Vol. 20, No. 2, December 2013
... their economies and thus, within a short period of time, have reached a middle-income status. These countries successfully managed to recover from the crisis of 1997. Hence, there are a number of studies on the East Asian development experience, such as World Bank (1993), Krueger (1995), Rodrik (199 ...
... their economies and thus, within a short period of time, have reached a middle-income status. These countries successfully managed to recover from the crisis of 1997. Hence, there are a number of studies on the East Asian development experience, such as World Bank (1993), Krueger (1995), Rodrik (199 ...
inclusive labour markets in-depth employment analysis
... a period of reasonable growth and when unemployment rates were remarkably lower than they are today. However, the financial crisis, which subsequently turned into an economic and social one – has changed the European landscape in the intervening years. Europe’s economy has been in recession, the lon ...
... a period of reasonable growth and when unemployment rates were remarkably lower than they are today. However, the financial crisis, which subsequently turned into an economic and social one – has changed the European landscape in the intervening years. Europe’s economy has been in recession, the lon ...
Following the Trend: Tracking GDP when Long-Run Growth is Uncertain ∗ Juan Antolin-Diaz
... questions about whether the long-run growth rate of the US economy (and other industrialised economies) is lower now than it has been on average over the past few decades. Indeed, for the last five years, forecasts of US and global real GDP growth have been persistently biased upwards. As means of i ...
... questions about whether the long-run growth rate of the US economy (and other industrialised economies) is lower now than it has been on average over the past few decades. Indeed, for the last five years, forecasts of US and global real GDP growth have been persistently biased upwards. As means of i ...
Slide 1
... “The historical transformation constituted by the sum of particular forms and instances of …[m]aking or being made global (i) by the active dissemination of practices, values, technology and other human products throughout the globe (ii) when global practices and so on exercise an increasing influen ...
... “The historical transformation constituted by the sum of particular forms and instances of …[m]aking or being made global (i) by the active dissemination of practices, values, technology and other human products throughout the globe (ii) when global practices and so on exercise an increasing influen ...
Russia: RenCap-NES Macro Monitor
... re-estimated after the first official estimate of 4Q13 GDP growth had been published. Although the balance proved in favour of an upward forecast revision, the contributions of the top-five upward and top-five downward forecast revision drivers are roughly equal. Individual predictors send mixed sig ...
... re-estimated after the first official estimate of 4Q13 GDP growth had been published. Although the balance proved in favour of an upward forecast revision, the contributions of the top-five upward and top-five downward forecast revision drivers are roughly equal. Individual predictors send mixed sig ...
Background document - European Central Bank
... records the amounts of interest receivable by the different sectors of the economy, whereas the uses side shows interest payable. For each type of transaction, total resources of all sectors and the rest of the world equal total uses. Each account leads to a meaningful balancing item, the value of ...
... records the amounts of interest receivable by the different sectors of the economy, whereas the uses side shows interest payable. For each type of transaction, total resources of all sectors and the rest of the world equal total uses. Each account leads to a meaningful balancing item, the value of ...
This PDF is a selection from a published volume
... However, the validity of this finding is not general. Even in developed countries one can observe significant movements of the internal real exchange rate, as De Gregorio and Wolf (1994), or more recently, Lopez-Salido, Restoy, and Valles (2005) have documented, but the real importance of this pheno ...
... However, the validity of this finding is not general. Even in developed countries one can observe significant movements of the internal real exchange rate, as De Gregorio and Wolf (1994), or more recently, Lopez-Salido, Restoy, and Valles (2005) have documented, but the real importance of this pheno ...
Urbanization and Growth
... the morals, the health and the liberties of man. True, they nourish some of the elegant arts; but the useful ones can thrive elsewhere” (Peterson 1984). Twenty years later Percy Bysshe Shelley wrote, “Hell is a city much like London.” More recently, Paul Bairoch (1988), the great chronicler of urba ...
... the morals, the health and the liberties of man. True, they nourish some of the elegant arts; but the useful ones can thrive elsewhere” (Peterson 1984). Twenty years later Percy Bysshe Shelley wrote, “Hell is a city much like London.” More recently, Paul Bairoch (1988), the great chronicler of urba ...
THE SPENDING AND SAVING BEHAVIOUR OF THE FINNISH THE FINNISH ECONOMY
... consumption. The two factors are negatively correlated. For example, in a particular time frame and with a fixed income, if an individual is consuming more, it means that he/she is saving less. Whereas, if an individual is saving more, then it means that he/she is consuming less. This example is a g ...
... consumption. The two factors are negatively correlated. For example, in a particular time frame and with a fixed income, if an individual is consuming more, it means that he/she is saving less. Whereas, if an individual is saving more, then it means that he/she is consuming less. This example is a g ...
On the benefits of being a resource-rich southern region of
... by Card (1990) focuses on the labor market impacts in Miami of the Mariel boat lift of Cuban immigrants. Card (1990) proposed a comparison unit consisting of the average outcome of a group of units similar to the treatment unit but without the treatment, i.e., …ve southern cities with labor market o ...
... by Card (1990) focuses on the labor market impacts in Miami of the Mariel boat lift of Cuban immigrants. Card (1990) proposed a comparison unit consisting of the average outcome of a group of units similar to the treatment unit but without the treatment, i.e., …ve southern cities with labor market o ...
Download paper (PDF)
... adjustment of wages and prices so as to instantaneously clear markets. Phelps (1970) offers the parable of an economy in which goods are produced an separate “islands,” each with its own labor market. Wages and employment decisions must be made on each island without an opportunity to observe what ...
... adjustment of wages and prices so as to instantaneously clear markets. Phelps (1970) offers the parable of an economy in which goods are produced an separate “islands,” each with its own labor market. Wages and employment decisions must be made on each island without an opportunity to observe what ...
Poverty, growth and inequality over the next 50 years
... estimates appearing in the literature6 (Table 4.3). The new Chen/Ravallion poverty numbers, while pointing in a direction consistent with the revisions of GDP per capita shown in Table 4.1, raise numerous questions of their own: Has the calculated fall in Chinese poverty really been so dramatic? Hes ...
... estimates appearing in the literature6 (Table 4.3). The new Chen/Ravallion poverty numbers, while pointing in a direction consistent with the revisions of GDP per capita shown in Table 4.1, raise numerous questions of their own: Has the calculated fall in Chinese poverty really been so dramatic? Hes ...
W , D.C.
... Washington, D.C. enjoys a number of additional benefits. The MSA is located roughly in the middle of the Atlantic seaboard, with convenient access to both North and South. Given this location, the MSA is situated on or near many transportation routes, with generally solid infrastructure, including t ...
... Washington, D.C. enjoys a number of additional benefits. The MSA is located roughly in the middle of the Atlantic seaboard, with convenient access to both North and South. Given this location, the MSA is situated on or near many transportation routes, with generally solid infrastructure, including t ...
Energy generation with Directed Technical Change
... endowment and the ability to conduct research in the two energy sectors aect the process, which is driven by a competition between consumption and investments in either one of the research sectors or the capital stock over shares of an universally usable nal good. Since the two energy sources are ...
... endowment and the ability to conduct research in the two energy sectors aect the process, which is driven by a competition between consumption and investments in either one of the research sectors or the capital stock over shares of an universally usable nal good. Since the two energy sources are ...
NBER WORKING PAPER SERIES USING MONETARY CONTROL 10 DAMPEN THE
... and recent critiques based on the rational expectations view of macroeconomic behavior. The paper treats supply shocks and institutional rigidities as constraints faced by policymakers. These influence the optimal degree of monetary accommodation of Supply shocks and the choice among alternative pat ...
... and recent critiques based on the rational expectations view of macroeconomic behavior. The paper treats supply shocks and institutional rigidities as constraints faced by policymakers. These influence the optimal degree of monetary accommodation of Supply shocks and the choice among alternative pat ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... additional 82,000 farm worker families who are dependent upon these farms for their livelihoods, will be displaced by notified SEZs in India. The total loss of income to the farming and the farm worker families, then, is an astounding Rs. 212 crore a year. These were the estimates in 2006 after appr ...
... additional 82,000 farm worker families who are dependent upon these farms for their livelihoods, will be displaced by notified SEZs in India. The total loss of income to the farming and the farm worker families, then, is an astounding Rs. 212 crore a year. These were the estimates in 2006 after appr ...
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).