NBER WORKING PAPER SERIES A MODEL OF GROWTH THROUGH CREATIVE DESTRUCTION
... future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business ...
... future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business ...
Chapter 1 - How will Australia change over next 40
... Productivity is a measure of how much is produced, on average, for every hour that is worked. Over the long-term, technological developments are a key contributor to improvements in efficiency, as people and businesses find better ways to do their work. For example, the adoption of information and c ...
... Productivity is a measure of how much is produced, on average, for every hour that is worked. Over the long-term, technological developments are a key contributor to improvements in efficiency, as people and businesses find better ways to do their work. For example, the adoption of information and c ...
rethinking strategy to addressing the informal sector with lessons for
... The City as an Economic Resource Most advanced economies of the world attribute their development to the economic opportunities presented by the growth of their cities. The World Bank has provided evidence suggesting that cities are responsible for 80% of global GDP (World Bank, 2005) in addition t ...
... The City as an Economic Resource Most advanced economies of the world attribute their development to the economic opportunities presented by the growth of their cities. The World Bank has provided evidence suggesting that cities are responsible for 80% of global GDP (World Bank, 2005) in addition t ...
How to be exceptional: Australia in the slowing
... to identify anything recent or likely to emerge that can or will match them for productivity gains. He argues that increased computing power, cheaper telecommunications, and mobile devices will continue to be useful but have not and will not permit productivity increases of the magnitude of earlier ...
... to identify anything recent or likely to emerge that can or will match them for productivity gains. He argues that increased computing power, cheaper telecommunications, and mobile devices will continue to be useful but have not and will not permit productivity increases of the magnitude of earlier ...
Auto Parts & Equipment Manufacturing Industry The Henry Fund Industry Rating
... Competition is primarily based on price and technological advancement. As such, the most successful companies are the ones who make sufficient investments in research and development, operate efficiently, and have achieved global scale. While regulation has always played a role in the evo ...
... Competition is primarily based on price and technological advancement. As such, the most successful companies are the ones who make sufficient investments in research and development, operate efficiently, and have achieved global scale. While regulation has always played a role in the evo ...
economic developments in 2014
... and the Bank of Thailand lowered their key policy rates due mainly to weaker-than-expected domestic demand. Importantly, while the regional economies experienced significant capital flow reversals and depreciation pressures on their currencies towards the end of 2014, these economies remained resili ...
... and the Bank of Thailand lowered their key policy rates due mainly to weaker-than-expected domestic demand. Importantly, while the regional economies experienced significant capital flow reversals and depreciation pressures on their currencies towards the end of 2014, these economies remained resili ...
Privatizating the Public Business Sector in the Eighties: Economic Performance, Partisan Responses and Divided Governments
... For thirty years after the war, the developed world was committed to relatively stable policies and policy-making institutions to spur economic growth.1 On the one hand, policy-makers, embracing Keynesian prescriptions, relied on expansionary fiscal policies to smooth the business cycle.2 On the ot ...
... For thirty years after the war, the developed world was committed to relatively stable policies and policy-making institutions to spur economic growth.1 On the one hand, policy-makers, embracing Keynesian prescriptions, relied on expansionary fiscal policies to smooth the business cycle.2 On the ot ...
Has the Growth of Real GDP in the UK been Overstated because of Mis-Measurement of Banking Output?
... insurance and pension funding”, industry 64 in the Supply and Use Tables) since 2000.9 In 2007 value added was 5.20% of GDP at basic prices and total final expenditure (TFE) net of imports was 5.25% of GDP; intermediate consumption was 3.26% of GDP (source: Supply and Use Tables, 1997-2009).10 These ...
... insurance and pension funding”, industry 64 in the Supply and Use Tables) since 2000.9 In 2007 value added was 5.20% of GDP at basic prices and total final expenditure (TFE) net of imports was 5.25% of GDP; intermediate consumption was 3.26% of GDP (source: Supply and Use Tables, 1997-2009).10 These ...
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... twelve quarters. Mainly domestic factors seem to have caused this slowdown of the US economy. Due to an outstanding first quarter, US GDP growth in 2006 nevertheless reached 3.4 percent (after 3.2 percent in ...
... twelve quarters. Mainly domestic factors seem to have caused this slowdown of the US economy. Due to an outstanding first quarter, US GDP growth in 2006 nevertheless reached 3.4 percent (after 3.2 percent in ...
The Eight Economic Regions of China
... A. National Economy – Misleading A decade ago, to talk about China’s national economy was seriously misleading. It was really a series of provincial economies, which traded little with each other, let alone the outside world. Everywhere had its own set of factories producing a similar set of goods – ...
... A. National Economy – Misleading A decade ago, to talk about China’s national economy was seriously misleading. It was really a series of provincial economies, which traded little with each other, let alone the outside world. Everywhere had its own set of factories producing a similar set of goods – ...
A Reassessment of Industrialization in South America: Argentina
... infrastructure, and they generate a positive demand shock in the local economy. Thus, South America industrialized when there were commodity booms (e.g., before the World War I) (Haber, 2006, Lederman, 2005, Williamson, 2011) and we should find a strong correlation between improvements in the terms ...
... infrastructure, and they generate a positive demand shock in the local economy. Thus, South America industrialized when there were commodity booms (e.g., before the World War I) (Haber, 2006, Lederman, 2005, Williamson, 2011) and we should find a strong correlation between improvements in the terms ...
Ethical Markets: International Public Opinion on Measuring National
... Russia has the highest proportion of respondents who indicate they do not know which statement most aligns with their point of view, double the global average. Opinion leaders in Russia, are much more likely to identify with the “beyond GDP” statement than the general public. 9 out of 10 opinion lea ...
... Russia has the highest proportion of respondents who indicate they do not know which statement most aligns with their point of view, double the global average. Opinion leaders in Russia, are much more likely to identify with the “beyond GDP” statement than the general public. 9 out of 10 opinion lea ...
Economic and Social Council Topic: B Reducing Economic
... Economic inequality is an urgent problem both among different countries and within countries, and it is increasing in severity. In 2010, high-income countries, which account for only 16 percent of the world’s population, were estimated to generate 55 percent of global income. Low-income countries, o ...
... Economic inequality is an urgent problem both among different countries and within countries, and it is increasing in severity. In 2010, high-income countries, which account for only 16 percent of the world’s population, were estimated to generate 55 percent of global income. Low-income countries, o ...
O A
... or point of sale technology use and monitoring of the technical process, is contributing. Hence, the indirect foreign investment, foreign direct investment as opposed to merely an international transfer of funds is The whole or part of its investment in machinery and equipment, raw materials, patent ...
... or point of sale technology use and monitoring of the technical process, is contributing. Hence, the indirect foreign investment, foreign direct investment as opposed to merely an international transfer of funds is The whole or part of its investment in machinery and equipment, raw materials, patent ...
The Effects of Technical Change on Labor Market Inequalities
... the annual return to a college degree (relative to a high-school degree) was 33 percent in the 1980s and over 50 percent in the 1990s (Eckstein and Nagypal 2004). We plot the college wage premium over the period 1963-2002 in Figure 1 (top panel).7 Interestingly, if one slices up the college-educated ...
... the annual return to a college degree (relative to a high-school degree) was 33 percent in the 1980s and over 50 percent in the 1990s (Eckstein and Nagypal 2004). We plot the college wage premium over the period 1963-2002 in Figure 1 (top panel).7 Interestingly, if one slices up the college-educated ...
The Economic Power of Cities: London in a Global Context
... 73% share of English population living in urban areas 26% local government share of public sector expenditure 81% of central government targets are on local spending SOURCE: ONS, DEFRA, CLG Local Government Financial Statistics England 2010, Barker Review, ...
... 73% share of English population living in urban areas 26% local government share of public sector expenditure 81% of central government targets are on local spending SOURCE: ONS, DEFRA, CLG Local Government Financial Statistics England 2010, Barker Review, ...
problem set 1 - Shepherd Webpages
... unemployment rate and participation rate move in the same direction? Explain. c. Ignore part b. Start with the original numbers. Suppose firms experience an increase in the demand for their products and they respond by increasing employment. Specifically, 2 million of the previously unemployed indiv ...
... unemployment rate and participation rate move in the same direction? Explain. c. Ignore part b. Start with the original numbers. Suppose firms experience an increase in the demand for their products and they respond by increasing employment. Specifically, 2 million of the previously unemployed indiv ...
Stagnation Traps Gianluca Benigno and Luca Fornaro January 2015 Preliminary, comments welcome
... agents. We show that the interaction between these two forces can give rise to prolonged periods of low growth and high unemployment. We refer to these episodes as stagnation traps, because they consist in the joint occurrence of a liquidity and a growth trap. In our economy there are two types of a ...
... agents. We show that the interaction between these two forces can give rise to prolonged periods of low growth and high unemployment. We refer to these episodes as stagnation traps, because they consist in the joint occurrence of a liquidity and a growth trap. In our economy there are two types of a ...
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.