NBER WORKING PAPER SERIES ON THE WELFARE COSTS OF CONSUMPTION UNCERTAINTY
... parameters for the time series of real per capita consumer expenditure from U.S. postWorld War II macroeconomic data, along with plausible values for the coefficient of relative risk aversion. One problem with this calculation, apparent from Mehra and Prescott (1985), is that simulations with the sa ...
... parameters for the time series of real per capita consumer expenditure from U.S. postWorld War II macroeconomic data, along with plausible values for the coefficient of relative risk aversion. One problem with this calculation, apparent from Mehra and Prescott (1985), is that simulations with the sa ...
growth and political ideology in a democracy
... dimension to account for the left-right opposition and the underlying effects on the economic performances of a country such as France. If the voter is rather in favour of a free-market economy, in other words a small size of government, free trade, low regulation, low inflation, and the protection ...
... dimension to account for the left-right opposition and the underlying effects on the economic performances of a country such as France. If the voter is rather in favour of a free-market economy, in other words a small size of government, free trade, low regulation, low inflation, and the protection ...
View/Open
... GDP into price and input effects and total factor productivity (TFP) effects. 3 The effects of changes in inputs and prices are short-run in nature (often for only a single time period), while the TFP effects tend to be longer run dynamic sources of growth. Growth driven by increases in prices/input ...
... GDP into price and input effects and total factor productivity (TFP) effects. 3 The effects of changes in inputs and prices are short-run in nature (often for only a single time period), while the TFP effects tend to be longer run dynamic sources of growth. Growth driven by increases in prices/input ...
SESSION NOTES OECD/ESCAP/ADB REGIONAL CONSULTATION ON INCLUSIVE GROWTH IN
... was accompanied by social gains and relative political stability. Between the early 1990s and 2012, the total population expanded by over 200 million, but the number of people living in acute poverty – less than USD 1.25 per day in PPP terms – fell by 75 million. Several countries have attained midd ...
... was accompanied by social gains and relative political stability. Between the early 1990s and 2012, the total population expanded by over 200 million, but the number of people living in acute poverty – less than USD 1.25 per day in PPP terms – fell by 75 million. Several countries have attained midd ...
In the aftermath of the Great Depression of the 1930s and World War
... There is no official data on global excess capacity. There is not even a consensus on how it should be defined and measured. Nevertheless, reports from consulting firms, industry trade associations, and occasional studies by international organizations agree that large excess capacity has plagued a ...
... There is no official data on global excess capacity. There is not even a consensus on how it should be defined and measured. Nevertheless, reports from consulting firms, industry trade associations, and occasional studies by international organizations agree that large excess capacity has plagued a ...
Outsourcing and Offshoring: Problems for Price and Productivity
... the focus of this paper is on foreign outsourcing, I note that the measurement issues are similar in cases of domestic outsourcing. The bias in input price indexes that results from switching sources for intermediate inputs is analogous to the outlet substitution noted in the literature pertaining ...
... the focus of this paper is on foreign outsourcing, I note that the measurement issues are similar in cases of domestic outsourcing. The bias in input price indexes that results from switching sources for intermediate inputs is analogous to the outlet substitution noted in the literature pertaining ...
INTRODUCTION
... The GFS system presents “gross” and “net” flows, i.e., initially the account includes the internal flows between units of the general government sector. Afterwards, consolidation is performed to attain a “net” presentation of the account for the entire sector. The SNA93 system, by contrast, present ...
... The GFS system presents “gross” and “net” flows, i.e., initially the account includes the internal flows between units of the general government sector. Afterwards, consolidation is performed to attain a “net” presentation of the account for the entire sector. The SNA93 system, by contrast, present ...
Forecast of Economic Growth by Time Series and Scenario Planning
... For GDP prediction, the common ways are as follows: regression model [3], gray system model [4] [5], ANN predicted method [6] [7], Okun law method [8]-[10] and time series method, etc. For time series method, Zhao Ying used ARIMA model according to time data materials of actual GDP in China to make ...
... For GDP prediction, the common ways are as follows: regression model [3], gray system model [4] [5], ANN predicted method [6] [7], Okun law method [8]-[10] and time series method, etc. For time series method, Zhao Ying used ARIMA model according to time data materials of actual GDP in China to make ...
The Global Recession and International Investing
... world—the global business cycle accounts for only approximately 50%–60% of the variation in real GDP growth across the major developed and emerging market economies. The remaining economic volatility is a result of region-specific and country-specific factors. Of course, the correlation among intern ...
... world—the global business cycle accounts for only approximately 50%–60% of the variation in real GDP growth across the major developed and emerging market economies. The remaining economic volatility is a result of region-specific and country-specific factors. Of course, the correlation among intern ...
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... In the United States, economic developments were drivbanking sector, energy supply shortages and the en by fiscal policy last year to quite a large extent. At the over-regulation of many industry sectors are very beginning of 2013, the payroll tax rate was raised by 2 likely to impede economic expan ...
... In the United States, economic developments were drivbanking sector, energy supply shortages and the en by fiscal policy last year to quite a large extent. At the over-regulation of many industry sectors are very beginning of 2013, the payroll tax rate was raised by 2 likely to impede economic expan ...
This PDF is a selection from a published volume from... National Bureau of Economic Research Volume Title: Globalization in Historical Perspective
... pact of incentive structures on investment and innovation and have argued that divergence stems from the path dependency of institutional arrangements. Endogenous growth models also tend to underline the centrality of microeconomic foundations for growth outcomes (Aghion and Howitt 1998), whereas ne ...
... pact of incentive structures on investment and innovation and have argued that divergence stems from the path dependency of institutional arrangements. Endogenous growth models also tend to underline the centrality of microeconomic foundations for growth outcomes (Aghion and Howitt 1998), whereas ne ...
gap» between the United States and the euro area?
... The U.S. economy has weaker automatic stabilisers and a more flexible labour market than the euro area, which explains its generally wider cyclical swings and justifies the use of more responsive macroeconomic policies. During the 20082009 crisis, the United States experienced a milder contraction ...
... The U.S. economy has weaker automatic stabilisers and a more flexible labour market than the euro area, which explains its generally wider cyclical swings and justifies the use of more responsive macroeconomic policies. During the 20082009 crisis, the United States experienced a milder contraction ...
Reforming State Owned Enterprises in China: Effects of
... their investments until the reforms start, and grows faster during the reform periods, arriving sooner to its balanced growth path. This paper’s main message goes well beyond the case of China’s WTO accession: once domestic policy reforms associated with a trade agreement are taken into account, th ...
... their investments until the reforms start, and grows faster during the reform periods, arriving sooner to its balanced growth path. This paper’s main message goes well beyond the case of China’s WTO accession: once domestic policy reforms associated with a trade agreement are taken into account, th ...
The Export –Driven Growth in China: Implications for
... growth model has been very good for the supply side. Looking at the drivers of “potential” GDP (production) growth, reflecting China’s towering investment to GDP ratio, the contribution of capital accumulation has been very high. An important driver, particularly since the late 1990s, is that in a p ...
... growth model has been very good for the supply side. Looking at the drivers of “potential” GDP (production) growth, reflecting China’s towering investment to GDP ratio, the contribution of capital accumulation has been very high. An important driver, particularly since the late 1990s, is that in a p ...
Chapter 6
... the density of transactions between them (Arrighi and Silver 1999:30). Expansion created conditions for new states and new capitalist businesses to emerge, undermining the old monopolies of the incumbent hegemony and generating new profit opportunities that tended to favor the rising states and bus ...
... the density of transactions between them (Arrighi and Silver 1999:30). Expansion created conditions for new states and new capitalist businesses to emerge, undermining the old monopolies of the incumbent hegemony and generating new profit opportunities that tended to favor the rising states and bus ...
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).