An Exploration of Technology Diffusion
... of adoption. Our model is thus very similar in spirit to the barriers to riches model of Parente and Prescott (1994), which yields endogenous TFP di¤erentials across countries due to di¤erent adoption lags. The endogenous adoption decisions determine the growth rate of productivity embodied in the ...
... of adoption. Our model is thus very similar in spirit to the barriers to riches model of Parente and Prescott (1994), which yields endogenous TFP di¤erentials across countries due to di¤erent adoption lags. The endogenous adoption decisions determine the growth rate of productivity embodied in the ...
MerCAtus reseArCh
... debt-to-GDP ratio. The general consensus is that fiscal adjustment packages made mostly of spending cuts are more likely to lead to lasting debt reduction than those made of tax increases. There is still significant debate about the short-term economic impact of fiscal adjustments. However, as we wi ...
... debt-to-GDP ratio. The general consensus is that fiscal adjustment packages made mostly of spending cuts are more likely to lead to lasting debt reduction than those made of tax increases. There is still significant debate about the short-term economic impact of fiscal adjustments. However, as we wi ...
The Shifting Composition of External Liabilities André Faria International Monetary Fund
... fuels, metals, and ores as a ratio to total exports). Several of these potential explanatory variables are correlated with each other, highlighting the importance of using multivariate regressions. Estimation is by ordinary least squares. Faria and Mauro (2004) show that estimation by instrumental v ...
... fuels, metals, and ores as a ratio to total exports). Several of these potential explanatory variables are correlated with each other, highlighting the importance of using multivariate regressions. Estimation is by ordinary least squares. Faria and Mauro (2004) show that estimation by instrumental v ...
Who benefits from productivity growth? – The labour income share
... Osborne from Oxford University estimates that 47% of United States employment is at high risk of automation, suggesting that labour market dislocation will not end any time soon. In large part, the current wave of new technology is labour-saving in that it reduces the labour input needed in the prod ...
... Osborne from Oxford University estimates that 47% of United States employment is at high risk of automation, suggesting that labour market dislocation will not end any time soon. In large part, the current wave of new technology is labour-saving in that it reduces the labour input needed in the prod ...
Chapter 29
... When the price level rises and the money wage rate is constant, the real wage rate falls and employment increases. The quantity of real GDP supplied increases. When the price level falls and the money wage rate is constant, the real wage rate rises and employment decreases. The quantity of real GDP ...
... When the price level rises and the money wage rate is constant, the real wage rate falls and employment increases. The quantity of real GDP supplied increases. When the price level falls and the money wage rate is constant, the real wage rate rises and employment decreases. The quantity of real GDP ...
NBER WORKING PAPER SERIES ITS IMPLICATIONS Jeffrey A. Frankel
... 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 ...
Transport implications of future options for the New Zealand economy
... pressures associated with each Future, and of cases where transport improvements would facilitate development. Detailed transport modelling has not been part of this project, but we have drawn on existing transport data and projections to inform the assessments in this report. Amongst these sources ...
... pressures associated with each Future, and of cases where transport improvements would facilitate development. Detailed transport modelling has not been part of this project, but we have drawn on existing transport data and projections to inform the assessments in this report. Amongst these sources ...
Country Report - WordPress.com
... The capital resources in Qatar also show that Qatar is a developing country, very close to being a MEDC. Recently, Qatar has experienced great increase in Index of Industrial Production. Capital resources ...
... The capital resources in Qatar also show that Qatar is a developing country, very close to being a MEDC. Recently, Qatar has experienced great increase in Index of Industrial Production. Capital resources ...
NBER WORKING PAPER SERIES CALLING RECESSIONS IN REAL TIME James D. Hamilton
... real time, out-of-sample basis is a bigger challenge than many academics might presume due to factors such as data revisions and changes in economic relationships over time. The paper stresses the value of both simulated real-time analysis-- looking at what the inference of a proposed model would ha ...
... real time, out-of-sample basis is a bigger challenge than many academics might presume due to factors such as data revisions and changes in economic relationships over time. The paper stresses the value of both simulated real-time analysis-- looking at what the inference of a proposed model would ha ...
convergence of real gdp per capita in the eu15
... sectors. Still, there is room for specialisation in the lines of the incumbent EU countries’ and accession countries’ competitive advantage.3 The liberalisation of trade should increase growth through cheaper inputs, an increase in competition that leads to higher productivity and lower prices, and ...
... sectors. Still, there is room for specialisation in the lines of the incumbent EU countries’ and accession countries’ competitive advantage.3 The liberalisation of trade should increase growth through cheaper inputs, an increase in competition that leads to higher productivity and lower prices, and ...
paper - Institute for New Economic Thinking
... which we draw, starts from observation and evidence. The method makes use of data sources and computer methodologies that have only become available in the last few years. It is derived from the theory, which focuses on how agents recruit their emotions when working out what to expect from their dec ...
... which we draw, starts from observation and evidence. The method makes use of data sources and computer methodologies that have only become available in the last few years. It is derived from the theory, which focuses on how agents recruit their emotions when working out what to expect from their dec ...
Structural Adjustment during Canada’s Wheat Boom: 1900-1913* Abstract Emma Stephens
... increase if a booming sector is applying some pressure to domestic resources and is changing incomes in an economy. Figure 3 shows the overall ratio of non-traded to traded prices for Canada from 18701913. Between 1895 and 1905 it appears that the ratio of prices sustained an upward movement, with a ...
... increase if a booming sector is applying some pressure to domestic resources and is changing incomes in an economy. Figure 3 shows the overall ratio of non-traded to traded prices for Canada from 18701913. Between 1895 and 1905 it appears that the ratio of prices sustained an upward movement, with a ...
Christina D. Romer NATIONAL
... in real rates, if the Federal Reserve had kept the money growth rate fixed in the face of these movements. Thus even if we adopted measures of monetary policy that did not attribute these parts of changes in interest rates to policy, we would still find that monetary policy was the source of the bul ...
... in real rates, if the Federal Reserve had kept the money growth rate fixed in the face of these movements. Thus even if we adopted measures of monetary policy that did not attribute these parts of changes in interest rates to policy, we would still find that monetary policy was the source of the bul ...
Andrs Solimano
... Prepared for the NBER Macroeconomics Conference, March 12, 1993. The research leading to this paper was supported by M.I.T. 's Center for Energy and Environmental Policy Research, by the National Science Foundation through Grant No. SES9O-22823 to R. Pindyck, and by the World Bank. Our thanks to Rai ...
... Prepared for the NBER Macroeconomics Conference, March 12, 1993. The research leading to this paper was supported by M.I.T. 's Center for Energy and Environmental Policy Research, by the National Science Foundation through Grant No. SES9O-22823 to R. Pindyck, and by the World Bank. Our thanks to Rai ...
QEH Working Paper Number 56 Time
... effects of flows using exclusively time-series data. Economists are divided regarding the effects of open capital accounts. One view suggests that the evidence on asset trade will eventually reflect benevolent data on goods trade (Fischer, 1999), and a few recent studies report positive effects of c ...
... effects of flows using exclusively time-series data. Economists are divided regarding the effects of open capital accounts. One view suggests that the evidence on asset trade will eventually reflect benevolent data on goods trade (Fischer, 1999), and a few recent studies report positive effects of c ...
Increasing mortality during the expansions of the US economy, 1900
... were chosen as economic indicators. Two other commonly used indicators of the business cycle—the index of manufacturing production, and the average of weekly hours in manufacturing16,17—were also investigated. The foundation of the statistical methods used is the method of concomitant variation,18 a ...
... were chosen as economic indicators. Two other commonly used indicators of the business cycle—the index of manufacturing production, and the average of weekly hours in manufacturing16,17—were also investigated. The foundation of the statistical methods used is the method of concomitant variation,18 a ...
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... for investments and financial and labour capital with other cities, nationally and internationally, while ensuring a balance between economic growth and sustainable development. In a recent report, the Organisation for Economic Co-operation and Development (OECD) highlighted the central importance o ...
... for investments and financial and labour capital with other cities, nationally and internationally, while ensuring a balance between economic growth and sustainable development. In a recent report, the Organisation for Economic Co-operation and Development (OECD) highlighted the central importance o ...
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.