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Although understanding economic growth has always been the
... Section 3 discusses the possibility of perpetual growth and slowdown. De La Grandville and Solow (2004) have demonstrated that for a country to grow indefinitely without technological progress, σ must exceed a critical value ( σ Hc ) that is greater than 1. This critical value depends on saving, po ...
... Section 3 discusses the possibility of perpetual growth and slowdown. De La Grandville and Solow (2004) have demonstrated that for a country to grow indefinitely without technological progress, σ must exceed a critical value ( σ Hc ) that is greater than 1. This critical value depends on saving, po ...
Recession and recovery
... The recession was the ‘deepest’ recession (in terms of lost output) in the UK since quarterly data were first published in 1955. Actual growth in 2009 saw the sharpest fall in GDP (-5.0%) in a calendar year since official figures began in 1949 and the highest fall since 1931, excluding the recession ...
... The recession was the ‘deepest’ recession (in terms of lost output) in the UK since quarterly data were first published in 1955. Actual growth in 2009 saw the sharpest fall in GDP (-5.0%) in a calendar year since official figures began in 1949 and the highest fall since 1931, excluding the recession ...
Figure 12.1
... Source: van Marrewijk (2012); indicated are the largest loans to individual banks in billion US $; these occur at different dates, but all are either in 2008 or in 2009. ...
... Source: van Marrewijk (2012); indicated are the largest loans to individual banks in billion US $; these occur at different dates, but all are either in 2008 or in 2009. ...
Institutional Reform and Economic Growth in Africa
... terms of population) countries in the sample (such as Nigeria, Egypt, South Africa, etc…) might have larger variances than error terms associated with smaller countries, such as Benin, Gabon, Ghana and Togo. As is well known, if the model’s error term is not homoscedastic then OLS estimates will not ...
... terms of population) countries in the sample (such as Nigeria, Egypt, South Africa, etc…) might have larger variances than error terms associated with smaller countries, such as Benin, Gabon, Ghana and Togo. As is well known, if the model’s error term is not homoscedastic then OLS estimates will not ...
Economic Growth and Instability
... Cost-push Inflation (or supply-side inflation): • Prices rise because of a rise in per-unit production costs (Unit cost = total input cost/units of output). • Output and employment decline while the price level is rising. • Supply shocks have been the major source of cost-push inflation. • These typ ...
... Cost-push Inflation (or supply-side inflation): • Prices rise because of a rise in per-unit production costs (Unit cost = total input cost/units of output). • Output and employment decline while the price level is rising. • Supply shocks have been the major source of cost-push inflation. • These typ ...
E Economic and Social Council United Nations
... environment in the region would suggest that there is further room for an easy monetary policy stance. Indeed, many economies have continued lowering policy interest rates, though this has not really lifted economic growth so far. However, in many economies, considerations relating to financial stab ...
... environment in the region would suggest that there is further room for an easy monetary policy stance. Indeed, many economies have continued lowering policy interest rates, though this has not really lifted economic growth so far. However, in many economies, considerations relating to financial stab ...
Economic Efficiency in Transition: The Case of Ukraine
... a comprehensive measure of economic efficiency using the production function framework and estimate it for the Ukraine economy. There exist namely a vast amount of indicators that support our hypothesis on the diminishing efficiency of the Ukraine economy in the last years. Our in-depth analysis shows t ...
... a comprehensive measure of economic efficiency using the production function framework and estimate it for the Ukraine economy. There exist namely a vast amount of indicators that support our hypothesis on the diminishing efficiency of the Ukraine economy in the last years. Our in-depth analysis shows t ...
Parkin-Bade Chapter 30
... All economies have access to the same technologies and capital is free to roam the globe, seeking the highest available real interest rate. These facts imply that economic growth rates and real GDP per person across economies will converge. Figure 22.3 shows some convergence among rich countries, bu ...
... All economies have access to the same technologies and capital is free to roam the globe, seeking the highest available real interest rate. These facts imply that economic growth rates and real GDP per person across economies will converge. Figure 22.3 shows some convergence among rich countries, bu ...
Chapter 1
... Objectives of Development • To increase the availability and distribution of basic human necessities • To improve the standard of living for the majority of the people • To expand the range of economic and social choices and opportunities Copyright © 2009 Pearson Addison-Wesley. All rights reserved ...
... Objectives of Development • To increase the availability and distribution of basic human necessities • To improve the standard of living for the majority of the people • To expand the range of economic and social choices and opportunities Copyright © 2009 Pearson Addison-Wesley. All rights reserved ...
Life Cycle Savings, Bequest, and the Diminishing Impact of Scale on
... explain why the importance of bequest declines, it serves to demonstrate that a changing importance of bequest and life-cycle savings in capital accumulation could be part of an answer. The analysis makes use of a one sector overlapping generations model fea1 Alcalá and Ciccone (2004), however, do f ...
... explain why the importance of bequest declines, it serves to demonstrate that a changing importance of bequest and life-cycle savings in capital accumulation could be part of an answer. The analysis makes use of a one sector overlapping generations model fea1 Alcalá and Ciccone (2004), however, do f ...
The Estimated Macroeconomic Effects of the No. 11-2
... GDP growth for one-quarter that exceeds potential GDP growth by 1 percentage point results in a oneeighth (0.125) percentage point decline in the unemployment rate. Equivalently, quarterly growth in GDP that exceeds potential growth by 1 percentage point for a year typically lowers the unemployment ...
... GDP growth for one-quarter that exceeds potential GDP growth by 1 percentage point results in a oneeighth (0.125) percentage point decline in the unemployment rate. Equivalently, quarterly growth in GDP that exceeds potential growth by 1 percentage point for a year typically lowers the unemployment ...
Does Economic Growth Reduce the Mortality Rate?
... very weak, but a positive relation to age-adjusted mortality rates” Brenner, M H (2005), This should hold good for any country in the world however, with the degree of their development status. There is enough empirical evidence that economic growth, cumulatively over at least a decade, is the centr ...
... very weak, but a positive relation to age-adjusted mortality rates” Brenner, M H (2005), This should hold good for any country in the world however, with the degree of their development status. There is enough empirical evidence that economic growth, cumulatively over at least a decade, is the centr ...
The Business Cycle
... Between 1960 and 1995, real GDP per capita in Singapore grew at an average annual rate of 6.2 percent. This very rapid growth rate results in the level of real GDP per capita doubling about every 11.3 years. In 1995, Alywn Young of the University of Chicago published an article in which he argued th ...
... Between 1960 and 1995, real GDP per capita in Singapore grew at an average annual rate of 6.2 percent. This very rapid growth rate results in the level of real GDP per capita doubling about every 11.3 years. In 1995, Alywn Young of the University of Chicago published an article in which he argued th ...
Assignments
... national election results using an economic model. Using the data calculated in Assignment 1, you will generate election forecasts for the 2000 presidential election using an economic model developed by Ray Fair at Yale University. In addition, you will compare your predictions to those from public ...
... national election results using an economic model. Using the data calculated in Assignment 1, you will generate election forecasts for the 2000 presidential election using an economic model developed by Ray Fair at Yale University. In addition, you will compare your predictions to those from public ...
data - Monetary Authority of Singapore
... Q3, even as private consumption decelerated to its slowest pace in two years. In Korea, growth accelerated to 5.3% q-o-q saar in Q3 from 1.3% in the preceding quarter on a rebound in private consumption, as the effects of the MERS outbreak dissipated. Looking ahead, only a modest pickup in growth fo ...
... Q3, even as private consumption decelerated to its slowest pace in two years. In Korea, growth accelerated to 5.3% q-o-q saar in Q3 from 1.3% in the preceding quarter on a rebound in private consumption, as the effects of the MERS outbreak dissipated. Looking ahead, only a modest pickup in growth fo ...
Answer Key
... Recall that the growth rate of a ratio is the difference between the growth rate of the numerator and denominator so the growth rate of money is the growth rate of GDP divided by the growth rate of velocity: gM = gGDP – gV. Recall, also that the growth rate of a product of two variables is the sum o ...
... Recall that the growth rate of a ratio is the difference between the growth rate of the numerator and denominator so the growth rate of money is the growth rate of GDP divided by the growth rate of velocity: gM = gGDP – gV. Recall, also that the growth rate of a product of two variables is the sum o ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... transfer problem. The rest is suspended to free budget resources for investment and to dispense with inflationary finance. If the program succeeds in reconstructing the economy, creditors fully benefit from the increased ability to pay. Creditors have an interest in such a program because the curren ...
... transfer problem. The rest is suspended to free budget resources for investment and to dispense with inflationary finance. If the program succeeds in reconstructing the economy, creditors fully benefit from the increased ability to pay. Creditors have an interest in such a program because the curren ...
MEXICO 2010-2012. MACROECONOMIC FORECAST
... Our forecast points out lower growth rates of GDP and employment in the quarters and years to come. To sum up, we depict a conservative Mexican macroeconomic scenario for 2010.3-2012.4 which will depend mainly on what will happen in Mexico and in the United States. Unfortunately, several external sh ...
... Our forecast points out lower growth rates of GDP and employment in the quarters and years to come. To sum up, we depict a conservative Mexican macroeconomic scenario for 2010.3-2012.4 which will depend mainly on what will happen in Mexico and in the United States. Unfortunately, several external sh ...
October 2014 Mid-American Report (All States)
... Components of the index from the monthly survey of supply managers were new orders at 48.3, production or sales at 45.1, delivery lead time at 62.4, employment at 52.2, and inventories at 49.5. Iowa’s manufacturing sector, both durable and nondurable goods producers, are experiencing much slower gro ...
... Components of the index from the monthly survey of supply managers were new orders at 48.3, production or sales at 45.1, delivery lead time at 62.4, employment at 52.2, and inventories at 49.5. Iowa’s manufacturing sector, both durable and nondurable goods producers, are experiencing much slower gro ...
Economic growth
![](https://commons.wikimedia.org/wiki/Special:FilePath/Gdp_accumulated_change.png?width=300)
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.