Introduction: How to think about economies at the macro level?
... Why do growth rates do not diminish? Because returns to investment in capital goods (especially human capital) do not diminish. There are spillovers and external benefits to all producers from newly invented technologies. Romer (1990), Aghion and Howitt(1992), Grossman and Helpman (1991) Technologic ...
... Why do growth rates do not diminish? Because returns to investment in capital goods (especially human capital) do not diminish. There are spillovers and external benefits to all producers from newly invented technologies. Romer (1990), Aghion and Howitt(1992), Grossman and Helpman (1991) Technologic ...
New Structural Economics
... up with or significantly narrowing their gap with the advanced industrial economies. Japan, in 1950 a developing country with a per capita income one-fifth of the United States, reached 63 percent of U.S. income by 1970 and became the world’s second-largest economy. Japan’s rise was the result of an ...
... up with or significantly narrowing their gap with the advanced industrial economies. Japan, in 1950 a developing country with a per capita income one-fifth of the United States, reached 63 percent of U.S. income by 1970 and became the world’s second-largest economy. Japan’s rise was the result of an ...
Saving Transitions - Faculty Support Site
... the gap in growth between these two groups of countries can be attributed to the difference in their saving performance. Such comparisons, however, tell us little about the underlying economics of high growth and the policies that enable it. High-growth countries share many characteristics other tha ...
... the gap in growth between these two groups of countries can be attributed to the difference in their saving performance. Such comparisons, however, tell us little about the underlying economics of high growth and the policies that enable it. High-growth countries share many characteristics other tha ...
Background Report Volume 2 (PDF 2293KB)
... of available statistical reports provide material for users wishing to examine particular issues in an in-depth manner. Certain indicators have also been presented in a disaggregated manner using classifications such as gender, region and age as appropriate. For some indicators, it may be preferable ...
... of available statistical reports provide material for users wishing to examine particular issues in an in-depth manner. Certain indicators have also been presented in a disaggregated manner using classifications such as gender, region and age as appropriate. For some indicators, it may be preferable ...
PDF
... from just below 1 million in 1981 to 1.7 million in 2001. During this same period, the proportion of urban population increased from 18 per cent in 1981 to 54 per cent in 2001 and reflects a rapid transfer from a traditional agricultural economy to a more modern urban economy. Gwebu (2003) has demon ...
... from just below 1 million in 1981 to 1.7 million in 2001. During this same period, the proportion of urban population increased from 18 per cent in 1981 to 54 per cent in 2001 and reflects a rapid transfer from a traditional agricultural economy to a more modern urban economy. Gwebu (2003) has demon ...
A Leading Canadian Financial Services Cluster
... increase in employment within the FIRE sector during the past five years. The City of Mississauga’s Economic Development Office (EDO) initiated this study to gain a better understanding of the FIRE sector and analyze the changes within the sector, in order to identify the strengths and weaknesses of ...
... increase in employment within the FIRE sector during the past five years. The City of Mississauga’s Economic Development Office (EDO) initiated this study to gain a better understanding of the FIRE sector and analyze the changes within the sector, in order to identify the strengths and weaknesses of ...
NBER WORKING PAPER SERIES GOVERNMENT SPENDING AND PRIVATE ACTIVITY Valerie A. Ramey
... value added, which is comprised of compensation of government employees, such as payments to military and civilian personnel, and consumption of government capital. Rotemberg and Woodford (1992) made this distinction in their empirical work by examining shocks to total defense spending after condit ...
... value added, which is comprised of compensation of government employees, such as payments to military and civilian personnel, and consumption of government capital. Rotemberg and Woodford (1992) made this distinction in their empirical work by examining shocks to total defense spending after condit ...
"Does Government Spending Stimulate Private Activity?"
... value added, which is comprised of compensation of government employees, such as payments to military and civilian personnel, and consumption of government capital. Rotemberg and Woodford (1992) made this distinction in their empirical work by examining shocks to total defense spending after condit ...
... value added, which is comprised of compensation of government employees, such as payments to military and civilian personnel, and consumption of government capital. Rotemberg and Woodford (1992) made this distinction in their empirical work by examining shocks to total defense spending after condit ...
Coordinating Business Cycles ∗ Edouard Schaal Mathieu Taschereau-Dumouchel
... Bresnahan and Ramey (1994) document important lumpiness in hours, overtime hours and plant shutdowns using weekly production data from the automobile industry. Also using data from the automobile industry, Hall (2000) provides evidence of non-convexities in capital utilization as firms adjust discr ...
... Bresnahan and Ramey (1994) document important lumpiness in hours, overtime hours and plant shutdowns using weekly production data from the automobile industry. Also using data from the automobile industry, Hall (2000) provides evidence of non-convexities in capital utilization as firms adjust discr ...
Chapter 01 Limits, Alternatives, and Choices
... C. Opportunity costs vary greatly between individuals and matter in decision-making. D. Attending college has little effect on lifetime earnings. ...
... C. Opportunity costs vary greatly between individuals and matter in decision-making. D. Attending college has little effect on lifetime earnings. ...
Indirect Domestic Value Added in Mexico`s Manufacturing Exports
... among developed countries. In addition, allowing for the sophistication of its exports (Hausmann et al. 2007), Mexico should grow faster given its level of productive specialization. We believe that this apparent situation is due to the omission of Mexico’s specialization at a particular stage of pr ...
... among developed countries. In addition, allowing for the sophistication of its exports (Hausmann et al. 2007), Mexico should grow faster given its level of productive specialization. We believe that this apparent situation is due to the omission of Mexico’s specialization at a particular stage of pr ...
Chapter 3 A R :
... during the VIII Plan to 82.93 per cent in 2004-05. Its relative share had a positive shift rate of 1.36 per cent per annum during 1985-2005. As against this, relative share of capital expenditure and loans and advances declined from an average of 21.12 per cent during the VIII Plan to 17.07 per cent ...
... during the VIII Plan to 82.93 per cent in 2004-05. Its relative share had a positive shift rate of 1.36 per cent per annum during 1985-2005. As against this, relative share of capital expenditure and loans and advances declined from an average of 21.12 per cent during the VIII Plan to 17.07 per cent ...
Breaking the Curse of Sisyphus: An Empirical Analysis of Post
... performance. While differences in technology and physical and human capital certainly matter for economic performance, cross-country income disparities can only partially be explained by the variation in factor endowments (Lucas, 1990). Over the past several decades, alternative theories on potentia ...
... performance. While differences in technology and physical and human capital certainly matter for economic performance, cross-country income disparities can only partially be explained by the variation in factor endowments (Lucas, 1990). Over the past several decades, alternative theories on potentia ...
Inflation and economic growth in Rwanda
... the short-run; the implication is that changes in the demand side of the economy resulting from expectations , labor force and policy actions such as discretionary monetary or fiscal policies, affect both prices and output in the short run as predicted by the Phillips Curve (Blanchard and Kitoyaki, ...
... the short-run; the implication is that changes in the demand side of the economy resulting from expectations , labor force and policy actions such as discretionary monetary or fiscal policies, affect both prices and output in the short run as predicted by the Phillips Curve (Blanchard and Kitoyaki, ...
NBER WORKING PAPER SERIES TRENDS IN HOURS, BALANCED GROWTH,
... words, there seems to be prima facie evidence of some sort of nonstationarity in both series. Second, and as con…rmed by the correlations in Table 2, there is no evidence of the tight negative relationship between those variables suggested by (1). Japan is the only country for which a strong negativ ...
... words, there seems to be prima facie evidence of some sort of nonstationarity in both series. Second, and as con…rmed by the correlations in Table 2, there is no evidence of the tight negative relationship between those variables suggested by (1). Japan is the only country for which a strong negativ ...
4 The macroeconomic impact of the 2004-2006 EU funds
... administrative categories into categories that can be used for economic analysis. The main substantive results of this phase of the investigation are to be found in Sections 4 and 5, which report on the two programming periods. Analysis of the 2004-2006 period is in one sense less problematic becaus ...
... administrative categories into categories that can be used for economic analysis. The main substantive results of this phase of the investigation are to be found in Sections 4 and 5, which report on the two programming periods. Analysis of the 2004-2006 period is in one sense less problematic becaus ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).