The Influence of IMF Programs on the Re
... period which affects the current state of the economy.3 The extent of the shock can either be high (Qh), medium (Qm), or low (Ql). Voters do not know which type of shock hit their economy. However, they form expectations about the probabilities associated with each shock (qh, qm, ql). The government ...
... period which affects the current state of the economy.3 The extent of the shock can either be high (Qh), medium (Qm), or low (Ql). Voters do not know which type of shock hit their economy. However, they form expectations about the probabilities associated with each shock (qh, qm, ql). The government ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: The Service Economy
... changes are expressed as annual rates (continuously compounded) between the initial and terminal years. Productivity is always shown as a residual—the difference between the rate of change of real output and the rate of change of whatever input or combination of inputs we are concerned with at the m ...
... changes are expressed as annual rates (continuously compounded) between the initial and terminal years. Productivity is always shown as a residual—the difference between the rate of change of real output and the rate of change of whatever input or combination of inputs we are concerned with at the m ...
Effect of GDP, Interest Rate and Inflation on Private Investment in
... I. Introduction An important ingredient for future growth is increasing private investment in productive capacity backed by higher private savings (Acosta and Loza, 2004). In addition physical and social infrastructures are necessary facilitating factors to compliment private investment and provide ...
... I. Introduction An important ingredient for future growth is increasing private investment in productive capacity backed by higher private savings (Acosta and Loza, 2004). In addition physical and social infrastructures are necessary facilitating factors to compliment private investment and provide ...
Public Infrastructure Underinvestment - ACEC
... the potential identified risk of underinvestment were to occur, it is estimated that employees would lose the opportunity of a 0.5 per cent per annum average increase of their real after-tax income over the next 50 years. In present value terms, this represents an average lost opportunity after tax ...
... the potential identified risk of underinvestment were to occur, it is estimated that employees would lose the opportunity of a 0.5 per cent per annum average increase of their real after-tax income over the next 50 years. In present value terms, this represents an average lost opportunity after tax ...
The Effect of Educational, Health, Infrastructure Expenses on the
... significant influence of human capital on the production. Human capital is believed to be an important factor in the process of economic growth. Endogenous growth theorists argue on the assumption of constant returns to capital, and perceive knowledge as a capital. Compared with other forms of capit ...
... significant influence of human capital on the production. Human capital is believed to be an important factor in the process of economic growth. Endogenous growth theorists argue on the assumption of constant returns to capital, and perceive knowledge as a capital. Compared with other forms of capit ...
The Gini Index, Pietra Ratio and Mean Division
... adjust data with the following criteria to accommodate our regression model. For the data of income distribution, income is defined as disposable income4 measured by household per capita. Sample coverage is nationwide and over all ages of the population. However, if the data available were not sampl ...
... adjust data with the following criteria to accommodate our regression model. For the data of income distribution, income is defined as disposable income4 measured by household per capita. Sample coverage is nationwide and over all ages of the population. However, if the data available were not sampl ...
UK inflation in the 1970s and 1980s: the role of
... reliable set of data on the level of economic activity in the quarter becomes available. Second, the level of potential GDP is subject to revisions both because of new information on its likely value and because of changes in the preferred procedure for measuring potential output, which is an unobse ...
... reliable set of data on the level of economic activity in the quarter becomes available. Second, the level of potential GDP is subject to revisions both because of new information on its likely value and because of changes in the preferred procedure for measuring potential output, which is an unobse ...
Are official budget forecasts more prone to over
... with substantial easing; this helps explain why they experienced a shorter and less severe downturn. There is a huge public choice literature offering political economy explanations for excessive growth of government spending and budget deficits. Budget deficits are often viewed as the product of po ...
... with substantial easing; this helps explain why they experienced a shorter and less severe downturn. There is a huge public choice literature offering political economy explanations for excessive growth of government spending and budget deficits. Budget deficits are often viewed as the product of po ...
Press ECON of Northeastern University
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
Agricultural Expenditure for Economic Growth and
... ABSTRACT A vibrant and an efficient agricultural sector would enable a country to feed its growing population, generate employment, earn foreign exchange and provide raw materials for industries. The agricultural sector has a multiplier effect on any nation's socio-economic and industrial fabric be ...
... ABSTRACT A vibrant and an efficient agricultural sector would enable a country to feed its growing population, generate employment, earn foreign exchange and provide raw materials for industries. The agricultural sector has a multiplier effect on any nation's socio-economic and industrial fabric be ...
gri02-ivaschenko 221455 en
... control for unobservable country-specific effects that result in a missing-variable bias in cross-sectional studies. The striking economic decline at the start of the transition might be one explanation of rising inequality. This decline was associated with dramatic and heterogeneous shocks to real ...
... control for unobservable country-specific effects that result in a missing-variable bias in cross-sectional studies. The striking economic decline at the start of the transition might be one explanation of rising inequality. This decline was associated with dramatic and heterogeneous shocks to real ...
Does the shift of FDI from manufacturing to services accelerate
... with growth, if specific conditions such as skilled labor, high wealth and developed financial markets are met (Borenstein, De Gregorio, Lee, 1998, Blomstrom, Lipsey and Zejan, 1994, Alfaro, Kalemli-Ozcan and Volosovych, 2008). However, at the microeconomic level where all studies have been conducte ...
... with growth, if specific conditions such as skilled labor, high wealth and developed financial markets are met (Borenstein, De Gregorio, Lee, 1998, Blomstrom, Lipsey and Zejan, 1994, Alfaro, Kalemli-Ozcan and Volosovych, 2008). However, at the microeconomic level where all studies have been conducte ...
Forecast Disagreement in the Survey of Professional Forecasters
... the SPF panel use a variety of statistical models to help them make their projections, and this variety of models surely plays a role in forecast disagreement. But how large a role might that be? Their models generally fall into one of two major categories: reducedform models and structural models. ...
... the SPF panel use a variety of statistical models to help them make their projections, and this variety of models surely plays a role in forecast disagreement. But how large a role might that be? Their models generally fall into one of two major categories: reducedform models and structural models. ...
The Effectiveness of the State Coincident Indexes
... state coincident indexes varies across states. For example, Florida, Nevada, and Michigan are highly correlated, while Louisiana, South Dakota, and Nebraska are weakly correlated. Most of the states with weaker correlations are in the central plains. Interestingly, this area of the country has large ...
... state coincident indexes varies across states. For example, Florida, Nevada, and Michigan are highly correlated, while Louisiana, South Dakota, and Nebraska are weakly correlated. Most of the states with weaker correlations are in the central plains. Interestingly, this area of the country has large ...
Free Full Text ( Final Version , 726kb )
... country. There are three major methods to measure productivity level in an economy; using Total Factor Productivity (TFP), using Multi Factor Productivity (MFP), and using Single Factor Productivity (SFP). TFP is derived from Solow’s Growth Model and known as Solow Residual. It is considered as a fa ...
... country. There are three major methods to measure productivity level in an economy; using Total Factor Productivity (TFP), using Multi Factor Productivity (MFP), and using Single Factor Productivity (SFP). TFP is derived from Solow’s Growth Model and known as Solow Residual. It is considered as a fa ...
Real Business Cycles
... markets (employment/output) • Capital markets determine the impact on future labor markets (Investment today affects the capital stock in the future) ...
... markets (employment/output) • Capital markets determine the impact on future labor markets (Investment today affects the capital stock in the future) ...
COMMISSION STAFF WORKING DOCUMENT Analysis of the
... mainly driven by robust domestic demand growth. Since 2013, net external demand contributed negatively to annual real GDP growth, but to a gradually diminishing extent. Conditions in the labour market have significantly improved since the second quarter of 2013. Total employment declined by 2.9% in ...
... mainly driven by robust domestic demand growth. Since 2013, net external demand contributed negatively to annual real GDP growth, but to a gradually diminishing extent. Conditions in the labour market have significantly improved since the second quarter of 2013. Total employment declined by 2.9% in ...
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.