Sentence examples for the efficient level from inspiring English sources

By contrast, when the young have more influence, the economy has more capital than the efficient level, wages are relatively high, and the market solution requires a low rate of return from money holdings that is, a relatively high inflation rate.A new IMF working paper turns up similar evidence: that monetary-policy effectiveness falls as a population ages.

We show that there exists a unique equilibrium level of public good provision and compare it with the efficient level.

We find that when the outside option is binding investment levels fall short of the efficient level, but holdup is less of a problem than predicted when the outside option is non-binding.

For a given quality, marginal cost is constant and equals c for s = 0. Quality reductions result in positive but diminishing cost savings v(s) with v(0) = 0, v' > 0 and v″ < 0. Glazer and McGuire show that a profit maximizing physician always sets the service quality for the price-paying patients on the efficient level determined by v'(s*) = 1.

As in the previous model, a cooperative couple chooses the efficient level of the public good, in this case subject to the production function and the time and budget constraints: T = t 1 + h 1 = t 2 + h 2 (4a) w 1 h 1 + w 2 h 2 = x 1 + x 2 + p G G (4b).

which permits utility to be transferable within the household through reallocations of the private good.6 A married couple consisting of person 1 and person 2 is assumed make decisions cooperatively and, with transferable utility, the efficient level of the household public good is independent of the distribution of income that household bargaining determines.

Unfortunately, countries usually spend less than the efficient levels of spending per unemployed individual.

If information gathering costs are large, the principal will design a contract in which output levels are different from the efficient levels in each of the possible states.

We show that if an innovator cannot manipulate market signals, then the efficient levels of innovation can be uniquely implemented without deadweight losses – for example, by using prizes.

That phase-in will continue into January 2004, allowing the agency to calibrate service to the most efficient level once the PATH station is restored.

According to Conservapedia.com, an online encyclopedia with a conservative orientation, Mr. Coase's "extraordinary insight was that the free market always reaches the most efficient level of productive activity, in the absence of transaction costs".