Recent Economic Developments in Singapore
... growth. The Eurozone’s best performer was Spain, which chalked up robust growth of 4.0% in Q2, driven by a strengthening labour market. Greece also posted an unexpectedly strong expansion of 3.7%, in part because consumers and firms frontloaded spending in anticipation of the imposition of capital c ...
... growth. The Eurozone’s best performer was Spain, which chalked up robust growth of 4.0% in Q2, driven by a strengthening labour market. Greece also posted an unexpectedly strong expansion of 3.7%, in part because consumers and firms frontloaded spending in anticipation of the imposition of capital c ...
Ghana Iceland
... some cases reach farther back in time than many economic statistics. Fertility matters for human capital accumulation, a key source of rapid economic growth. This is because most families with many children cannot afford to send them all to school and, thereby or otherwise, to offer them the opport ...
... some cases reach farther back in time than many economic statistics. Fertility matters for human capital accumulation, a key source of rapid economic growth. This is because most families with many children cannot afford to send them all to school and, thereby or otherwise, to offer them the opport ...
exercises and solutions in some cases
... C. Assume that neither country experiences population growth or technological progress and that 5 percent of capital depreciates each year. Assume further that country A saves 10 percent of output each year, and country B saves 20 percent of output each year. Find the steady state level of capital p ...
... C. Assume that neither country experiences population growth or technological progress and that 5 percent of capital depreciates each year. Assume further that country A saves 10 percent of output each year, and country B saves 20 percent of output each year. Find the steady state level of capital p ...
Question addressed by so-called growth accounting
... TOPIC 0. Review of National Income Accounting and PPP-adjusted GDP Readings: AK, basics of ch. 5. Weil, ch. 1, appendix. Main lesson: The value of the production of a country (GDP) approximately equals the income its citizens. Gross domestic product (GDP) is the market value of all final goods and s ...
... TOPIC 0. Review of National Income Accounting and PPP-adjusted GDP Readings: AK, basics of ch. 5. Weil, ch. 1, appendix. Main lesson: The value of the production of a country (GDP) approximately equals the income its citizens. Gross domestic product (GDP) is the market value of all final goods and s ...
Real Business Cycles - Villanova University
... • Prior to RBC theory the mainstream idea was that aggregate demand caused business cycles (e.g. Keynesian IS-LM model) • Can a dynamic competitive equilibrium (CE) model provide an explanation of business cycles? • In CE without investment, there is no persistence (HW ...
... • Prior to RBC theory the mainstream idea was that aggregate demand caused business cycles (e.g. Keynesian IS-LM model) • Can a dynamic competitive equilibrium (CE) model provide an explanation of business cycles? • In CE without investment, there is no persistence (HW ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... According to the traditional Keynesian theory, an increase in exports is one of the factors that can cause increases in demand and thus will certainly bring about increases in outputs, all other things being equal (Lin and Li, 2007). It is important to note that though this method is highly refined ...
... According to the traditional Keynesian theory, an increase in exports is one of the factors that can cause increases in demand and thus will certainly bring about increases in outputs, all other things being equal (Lin and Li, 2007). It is important to note that though this method is highly refined ...
Is the Nation State the Enemy of Global Equality?
... countries around the European periphery by 22 percent. These big labor supply effects can be converted easily into a real wage impact in both sending and receiving countries. My colleagues and I estimate that effect in a series of papers and conclude that mass migration alone can explain about 70 pe ...
... countries around the European periphery by 22 percent. These big labor supply effects can be converted easily into a real wage impact in both sending and receiving countries. My colleagues and I estimate that effect in a series of papers and conclude that mass migration alone can explain about 70 pe ...
Measuring progress
... ensure that our economic, social and environmental policies are all aimed towards increasing our quality of life. To do this, we need indicators to measure our progress. For environmental issues, we have many indicators - such as levels of air pollution, bathing water quality or the number of butter ...
... ensure that our economic, social and environmental policies are all aimed towards increasing our quality of life. To do this, we need indicators to measure our progress. For environmental issues, we have many indicators - such as levels of air pollution, bathing water quality or the number of butter ...
Finance, Stagnation and Poverty in the World Economy
... labour productivity increases. As for the third world workers themselves, as long as there are substantial labour reserves in their economies, their wages are more or less tied to some historically-experienced subsistence level (not necessarily a biological one) despite increases in their labour pro ...
... labour productivity increases. As for the third world workers themselves, as long as there are substantial labour reserves in their economies, their wages are more or less tied to some historically-experienced subsistence level (not necessarily a biological one) despite increases in their labour pro ...
Econ CH 11 PP
... If consumer spending increases, then businesses find it profitable to increase investment in plants and equipment. When firms become more productive, they use more land, labor, and capital. These increases lead to economic growth in output, employment, and incomes. © 2013 Cengage Learning. All ...
... If consumer spending increases, then businesses find it profitable to increase investment in plants and equipment. When firms become more productive, they use more land, labor, and capital. These increases lead to economic growth in output, employment, and incomes. © 2013 Cengage Learning. All ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Global warming due to climate change has become one of the most important issues in the recent years. CO2 is considered to be the major contributor to global warming. CO2 emissions have grown dramatically in the past century because of human activities, mainly by the use of fossil fuels consumption ...
... Global warming due to climate change has become one of the most important issues in the recent years. CO2 is considered to be the major contributor to global warming. CO2 emissions have grown dramatically in the past century because of human activities, mainly by the use of fossil fuels consumption ...
Asia and the Global Financial Crisis Ben S. Bernanke Welcome Address
... Asia’s Experience in the Crisis During the years following the financial crisis of the late 1990s, many emerging market economies, in Asia and elsewhere, took advantage of relatively good global economic conditions to strengthen their economic and financial fundamentals; they improved their fiscal a ...
... Asia’s Experience in the Crisis During the years following the financial crisis of the late 1990s, many emerging market economies, in Asia and elsewhere, took advantage of relatively good global economic conditions to strengthen their economic and financial fundamentals; they improved their fiscal a ...
The Indian Economy: Concerns and Prospects
... Potential Rate of Growth In the light of India’s economic performance in recent ...
... Potential Rate of Growth In the light of India’s economic performance in recent ...
Problem Set 2
... the labor market; used to denote short-run job/skill matching problems. 2) Contrary to expectations the unemployment rate may decrease during recessions. How can you ...
... the labor market; used to denote short-run job/skill matching problems. 2) Contrary to expectations the unemployment rate may decrease during recessions. How can you ...
FRBSF E L CONOMIC ETTER
... Based on this evidence, they conclude that “Baumol’s disease” has been cured. This refers to Baumol (1967), who pointed out that in an economy where productivity was growing in some but not all sectors (with teaching and hospitals among many examples of the latter), economic growth would slow down o ...
... Based on this evidence, they conclude that “Baumol’s disease” has been cured. This refers to Baumol (1967), who pointed out that in an economy where productivity was growing in some but not all sectors (with teaching and hospitals among many examples of the latter), economic growth would slow down o ...
Chapter 2: The Data of Macroeconomics
... CPI tends to overstate inflation because – Substitution for less expensive goods is not considered in the fixed market basket – New goods are continuously introduced in the market – Improvement in the quality of goods is not considered ...
... CPI tends to overstate inflation because – Substitution for less expensive goods is not considered in the fixed market basket – New goods are continuously introduced in the market – Improvement in the quality of goods is not considered ...
Financialization, income distribution, and aggregate demand in the
... • Net export effects on growth not too important in large economies, where exports and imports are only a small part of total demand → large economies are wage-led • Global race to the bottom: a 1%-point fall in the wage share – global GDP↓ by 0.36% • Conversely a global wage-led recovery scenario: ...
... • Net export effects on growth not too important in large economies, where exports and imports are only a small part of total demand → large economies are wage-led • Global race to the bottom: a 1%-point fall in the wage share – global GDP↓ by 0.36% • Conversely a global wage-led recovery scenario: ...
14.02 Principles of Macroeconomics Problem Set 1 Fall 2005 ***Solution***
... The multiplier tells us how much equilibrium output will change for a given change in autonomous spending. For example, if investment increases by 500, then the equilibrium output will rise by 1,250 (500 *2.5). Why? First, investment increases by 500. Then, this increase in I increases Z (total dema ...
... The multiplier tells us how much equilibrium output will change for a given change in autonomous spending. For example, if investment increases by 500, then the equilibrium output will rise by 1,250 (500 *2.5). Why? First, investment increases by 500. Then, this increase in I increases Z (total dema ...
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.