hi anyone can help me using layman term define some of the
following, best if have some empirical evidence to use:
1) Policy ineffectiveness proposition
2) Hysteresis under unemployment
3) Time-inconsistency
4) Golden rule of saving rate (under solow growth)
5) Sacrifice Ratio
thanks a million :)
Don't be lazy.
All the answers to your 5 questions can be found easily by
googling it.
For empirical evidence, you can easily found them by using the
Economics Search
engine Econlit. However, you will need to have access to the
digital Library of
NUS.
Should you need to have in depth studies on these
questions, you can refer to
the compulsory macroeconomics textbook for postgraduate
economics students
ie Advanced Macroeconomics by David Romer. However,
you will need to have
advanced mathematical background especially on the theory
of optimal control and
dynamic optimisation knowledge to understand the materials
covered in the
textbook. The thorough references at the back of the textbook
will direct you to the
empirical evidence, origin and further and related journal
articles too.
