Proposition 2 If allocation c is feasible for autarkic
production, then there is a technically feasible cooperative production plan with sufficient output per capita to provide every investor with the same level of consumption at both dates, in every state, as c provides.
The taxed country is able to consume more at a lower price than in the autarkic
case, while the value of total output rises in Notax.
The other is the autarkic
(no trade) steady state, where fiat currency has no value (currency is not held) and the price level grows without bound.
d] to make the best of it in the autarkic
As stockpiles of key materials dwindled and the China conflict dragged on, Japanese officials could not accept an imposed settlement that would deny access to vital resources, force withdrawal from China, and destroy the creation of a self-sustaining autarkic
system in which economic well-being and national security were inseparable.
In both a trading and an autarkic
world there will be about as many jobs as job seekers.
Higher money growth rates shrink the range of low nominal interest rates for which autarkic
saving is optimal, but do not eliminate it.
If Iran is really driven by autarkic
motives, it makes little sense to move to nuclear power and more sense to rely on the immense reserves of oil and gas that Iran is sitting on, said the study by the Los Alamos National Laboratory and the Pacific Northwest National Laboratory.
The economically rational stationary bandit has a long time horizon and is, in effect, a 'development planner,' whose 'best' strategy is to aim for rapid industrialisation, high investment rates, and an autarkic
To avoid punishment, we assume that a dissembling type 1 agent absconds with his loan, becoming autarkic
and financing old-age consumption by storing the proceeds of his borrowing.
The international division of labour in 1990 was certainly an unnatural one because half of the world's workforce had been kept out of it by the SIC's autarkic
For example, Hoxby (1997b) models integration as the opening of trade among autarkic
colleges of varying quality; trade is found to reduce the monopsony power of universities over local consumers and intensify their competition for high-quality students who, because they are both inputs into and consumers of a college education, can improve institutional quality.