluation of currency’ and ‘depreciation of currency’ synonymously. The reason could be because…
Neuroeconomics
Neuroeconomics is the field of economics that explains the human decision making behavior. It explains the ability of humans to…
Emerging Industry of Yoga
“Yoga teaches us to cure what need not be endured and endure what cannot be cured” Yoga was born in…
Ricardian Equivalence
David Ricardo was a British political economist. One of his famous works is the Ricardian equivalence. According to Ricardian equivalence,…
Special Economic Zone
A Special economic zone is defined as an economic zone in any particular area of a country where trade rules…