Dictionary
be microeconomic
adjective
Of, or relating to, a .
Exact(1)
Greater macroeconomic stability is a prize well worth having.But the euro's biggest benefits may be microeconomic.
Similar(59)
The euro has, in effect, exposed Italy's true weaknesses, which are microeconomic in nature.
Rather they are microeconomic, reflecting the failure of several countries to reform rigid labour markets and overly regulated product markets.
"They are microeconomic experts, heavy on data and computing tools like machine learning and writing algorithms," said Tom Beers, executive director of the National Association for Business Economics.
"What's missing in his proposals are microeconomic reforms: to deal with structural problems that would make it easier for women to contribute to the economy and for families to have children," he says.
The rich should tread carefully with fiscal consolidation: sensible budget repairs should be less about short-term deficit-slashing and more about lasting fiscal reforms, from raising pension ages to trimming health-care costs.Second, and just as important, is microeconomic reform.
The benefits are microeconomic, consisting of potential gains in trade and growth as the costs of changing currencies and exchange-rate uncertainty are removed.In 2003, for example, Britain's Treasury ruled out membership because the country's economy had not yet converged sufficiently with that of the euro area to be able to live with interest rates set in Frankfurt.
The major economic impact is microeconomic.
In the big economies they claim they will cut their deficits substantially in 2011, but there are few details, even on the appropriate mix of tax reforms and spending cuts.The hardest part, however, will be the microeconomic reforms required to smooth the macroeconomic adjustments.
He concludes that "[f]actor substitution is a microeconomic phenomenon, and is best examined by looking at microeconomic data" (p. 612).
It concludes that trade accounted for 20% of the gain in America's GDP per person between 1950 and 2003.Other techniques are more microeconomic, and try to add up the benefits to consumers and the gains to firms.
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