7. Explaining Growth since the Industrial Revolution.
... unusual feature of the modern economy, however, is that the gap between the living standards of people in rich and poor economies is seemingly much wider than in the pre-industrial world. In the pre-industrial era the areas with the most favorable demographic factors could attain incomes perhaps fo ...
... unusual feature of the modern economy, however, is that the gap between the living standards of people in rich and poor economies is seemingly much wider than in the pre-industrial world. In the pre-industrial era the areas with the most favorable demographic factors could attain incomes perhaps fo ...
An update from Investment Markets Research
... before making an investment decision. Past performance should not be taken as an indication of future performance. No part of this material may be reproduced or transmitted in any form or by any means without the prior written consent of Colonial First State Asset Management (Australia) Limited ABN ...
... before making an investment decision. Past performance should not be taken as an indication of future performance. No part of this material may be reproduced or transmitted in any form or by any means without the prior written consent of Colonial First State Asset Management (Australia) Limited ABN ...
Insert title here
... Nonmarket Activities GDP does not measure goods and services that people make or do themselves, such as caring for children, mowing lawns, or cooking dinner. The Underground Economy There is much economic activity which, although income is generated, never reported to the government. Examples includ ...
... Nonmarket Activities GDP does not measure goods and services that people make or do themselves, such as caring for children, mowing lawns, or cooking dinner. The Underground Economy There is much economic activity which, although income is generated, never reported to the government. Examples includ ...
Introduction - Nevada Subcontractors Association
... Rehabilitation partners with the U.S. Department of Labor to oversee the State’s labor market information program. As a result of the Federal government shutdown, primary labor data (unemployment rate, job growth, etc.) for September is not available for dissemination at this time, as it normally wo ...
... Rehabilitation partners with the U.S. Department of Labor to oversee the State’s labor market information program. As a result of the Federal government shutdown, primary labor data (unemployment rate, job growth, etc.) for September is not available for dissemination at this time, as it normally wo ...
Chapter_12
... Nonmarket Activities GDP does not measure goods and services that people make or do themselves, such as caring for children, mowing lawns, or cooking dinner. The Underground Economy There is much economic activity which, although income is generated, never reported to the government. Examples includ ...
... Nonmarket Activities GDP does not measure goods and services that people make or do themselves, such as caring for children, mowing lawns, or cooking dinner. The Underground Economy There is much economic activity which, although income is generated, never reported to the government. Examples includ ...
China`s Labor Market in the “New Normal”
... SOEs may, in the near term, release excess labor and push up the interim unemployment rate by ½‒¾ percentage point, but facilitate structural transition—such as urbanization and services sector expansion—to more sustainable growth and job creation in the medium term. ...
... SOEs may, in the near term, release excess labor and push up the interim unemployment rate by ½‒¾ percentage point, but facilitate structural transition—such as urbanization and services sector expansion—to more sustainable growth and job creation in the medium term. ...
Chapter 11
... Doubling the Standard of Living • The faster the growth rate, the shorter the time it takes to double the standard of living – 36 years at 2% p.a. and only 14.4 years at 5% p.a • At 2% p.a., your real income will be four times that of your grandparents • Time taken is less than proportional to the ...
... Doubling the Standard of Living • The faster the growth rate, the shorter the time it takes to double the standard of living – 36 years at 2% p.a. and only 14.4 years at 5% p.a • At 2% p.a., your real income will be four times that of your grandparents • Time taken is less than proportional to the ...
CHAPTER - 7 STAGFLATION
... lowered when the rate of inflation is too high. A rise in the rate of monetary expansion above the current rate of inflation raises the rate of inflation, rate exceeds the equilibrium rate, ...
... lowered when the rate of inflation is too high. A rise in the rate of monetary expansion above the current rate of inflation raises the rate of inflation, rate exceeds the equilibrium rate, ...
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... vanish through higher tax revenues and falling expenditure on unemployment benefits as the business cycle hopefully improves the coming years. However, a substantial share of the fall in output is structural in nature. Recessions caused by financial crises have larger longterm or structural conseque ...
... vanish through higher tax revenues and falling expenditure on unemployment benefits as the business cycle hopefully improves the coming years. However, a substantial share of the fall in output is structural in nature. Recessions caused by financial crises have larger longterm or structural conseque ...
working-with-economic-data-government
... are known as structural balances. For example, a structural deficit might exist if the prevailing tax system causes public sector spending commitments to exceed income throughout the business cycle. It can be useful to estimate the structural component of any overall budget balance. To do so here, w ...
... are known as structural balances. For example, a structural deficit might exist if the prevailing tax system causes public sector spending commitments to exceed income throughout the business cycle. It can be useful to estimate the structural component of any overall budget balance. To do so here, w ...
Ch. 10-11 GDP, CPI, Unemployment PP
... How does the Government help the Unemployed? 1) UNEMPLOYMENT INSURANCE is a government program that partially protects workers’ incomes when they become unemployed. Offers partial payment of former wages for a limited time to those who are laid off. ...
... How does the Government help the Unemployed? 1) UNEMPLOYMENT INSURANCE is a government program that partially protects workers’ incomes when they become unemployed. Offers partial payment of former wages for a limited time to those who are laid off. ...
Corporate Social Responsibility: Relevance In Education and Technology: India
... result in some countries being left behind, with the gap between developed and developing countries broadening to the detriment of all. Thus, two key areas need to be managed by corporations, along with governments in the process of globalization, talents (and the mobility of people with talents in ...
... result in some countries being left behind, with the gap between developed and developing countries broadening to the detriment of all. Thus, two key areas need to be managed by corporations, along with governments in the process of globalization, talents (and the mobility of people with talents in ...
View/Open
... and capital productivity around 1%. During this period there has been a significant improvement in the utilization of the basic infrastructure and growth potential created during the earlier phase of modernization. Thus, for instance, it has been observed in the latest issue of Economic Survey (Gove ...
... and capital productivity around 1%. During this period there has been a significant improvement in the utilization of the basic infrastructure and growth potential created during the earlier phase of modernization. Thus, for instance, it has been observed in the latest issue of Economic Survey (Gove ...
NBER WORKING PAPER SERIES Working Paper No. 4683 Cambridge, MA 02138
... goods sector. Investment is implemented at period one, prior to the resolution of the uncertainty regarding the productivity in period two. The entrepreneur's utility function (3) is additive. Equations (3) and (7) imply that investment I in period one, generating real ...
... goods sector. Investment is implemented at period one, prior to the resolution of the uncertainty regarding the productivity in period two. The entrepreneur's utility function (3) is additive. Equations (3) and (7) imply that investment I in period one, generating real ...
FRBSF E L CONOMIC ETTER
... a multi-sector, vector-autoregression empirical model, they find that a decline in the comovement of output among inventory-holding industries (for example, manufacturing and wholesale trade) can explain a substantial share of the decline in aggregate output volatility.Their model suggests that a ch ...
... a multi-sector, vector-autoregression empirical model, they find that a decline in the comovement of output among inventory-holding industries (for example, manufacturing and wholesale trade) can explain a substantial share of the decline in aggregate output volatility.Their model suggests that a ch ...
A New Framework for Testing the Effect of Government Spending on
... and hence a lower rate of economic growth. Lindbeck (1983), among others, has instead stressed the disincentive effects of large tax wedges on labor income in high-tax societies. Hansson (1984) assesses that the cost of increasing public revenue at the margin may be extremely high in a country like ...
... and hence a lower rate of economic growth. Lindbeck (1983), among others, has instead stressed the disincentive effects of large tax wedges on labor income in high-tax societies. Hansson (1984) assesses that the cost of increasing public revenue at the margin may be extremely high in a country like ...
Some instability puzzles in Kaleckian models of growth and
... In the ‘mature economy’, the rate of output growth is a positive function of the profit share and a negative function of the employment rate. If the employment rate rises above its steady state value, capitalists reduce output growth, sales growth declines, the actual rate of utilization falls, and ...
... In the ‘mature economy’, the rate of output growth is a positive function of the profit share and a negative function of the employment rate. If the employment rate rises above its steady state value, capitalists reduce output growth, sales growth declines, the actual rate of utilization falls, and ...
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).