How Solid Is Economic Growth in the East African Community?
... past decade has been impressive:1 at 6.2 percent, the EAC’s (unweighted) average growth rate in 2004–13 is in the top one-fifth of the distribution of 10-year growth rate episodes experienced by all countries worldwide since 1960. Such performance is even more remarkable taking into account that the ...
... past decade has been impressive:1 at 6.2 percent, the EAC’s (unweighted) average growth rate in 2004–13 is in the top one-fifth of the distribution of 10-year growth rate episodes experienced by all countries worldwide since 1960. Such performance is even more remarkable taking into account that the ...
Economic Development And Structural Change
... interests of others and of society as a whole. This approach to economic development assumed that productivity increases in the agriculture and manufacturing sectors are due mainly to incremental refinement of old, traditional technologies for the purposes of exploiting widened markets and specializ ...
... interests of others and of society as a whole. This approach to economic development assumed that productivity increases in the agriculture and manufacturing sectors are due mainly to incremental refinement of old, traditional technologies for the purposes of exploiting widened markets and specializ ...
Answers to Homework #2
... c. Generalize the pattern you have when you consider your answers if (c), (d), and (e)? The unemployment rate is increasing each month and the employment rate is decreasing each month. Thus far in the tables we have not yet reached a steady state of unemployment, but the pattern suggests that over t ...
... c. Generalize the pattern you have when you consider your answers if (c), (d), and (e)? The unemployment rate is increasing each month and the employment rate is decreasing each month. Thus far in the tables we have not yet reached a steady state of unemployment, but the pattern suggests that over t ...
Slide 1
... goods and services produced in an economy in a year. • We found that GDP is correlated with better human outcomes in terms of health and education (and political rights and lots of other nice things), but it is not correlated with measures of happiness. • Happiness seems to be based on people’s hist ...
... goods and services produced in an economy in a year. • We found that GDP is correlated with better human outcomes in terms of health and education (and political rights and lots of other nice things), but it is not correlated with measures of happiness. • Happiness seems to be based on people’s hist ...
Print Version - Of Wicksell And Fed Fallacies
... The tendency to low structural growth is reinforced by considering output gap measures prepared by the OECD. During “Fed knows best” periods of policy, the output gap sees a structural expansion which means growth is below the optimum rate. By contrast, in “Wicksellian” periods the output gap can be ...
... The tendency to low structural growth is reinforced by considering output gap measures prepared by the OECD. During “Fed knows best” periods of policy, the output gap sees a structural expansion which means growth is below the optimum rate. By contrast, in “Wicksellian” periods the output gap can be ...
President’s Report Board Directors
... Data released since your last Directors' meeting show the economy grew in the third quarter at a slower rate than first estimated. Recent data also suggests growth is likely to remain at or below the third quarter pace in the coming months. Until firms start to hire again, and consumers become more ...
... Data released since your last Directors' meeting show the economy grew in the third quarter at a slower rate than first estimated. Recent data also suggests growth is likely to remain at or below the third quarter pace in the coming months. Until firms start to hire again, and consumers become more ...
President’s Report Board Directors
... In June, nonfarm payrolls fell for the sixth consecutive month. Through the first half of the year, payrolls have been reduced by nearly 450,000 jobs. The unemployment rate was unchanged at 5.5% in June, but has risen one-half of a percentage point since December. Lightweight vehicle sales continued ...
... In June, nonfarm payrolls fell for the sixth consecutive month. Through the first half of the year, payrolls have been reduced by nearly 450,000 jobs. The unemployment rate was unchanged at 5.5% in June, but has risen one-half of a percentage point since December. Lightweight vehicle sales continued ...
notes - "Education is the most powerful weapon which you can use
... economy are willing and able to supply at each price level in a given period of time. • Economists usually further define aggregate supply as either short-run or long-run. • The typical short-run aggregate supply curve (SRAS) is upward-sloping showing a direct relationship between price level and re ...
... economy are willing and able to supply at each price level in a given period of time. • Economists usually further define aggregate supply as either short-run or long-run. • The typical short-run aggregate supply curve (SRAS) is upward-sloping showing a direct relationship between price level and re ...
Globalization and the Polish Economy: Stylized Facts and
... Over the last decades, global processes have gained significance as the factor important for the growth of Poland ‘s economy. It was in fact the coincidence of two major developments. First, what is now called ‘globalization’ in the economic literature, should be more precisely named ‘acceleration o ...
... Over the last decades, global processes have gained significance as the factor important for the growth of Poland ‘s economy. It was in fact the coincidence of two major developments. First, what is now called ‘globalization’ in the economic literature, should be more precisely named ‘acceleration o ...
what kind of development should be financed?
... financial resources to intensify this reality? The Financing for Development Conference must begin with the debate on the kind of development that is needed today. This one subject does not appear at all, implicitly or not, on the preparatory documents. On the contrary, the documents assume that the ...
... financial resources to intensify this reality? The Financing for Development Conference must begin with the debate on the kind of development that is needed today. This one subject does not appear at all, implicitly or not, on the preparatory documents. On the contrary, the documents assume that the ...
Understanding per$capita income growth in preindustrial Europe
... A common understanding of Malthusian models is that they predict per-capita incomes to be independent of land productivity. In a Malthusian world, if one economy has higher agricultural productivity than another, they should still have the same standards of living, as long as they are otherwise iden ...
... A common understanding of Malthusian models is that they predict per-capita incomes to be independent of land productivity. In a Malthusian world, if one economy has higher agricultural productivity than another, they should still have the same standards of living, as long as they are otherwise iden ...
Globalisation, growth and justice
... income of say the richest 10 per cent or top decile of the population with the per capita income of the poorest 10 per cent. Some argue that the latter is more appropriate in the context of globalisation for such a measure captures the 'polarisation' that may have occurred as part of globalisation. ...
... income of say the richest 10 per cent or top decile of the population with the per capita income of the poorest 10 per cent. Some argue that the latter is more appropriate in the context of globalisation for such a measure captures the 'polarisation' that may have occurred as part of globalisation. ...
February 12, 2001 - Questions and Solutions
... while another 1,000 are collecting unemployment insurance while they are on maternity leave from their jobs. What is the unemployment rate in Lotusland (to the nearest integer)? (A) 0% (B) 13% (C) 15% (D) 16% (E) 18% (F) 19% (G) 20% (H) 21% (I) 23% (J) 25% (K) 35% (L) 50% (M) 55% (N) none of the abo ...
... while another 1,000 are collecting unemployment insurance while they are on maternity leave from their jobs. What is the unemployment rate in Lotusland (to the nearest integer)? (A) 0% (B) 13% (C) 15% (D) 16% (E) 18% (F) 19% (G) 20% (H) 21% (I) 23% (J) 25% (K) 35% (L) 50% (M) 55% (N) none of the abo ...
The unemployment rate is the number of people
... labor force, what happens to the unemployment rate? 2. If productivity (output per worker) increases by three percent in a year, real GDP rises by two percent, and the labor force increases by one percent, what happens to unemployment? 3. What is the most important cost of unemployment? 4. Why are c ...
... labor force, what happens to the unemployment rate? 2. If productivity (output per worker) increases by three percent in a year, real GDP rises by two percent, and the labor force increases by one percent, what happens to unemployment? 3. What is the most important cost of unemployment? 4. Why are c ...
THE IMPACT AND LESSONS OF THE 2008 GLOBAL FINANCIAL CRISIS TO ZIMBABWE
... failing to play its role as the lender of last resort. Prior the multi-currency period, the Reserve Bank of Zimbabwe has been involved in Quasi Fiscal activities that virtually crowd out other financial intermediaries that the central bank was supposed to be monitoring and supervising. The empirical ...
... failing to play its role as the lender of last resort. Prior the multi-currency period, the Reserve Bank of Zimbabwe has been involved in Quasi Fiscal activities that virtually crowd out other financial intermediaries that the central bank was supposed to be monitoring and supervising. The empirical ...
Carbon tax scenarios - Centre International de Recherche
... Within a rapidly transforming society facing important challenges South Africa is experiencing rapid economic growth • Real GDP has doubled over the past 30 years ...
... Within a rapidly transforming society facing important challenges South Africa is experiencing rapid economic growth • Real GDP has doubled over the past 30 years ...
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).