1. Output gaps and productivity slowdown
... While low policy rates may have been consistent with low inflation, they might have contributed to excessive credit growth, build-up of asset bubbles and misallocation of resources ...
... While low policy rates may have been consistent with low inflation, they might have contributed to excessive credit growth, build-up of asset bubbles and misallocation of resources ...
Do We Have a “New” Macroeconomy
... the issues involved in thinking about our modern technological revolutions, structural change, and macroeconomic performance. After this first, introductory section, section II of this paper steps back and provides a historical perspective on technological revolutions, structural change, and macroec ...
... the issues involved in thinking about our modern technological revolutions, structural change, and macroeconomic performance. After this first, introductory section, section II of this paper steps back and provides a historical perspective on technological revolutions, structural change, and macroec ...
Productivity and Business Policies - CEP
... The UK is slowly recovering from the Great Recession, but faces a productivity crisis. If the fall in productivity reflects permanent supply-side fractures, this poses a serious problem for long-term prosperity, especially since the UK has suffered lower productivity than its peers for many years. W ...
... The UK is slowly recovering from the Great Recession, but faces a productivity crisis. If the fall in productivity reflects permanent supply-side fractures, this poses a serious problem for long-term prosperity, especially since the UK has suffered lower productivity than its peers for many years. W ...
What are the consequences of an ageing population for Australia`s
... from 0.86% of GDP currently to 2.24% in the same period17, though projections are sensitive to assumptions regarding technology, demand and sector productivity..18 Encouraging productivity and cost-effectiveness in these sectors will become vital to maintaining fiscal control, though any reduction ...
... from 0.86% of GDP currently to 2.24% in the same period17, though projections are sensitive to assumptions regarding technology, demand and sector productivity..18 Encouraging productivity and cost-effectiveness in these sectors will become vital to maintaining fiscal control, though any reduction ...
Macro measurements – Chapter 7
... Y = real GDP = quantity of output produced L = quantity of labor so productivity = Y/L (output per worker) ...
... Y = real GDP = quantity of output produced L = quantity of labor so productivity = Y/L (output per worker) ...
American Economic Association - Center for Economic Strategy and
... sixteenth century, and the eighteenth century brought the ship's chronometer which revolutionalized water transport by permitting calculation of longitude. Yet, none of this led to rates of productivity growth anywhere near those of the nineteenth and twentieth centuries. Nonhistorians do not usuall ...
... sixteenth century, and the eighteenth century brought the ship's chronometer which revolutionalized water transport by permitting calculation of longitude. Yet, none of this led to rates of productivity growth anywhere near those of the nineteenth and twentieth centuries. Nonhistorians do not usuall ...
Productivity Growth, Convergence, and Welfare: What
... sixteenth century, and the eighteenth century brought the ship's chronometer which revolutionalized water transport by permitting calculation of longitude. Yet, none of this led to rates of productivity growth anywhere near those of the nineteenth and twentieth centuries. Nonhistorians do not usuall ...
... sixteenth century, and the eighteenth century brought the ship's chronometer which revolutionalized water transport by permitting calculation of longitude. Yet, none of this led to rates of productivity growth anywhere near those of the nineteenth and twentieth centuries. Nonhistorians do not usuall ...
FREC 410 Comparative Advantage (Ricardian Model) International Ag. Trade & Marketing
... Recall: O.C of Cheese is the # of gallons of Wine the economy give up to produce an extra pound of cheese " O.C. of C is: aLC/ aLW ! 1 lb. of C cost: aLC person-hours ! 1 gal. of W cost: aLW person-hours ...
... Recall: O.C of Cheese is the # of gallons of Wine the economy give up to produce an extra pound of cheese " O.C. of C is: aLC/ aLW ! 1 lb. of C cost: aLC person-hours ! 1 gal. of W cost: aLW person-hours ...
The Economic and Social Impact of Telecommunications Output: Empirical Evidence in the US and Europe
... and quality of life (driven by availability of networks in schools, hospitals, public administration, etc.) ...
... and quality of life (driven by availability of networks in schools, hospitals, public administration, etc.) ...
Real Business Cycles
... Falling employment lowers the productivity of capital (labor and capital are compliments while a falling capital stock raises the productivity of capital (diminishing MPK). During the downturn, the marginal product of capital falls which continues to lower investment. ...
... Falling employment lowers the productivity of capital (labor and capital are compliments while a falling capital stock raises the productivity of capital (diminishing MPK). During the downturn, the marginal product of capital falls which continues to lower investment. ...
Production and Growth
... Economists studying production and growth often like to start by thinking about Robinson Crusoe, a sailor stranded on a desert island. Everything Crusoe consumes, he must produce himself. What determines Cru ...
... Economists studying production and growth often like to start by thinking about Robinson Crusoe, a sailor stranded on a desert island. Everything Crusoe consumes, he must produce himself. What determines Cru ...
Chapter 9
... c) Target high-technology firms. The ones that should be subsidized are high-technology industries in which the nation can enjoy a temporary advantage over its competitors. This is a very risky strategy, because it is unclear that government is better at picking winners than the investment community ...
... c) Target high-technology firms. The ones that should be subsidized are high-technology industries in which the nation can enjoy a temporary advantage over its competitors. This is a very risky strategy, because it is unclear that government is better at picking winners than the investment community ...
The Australian economy in the 1990s
... productivity growth stems mainly from IT production and investment – as de Long suggests – then given the flagging political enthusiasm for micro-economic reform in Australia this apparent divergence may be a warning of the shape of things to come. Gruen and Stevens raise the “important question for ...
... productivity growth stems mainly from IT production and investment – as de Long suggests – then given the flagging political enthusiasm for micro-economic reform in Australia this apparent divergence may be a warning of the shape of things to come. Gruen and Stevens raise the “important question for ...
The Yen and Japan`s Economy, 1985-2007
... • The data show productivity in tradables relative to nontradables rises when real yen depreciates. • Nontradables productivity growth is less volatile than in tradables. • Perhaps since 1990, a rise in the relative price of nontradables causes higher productivity growth in that sector – the traditi ...
... • The data show productivity in tradables relative to nontradables rises when real yen depreciates. • Nontradables productivity growth is less volatile than in tradables. • Perhaps since 1990, a rise in the relative price of nontradables causes higher productivity growth in that sector – the traditi ...
Production and Growth - Emporia State University
... • A country’s standard of living depends on its ability to produce goods and services. • Within a country there are large changes in the standard of living over time. • In the United States over the past century, average income as measured by real GDP per person has grown by about 2 percent per year ...
... • A country’s standard of living depends on its ability to produce goods and services. • Within a country there are large changes in the standard of living over time. • In the United States over the past century, average income as measured by real GDP per person has grown by about 2 percent per year ...
Growth accounting_2
... force. Intuitively, the impact of any given factor of production on output growth is proportional to its share in output. Assume, for example, that the capital share is one-third and the labor share is two-thirds. If the capital stock increased by three percent in a given year, this growth would tra ...
... force. Intuitively, the impact of any given factor of production on output growth is proportional to its share in output. Assume, for example, that the capital share is one-third and the labor share is two-thirds. If the capital stock increased by three percent in a given year, this growth would tra ...
Bibliography - Innovation, Science and Economic Development
... Jorgenson, Dale W. and Masahiro Kuroda. “Productivity and International Competitiveness in Japan and the United States, 1960–1985,” in Productivity, Volume 2, International Comparisons of Economic Growth. Edited by Dale W . Jorgenson, MIT Press, 1995. Jorgenson, Dale W., Masahiro Kuroda, and Mieko N ...
... Jorgenson, Dale W. and Masahiro Kuroda. “Productivity and International Competitiveness in Japan and the United States, 1960–1985,” in Productivity, Volume 2, International Comparisons of Economic Growth. Edited by Dale W . Jorgenson, MIT Press, 1995. Jorgenson, Dale W., Masahiro Kuroda, and Mieko N ...
Productivity and Related Economic
... percentage of vacation time Length of work week is partly a mirror image of the 1960-85 increase in female LFPR Women have been moving toward full-time jobs But American exceptionalism regarding the length of vacations Consider changing from 0.0 to -0.1 percent ...
... percentage of vacation time Length of work week is partly a mirror image of the 1960-85 increase in female LFPR Women have been moving toward full-time jobs But American exceptionalism regarding the length of vacations Consider changing from 0.0 to -0.1 percent ...
Competitiveness
... Key enabling technologies New technologies of systemic relevance that facilitate innovation in many other industries Selected areas ...
... Key enabling technologies New technologies of systemic relevance that facilitate innovation in many other industries Selected areas ...
ch17 - Whitman People
... By the time World War II began, over 133,000 Jewish émigrés found their way to the United States. Among them were several thousand academics, Among the émigrés were a number of chemists. The chemists brought with them their considerable human capital. Moser and her colleagues then compared the rate ...
... By the time World War II began, over 133,000 Jewish émigrés found their way to the United States. Among them were several thousand academics, Among the émigrés were a number of chemists. The chemists brought with them their considerable human capital. Moser and her colleagues then compared the rate ...
HW2 Solution Key - uc
... Answer: With the doubling of the number of workers in Home, it can now produce 200 = 4 x 50 bushels of wheat if it concentrates all resources in the production of wheat or it could product 100 = 2 x 50 yards of cloth by devoting all resources to the production of cloth. The PPF shifts out for both w ...
... Answer: With the doubling of the number of workers in Home, it can now produce 200 = 4 x 50 bushels of wheat if it concentrates all resources in the production of wheat or it could product 100 = 2 x 50 yards of cloth by devoting all resources to the production of cloth. The PPF shifts out for both w ...
Productivity and the Role of Technology in Emerging Markets
... more rapidly in recent decades. Late nineteenth-century innovations such as telephones and electricity took decades to disseminate from western to non-western countries. By contrast, more recent technologies such as cellphones and the Internet spread to these economies at a far higher rate. ...
... more rapidly in recent decades. Late nineteenth-century innovations such as telephones and electricity took decades to disseminate from western to non-western countries. By contrast, more recent technologies such as cellphones and the Internet spread to these economies at a far higher rate. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... different, major sector and industry-level output measures, a major goal of this chapter is to take some steps to document and understand these differences. The chapter first reviews the theoretically ideal production account, that is, one that includes capital services so that the account can be used ...
... different, major sector and industry-level output measures, a major goal of this chapter is to take some steps to document and understand these differences. The chapter first reviews the theoretically ideal production account, that is, one that includes capital services so that the account can be used ...
HW2 Solution Key - uc
... Answer: With the doubling of the number of workers in Home, it can now produce 200 = 4 x 50 bushels of wheat if it concentrates all resources in the production of wheat or it could product 100 = 2 x 50 yards of cloth by devoting all resources to the production of cloth. The PPF shifts out for both w ...
... Answer: With the doubling of the number of workers in Home, it can now produce 200 = 4 x 50 bushels of wheat if it concentrates all resources in the production of wheat or it could product 100 = 2 x 50 yards of cloth by devoting all resources to the production of cloth. The PPF shifts out for both w ...
Homework Assignment 1
... as a share of GDP over the years 1987-1997(i.e. the average of KI/100) as a proxy for s. If the data is not complete for all countries, use whatever years are available to calculate the average. Calculate the average continuous growth rate of population over the same period (i.e. the growth rate of ...
... as a share of GDP over the years 1987-1997(i.e. the average of KI/100) as a proxy for s. If the data is not complete for all countries, use whatever years are available to calculate the average. Calculate the average continuous growth rate of population over the same period (i.e. the growth rate of ...