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The gap between a Depression-like path for America's economy and its actual path represents a gain attributable to the macroeconomic knowledge attained since the 1930s.
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To the best of our knowledge, no published study has empirically analyzed the macroeconomic effects of fiscal policy in the context of an open, middle-income sub-Saharan African economy like South Africa using an integrated intertemporal model with such disaggregated production structure.
But the knowledge gained from these efforts was not incorporated into more generalised macroeconomic models.
However, to the best of authors' knowledge, there is no particular research on the application of fractal derivative modeling in macroeconomic models.
In the past, foreign investors were amply exposed to China's macroeconomic risks–such as concerns about the sustainability of its investment- driven strategy but they had very little knowledge about the actual workings of the Chinese companies.
To the best of our knowledge, the only existing study evaluating the 2010 earthquake's impact in Haiti adopts an indirect and macroeconomic approach (Cavallo et al. 2010).
On top of that existing knowledge, this paper adds a new finding that a stricter firing restriction disproportionately insulates older workers from macroeconomic shocks at the cost of a fluctuation in younger workers' unemployment rate.
Or take macroeconomic policy.
First, macroeconomic policy.
Macroeconomic policies are sound.
Macroeconomic trends should help.
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