macronotes - Houston H. Stokes Page
... Theory sets up simplified models which can determine the direction or movement of focus variables using (graphical models) or the numerical values of focus variables (numerical models). Econometric models can be estimated using econometrics. In most cases the only statistics needed is mean, variance ...
... Theory sets up simplified models which can determine the direction or movement of focus variables using (graphical models) or the numerical values of focus variables (numerical models). Econometric models can be estimated using econometrics. In most cases the only statistics needed is mean, variance ...
174 ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2013 ESCAP PHOTO
... clearly defined length of time so that it is known from the outset what income participants can rely on and what would be the maximum public investment per participant. In India, for example, the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) stipulates that 100 days of employment ...
... clearly defined length of time so that it is known from the outset what income participants can rely on and what would be the maximum public investment per participant. In India, for example, the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) stipulates that 100 days of employment ...
Economic growth and unemployment rate. Case of Albania
... There have been many theoretical debates about the effect of the unemployment rate in the economic growth. Arthur Okun a professor and economist proposed a relationship between them in 1962 and called it Okun’s law that states 1 percent decrease in unemployment the GDP will increase by 3 percent. Bu ...
... There have been many theoretical debates about the effect of the unemployment rate in the economic growth. Arthur Okun a professor and economist proposed a relationship between them in 1962 and called it Okun’s law that states 1 percent decrease in unemployment the GDP will increase by 3 percent. Bu ...
NBER WORKING PAPER SERIES EURO-PRODUCTIVITY AND EURO-JOB SINCE THE
... job growth, we find that tax and transfer packages in high-spending welfare states have no clear cost in jobs or in productivity. Past studies showed negative effects because they failed to separate transitory from durable effects, and because some accepted theory as an empirical test. Our paper bro ...
... job growth, we find that tax and transfer packages in high-spending welfare states have no clear cost in jobs or in productivity. Past studies showed negative effects because they failed to separate transitory from durable effects, and because some accepted theory as an empirical test. Our paper bro ...
Does Neoclassical Theory Account for the Effects of Big Fiscal
... types of government policy (fiscal) variables are : government spending on consumption and investment goods, income tax rates, and the draft. We call this the fiscal state of the economy. In addition to these fiscal variables, we also include productivity shocks. Figure 1 displays all six exogenous ...
... types of government policy (fiscal) variables are : government spending on consumption and investment goods, income tax rates, and the draft. We call this the fiscal state of the economy. In addition to these fiscal variables, we also include productivity shocks. Figure 1 displays all six exogenous ...
Gross Domestic Product
... Real GDP and the Price Level Step 1: Value last year’s production and this year’s production at last year’s prices and then calculate the growth rate of this number from last year to this year. Step 2: Value last year’s production and this year’s production at this year’s prices and then calculate ...
... Real GDP and the Price Level Step 1: Value last year’s production and this year’s production at last year’s prices and then calculate the growth rate of this number from last year to this year. Step 2: Value last year’s production and this year’s production at this year’s prices and then calculate ...
KOF - ETH Zürich
... • The GDP deflator is a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100. • It tells us the rise in nominal GDP that is attributable to a rise in prices rather than a rise in the quantities produced. ...
... • The GDP deflator is a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100. • It tells us the rise in nominal GDP that is attributable to a rise in prices rather than a rise in the quantities produced. ...
Government and economic growth: Does size matter?
... the only factor and governments must also consider the distributional impact of their policies. However, understanding the economic impact of expenditure and revenue policies is important in analysing all government expenditure and in understanding the trade-offs that are involved in policies to ach ...
... the only factor and governments must also consider the distributional impact of their policies. However, understanding the economic impact of expenditure and revenue policies is important in analysing all government expenditure and in understanding the trade-offs that are involved in policies to ach ...
Qatar Economic Outlook 2012–2013
... Further out, with the start-up of the Barzan project (scheduled for 2014) and the completion of investments in enhanced and incremental recovery in older oil fields, upstream production will rally. ...
... Further out, with the start-up of the Barzan project (scheduled for 2014) and the completion of investments in enhanced and incremental recovery in older oil fields, upstream production will rally. ...
Non-Renewable Resources, Extraction Technology
... Our model replicates historical trends in the prices and production of major nonrenewable resources, as well as world real GDP for which we present data going back to 1792. Exponential aggregate output growth triggers R&D investment in extraction technology. The extraction and use of non-renewable r ...
... Our model replicates historical trends in the prices and production of major nonrenewable resources, as well as world real GDP for which we present data going back to 1792. Exponential aggregate output growth triggers R&D investment in extraction technology. The extraction and use of non-renewable r ...
ESTIMATES OF OPTIMAL INFLATION FOR WAMZ COUNTRIES
... The focus of this paper was to empirically estimate the threshold levels of inflation in the WAMZ, using the conditional least square technique. The study also identified the determinants of growth in the WAMZ. The empirical analysis uses annual data from 1970-2010 for Ghana, Nigeria and Sierra Leon ...
... The focus of this paper was to empirically estimate the threshold levels of inflation in the WAMZ, using the conditional least square technique. The study also identified the determinants of growth in the WAMZ. The empirical analysis uses annual data from 1970-2010 for Ghana, Nigeria and Sierra Leon ...
SHOCK THERAPY VERSUS GRADUALISM RECONSIDERED
... aCumulative measure of distortions as a % of GDP equal to the sum of defense expenditure (minus 3% regarded as the 'normal' level), deviations in industrial structure and trade openness from the 'normal' level, the share of heavily distorted trade (among the FSU republics) and lightly distorted trad ...
... aCumulative measure of distortions as a % of GDP equal to the sum of defense expenditure (minus 3% regarded as the 'normal' level), deviations in industrial structure and trade openness from the 'normal' level, the share of heavily distorted trade (among the FSU republics) and lightly distorted trad ...
Slide 1
... A young population – 55% below the age of twenty. Focus on Education, IT, Research, Tourism, Construction and Infrastructure Expanding markets for luxury and branded goods Stable and steady growth in infrastructure and government spending Growing economic prosperity ...
... A young population – 55% below the age of twenty. Focus on Education, IT, Research, Tourism, Construction and Infrastructure Expanding markets for luxury and branded goods Stable and steady growth in infrastructure and government spending Growing economic prosperity ...
... or family who carry remittances are rarely computed. If remittances sent through informal channels are included, total remittances could be as much as 50 per cent higher than the official record (World Bank, 2006). Over the past decade, remittance inflows in developing countries significantly increa ...
Chapter 6
... A change in any influence on buying plans other than the price level changes aggregate demand. The main influences on aggregate demand are: Expectations Fiscal and monetary policy The world economy ...
... A change in any influence on buying plans other than the price level changes aggregate demand. The main influences on aggregate demand are: Expectations Fiscal and monetary policy The world economy ...
Vol. 19, No. 2, December 2012
... comparison to the others and at the same time, the size and composition of some countries’ gross domestic product (GDP) may change. Climate change also affects the long-term growth potential of the country. Furthermore, the effects of climate change are not homogeneous within countries; it was found ...
... comparison to the others and at the same time, the size and composition of some countries’ gross domestic product (GDP) may change. Climate change also affects the long-term growth potential of the country. Furthermore, the effects of climate change are not homogeneous within countries; it was found ...
A Policymaker`s Guide to Dutch Disease
... a country’s long term economic performance. Despite these concerns, it is very unlikely that a long term, sustained and predictable increase in aid would, through the impact on the real exchange rate, do more harm than good. There are three reasons for this. First, there is not necessarily a sig ...
... a country’s long term economic performance. Despite these concerns, it is very unlikely that a long term, sustained and predictable increase in aid would, through the impact on the real exchange rate, do more harm than good. There are three reasons for this. First, there is not necessarily a sig ...
Rare Events and the Equity-Premium Puzzle
... The Mehra-Prescott (1985) article on the equity risk-premium puzzle has received a great deal of attention, as evidenced by its 597 citations through 2004. An article published three years later by Rietz (1988) purported to solve the puzzle by bringing in the potential for low-probability disasters ...
... The Mehra-Prescott (1985) article on the equity risk-premium puzzle has received a great deal of attention, as evidenced by its 597 citations through 2004. An article published three years later by Rietz (1988) purported to solve the puzzle by bringing in the potential for low-probability disasters ...
Measuring Government in the 21st Century
... Keynes (1936) with his General Theory provided a justification for a stabilization role for government in the economy through increased public spending, while documents such as the Beveridge Report9 in the United Kingdom laid out the basic framework for a larger and more comprehensive welfare state. ...
... Keynes (1936) with his General Theory provided a justification for a stabilization role for government in the economy through increased public spending, while documents such as the Beveridge Report9 in the United Kingdom laid out the basic framework for a larger and more comprehensive welfare state. ...
On the benefits of being a resource-rich southern region of
... company, when the …rst oil drilling activities were starting during the 1960s in the southern Italian region of Basilicata2 . At that time, the regional economy of Basilicata relied on traditional activities such as agriculture and low-skilled, labour-intensive manufacturing industries3 . In some se ...
... company, when the …rst oil drilling activities were starting during the 1960s in the southern Italian region of Basilicata2 . At that time, the regional economy of Basilicata relied on traditional activities such as agriculture and low-skilled, labour-intensive manufacturing industries3 . In some se ...
Inflation, Disinflation, and Deflation in China: Identifying the Shocks
... over the previous year and the negative rate of change in the CPI lasted until the beginning of 2003. Consumer goods, food and non-food items all recorded price decreases while service items recording a small increase. Productivity gains also explain the significant structural change in the Chinese ...
... over the previous year and the negative rate of change in the CPI lasted until the beginning of 2003. Consumer goods, food and non-food items all recorded price decreases while service items recording a small increase. Productivity gains also explain the significant structural change in the Chinese ...
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... and the wage rate. Climbing up a downward demand for labor schedule - i.e. raising wage - would indeed induce higher levels of unemployment, as the unmet supply of labor would grow. The third aggregate regularity we address here - i.e. the Okun curve (OC) characterizes the interplay between labor ma ...
... and the wage rate. Climbing up a downward demand for labor schedule - i.e. raising wage - would indeed induce higher levels of unemployment, as the unmet supply of labor would grow. The third aggregate regularity we address here - i.e. the Okun curve (OC) characterizes the interplay between labor ma ...
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.