Above full employment equilibrium is a macroeconomic term describing an economy’s gross domestic product (GDP) as higher than average, exceeding its long-run potential level, and causing ...

These phenomena will continue until long-run equilibrium is reached. It is important to note this distinction between types of profits when considering the presence of profits in perfect markets.

As oil markets worked their way back to long-run equilibrium by bringing on vast new oil supplies, and while OPEC grotesquely overplayed its hand as a cartel, it unleashed a flood of at least 8.0 ...

3. If each firm is initially earning positive profits in a perfectly competitive industry, then there will be entry of new firms, price will fall, and the output of each firm will fall in the long-run ...

At that time, they seemed very confident that rates should return to “normal” over 3 years and also that they knew, with reasonable certainty, what that long run equilibrium rate would be.

Using the FEER approach we investigate the long-run equilibrium paths of the real effective exchange rates (REERs) of countries in the West African Economic and Monetary Union (WAEMU). In an attempt ...

In a new column, I try to go beyond Niall Ferguson’s homophobia and explain what Keynes meant when he said, “In the long run we are all dead.” The full line is, “In the long run we are all ...

Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate Drawing on the existing literature, I estimate a long-run equilibrium real ...