The new structural economics. A framework for rethinking
... income one-fifth of the United States, reached 63 percent of U.S. income by 1970 and became the world’s second-largest economy. Japan’s rise was the result of an impressive annual growth performance of 9.6 percent during the 1950s and 1960s, driven by the transformation from an agrarian to an indust ...
... income one-fifth of the United States, reached 63 percent of U.S. income by 1970 and became the world’s second-largest economy. Japan’s rise was the result of an impressive annual growth performance of 9.6 percent during the 1950s and 1960s, driven by the transformation from an agrarian to an indust ...
structural transformation in developing countries - UN
... African economies today are facing the formidable challenge of creating more and better jobs, not just by sustaining the pace of growth but by making it more inclusive. Emerging economies, such as Brazil, China and India have been more successful than most African countries in this respect, achievin ...
... African economies today are facing the formidable challenge of creating more and better jobs, not just by sustaining the pace of growth but by making it more inclusive. Emerging economies, such as Brazil, China and India have been more successful than most African countries in this respect, achievin ...
oecd economic outlook
... It has been said time and again that such imbalances are unsustainable in the long run and may not only reflect the free movement of capital towards the best investment opportunities worldwide, but also to a large extent underlying failures in the area of fiscal, structural and exchange rate policie ...
... It has been said time and again that such imbalances are unsustainable in the long run and may not only reflect the free movement of capital towards the best investment opportunities worldwide, but also to a large extent underlying failures in the area of fiscal, structural and exchange rate policie ...
Adverse Selection, Slow Moving Capital and Misallocation
... adverse selection are commonly used to study the sale of claims on firms’ capital (see, for instance Leland and Pyle, 1977; Myers and Majluf, 1984; Brennan and Kraus, 1987; Lucas and McDonald, 1990; Korajczyk, Lucas and McDonald, 1991). Several papers papers provide empirical evidence documenting a ...
... adverse selection are commonly used to study the sale of claims on firms’ capital (see, for instance Leland and Pyle, 1977; Myers and Majluf, 1984; Brennan and Kraus, 1987; Lucas and McDonald, 1990; Korajczyk, Lucas and McDonald, 1991). Several papers papers provide empirical evidence documenting a ...
Has M2 Demand Become Unstable?
... curve variable, namely, the long-term nominal interest rate minus the own rate on M2. This variable captures substitutions by households out of M2 into long-term financial assets. The empirical work shows that the yield curve variable is significant in a money demand regression that includes post-19 ...
... curve variable, namely, the long-term nominal interest rate minus the own rate on M2. This variable captures substitutions by households out of M2 into long-term financial assets. The empirical work shows that the yield curve variable is significant in a money demand regression that includes post-19 ...
the dynamics of innovation and investment
... reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological breakthroughs; both reflect reactions by the private sector (in the former case) or the public sector (in the latter) to problems in the downswing of the previous business cycle. ...
... reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological breakthroughs; both reflect reactions by the private sector (in the former case) or the public sector (in the latter) to problems in the downswing of the previous business cycle. ...
Trust and the Growth of Government John Garen and J.R. Clark
... Good Government, Trust, and Productivity There are a number of functions of government that most agree are value increasing. These include establishing and enforcing ...
... Good Government, Trust, and Productivity There are a number of functions of government that most agree are value increasing. These include establishing and enforcing ...
LINK Global Economic Outlook 2015-2016 Unedited United Nations
... A salient feature for major developed countries during 2014 has been the erratic movements in their quarterly GDP growth rates. For example, the economy of the United States oscillated from a decline of 2.1 per cent in the first quarter of 2014 to an increase of 4.6 per cent in the second quarter, ...
... A salient feature for major developed countries during 2014 has been the erratic movements in their quarterly GDP growth rates. For example, the economy of the United States oscillated from a decline of 2.1 per cent in the first quarter of 2014 to an increase of 4.6 per cent in the second quarter, ...
NBER WORKING PAPER SERIES
... This research has been supported by the National Science Foundation and the German Marshall Fund. I am grateful to Jacques Artus for contributing segments of the data, to Daniel Shiman for creating the data bank, and for helpful comments to William Branson, Heinz Konig, and participants in workshops ...
... This research has been supported by the National Science Foundation and the German Marshall Fund. I am grateful to Jacques Artus for contributing segments of the data, to Daniel Shiman for creating the data bank, and for helpful comments to William Branson, Heinz Konig, and participants in workshops ...
Technical appendix: Integrated economic analysis
... quantity changes relative to current levels. For example, climate-driven changes in labor productivity are measured in terms of full-time equivalent employees, assuming current labor market conditions. In translating these changes in quantity to changes in value, we measure them against current econ ...
... quantity changes relative to current levels. For example, climate-driven changes in labor productivity are measured in terms of full-time equivalent employees, assuming current labor market conditions. In translating these changes in quantity to changes in value, we measure them against current econ ...
Determinants of the Cost of Starting a Business
... setting-up firms, where these changes are captured via the adoption or not of the SARE program. In our estimates, we control for states’ financial solvency, state’s per capita income levels, and we also include regional fixed effects to consider for the possible effect of local factors on the costs ...
... setting-up firms, where these changes are captured via the adoption or not of the SARE program. In our estimates, we control for states’ financial solvency, state’s per capita income levels, and we also include regional fixed effects to consider for the possible effect of local factors on the costs ...
DISENTANGLING THE POVERTY EFFECTS OF SECTORAL OUTPUT, PRICES AND POLICIES IN INDIA
... South and South-West Asia Development Papers 1202 May 2012 incorporate poverty within the Fund-Bank framework]. This channel is potentially important because often researchers find that anti-poverty policies do not seem to be particularly effective at reducing poverty in developing countries; the m ...
... South and South-West Asia Development Papers 1202 May 2012 incorporate poverty within the Fund-Bank framework]. This channel is potentially important because often researchers find that anti-poverty policies do not seem to be particularly effective at reducing poverty in developing countries; the m ...
NBER WORKING PAPER SERIES PRODUCTIVITY, EXTERNAL BALANCE AND
... expansion is initially associated with stronger international prices of domestic tradables prices, and a trade de…cit. This characterization of cyclical expansions is reminiscent of models attributing international business cycle movements to demand shocks — such as the Mundell-Fleming-Dornbusch (MF ...
... expansion is initially associated with stronger international prices of domestic tradables prices, and a trade de…cit. This characterization of cyclical expansions is reminiscent of models attributing international business cycle movements to demand shocks — such as the Mundell-Fleming-Dornbusch (MF ...
Region of Peel Economic Study: Water and Wastewater
... Direct impact is the economic impact (such as wages, tax revenue, and employment) by industries which are directly responsible for the building and/or the implementation of the infrastructure. These activities are the initial beneficiaries of the investment as the industries will nee ...
... Direct impact is the economic impact (such as wages, tax revenue, and employment) by industries which are directly responsible for the building and/or the implementation of the infrastructure. These activities are the initial beneficiaries of the investment as the industries will nee ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: International Aspects of Fiscal Policies
... tions about capital mobility, I go on to consider empirically the extent of international capital mobility. Drawing on both the theoretical and empirical analysis, I attempt to assess the likely impact of alternative tax reforms on international competitiveness. The common assumption that capital fl ...
... tions about capital mobility, I go on to consider empirically the extent of international capital mobility. Drawing on both the theoretical and empirical analysis, I attempt to assess the likely impact of alternative tax reforms on international competitiveness. The common assumption that capital fl ...
2014 - Venture Kamloops
... 3) Identification of Data Sources and Model Specification – the availability of data and their limitations must be recognized in constructing an economic model that will provide a forecast of overall economic growth for the City of Kamloops in the next 10 years. The first observation we are making h ...
... 3) Identification of Data Sources and Model Specification – the availability of data and their limitations must be recognized in constructing an economic model that will provide a forecast of overall economic growth for the City of Kamloops in the next 10 years. The first observation we are making h ...
The Marginal Product of Capital
... ⌬Y on ⌬K for different sets of counties and comparing the coefficient on ⌬K. Unfortunately, this approach typically relies on unrealistic identification assumptions. The third strategy is calibration, which involves choosing a functional form for the relationship between physical capital and output, ...
... ⌬Y on ⌬K for different sets of counties and comparing the coefficient on ⌬K. Unfortunately, this approach typically relies on unrealistic identification assumptions. The third strategy is calibration, which involves choosing a functional form for the relationship between physical capital and output, ...
Millennium Development Goals: Challenges and Prospects for
... exercise. This report therefore looks at each of the components of the MDGs assessment in the context of Ethiopia. In terms of context, it is the view of this report that the goals indicated in the MDGs are timely and of utmost urgency to the realities prevailing in Ethiopia. While setting prioritie ...
... exercise. This report therefore looks at each of the components of the MDGs assessment in the context of Ethiopia. In terms of context, it is the view of this report that the goals indicated in the MDGs are timely and of utmost urgency to the realities prevailing in Ethiopia. While setting prioritie ...
OnlineAppendix
... determined using equation (8). When f = 1, one can use the same procedure but instead of solving for Z̄ (the BGP level of Z, given Ar , is not pinned down), one must solve for the growth rate ḡz (and the corresponding values of d̄, ȳrI and N̄ (0)). The innovation intensity of the economy, s̄r , is ...
... determined using equation (8). When f = 1, one can use the same procedure but instead of solving for Z̄ (the BGP level of Z, given Ar , is not pinned down), one must solve for the growth rate ḡz (and the corresponding values of d̄, ȳrI and N̄ (0)). The innovation intensity of the economy, s̄r , is ...
Production and Growth
... ideas about how best to produce goods and services, which in turn, might enter society’s pool of knowledge and provide an external benefit to others. ...
... ideas about how best to produce goods and services, which in turn, might enter society’s pool of knowledge and provide an external benefit to others. ...
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.