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... differences in the economy. At the sectoral level, except for very mature economies, agricultural wages are lower than non-agricultural wages. Also differences may exist in the rates of return on capital. The direction of the differences in the rates of return is not necessarily the same as that of ...
... differences in the economy. At the sectoral level, except for very mature economies, agricultural wages are lower than non-agricultural wages. Also differences may exist in the rates of return on capital. The direction of the differences in the rates of return is not necessarily the same as that of ...
Jean-Claude Trichet: The creation of economic and
... Finally, allow me also to briefly mention labour migration. In my view, labour migration is an important adjustment mechanism in the context of monetary union. However, evidence suggests that cross-border labour mobility is limited within the euro area. Although this can be attributed in part to di ...
... Finally, allow me also to briefly mention labour migration. In my view, labour migration is an important adjustment mechanism in the context of monetary union. However, evidence suggests that cross-border labour mobility is limited within the euro area. Although this can be attributed in part to di ...
L2_20110304
... • The accumulation of capital is subject to diminishing returns. • Because of diminishing returns, higher saving leads to a higher growth for a period of time, but growth will eventually slow down. • Also because of diminishing returns, the return to capital is especially high in poor countries. • A ...
... • The accumulation of capital is subject to diminishing returns. • Because of diminishing returns, higher saving leads to a higher growth for a period of time, but growth will eventually slow down. • Also because of diminishing returns, the return to capital is especially high in poor countries. • A ...
... slower pace of expansion owing to a less buoyant external sector was offset partially by domestic demand. According to official estimates, the central government deficit after grants will end the year at around 0.8% of GDP, half a percentage point higher than in 2014, while the balance-of-payments c ...
Why a Green Economy is a Post
... By 'economic growth' here I mean the growth of monetary, undifferentiated GDP as a permanent feature of the human economy, where economic or productive activity is solely viewed in monetary/market terms i.e. excluding non-monetary economic activities in the home and community. And I take as given he ...
... By 'economic growth' here I mean the growth of monetary, undifferentiated GDP as a permanent feature of the human economy, where economic or productive activity is solely viewed in monetary/market terms i.e. excluding non-monetary economic activities in the home and community. And I take as given he ...
You have 50 minutes to complete the 100 points worth... reasonable Economics 259
... 19.c. The real rental price of capital decreases because the average productivity of capital decreases (Y/K decreases, as Y increases proportionally less than K), so the MPK, ()Y/K decreases. 19.d. Capital's share of income is unchanged since it depends only on the parameter () from the production ...
... 19.c. The real rental price of capital decreases because the average productivity of capital decreases (Y/K decreases, as Y increases proportionally less than K), so the MPK, ()Y/K decreases. 19.d. Capital's share of income is unchanged since it depends only on the parameter () from the production ...
2012-288-IM-Guatemala-COMPLETO
... 4. General trends for the first quarter of 2012 and outlook for the year Economic activity —measured by the trend-cycle series of the monthly index of economic activity— picked up in March 2012, giving an annualized increase of 3.5% (compared with 3.9% in March 2011). In March 2012, year-on-year inf ...
... 4. General trends for the first quarter of 2012 and outlook for the year Economic activity —measured by the trend-cycle series of the monthly index of economic activity— picked up in March 2012, giving an annualized increase of 3.5% (compared with 3.9% in March 2011). In March 2012, year-on-year inf ...
Improvements of health and longevity are not simply viewed as a
... Higher life expectancy leads to higher GDP, especially in low-income countries, where a 1% rise in life expectancy increases GDP per capita by up to 5%. That is the central finding of research by Muhammad Jami Husain, presented at the Royal Economic Society’s 2010 annual conference. Often health and ...
... Higher life expectancy leads to higher GDP, especially in low-income countries, where a 1% rise in life expectancy increases GDP per capita by up to 5%. That is the central finding of research by Muhammad Jami Husain, presented at the Royal Economic Society’s 2010 annual conference. Often health and ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... Unemployment rate fluctuates over time. During the Great Depression, unemployment was extremely high, reaching 25 percent in 1933, and plunged as the United States entered WW II. From the end of the war into 2011, it averaged 5.7%, with dramatic spikes upward during recessions, such as the mid-1970s ...
... Unemployment rate fluctuates over time. During the Great Depression, unemployment was extremely high, reaching 25 percent in 1933, and plunged as the United States entered WW II. From the end of the war into 2011, it averaged 5.7%, with dramatic spikes upward during recessions, such as the mid-1970s ...
Mankiw 5/e Chapter 8: Economic Growth II
... income gaps shrink about 2%/year. In larger samples, if one controls for differences in saving, population growth, and human capital, incomes converge by about 2%/year. ...
... income gaps shrink about 2%/year. In larger samples, if one controls for differences in saving, population growth, and human capital, incomes converge by about 2%/year. ...
Mankiw 5/e Chapter 8: Economic Growth II
... income gaps shrink about 2%/year. In larger samples, if one controls for differences in saving, population growth, and human capital, incomes converge by about 2%/year. ...
... income gaps shrink about 2%/year. In larger samples, if one controls for differences in saving, population growth, and human capital, incomes converge by about 2%/year. ...
Introduction to Macroeconomics
... issues at each level of analysis (but not necessarily develop unified models as we would do at the Ph.D. level). Emphasize some empirical uses that we can put to these theories. Most applications were developed to explain economic phenomenon in USA and EU, but we will have bias when possible to ...
... issues at each level of analysis (but not necessarily develop unified models as we would do at the Ph.D. level). Emphasize some empirical uses that we can put to these theories. Most applications were developed to explain economic phenomenon in USA and EU, but we will have bias when possible to ...
Technology and Economic Growth
... What have we learned? If no technological change: Y growth depends on N growth (= with K growth) which depends on population growth rate (which is given, ...
... What have we learned? If no technological change: Y growth depends on N growth (= with K growth) which depends on population growth rate (which is given, ...
FedViews
... that considerable economic slack, known technically as an output gap, will remain at least into 2013. ...
... that considerable economic slack, known technically as an output gap, will remain at least into 2013. ...
The Israeli Economy: International Perspective
... A comparison of recent economic developments in Israel and the developed world, 2009-2012. Ministry of Finance ...
... A comparison of recent economic developments in Israel and the developed world, 2009-2012. Ministry of Finance ...
What is the economic outlook for 2015?
... best performing sectors are those related to high income families. On the business side, sectors related to infrastructure spending have renewed hopes on the government infrastructure projects ...
... best performing sectors are those related to high income families. On the business side, sectors related to infrastructure spending have renewed hopes on the government infrastructure projects ...
India and the Credit Rating Agencies
... created by the past pattern of capital inflows. If anything, such incentives actually militate against such a desirable change in strategy. Thus, one of the adverse fallouts of this process has been the obsession with the GDP growth rate, regardless of the content of that growth. GDP can grow even w ...
... created by the past pattern of capital inflows. If anything, such incentives actually militate against such a desirable change in strategy. Thus, one of the adverse fallouts of this process has been the obsession with the GDP growth rate, regardless of the content of that growth. GDP can grow even w ...
Document
... Investment is an injection into the circular flow model and is simply creating capital resources. 3. Increased investment means increased capital resources. These are used to produce other G&S. Therefore increased investment results in increased output and thus increased growth. 4. The model only sh ...
... Investment is an injection into the circular flow model and is simply creating capital resources. 3. Increased investment means increased capital resources. These are used to produce other G&S. Therefore increased investment results in increased output and thus increased growth. 4. The model only sh ...
EIU March 2013 presentationx
... Demand will remain relatively subdued in 2013, constrained by weak OECD growth, but will pick up supported by a pick up in China’s consumption Rising emerging market incomes and urbanisation will underpin mediumterm demand growth. Years of underinvestment, particularly in agriculture, will support ...
... Demand will remain relatively subdued in 2013, constrained by weak OECD growth, but will pick up supported by a pick up in China’s consumption Rising emerging market incomes and urbanisation will underpin mediumterm demand growth. Years of underinvestment, particularly in agriculture, will support ...
2016 economic review 2017 forecast
... stock, but increased construction activity helped to offset this decline. The Barbados economy grew by 1.6% (compared with just 0.9% in 2015), based on a rise in long-stay arrivals of nearly 6% attributed to additional airlift, the refurbishing and expansion of the hotel room stock, and the 50th Ann ...
... stock, but increased construction activity helped to offset this decline. The Barbados economy grew by 1.6% (compared with just 0.9% in 2015), based on a rise in long-stay arrivals of nearly 6% attributed to additional airlift, the refurbishing and expansion of the hotel room stock, and the 50th Ann ...
Immigration Growth and GDP per capita growth: A
... Just as I do not believe immigration has harmed the United States’ economy (by most measures), similarly, I do not believe migrant growth props up our economy either. I am suggesting that any statistical relationship between these two variables will be very weak, if not negligible; and this lacking ...
... Just as I do not believe immigration has harmed the United States’ economy (by most measures), similarly, I do not believe migrant growth props up our economy either. I am suggesting that any statistical relationship between these two variables will be very weak, if not negligible; and this lacking ...
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.