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Topic: Closed economy

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	Planned economy - Wikipedia, the free encyclopedia
		Pre-modern economies (those existing before the industrial revolution) are more difficult to analyze by today's standards, but a number of them, particularly those of hydraulic empires, may be seen as having been centrally planned as well.
		There is a Trotskyist theory of the permanent arms economy, put forward by Michael Kidron, which leads on from the contention that war and accompanying industrialisation is a continuing feature of capitalist states and that central planning and other features of the war economy are ever present.
		A palace economy may be considered as a subsistence economy augmented with elements of command economy.
	en.wikipedia.org /wiki/Command_economy (1226 words)

	Informal economy - Wikipedia, the free encyclopedia
		In economics, the term informal economy refers to the general market income category (or sector) wherin certain types of income and the means of their generation are “unregulated by the institutions of society, in a legal and social environment in which similar activities are regulated.” (Portes et al.)
		Although the informal economy is often associated with developing countries —where up to 60% of the labor force works, all economic systems contain an informal economy in some proportion.
		Governments have tried to regulate (formalize) aspects of their economies for as long as surplus wealth has existed which is at least as early as Sumer.
	en.wikipedia.org /wiki/Informal_economy (1485 words)

	Fraunhofer ISI - Presseinformation (en) - On the Way to a Closed-Cycle Economy
		At least, 10 percent of the roughly 1,400 firms in the survey think that closed product cycles are a must, nearly half of the firms judge the approach to be "rather positive".
		Only 1 percent of the enterprises consider the closed-cycle economy to be a misinvestment.
		Apart from the conventional investments into environmental protection, closing of material and use cycles is considered a central approach to sustainable economics.
	www.isi.fhg.de /pr/2000engl/epr162000.htm (659 words)

	Closed Door Balers (Site not responding. Last check: 2007-10-29)
		Economy's regenerative hydraulic circuit maximizes GPM flow and minimizes horse power requirements for optimal energy efficiency and productivity.
		We offer several models of closed door balers, each designed to pass a wide variety of important tests, including production, space, bale size, and budget, to name a few.
		The closed door balers are built with heavy duty frames, most using four-inch, solid steel breaker beams and floor beams.
	www.idc-web.net /baler/closeddoor.htm (845 words)

	Brian Easton » OPEN AND CLOSED: Is the US Economy A Good Model for New Zealand?
		A closed economy is one which has no significant external sector, and where international trade and capital flows do not have a crucial role in the economy’s performance.
		The world is a closed economy, and the US economy is almost one (being so large that there are strong feedbacks as its external sector impacts on the rest of the world).
		In addition to the influences that affect a closed economy, a small open multi-sectoral economy such as New Zealand is continually impacted by external shocks.
	www.eastonbh.ac.nz /article342.html (896 words)

	Is China a "Closed" Economy? (Site not responding. Last check: 2007-10-29)
		While China's trade system still has important protectionist elements, those who argue that "China is a closed economy" fundamentally misunderstand the dramatic transformation that has occurred in China since the late 1970s.
		The "China is a closed economy" view also misunderstands the extent to which barriers to the import of goods into China have declined, particularly in the 1990s.
		In the last five years the collection rate has fallen to about 3 percent.The "China is a closed economy" view also misunderstands the extent to which barriers to the import of goods into China have declined, particularly in the 1990s.
	www.brook.edu /views/testimony/lardy/20000224.htm (1956 words)

	Russia: Rise of a Dual Economy by Pekka Sutela
		Ordinary market economies and transition economies usually have a M2 (the wide money stock, consisting of cash and deposits) to GDP ratio of 60 percent or higher, depending on characteristics of the financial system.
		An economy with several exchange systems is unstable and difficult to regulate by economic policies; with little money in use the possibilities of generating savings to be channeled into investment finance are modest at best.
		First, Russia should recognize that as a European economy it is medium-size at most, with a $370 billion GDP in 1998—about 2.5 times that of Finland—and a weight in the world economy that is smaller than, for instance, Sweden’s.
	www.worldbank.org /html/prddr/trans/so99/pgs20-22.htm (1459 words)

	Closed Economy Analysis
		And indeed, when analyzing complex problems it is still sometimes useful to begin the thought process under an assumption that the economy is closed and then extend the analysis to encompass the interrelationships between that economy and the rest of the world.
		Closed economy analysis is also useful in thinking about how a hypothetical "world monetary authority" should behave.
		Despite these caveats, it makes little sense to analyze macroeconomic issues in the typical country under the assumption that its economy is closed to trade and, especially, to capital movements with respect to the rest of the world.
	www.chass.utoronto.ca /~floyd/cla.html (1961 words)

	'Closed Economy'? The World Is a Closed Economy! (Understanding Interest Rate Changes) (Site not responding. Last check: 2007-10-29)
		When the 10-year Treasury yield jumped to an intraday peak of 4.6% on Aug. 1 from close to 3%, we heard that soaring interest rates endangered the financial markets.
		AS for a "closed system" globally, there is, IMHO some truth to that.
		The US has always been a world trader, if not a free trader and some portions of our economy are greatly influenced by other countries.
	www.freerepublic.com /focus/f-news/962962/posts (593 words)

	OpenEconomyMultiplierDefinition
		Since one is simply an extension of the other, we shall start with the closed economy expenditure multiplier and then expand it for the other.
		First of all, note that the open economy expenditure multiplier is smaller than the closed economy expenditure multiplier.
		This is a graphical representation which demonstrates that the open economy multiplier is less than the closed economy multiplier.
	www.stchas.edu /faculty/gbowling/macro/OpenEconomyMultiplierDerivation.html (1509 words)

	The Role of Consumption Substitutability in the International Transmission of Shocks - Federal Reserve Bank of New York (Site not responding. Last check: 2007-10-29)
		This paper develops a general framework to analyze the welfare consequences of monetary and fiscal shocks in an open economy, focusing on the role of the degree of substitutability between goods produced in different countries.
		We find that an expansionary shock that would be beneficial in a closed economy can have an adverse "beggar-thyself" effect in the country where it takes place, or an adverse "beggar-thy-neighbor" effect on its neighbor.
		In addition, a closed economy can be an imperfect approximation of a large open economy when there is little substitutability between goods produced in different countries.
	www.newyorkfed.org /research/staff_reports/sr67.html (177 words)

	Ecn 102
		Saving must equal planned investment at all times in a closed economy with no government.
		Saving must equal actual investment at all times in a closed economy with no government.
		Planned investment must equal actual investment in equilibrium in a closed economy with no government.
	www2.hawaii.edu /~yand/pracexam2.htm (450 words)

	NCPA - Study #273: Aging, the World Economy and the Coming Generational Storm
		In the closed economy baseline, interest rates increase the most in Europe and the least in the United States.
		The baseline path of the open economy, therefore, in contrast to the respective closed economy cases, allows for more capital accumulation for Europe and less for the United States.
		Roughly the reverse happens in Europe, where the long-run real wage is about 3 percent higher than in the closed economy model, reflecting the relatively smaller reduction in the capital stock thanks to the import of capital from the United States (see Table V).
	www.ncpa.org /pub/st/st273/st273e.html (497 words)

	Open the closed policy
		The point is that the management of capital flows and their impact have to be now dealt with in a completely different context involving the rates of return in different markets, movements in currency, credit, trade, capital flows, inflation rate, exchange rate, refinancing and transactions in foreign exchange.
		At the same time, in an open economy, fiscal policy, which has been the driving force behind the management of a closed economic activity, will tend to be less effective now.
		In an open economy, an increase in domestic demand has a smaller effect on output than in a closed economy, as well as an adverse effect on the trade opens the economy - the smaller the effect on output, larger is the adverse effect on the trade balance.
	www.rediff.com /money/2004/apr/15guest1.htm (721 words)

	Feature (Site not responding. Last check: 2007-10-29)
		I have noticed some politicians trying to interpret 'balanced economic policy' as 'closed economy' for their personal benefits and to mislead the people of this country.
		This does not mean that the Government is going back to a closed economy, something like which we had in 1970-1977.
		It is a fact that we cannot go back to a closed economy at least for one reason.
	www.dailynews.lk /2005/09/26/fea01.htm (2099 words)

	[No title] (Site not responding. Last check: 2007-10-29)
		Drawing the usual closed economy full-employment model, we see that a rise in world saving shifts the \ldblquote S-bar\rdblquote line to the right.
		The investment incentives don\rquote t affect equilibrium investment in a closed economy, if the supply of saving is fixed.
		The key intuition about the large open economy case is that most results will be somewhere between the small open economy and the closed economy case}{.
	www-personal.umich.edu /~barsky/ps1ans.doc (1239 words)

	The Ricardian Trade Model
		The idea here is to compare the best situation in a closed economy with that in an open economy.
		In a closed economy, production must be equal to consumption in each industry.
		Thus, a closed economy's problem is to choose y
	www.econ.iastate.edu /classes/econ355/choi/ric1.htm (404 words)

	[No title]
		The effect of a monetary injection on aggregate demand is much stronger in an open economy as compared to a closed economy.
		The size of shift in AD depends on the size of the k and the size of the crowding-out effect on investment.
		Identifying the shock and its affects and determining an appropriate response is often difficult.
	web.uvic.ca /~ramanik/104s/chapter13macro.ppt (2471 words)

	MPSGE: Simple Closed Economy Examples
		Positive numbers represent the value of commodity flows into the economy (sales or factor supplies), while negative numbers represent the value of commodity flows out of the economy (factor demands or final demands).
		With this interpretation, a row sum is zero if the total amount of commodity flowing into the economy equals the total amount of commodity flowing out of the economy.
		A close familiarity with CES algebra is useful but not essential.
	www.mpsge.org /markusen/m1.htm (3227 words)

	Part of airport economy lot closed - Friday, 10/15/04 (Site not responding. Last check: 2007-10-29)
		Nashville International Airport is blocking off part of its economy parking lot beginning today because of low parking demand in the fall and winter.
		The move is part of a plan that will shrink or expand the available parking spots in the airport's least expensive lot in response to the ebb and flow of seasonal travel patterns.
		Although travel is up at the airport this year over last year, an airport study found that many of the 3,965 spaces in the economy lot go unused.
	www.tennessean.com /business/archives/04/09/59686132.shtml?Element_ID=59686132 (333 words)

	Leontief Economic Model
		The mathematics model for the economy of a country or a region is based on the various sectors of this economy.
		Assume that each industry in the economy has two types of demands: an external demand (from outside the system) and an internal demand (demand placed on one industry by another in the same system), the Leontief model is a system of linear equations.
		The Leontief model was invented in the 30's by Wassily Leontief who developed an economic model of the United States economy by dividing it into 500 economic sectors.
	math.fullerton.edu /mathews/n2003/LeontiefModelMod.html (356 words)

	LEONTIEF CLOSED INPUT-OUTPUT MODEL
		Leontief (see §3.3 of the textbook) closed models are used to study the prices of goods, and interdependencies of a group of businesses or industries.
		The model is often used to study the economy of an entire country or to study the interactions between a smaller group of suppliers and consumers, or to study the interactions between different parts of one organization.
		Suppose the fraction of the product of each producers consumed by the farmer, builder, and tailor (including the fraction of their own product consumed by themselves) is given by the matrix
	home.cc.umanitoba.ca /~umducaan/Leontief.htm (722 words)

	Use the IS-LM model to demonstrate the effects upon a closed economy of:(a) a fiscal expansion: and (b) a monetary ...
		Use the IS-LM model to demonstrate the effects upon a closed economy of:(a) a fiscal expansion: and (b) a monetary expansion.
		Use the IS-LM model to demonstrate the effects upon a closed economy of: (a) a fiscal expansion: and (b) a monetary expansion.
		To download the original Word document, as well as all 80,927 other GCSE, A Level and University essays immediately then register here right away - from only 6p per day.
	www.coursework.info /_L46453.html (354 words)

	Mobile Economy \| Visions & scenarios (Site not responding. Last check: 2007-10-29)
		It will be fascinating to see if the closed or open Mobile Economy is going to win.
		The mobile meta-competition actually is the battle between the closed MNO-controlled vs. the open PC-like Mobile Economy.
		The closed MNOs win the battle while Nokia and Microsoft just have to adapt to such an unfortunate reality.
	www.mobileeconomy.de /visions.php3 (617 words)

	A Glimpse of the World: An open economy, a closed society (Site not responding. Last check: 2007-10-29)
		An open economy, a closed society (Bruce Bueno de Mesquita and George W. Downs IHT/ Foreign Affairs)
		NEW YORK When Deng Xiaoping opened up China’s economy more than 25 years ago, the prevailing view in much of the West was that his reforms signaled the beginning of the end for the country’s authoritarian regime.
		A Glimpse of the World is a hirefrank production using Moveable Type and Gallery with XHTML and CSS.
	www.howardwfrench.com /archives/2005/08/17/an_open_economy_a_closed_society (1199 words)

	Monetary Policy Rules in Open Economies
		While an extensive literature has been studying the performance of alternative monetary rules in large closed economies, only recently attention has shifted towards the analysis of monetary policy rules in an open economy setting.
		For a collection of the main contributions to the closed economy literature we refer to John Taylor's home page at Stanford University.
		Ghironi, Fabio (2000b), “Alternative Monetary Rules for a Small Open Economy: The Case of Canada,” WP 466, Department of Economics, Boston College.
	www.geocities.com /monetaryrules/mpoe.htm (1941 words)

	SSRN-The 'New Keynesian' Phillips Curve: Closed Economy versus Open Economy by Assaf Razin, Chi-Wa Yuen
		The Paper extends Woodford's (2000) analysis of the closed economy Phillips curve to an open economy with both commodity trade and capital mobility.
		We show that consumption smoothing, which comes with the opening of the capital market, raises the degree of strategic complementarity among monopolistic competitive suppliers, thus rendering prices more sticky and magnifying output responses to nominal GDP shocks.
		Razin, Assaf and Yuen, Chi-Wa, "The 'New Keynesian' Phillips Curve: Closed Economy versus Open Economy" (November 2001).
	papers.ssrn.com /sol3/papers.cfm?abstract_id=294240 (378 words)

	PBS YOU
		Expands the scope of study from a single-nation, closed economy model to a global, open economy approach.
		Diagrams the Market for Loanable Funds in an open economy, discusses the Market for Foreign Currency Exchange, then combines these two markets into one model to predict the impact of changes in policy or in the behavior of consumers and firms.
		Shifts course emphasis from the long run to the short run, laying the foundations for the analysis of economic stabilization policy.
	www.pbs.org /pbsyou/schedules/description.html?nola_root=IMAC&date=2002-11-21 (351 words)

	India continues to be closed economy - Sify.com
		India continues to be closed economy - Sify.com
		The United States today said India continued to be ''one of the most closed economies'' offering little access to international markets, resulting in trade distortions.
		India has already rejected the American charge saying that if its economy was closed the imports would not have grown by 25 per cent in April to January period of 2003-04.
	sify.com /finance/fullstory.php?id=13427238 (238 words)

	The data in the first two columns below are for a closed economy (Site not responding. Last check: 2007-10-29)
		The data in the first two columns below are for a closed economy.
		(b) Including the international trade figures for exports and imports, calculate net exports and determine the equilibrium GDP for an open economy.
		Assume the level of investment is $8 billion and independent of the level of total output.
	www.gpc.edu /~jorr/econ2105/study/study4answers.htm (754 words)

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