This PDF is a selection from a published volume from... National Bureau of Economic Research Volume Title: Globalization in Historical Perspective
... micro level can give rise to increasing returns at a more aggregate level. The balance between increasing and decreasing returns in these models depends crucially on spatial interactions (determining, for example, the extent of the market) and changes in these interactions can have major effects. Glo ...
... micro level can give rise to increasing returns at a more aggregate level. The balance between increasing and decreasing returns in these models depends crucially on spatial interactions (determining, for example, the extent of the market) and changes in these interactions can have major effects. Glo ...
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... European demand. It was primarily stimulated by services (telecommunications in particular), the machinery and electricity industries, and construction and civil engineering. Over the years, the manufacturing and tourist sectors have gained a few percentage points of GDP to the detriment of the prim ...
... European demand. It was primarily stimulated by services (telecommunications in particular), the machinery and electricity industries, and construction and civil engineering. Over the years, the manufacturing and tourist sectors have gained a few percentage points of GDP to the detriment of the prim ...
Incrementum ad Absurdum
... reduction between the 1980s and 1990s (from 2.7% to 1.7%, as against a reduction from 5.3% to 3.1%). However, the ratio to GDP share is slightly higher, and falls somewhat less (from 1.39 to 1.06, as against a reduction from 1.25 to 0.8), consequently remaining greater than unity until 1999. A secon ...
... reduction between the 1980s and 1990s (from 2.7% to 1.7%, as against a reduction from 5.3% to 3.1%). However, the ratio to GDP share is slightly higher, and falls somewhat less (from 1.39 to 1.06, as against a reduction from 1.25 to 0.8), consequently remaining greater than unity until 1999. A secon ...
Applied general equilibrium - Economic Growth and Distribution:On
... have been much more successful in a Clakesch -AGE model. The scheme of the paper is as follows. In section 2 we present the basic SAM suggested by the United Nations (1993). This SAM (and, indeed, the whole system of national accounts), reflects faithfully the processes of production, distribution, ...
... have been much more successful in a Clakesch -AGE model. The scheme of the paper is as follows. In section 2 we present the basic SAM suggested by the United Nations (1993). This SAM (and, indeed, the whole system of national accounts), reflects faithfully the processes of production, distribution, ...
rtf 1.0MB - Australian Education International
... upwards by 1.0% and 0.9% respectively from the IMF forecasts used in the AEI national briefings, reflecting the improving global economic environment. The chart below shows the latest IMF forecasts for real GDP growth for each of the six major countries, plus Australia, from 2008 to 20123. Real GDP ...
... upwards by 1.0% and 0.9% respectively from the IMF forecasts used in the AEI national briefings, reflecting the improving global economic environment. The chart below shows the latest IMF forecasts for real GDP growth for each of the six major countries, plus Australia, from 2008 to 20123. Real GDP ...
neighborhood effects in economic growth
... trade effects that dampens its growth but fosters that of the rest of countries in the world, who experience a terms of trade improvement. Acemoglu and Ventura build on the extensive theoretical literature on the effect that changing terms of trade have for a country’s welfare and growth prospects. ...
... trade effects that dampens its growth but fosters that of the rest of countries in the world, who experience a terms of trade improvement. Acemoglu and Ventura build on the extensive theoretical literature on the effect that changing terms of trade have for a country’s welfare and growth prospects. ...
Answers to First Midterm
... 26. The GDP deflator is calculated using a pre-determined “market basket” of goods and services that includes particular amounts of all goods and services produced in an economy. a. True b. False Answer: B. The GDP deflator is calculated using each year’s level of production of all goods and servic ...
... 26. The GDP deflator is calculated using a pre-determined “market basket” of goods and services that includes particular amounts of all goods and services produced in an economy. a. True b. False Answer: B. The GDP deflator is calculated using each year’s level of production of all goods and servic ...
MDG Strategy Analysis: Methods and an Agenda for
... Together with other determinants, government social services determine the "production" of MDGs. MDGs are modeled as being “produced” by a combination of factors or determinants (table following) using a (reduced) functional form that permits: – Imposition of limits (maximum or minimum) given by log ...
... Together with other determinants, government social services determine the "production" of MDGs. MDGs are modeled as being “produced” by a combination of factors or determinants (table following) using a (reduced) functional form that permits: – Imposition of limits (maximum or minimum) given by log ...
Discussion of ”The cyclical behavior of equilibrium unemployment
... and Malcomson discussed how indexation of the contract to external conditions, e.g. coal contracts to external prices, could be used to avoid renegotiation. However, indexation to steady state productivity growth seems harder to implement, as it is not clear that what extent it is measurable and ve ...
... and Malcomson discussed how indexation of the contract to external conditions, e.g. coal contracts to external prices, could be used to avoid renegotiation. However, indexation to steady state productivity growth seems harder to implement, as it is not clear that what extent it is measurable and ve ...
Some Monetary Facts - Federal Reserve Bank of Minneapolis
... Other evidence for the long-run relationship between money growth and inflation has come from studies using cross-sectional data. In general, these studies include fewer countries and cover a shorter time period than does our study. For example, using a pooled time series-cross-sectional regression, ...
... Other evidence for the long-run relationship between money growth and inflation has come from studies using cross-sectional data. In general, these studies include fewer countries and cover a shorter time period than does our study. For example, using a pooled time series-cross-sectional regression, ...
The Public Sector, Privatization, and Development in Sub
... and to accelerate the development of local resources. The public enterprises would take the role played by private entrepreneurs in other countries and thus help to harness, mobilize and exploit resources which would otherwise lie idle or be developed only by foreigners. The profit generated by thes ...
... and to accelerate the development of local resources. The public enterprises would take the role played by private entrepreneurs in other countries and thus help to harness, mobilize and exploit resources which would otherwise lie idle or be developed only by foreigners. The profit generated by thes ...
The role of Monetary Policy in Post-Keynesian Stock-Flow
... is not universally accepted as a means of payment. We have thus introduced a demand for cash from households, proportional to payments on consumption. The introduction of a government treasury and a central bank also complicates the initial scheme in several ways. First, government expenditures (th ...
... is not universally accepted as a means of payment. We have thus introduced a demand for cash from households, proportional to payments on consumption. The introduction of a government treasury and a central bank also complicates the initial scheme in several ways. First, government expenditures (th ...
Professor Nicholas M. ODHIAMBO, PhD Department of Economics
... since independence. Since then the number of arrivals has increased steadily, with the highest of 750 000 recorded in 2008. Although the upward trajectory of tourism expansion in Tanzania was negatively affected by the recent global economic and financial crisis, the sector still remains a success s ...
... since independence. Since then the number of arrivals has increased steadily, with the highest of 750 000 recorded in 2008. Although the upward trajectory of tourism expansion in Tanzania was negatively affected by the recent global economic and financial crisis, the sector still remains a success s ...
Document
... higher CO2 emissions and this is due to switching to higher levels coal consumption to satisfy the global energy demand. • The less extreme growth reduction does bring about some reductions in CO2 emissions, but these are very small reductions compared to those brought about by targeted climate poli ...
... higher CO2 emissions and this is due to switching to higher levels coal consumption to satisfy the global energy demand. • The less extreme growth reduction does bring about some reductions in CO2 emissions, but these are very small reductions compared to those brought about by targeted climate poli ...
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... We do expect countries affected by the crisis to continue to gradually improve their international competitiveness by further reducing (relative) price levels. Since private debt is often still very high and unemployment rates are also at historically high levels, domestic demand in these countries ...
... We do expect countries affected by the crisis to continue to gradually improve their international competitiveness by further reducing (relative) price levels. Since private debt is often still very high and unemployment rates are also at historically high levels, domestic demand in these countries ...
Supply-side economics and endogenous growth
... In fig. 2, the budget effect is positive for all initial tax rates 7’ between 0.15 and 0.35. Thus, starting from any marginal tax rate between 15% and 35%, taxes can be lowered to 15% and still generate enough revenue to balance the present value budget constraint. Like fig. 1, fig. 2 shows that the ...
... In fig. 2, the budget effect is positive for all initial tax rates 7’ between 0.15 and 0.35. Thus, starting from any marginal tax rate between 15% and 35%, taxes can be lowered to 15% and still generate enough revenue to balance the present value budget constraint. Like fig. 1, fig. 2 shows that the ...
Economic update - Department of Treasury and Finance
... strongly in the March quarter 2017 but the increase was driven by factors which are likely to be temporary such as fuel and electricity price rises. Melbourne’s CPI rose by 0.9 per cent, higher than the national increase of 0.5 per cent. The national CPI recorded an annual increase of 2.1 per cent, ...
... strongly in the March quarter 2017 but the increase was driven by factors which are likely to be temporary such as fuel and electricity price rises. Melbourne’s CPI rose by 0.9 per cent, higher than the national increase of 0.5 per cent. The national CPI recorded an annual increase of 2.1 per cent, ...
Saving-investment Behaviour in Pakistan: An Empirical Investigation
... was preceded by a decline in growth of GDP from 6.79 percent to 3.97 percent in 1983-84. Whereas GDP growth is higher when investment rate is high, e.g. in 199596 when GDP grew at a growth rate of 6.7 percent was matched with a growth of 16.42 percent of investment, in 2003-04 GDP growth of 6.4 is m ...
... was preceded by a decline in growth of GDP from 6.79 percent to 3.97 percent in 1983-84. Whereas GDP growth is higher when investment rate is high, e.g. in 199596 when GDP grew at a growth rate of 6.7 percent was matched with a growth of 16.42 percent of investment, in 2003-04 GDP growth of 6.4 is m ...
... average health expenditure (public and private) in the 1990s was around 5.5% of GDP in the United States and United Kingdom, almost 7% in Belgium, Canada, Denmark, Norway and Switzerland, and above 7% in Germany, France and Sweden. The data on education is as striking. In the USA and the UK more tha ...
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.