Facts of Growth
... 1. Growth is not a historical necessity There’s been lots of stagnation and decline 2. Convergence of OECD countries to the U.S. may be the prelude to leapfrogging 3. The rapid post WWII growth was atypical ...
... 1. Growth is not a historical necessity There’s been lots of stagnation and decline 2. Convergence of OECD countries to the U.S. may be the prelude to leapfrogging 3. The rapid post WWII growth was atypical ...
gross domestic product
... • GDP refers to the value of final goods and services produced within the country. It does not matter if the producers of these goods and services are residents or non-residents. (INFOSYS in U.S) • GNP refers to the goods and services produced by the country’s residents. It does not matter in which ...
... • GDP refers to the value of final goods and services produced within the country. It does not matter if the producers of these goods and services are residents or non-residents. (INFOSYS in U.S) • GNP refers to the goods and services produced by the country’s residents. It does not matter in which ...
2202/C/04
... programmes, which would be articulated around four broad pillars. In all these actions, it was very important for us to be associated not only with national governments but also with the social partners as well as the regional and local collectivities. The “Luxembourg process” has certainly been suc ...
... programmes, which would be articulated around four broad pillars. In all these actions, it was very important for us to be associated not only with national governments but also with the social partners as well as the regional and local collectivities. The “Luxembourg process” has certainly been suc ...
Discussion Paper Series No.150 A Factor Endowment Theory of
... economy along the socially optimal path. To avoid that trivial case, we consider a world economy in which many countries produce and trade in a pure consumption good and a pure investment good, each produced with the aid of homogeneous physical capital and homogeneous labour measured in efficiency u ...
... economy along the socially optimal path. To avoid that trivial case, we consider a world economy in which many countries produce and trade in a pure consumption good and a pure investment good, each produced with the aid of homogeneous physical capital and homogeneous labour measured in efficiency u ...
Document
... Poor countries are not necessarily doomed to poverty forever – e.g., Singapore, incomes were low in 1960 and are quite high now. Rich countries can’t take their status for granted: They may be overtaken by poorer but faster-growing countries. ...
... Poor countries are not necessarily doomed to poverty forever – e.g., Singapore, incomes were low in 1960 and are quite high now. Rich countries can’t take their status for granted: They may be overtaken by poorer but faster-growing countries. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... that it was only temporarily affected by the revolution. Moreover, productivity growth trends recovered in the following decades and were not affected by the Great Depression. The impact of the revolution was only temporary because the revolutionary wars did not affect to a considerable extent the exis ...
... that it was only temporarily affected by the revolution. Moreover, productivity growth trends recovered in the following decades and were not affected by the Great Depression. The impact of the revolution was only temporary because the revolutionary wars did not affect to a considerable extent the exis ...
II. Measurement of Economic Performance (12
... of the workers. The goal is usually to raise wages above market equilibrium. As a result, there may be some structural unemployment. The members and leadership of the unions usually are willing to make this tradeoff of higher wages for lower employment. Efficiency Wages are wages that employers set ...
... of the workers. The goal is usually to raise wages above market equilibrium. As a result, there may be some structural unemployment. The members and leadership of the unions usually are willing to make this tradeoff of higher wages for lower employment. Efficiency Wages are wages that employers set ...
problem set 4 - Shepherd Webpages
... For each of the following, determine whether the aggregate demand curve shifts or the short-run aggregate supply curve shifts. Draw a separate graph to illustrate each situation (Mark the initial equilibrium so that all three curves cross at the full-employment output). Show clearly what happens to ...
... For each of the following, determine whether the aggregate demand curve shifts or the short-run aggregate supply curve shifts. Draw a separate graph to illustrate each situation (Mark the initial equilibrium so that all three curves cross at the full-employment output). Show clearly what happens to ...
Chapter 9 Buffer stocks and price stability
... would restore the buffer stock capacity to any economy and ensure that, at all times, the least advantaged workers in our community have opportunities to earn a wage and to live free of welfare support. While it is easy to characterise the JG as purely a public sector job creation strategy, it is im ...
... would restore the buffer stock capacity to any economy and ensure that, at all times, the least advantaged workers in our community have opportunities to earn a wage and to live free of welfare support. While it is easy to characterise the JG as purely a public sector job creation strategy, it is im ...
(INK) Nodal Economic Development Profile
... The public sector contributes to the local economy through social grants, project funding and employment in public institutions. Social grants constitute an important source of income for many INK residents. Welfare spending reaches approximately 17 700 people in INK, with monthly payouts totalling ...
... The public sector contributes to the local economy through social grants, project funding and employment in public institutions. Social grants constitute an important source of income for many INK residents. Welfare spending reaches approximately 17 700 people in INK, with monthly payouts totalling ...
OCR Economics: Macroeconomics 2
... some idea about how the exam questions might be answered. The examiner comments (blue text) have been added to give you some sense of what is rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions, but they can be treated as one way of appr ...
... some idea about how the exam questions might be answered. The examiner comments (blue text) have been added to give you some sense of what is rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions, but they can be treated as one way of appr ...
international competitivenss as a catalyst of productivity
... competitiveness (IC) remains influential, especially among practitioners. However, scholars‟‟ reactions to this idea have not been as enthusiastic as those of policy makers. According to Krugman (1994), IC is a potentially misleading paradigm and its use as a basis for policy recommendations is wron ...
... competitiveness (IC) remains influential, especially among practitioners. However, scholars‟‟ reactions to this idea have not been as enthusiastic as those of policy makers. According to Krugman (1994), IC is a potentially misleading paradigm and its use as a basis for policy recommendations is wron ...
1 - Ewp.rpi.edu
... optimum and economically efficient use of its resources; and hence is an optimal trade-policy, if the objective is maximizing long term economic growth. There are those who argue that the experience of the Asian Miracle countries, such as Taiwan, South Korea and Singapore verify this argument in the ...
... optimum and economically efficient use of its resources; and hence is an optimal trade-policy, if the objective is maximizing long term economic growth. There are those who argue that the experience of the Asian Miracle countries, such as Taiwan, South Korea and Singapore verify this argument in the ...
Causality and Determinants of Government
... where ∆ is the difference operator, Yt is the economic variables, Yt-1 is their lagged differences to ensure that the residuals are white noise, and ε t is the stationary random error (Dickey and Fuller, 1981). The test is carried for all variables in level form first. As reported in column two of T ...
... where ∆ is the difference operator, Yt is the economic variables, Yt-1 is their lagged differences to ensure that the residuals are white noise, and ε t is the stationary random error (Dickey and Fuller, 1981). The test is carried for all variables in level form first. As reported in column two of T ...
File
... Consumer Price Index (CPI): A statistical estimate of the level of prices of goods and services (market basket: list of roughly 300 items) bought for consumption purposes by households. FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full ...
... Consumer Price Index (CPI): A statistical estimate of the level of prices of goods and services (market basket: list of roughly 300 items) bought for consumption purposes by households. FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full ...
Babson Capital/UNC Charlotte Economic Forecast March 3, 2016
... Positive economic growth in 2016 would represent the seventh consecutive year of economic growth for the North Carolina economy. While this is an impressive string of growth, the size of that economic growth was somewhat lacking in the early years. In fact, for most of the 21st Century, both the U.S ...
... Positive economic growth in 2016 would represent the seventh consecutive year of economic growth for the North Carolina economy. While this is an impressive string of growth, the size of that economic growth was somewhat lacking in the early years. In fact, for most of the 21st Century, both the U.S ...
Efeitos da política econômica sobre o setor industrial: uma
... taxation, which consists of grabbing some income or wealth, may be partly identical to the constraints of production. In this context, the result is always the same: a certain investment of labor and capital yields less with restriction than without it, that is, less capital and labor is invested in ...
... taxation, which consists of grabbing some income or wealth, may be partly identical to the constraints of production. In this context, the result is always the same: a certain investment of labor and capital yields less with restriction than without it, that is, less capital and labor is invested in ...
industrial development in nigeria in the context of globalization
... These developments underscore the predominance of keen competition in the world market especially on industrial products to the disadvantage of developing countries who are less competitive. This trend shows little motivation for meaningful integration since the developing nations’ markets are essen ...
... These developments underscore the predominance of keen competition in the world market especially on industrial products to the disadvantage of developing countries who are less competitive. This trend shows little motivation for meaningful integration since the developing nations’ markets are essen ...
R J F
... America's economy as well as many world economies are not immune from these injuries. It should be noted that the economies of countries that are less concerned with global markets have the lowest somebody suffered from the crisis. Iran’s economy by reducing their foreign exchange earnings on the sa ...
... America's economy as well as many world economies are not immune from these injuries. It should be noted that the economies of countries that are less concerned with global markets have the lowest somebody suffered from the crisis. Iran’s economy by reducing their foreign exchange earnings on the sa ...
WORD - unece
... Major demand components of GDP in selected eastern European, Baltic and CIS economies, 2001-2002 .............................. Volume of retail trade in eastern Europe, the Baltic states and the CIS, 2001-2002 ................................................................... Consumer prices, indu ...
... Major demand components of GDP in selected eastern European, Baltic and CIS economies, 2001-2002 .............................. Volume of retail trade in eastern Europe, the Baltic states and the CIS, 2001-2002 ................................................................... Consumer prices, indu ...
Recession or Depression? - Federal Reserve Bank of St. Louis
... domestic income (GDI), because the NBER notes that this value was important in establishing this recession’s December 2007 peak.3 (Note: In the table, the peak-to-trough changes in real GDP and the unemployment rate are based on actual peaks and troughs for each particular recession episode, rather ...
... domestic income (GDI), because the NBER notes that this value was important in establishing this recession’s December 2007 peak.3 (Note: In the table, the peak-to-trough changes in real GDP and the unemployment rate are based on actual peaks and troughs for each particular recession episode, rather ...
ANALIZY I OPRACOWANIA
... Within the literature we have to note a particularly interesting area of theoretical modeling that simultaneously deal with (and determine) economic growth and location in space – this models link new economic growth theory with Krugman’s (1991) new economic geography. This approach generates far mo ...
... Within the literature we have to note a particularly interesting area of theoretical modeling that simultaneously deal with (and determine) economic growth and location in space – this models link new economic growth theory with Krugman’s (1991) new economic geography. This approach generates far mo ...
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).