Turkish Economy in 1946-1962 Period
... Conspicuous leisure: waste of time Leibenstein (1950): Veblen good is the one whose utility derived not only from the direct use of the good but also from the price paid for it. Thus a conspicious price is the price that a consumer thinks the other people think he or she paid for a ...
... Conspicuous leisure: waste of time Leibenstein (1950): Veblen good is the one whose utility derived not only from the direct use of the good but also from the price paid for it. Thus a conspicious price is the price that a consumer thinks the other people think he or she paid for a ...
... The general consensus among the market participants we met is that the decoupling view is not correct—that the U.S. and Asian economies are strongly enough linked that there will be significant spillovers. This is particularly true for Singapore, which has a very open economy. But even though such n ...
Lecture Slides Chapter 07
... o based on rational that developing countries cannot compete with established producers of industrial goods – infant industry argument o advantages: low risk, easily accomplished, and provides incentive for others to relocate o disadvantages: inefficient production, lack of economies of scale, discr ...
... o based on rational that developing countries cannot compete with established producers of industrial goods – infant industry argument o advantages: low risk, easily accomplished, and provides incentive for others to relocate o disadvantages: inefficient production, lack of economies of scale, discr ...
Macro07
... Improving Infrastructure in the U.S. • Improving infrastructure in the U.S. would raising productivity • Infrastructure includes electricity supply and power grid, energy supply, highways, high speed railroad, buildings, communication facilities, etc. ...
... Improving Infrastructure in the U.S. • Improving infrastructure in the U.S. would raising productivity • Infrastructure includes electricity supply and power grid, energy supply, highways, high speed railroad, buildings, communication facilities, etc. ...
Prospects for Growth in Africa: Learning from Patterns of Long-Term Economic Change
... expected average per capita income across sub-Saharan Africa to fall in 2010. Whether the current slowdown will prove to be a short term fluctuation, or the beginning of another period of prolonged economic stagnation, it is still too early to tell. The recent turn of fortunes was unexpected and did ...
... expected average per capita income across sub-Saharan Africa to fall in 2010. Whether the current slowdown will prove to be a short term fluctuation, or the beginning of another period of prolonged economic stagnation, it is still too early to tell. The recent turn of fortunes was unexpected and did ...
Global Economy Watch Has the need for governments to support the
... Economic update: What does the new growth target mean for China? At this year’s National People’s Congress, Chinese policymakers set a target range for GDP growth of between 6.5% and 7% for 2016 rather than a point specific target. Setting a range makes things a little easier for policymakers as it ...
... Economic update: What does the new growth target mean for China? At this year’s National People’s Congress, Chinese policymakers set a target range for GDP growth of between 6.5% and 7% for 2016 rather than a point specific target. Setting a range makes things a little easier for policymakers as it ...
GDP Calculation Methodology
... should be noted that preparation of new, 2008 version was completed and gradual switch to SNA 2008 methodology is planned to start in 2011. SNA 2008 methodology is similar to that of SNA 1993 with regard to many aspects. Certain changes are made with regard to some aspects, especially in Financial A ...
... should be noted that preparation of new, 2008 version was completed and gradual switch to SNA 2008 methodology is planned to start in 2011. SNA 2008 methodology is similar to that of SNA 1993 with regard to many aspects. Certain changes are made with regard to some aspects, especially in Financial A ...
National Accounts - juan gabriel rodriguez
... Net National Product (NNP) = GNP – consumption of fixed capital (depreciation) National Income = Net National Product – Statistical discrepancies ...
... Net National Product (NNP) = GNP – consumption of fixed capital (depreciation) National Income = Net National Product – Statistical discrepancies ...
Unit 7 PPT
... only when the amount of output produced by the average worker increases steadily. • The term labor productivity, or productivity for short, is used to refer to output per worker. • For the economy as a whole, productivity—output per worker—is simply real GDP divided by the number of people working. ...
... only when the amount of output produced by the average worker increases steadily. • The term labor productivity, or productivity for short, is used to refer to output per worker. • For the economy as a whole, productivity—output per worker—is simply real GDP divided by the number of people working. ...
Rising Inequality: A global challenge Lim Mah Hui
... decades) and the concomitant rise in its savings rate from about 30% to 50% of GDP. This excess of savings over investment, which is the current account surplus, is recycled through the international financial system and funded US debt-driven consumption which reached 72% of GDP in 2007. How was it ...
... decades) and the concomitant rise in its savings rate from about 30% to 50% of GDP. This excess of savings over investment, which is the current account surplus, is recycled through the international financial system and funded US debt-driven consumption which reached 72% of GDP in 2007. How was it ...
ECONOMIC ENVIRO NMENT answers.d oc
... b) Why should governments be worried with deflation? (5 marks) a. Yes as it slows down economic performance; its more worrisome in cases where this is not a deliberate government policy. c) Mention any two major conflicts between macroeconomic objectives? (6 marks) a. Healthy growth and low inflatio ...
... b) Why should governments be worried with deflation? (5 marks) a. Yes as it slows down economic performance; its more worrisome in cases where this is not a deliberate government policy. c) Mention any two major conflicts between macroeconomic objectives? (6 marks) a. Healthy growth and low inflatio ...
Document
... (GDP) grew 47.1 percent to reach 2.8 billion dollars. This accounts for 3.4 per cent of Dubai’s GDP of 82 billion dollars. Apart from its direct contribution to the GDP, the DIFC sub-economy has a significant 'multiplier effect' on the economy of both the UAE and the wider region. During the course ...
... (GDP) grew 47.1 percent to reach 2.8 billion dollars. This accounts for 3.4 per cent of Dubai’s GDP of 82 billion dollars. Apart from its direct contribution to the GDP, the DIFC sub-economy has a significant 'multiplier effect' on the economy of both the UAE and the wider region. During the course ...
Title of Presentation 32 point Arial Subtitle if needed 24
... Spending on software in 2009 should account for 14% of total IT spending – but 50% of IT employment. The Microsoft ecosystem and IT professionals in IT departments should constitute 45% of IT-related employment in 2009, 49% of IT related tax revenues. For every EUR of Microsoft revenue in 2009 ...
... Spending on software in 2009 should account for 14% of total IT spending – but 50% of IT employment. The Microsoft ecosystem and IT professionals in IT departments should constitute 45% of IT-related employment in 2009, 49% of IT related tax revenues. For every EUR of Microsoft revenue in 2009 ...
Activity questions
... 1. In year 1, nominal GDP is $500 billion, and in year 2 it is $600 billion. Meanwhile, the value of the GDP deflator has risen from 100 to 120. In this case: a) Real GDP has risen by 20%. b) Real GDP has fallen by 20%. c) Real GDP has stayed the same. d) Real GDP has risen more quickly than nominal ...
... 1. In year 1, nominal GDP is $500 billion, and in year 2 it is $600 billion. Meanwhile, the value of the GDP deflator has risen from 100 to 120. In this case: a) Real GDP has risen by 20%. b) Real GDP has fallen by 20%. c) Real GDP has stayed the same. d) Real GDP has risen more quickly than nominal ...
February 13, 2015 • Looking at US GDP through a
... Brazil Fights to Keep Up Its Grades The Brazilian government is clinging to its investment‐grade sovereign ratings for dear life. Economic and political challenges will test the country’s ability to keep a grip. Brazil earned its first BBB‐ rating from Standard & Poor’s (S& ...
... Brazil Fights to Keep Up Its Grades The Brazilian government is clinging to its investment‐grade sovereign ratings for dear life. Economic and political challenges will test the country’s ability to keep a grip. Brazil earned its first BBB‐ rating from Standard & Poor’s (S& ...
Spring 2012
... (c) Define a recursive competitive equilibrium for this economy. (d) Are equilibrium allocations the same as the ones that solve the social planning problem? If they are the same, provide an example of how the economy could be modified so that equilibrium and planner allocation do not coincide. (e) ...
... (c) Define a recursive competitive equilibrium for this economy. (d) Are equilibrium allocations the same as the ones that solve the social planning problem? If they are the same, provide an example of how the economy could be modified so that equilibrium and planner allocation do not coincide. (e) ...
Document
... • Solution of the system: equilibrium values of endogenous variables • Concept of equilibrium: in some models/theories, equilibrium as a state of the rest, on some markets supply does not have to equal demand • Disturbance to equilibrium: change in exogenous variables, behavioural and ...
... • Solution of the system: equilibrium values of endogenous variables • Concept of equilibrium: in some models/theories, equilibrium as a state of the rest, on some markets supply does not have to equal demand • Disturbance to equilibrium: change in exogenous variables, behavioural 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).