The impact of the euro on euro area GDP per capita
... uncertainty characterising Europe (De Grauwe P, 2012). This, together with the expected reduction of interest rates, led the Commission to conclude that the adoption of the euro would move the euro area to a durable higher growth path. Has this prediction come true? Figure 1 displays the average eur ...
... uncertainty characterising Europe (De Grauwe P, 2012). This, together with the expected reduction of interest rates, led the Commission to conclude that the adoption of the euro would move the euro area to a durable higher growth path. Has this prediction come true? Figure 1 displays the average eur ...
Standard Shocks in the OECD Interlink Model
... exports. This means that the effects, at least initially, are much more substantial than if only one country expands demand (Table 1). Another example is an oil price increase, which adversely affects output in most OECD countries (except for net exporters of oil such as Canada, Mexico and Norway). ...
... exports. This means that the effects, at least initially, are much more substantial than if only one country expands demand (Table 1). Another example is an oil price increase, which adversely affects output in most OECD countries (except for net exporters of oil such as Canada, Mexico and Norway). ...
GDP Weighting in Asset Allocation
... liberalized, and may have a high relative proportion of state-owned or privately held companies. As shown in Exhibit 5, these include some important emerging markets seen by many investors as countries with high potential for economic growth and above average returns over the long term. Advocates of ...
... liberalized, and may have a high relative proportion of state-owned or privately held companies. As shown in Exhibit 5, these include some important emerging markets seen by many investors as countries with high potential for economic growth and above average returns over the long term. Advocates of ...
DOC
... On the other hand, government savings should be reflected in decreased real government consumption. This trend will not be affected even by expenditures incurred due to the country’s EU presidency in 2009. In 2008, private consumption growth is slowing dramatically. At the turn of 2007 into 2008, th ...
... On the other hand, government savings should be reflected in decreased real government consumption. This trend will not be affected even by expenditures incurred due to the country’s EU presidency in 2009. In 2008, private consumption growth is slowing dramatically. At the turn of 2007 into 2008, th ...
THE ASSESSEMENT OF UNCERTAINTY IN PREDICTIONS DETERMINED BY THE VARIABLES AGGREGATION
... Authors as Espasa, Senra and Albacete, Hubrich and Benalal, Diaz del Hoyo, Land, Rome and Skudelny have important contributions to preview inflation in the euro area (Hendry and Hubrich, 2006). Fair and Shiller performed an analysis similar but for the U.S. GDP. About aggregation and disaggregation ...
... Authors as Espasa, Senra and Albacete, Hubrich and Benalal, Diaz del Hoyo, Land, Rome and Skudelny have important contributions to preview inflation in the euro area (Hendry and Hubrich, 2006). Fair and Shiller performed an analysis similar but for the U.S. GDP. About aggregation and disaggregation ...
Measuring a Nation`s Income
... Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, ...
... Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, ...
Skyscraper Height and the Business Cycle
... capita GDP; and then we conduct Granger casualty and cointegration tests. We perform this analysis for the United States, Canada, China, and Hong Kong. We find that in all of these cases, real per capita GDP and height are cointegrated; and there is unidirectional causality from GDP to height. These ...
... capita GDP; and then we conduct Granger casualty and cointegration tests. We perform this analysis for the United States, Canada, China, and Hong Kong. We find that in all of these cases, real per capita GDP and height are cointegrated; and there is unidirectional causality from GDP to height. These ...
1 Principles of Macroeconomics, 9e
... A) counted in national income, but not in GDP. B) not counted in GDP because it is not assumed to flow from the production of goods and services. C) not counted in GDP but is counted in GNP because it is paid by U.S. citizens to people living in the United States. D) included in both GDP and GNP bec ...
... A) counted in national income, but not in GDP. B) not counted in GDP because it is not assumed to flow from the production of goods and services. C) not counted in GDP but is counted in GNP because it is paid by U.S. citizens to people living in the United States. D) included in both GDP and GNP bec ...
Subjective Well-Being, Income, Economic Development and Growth
... detail in section VI along with other more affective measures of well-being and the results are similar to the income-satisfaction link. Subjective well-being data are useful only if the questions succeed in measuring what they intend to measure. Economists have traditionally been skeptical of subje ...
... detail in section VI along with other more affective measures of well-being and the results are similar to the income-satisfaction link. Subjective well-being data are useful only if the questions succeed in measuring what they intend to measure. Economists have traditionally been skeptical of subje ...
The Multiplier
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...
PDF Download
... Business cycle indicators are meant to describe cyclical economy activity in market-economy systems in a timely and accurate fashion. The characteristic of a good indicator is that it signals turning points in economic activity in a timely and clear fashion (i.e. without false alarms). In addition t ...
... Business cycle indicators are meant to describe cyclical economy activity in market-economy systems in a timely and accurate fashion. The characteristic of a good indicator is that it signals turning points in economic activity in a timely and clear fashion (i.e. without false alarms). In addition t ...
THE AUSTRALIAN BUSINESS CYCLE: A COINCIDENT INDICATOR APPROACH
... the use of an iterative procedure that imputes the missing data and re-estimates the model. The question then arises as to how the estimated factors should be interpreted with regard to the business cycle. If there is only one factor (q=1), then that factor is the only common feature driving the eco ...
... the use of an iterative procedure that imputes the missing data and re-estimates the model. The question then arises as to how the estimated factors should be interpreted with regard to the business cycle. If there is only one factor (q=1), then that factor is the only common feature driving the eco ...
Parkin-Bade Chapter 22
... An increase in investment (or any other component of autonomous expenditure) increases aggregate expenditure and real GDP. The increase in real GDP leads to an increase in induced expenditure. The increase in induced expenditure leads to a further increase in aggregate expenditure and real GDP. So r ...
... An increase in investment (or any other component of autonomous expenditure) increases aggregate expenditure and real GDP. The increase in real GDP leads to an increase in induced expenditure. The increase in induced expenditure leads to a further increase in aggregate expenditure and real GDP. So r ...
Chapter 10
... function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
... function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
Chapter 6 – The gross domestic product for Norway
... The last phase of the project was concluded in 1965 and 1968, when final versions of the historical national accounts for Norway spanning almost one hundred years, 1865-1960, was published.12 The work was part of an international project on economic growth. Thus, the series were built on internation ...
... The last phase of the project was concluded in 1965 and 1968, when final versions of the historical national accounts for Norway spanning almost one hundred years, 1865-1960, was published.12 The work was part of an international project on economic growth. Thus, the series were built on internation ...
NBER WORKING PAPER SERIES WHERE ARE WE NOW? Martin D.D. Evans
... Information about the current state of real economic activity is widely dispersed across consumers, …rms and policymakers. While individual consumers and …rms know the recent history of their own decisions, they are unaware of the contemporaneous consumption, saving, investment and employment decisi ...
... Information about the current state of real economic activity is widely dispersed across consumers, …rms and policymakers. While individual consumers and …rms know the recent history of their own decisions, they are unaware of the contemporaneous consumption, saving, investment and employment decisi ...
What is Economics? 1 Chapter 13 expenditure multipliers: The
... IV. The Multiplier and the Price Level A. In the equilibrium expenditure model, the price level remains constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms cha ...
... IV. The Multiplier and the Price Level A. In the equilibrium expenditure model, the price level remains constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms cha ...
Compiled homework
... 23. Shortrun macroeconomic equilibrium occurs when the quantity of _____ demanded equals the quantity of _____ supplied at the point of intersection of the _____ curve and the _____ curve. A. loanable funds; loanable funds; DLF; SLF B. real GDP; real GDP; AD; SAS C. output; output; MD; ...
... 23. Shortrun macroeconomic equilibrium occurs when the quantity of _____ demanded equals the quantity of _____ supplied at the point of intersection of the _____ curve and the _____ curve. A. loanable funds; loanable funds; DLF; SLF B. real GDP; real GDP; AD; SAS C. output; output; MD; ...
Let`s Get This Right: Swiss GDP and Value Added by Industry from
... The contemporary GDP series of the Federal statistical office, which is based on the production approach, starts only in 1990 (BFS 01). Before 1990, National accounting was based on the income ...
... The contemporary GDP series of the Federal statistical office, which is based on the production approach, starts only in 1990 (BFS 01). Before 1990, National accounting was based on the income ...
Real GDP with a Fixed Price Level
... The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
... The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
Chap 29
... The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
... The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. The assumed MPC in the figure is 0.9. ...
Situational Analysis of the Reliability of Economic Statistics in Africa
... of a set of internationally agreed concepts, definitions, classifications, and accounting rules. The SNA is intended for use by all countries, as it has been designed to accommodate the needs of individual nations at different stages of economic development. For the vast majority of African countrie ...
... of a set of internationally agreed concepts, definitions, classifications, and accounting rules. The SNA is intended for use by all countries, as it has been designed to accommodate the needs of individual nations at different stages of economic development. For the vast majority of African countrie ...
Genuine progress indicator
Genuine progress indicator, or GPI, is a metric that has been suggested to replace, or supplement, gross domestic product (GDP) as a measure of economic growth. GPI is designed to take fuller account of the health of a nation's economy by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI is used in green economics, sustainability and more inclusive types of economics by factoring in environmental and carbon footprints that businesses produce or eliminate. ""Among the indicators factored into GPI are resource depletion, pollution, and long-term environmental damage."" GDP gains double the amount when pollution is created, since it increases once upon creation (as a side-effect of some valuable process) and again when the pollution is cleaned up, whereas GPI counts the initial pollution as a loss rather than a gain, generally equal to the amount it will cost to clean up later plus the cost of any negative impact the pollution will have in the mean time. While quantifying costs and benefits of these environmental and social externalities is a difficult task, ""Earthster-type databases could bring more precision and currency to GPI's metrics."" ""Another movement in economics that might embrace such data is the attempt to 'internalize externalities' - that is, to make companies bear the costs"" of the pollution they create (rather than having the government bear that cost) ""by taxing their goods proportionally to their negative eco-impacts.""GPI is an attempt to measure whether the environmental impact and social costs of economic production and consumption in a country is a negative or positive factor in overall health and well-being. By accounting for the costs borne by the society as a whole to repair or control pollution, poverty and prosperity GPI balances GDP spending against external costs. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between the overall ""shift in the 'value basis' of a product, adding its ecological impacts into the equation.""(Ch. 10.3)Comparatively speaking, the relationship between GDP and GPI is analogous to the relationship between the gross profit of a company and the net profit; the Net Profit is the Gross Profit minus the costs incurred; the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if the financial costs of poverty and pollution equal the financial gains in production of goods and services, all other factors being constant.