1 Talk given in Peterborough alongside presentation of the Q2 2014... Monitor results.
... Domestic Product (GDP). The figures quoted in the media are after adjustment for changes in price levels. GDP is a measure of the scale of economic activity. In simple terms, it measures the quantity of goods and services produced by an economy. The quantity is measured in monetary terms, using mark ...
... Domestic Product (GDP). The figures quoted in the media are after adjustment for changes in price levels. GDP is a measure of the scale of economic activity. In simple terms, it measures the quantity of goods and services produced by an economy. The quantity is measured in monetary terms, using mark ...
How Much Will China Grow? - The International Economy
... year ends and is never revised—while typically showing steady growth that varies little from year to year. How’s that for efficiency in data collection! China’s output data is more a political report than an economic one. In the middle part of this decade real growth was likely higher than the numbe ...
... year ends and is never revised—while typically showing steady growth that varies little from year to year. How’s that for efficiency in data collection! China’s output data is more a political report than an economic one. In the middle part of this decade real growth was likely higher than the numbe ...
An Estimation of Inflation Threshold for Nigeria 1970-2008
... three percent for developed countries and seven to eleven percent for developing countries. Also, the study reveals some levels of negative but statistically significant relationship between the rates of inflation and the levels of economic growth in the economies studied were robust. Although the e ...
... three percent for developed countries and seven to eleven percent for developing countries. Also, the study reveals some levels of negative but statistically significant relationship between the rates of inflation and the levels of economic growth in the economies studied were robust. Although the e ...
India in the 1980s and 1990s: A Triumph of Reforms
... currently Member, Planning Commission wrote the following to the author: “I am somewhat intrigued by the statement of Delong & Rodrik stressing change in official attitude over change in policies implying that if attitude changed for good, growth would have been sustained even without reforms in the ...
... currently Member, Planning Commission wrote the following to the author: “I am somewhat intrigued by the statement of Delong & Rodrik stressing change in official attitude over change in policies implying that if attitude changed for good, growth would have been sustained even without reforms in the ...
NBER WORKING PAPER SERIES THE WEITZMAN MODEL REVISITED
... Eisner 1988). Sefton and Weale (2006) conclude that they should not be included in income as long as the economy is closed, whereas Asheim (1996) reaches the opposite conclusion. Our results agree with Sefton and Weale so long as there is no technical change or openness to trade, but we also find th ...
... Eisner 1988). Sefton and Weale (2006) conclude that they should not be included in income as long as the economy is closed, whereas Asheim (1996) reaches the opposite conclusion. Our results agree with Sefton and Weale so long as there is no technical change or openness to trade, but we also find th ...
Arnold--Macro GDP
... • GDP is the total market value of all final goods and services produced annually within a country’s borders. • Expenditure Approach: compute GDP by adding the money spent by buyers on final goods and services. What are final goods? What are intermediate goods? What’s the difference? • Income Approa ...
... • GDP is the total market value of all final goods and services produced annually within a country’s borders. • Expenditure Approach: compute GDP by adding the money spent by buyers on final goods and services. What are final goods? What are intermediate goods? What’s the difference? • Income Approa ...
Liberia’s Desperate Cry for Growth and Employment and
... and renewed frustration among many Liberians, particularly young people, who are now expressing public outrage and threatening mass demonstrations. Investments by the government of Liberia in local industries that could have created new jobs have been virtually absent. Since the end of the civil war ...
... and renewed frustration among many Liberians, particularly young people, who are now expressing public outrage and threatening mass demonstrations. Investments by the government of Liberia in local industries that could have created new jobs have been virtually absent. Since the end of the civil war ...
The impact of public investment in Sweden: A VAR approach.
... it matters to establish the difference between public spending and public investment. While public spending encompasses total public expenditure, public investment concerns the share that is spent on infrastructure, in its widest sense. This paper focuses mainly on the effect that public investment ...
... it matters to establish the difference between public spending and public investment. While public spending encompasses total public expenditure, public investment concerns the share that is spent on infrastructure, in its widest sense. This paper focuses mainly on the effect that public investment ...
SECOND GENERATION INNOVATION
... and causality techniques, Oxley and Greasley (1998) suggest that the Industrial Revolution was shaped mostly by technological progress. Crafts (1995) and Oxley and Greasley (1998) focus on the validity of the first-generation endogenous growth models of Grossman and Helpman (1990) and Rebelo (1991) ...
... and causality techniques, Oxley and Greasley (1998) suggest that the Industrial Revolution was shaped mostly by technological progress. Crafts (1995) and Oxley and Greasley (1998) focus on the validity of the first-generation endogenous growth models of Grossman and Helpman (1990) and Rebelo (1991) ...
Charting Ways out of Europe’s Impasse – A Policy Memorandum
... specialisation in capital goods and development of production networks linking to itself neighbouring countries to the East. Countries in other parts of Europe, including the United Kingdom, France, Italy and Spain, lost ground not only to Germany but also to Poland and other new entrants in the Eas ...
... specialisation in capital goods and development of production networks linking to itself neighbouring countries to the East. Countries in other parts of Europe, including the United Kingdom, France, Italy and Spain, lost ground not only to Germany but also to Poland and other new entrants in the Eas ...
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... appreciation of the euro, frequently include such special factors as higher oil prices, bad weather conditions and animal ...
... appreciation of the euro, frequently include such special factors as higher oil prices, bad weather conditions and animal ...
Chapter 4: The Theory of Economic Growth
... In the case of the Solow growth model, the key variable is labor productivity: output per worker, how much the average worker in the economy is able to produce. We calculate output per worker by simply taking the economy’s level of real GDP or output Y, and ...
... In the case of the Solow growth model, the key variable is labor productivity: output per worker, how much the average worker in the economy is able to produce. We calculate output per worker by simply taking the economy’s level of real GDP or output Y, and ...
Does Annual Real Gross Domestic Product per Capita Overstate or
... Economists have suggested many alternative measures of human welfare, including life expectancy, infant mortality rate, caloric intake, access to safe water, adult literacy rate, school enrollment, the distribution of income, hospital beds per capita, and a long list of other similar measures of the ...
... Economists have suggested many alternative measures of human welfare, including life expectancy, infant mortality rate, caloric intake, access to safe water, adult literacy rate, school enrollment, the distribution of income, hospital beds per capita, and a long list of other similar measures of the ...
E U R N
... cover a large spectrum of causes. As a first step, economists are used to correct rough data from seasonal volatility. But even when seasonally adjusted data are considered, the main task of the economists observing economic movements in real time consists in distinguishing short term fluctuations ( ...
... cover a large spectrum of causes. As a first step, economists are used to correct rough data from seasonal volatility. But even when seasonally adjusted data are considered, the main task of the economists observing economic movements in real time consists in distinguishing short term fluctuations ( ...
1 Principles of Macroeconomics, 9e
... population would decline because to increase agricultural output, people would be forced A) to farm the land more intensively and to farm less productive land. B) to farm the land less intensively and to farm more productive land. C) to farm the land more intensively and to farm more productive land ...
... population would decline because to increase agricultural output, people would be forced A) to farm the land more intensively and to farm less productive land. B) to farm the land less intensively and to farm more productive land. C) to farm the land more intensively and to farm more productive land ...
NORC at the University of Chicago
... broad trends regarding the location choices of foreign PhD students educated in the United States. In Section III, we present our empirical specification and results on the intent to stay in the United States. In Section IV, we use our empirical results to decompose variation in stay rates for PhDs ...
... broad trends regarding the location choices of foreign PhD students educated in the United States. In Section III, we present our empirical specification and results on the intent to stay in the United States. In Section IV, we use our empirical results to decompose variation in stay rates for PhDs ...
Trade-offs between democracy and growth
... 1970s-1990s as measured by increments of political rights indices. Second, we elaborate on Zacharia's distinction between democracy and law and order (order based on legal rules); the latter is measured by the rule of law, investors' risk and corruption indices. We try to check two interconnected th ...
... 1970s-1990s as measured by increments of political rights indices. Second, we elaborate on Zacharia's distinction between democracy and law and order (order based on legal rules); the latter is measured by the rule of law, investors' risk and corruption indices. We try to check two interconnected th ...
here - University of Malta
... for the possibility that low income countries would tend to grow at a faster rate than higher income countries in line with the so-called convergence theory and to the possibility that backward countries tend to catch-up technologically, by amongst other things adopting technological advances previo ...
... for the possibility that low income countries would tend to grow at a faster rate than higher income countries in line with the so-called convergence theory and to the possibility that backward countries tend to catch-up technologically, by amongst other things adopting technological advances previo ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: New Developments in Productivity Analysis
... much too large or much too small, depending on one’s view of the matter. The truth undoubtedly lies somewhere between the two extremes, but where? This essay attempts to illuminate, if not answer, this question. Its 2. If all prices (not just the CPI prices) grew at a rate that was actually 0.6 perc ...
... much too large or much too small, depending on one’s view of the matter. The truth undoubtedly lies somewhere between the two extremes, but where? This essay attempts to illuminate, if not answer, this question. Its 2. If all prices (not just the CPI prices) grew at a rate that was actually 0.6 perc ...
research paper series Research Paper 2007/32
... policies favoring the coastal region have worsened regional income inequality, arguing for more resources to be allocated to the disadvantaged areas (Lakshmanan and Hua, 1987; Kueh, 1989; Cannon, 1990; Yang, 1990 and 1991; Kato, 1992; Chai, 1996; Yao, 1999; Yao and Zhang, 2001a and 2001b; Fu, 2004; ...
... policies favoring the coastal region have worsened regional income inequality, arguing for more resources to be allocated to the disadvantaged areas (Lakshmanan and Hua, 1987; Kueh, 1989; Cannon, 1990; Yang, 1990 and 1991; Kato, 1992; Chai, 1996; Yao, 1999; Yao and Zhang, 2001a and 2001b; Fu, 2004; ...
Working Paper 147
... Table 1 reports growth rates for the three EU countries, Ireland, Portugal and Spain, that experienced fast growth in the last two decades of the 20th century. The rate of growth of per capita GDP is decomposed as the sum of the rates of growth of total factor productivity (TFP), the capital-labour ...
... Table 1 reports growth rates for the three EU countries, Ireland, Portugal and Spain, that experienced fast growth in the last two decades of the 20th century. The rate of growth of per capita GDP is decomposed as the sum of the rates of growth of total factor productivity (TFP), the capital-labour ...
the growth response to natural disasters
... in response to disasters. The authors conclude that diversification of the economy can help mitigate the effects of natural disasters. Using a panel vector auto-regression model, Raddatz (2007) examined the dynamic impacts of external shocks, including natural disasters, on the volatility of output. ...
... in response to disasters. The authors conclude that diversification of the economy can help mitigate the effects of natural disasters. Using a panel vector auto-regression model, Raddatz (2007) examined the dynamic impacts of external shocks, including natural disasters, on the volatility of output. ...
What value is gross domestic product?
... identification, separation, and measurement of the benefits and costs of economic activity as well as the incorporation of any net depletion of resource stocks, waste sinks, and critical ecosystem services. Unfortunately, real GDP fails miserably as an indicator of sustainable economic welfare. To b ...
... identification, separation, and measurement of the benefits and costs of economic activity as well as the incorporation of any net depletion of resource stocks, waste sinks, and critical ecosystem services. Unfortunately, real GDP fails miserably as an indicator of sustainable economic welfare. To b ...
LCwasL56_en.pdf
... than being caused by the normal cyclical rebound in output, the acceleration is attributed to the digital technology revolution, and results into higher profit expectations and surging stock prices. The resulting “ wealth effect” is potentially inflationary since it increases demand more than even t ...
... than being caused by the normal cyclical rebound in output, the acceleration is attributed to the digital technology revolution, and results into higher profit expectations and surging stock prices. The resulting “ wealth effect” is potentially inflationary since it increases demand more than even t ...
Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.In economics, ""economic growth"" or ""economic growth theory"" typically refers to growth of potential output, i.e., production at ""full employment"". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.