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... more generous UI, because the unemployed have higher disposable income. Furthermore, we also provide evidence suggesting that higher UI increases the average wages of the employed individuals, for instance, due to an increase in aggregate demand and possibly by boosting their bargaining power. Final ...
... more generous UI, because the unemployed have higher disposable income. Furthermore, we also provide evidence suggesting that higher UI increases the average wages of the employed individuals, for instance, due to an increase in aggregate demand and possibly by boosting their bargaining power. Final ...
Good Booms, Bad Booms
... triggered by any contemporaneous fundamental shock. Interestingly, in our model it is the trend of productivity and not its cyclical component which determines the cyclical properties of the economy. This is in contrast with most of the standard literature on real business cycles. We also show that, ...
... triggered by any contemporaneous fundamental shock. Interestingly, in our model it is the trend of productivity and not its cyclical component which determines the cyclical properties of the economy. This is in contrast with most of the standard literature on real business cycles. We also show that, ...
Does Economic Freedom Determine Economic Growth? A
... Nations (1776), economists have been trying to answer the question: Why are some countries more prosperous than others? Since 1956, the Solow growth model has been dominating the theory of economic growth. It looks at labor productivity, capital accumulation, population growth, and technological pro ...
... Nations (1776), economists have been trying to answer the question: Why are some countries more prosperous than others? Since 1956, the Solow growth model has been dominating the theory of economic growth. It looks at labor productivity, capital accumulation, population growth, and technological pro ...
Uncertainty, Capital Flows, and Maturity Mismatch
... flows than for equity. This second empirical fact leads me to concentrate on the distinctive properties of portfolio debt flows. Unlike equity issuance, debt financing can generate maturity mismatch on a firm’s balance sheet if the firm’s assets have a longer maturity. While maturity mismatch is a ...
... flows than for equity. This second empirical fact leads me to concentrate on the distinctive properties of portfolio debt flows. Unlike equity issuance, debt financing can generate maturity mismatch on a firm’s balance sheet if the firm’s assets have a longer maturity. While maturity mismatch is a ...
Firm Dynamics, Persistent Effects of Entry Conditions, and Business
... In the second part of the paper, I propose an analytically tractable framework that formally illustrates and quantifies the role of selection at entry and demand-side channels in explaining the entry and post-entry dynamics of cohorts that start in different stages of the business cycle. I develop a ...
... In the second part of the paper, I propose an analytically tractable framework that formally illustrates and quantifies the role of selection at entry and demand-side channels in explaining the entry and post-entry dynamics of cohorts that start in different stages of the business cycle. I develop a ...
A New Look at Uncertainty Shocks: Imperfect Information and Misallocation Tatsuro Senga
... I also contribute to the empirical literature on uncertainty. The literature has been developing several proxies, ranging from the volatility of GDP or stock prices to disagreement and forecast errors in survey data, as uncertainty is not easy to elicit. For example, Leahy and Whited (1996) construc ...
... I also contribute to the empirical literature on uncertainty. The literature has been developing several proxies, ranging from the volatility of GDP or stock prices to disagreement and forecast errors in survey data, as uncertainty is not easy to elicit. For example, Leahy and Whited (1996) construc ...
Short-Term Forecasts of Latvia`s Real Gross Domestic Product
... Statistical offices and other organisations provide data on industrial production, retail sales, international trade in goods, business confidence, M3, etc. Although these indicators capture only partial information on domestic activity, they have a significant advantage over GDP statistics in terms ...
... Statistical offices and other organisations provide data on industrial production, retail sales, international trade in goods, business confidence, M3, etc. Although these indicators capture only partial information on domestic activity, they have a significant advantage over GDP statistics in terms ...
issues paper on corruption and economic growth
... ensuring sound accounting, internal control, and auditing systems in the public sector are crucial for transparent and accountable institutions that enable sustainable and balanced growth. In terms of public sector governance indicators, it confirms the importance of the “rule of law”, free from po ...
... ensuring sound accounting, internal control, and auditing systems in the public sector are crucial for transparent and accountable institutions that enable sustainable and balanced growth. In terms of public sector governance indicators, it confirms the importance of the “rule of law”, free from po ...
macroeconomics of microfinance: how do the channels - Cerge-Ei
... poor. Conversely, higher income inequality is associated with fairly high default on microfinance loans and higher interest rates (Vanroose & D’Espallier 2009; Ahlin et al., 2010). In reverse, the macroeconomic environment might shape the development path of microfinance institutions. Ahlin et al. ( ...
... poor. Conversely, higher income inequality is associated with fairly high default on microfinance loans and higher interest rates (Vanroose & D’Espallier 2009; Ahlin et al., 2010). In reverse, the macroeconomic environment might shape the development path of microfinance institutions. Ahlin et al. ( ...
European Economic Forecast - Winter 2016 | European Commission
... support from these positive factors that are now likely to be somewhat stronger and longer lasting than previously expected. In particular, driven mainly by abundant supply, the oil price has slipped again and is now assumed to remain markedly lower and to rebound later than in the autumn forecast. ...
... support from these positive factors that are now likely to be somewhat stronger and longer lasting than previously expected. In particular, driven mainly by abundant supply, the oil price has slipped again and is now assumed to remain markedly lower and to rebound later than in the autumn forecast. ...
... • The economy is still vulnerable to external shocks, which can erode the significant gains it has achieved. This external vulnerability can be reduced by increasing both domestic and foreign savings. Structural reforms that improve the business environment would incentivize more FDI to flow to Ken ...
The wider economic impacts of transport investments
... The role of public authorities in this context is to ensure sufficient operating environment for the private firms to engage in profitable business. Transport infrastructure is an integral part of the economic process. The local and national authorities and governments have the power to decide, how ...
... The role of public authorities in this context is to ensure sufficient operating environment for the private firms to engage in profitable business. Transport infrastructure is an integral part of the economic process. The local and national authorities and governments have the power to decide, how ...
Index of National Fundraising Performance
... index data. This analysis compares the twelve months of revenue ending in one quarter to the twelve months of revenue ending in a previous quarter. This smoothes out seasonal differences and allows us to see continuous movement from one quarter to the next, instead of simply comparing one full or pa ...
... index data. This analysis compares the twelve months of revenue ending in one quarter to the twelve months of revenue ending in a previous quarter. This smoothes out seasonal differences and allows us to see continuous movement from one quarter to the next, instead of simply comparing one full or pa ...
Economic Diversification in LICs: Stylized Facts and Macroeconomic
... is important not only to examine the process as a whole, but also to consider separately LICs, middle-income countries (MICs), and advanced economies. In the early stages of development, diversification is also intimately related to structural transformation. Both theory and evidence indicate that e ...
... is important not only to examine the process as a whole, but also to consider separately LICs, middle-income countries (MICs), and advanced economies. In the early stages of development, diversification is also intimately related to structural transformation. Both theory and evidence indicate that e ...
weak investment in uncertain times
... Goals, which have been estimated at up to 3 percent of global GDP per year. More effective use of counter-cyclical fiscal and monetary policies can also promote private investment indirectly by strengthening output growth, especially in commodity-exporting EMDEs. These policies may be less effective ...
... Goals, which have been estimated at up to 3 percent of global GDP per year. More effective use of counter-cyclical fiscal and monetary policies can also promote private investment indirectly by strengthening output growth, especially in commodity-exporting EMDEs. These policies may be less effective ...
Early Evidence Suggests Gigabit Broadband
... average speed was 50 percent of the first-ranked country (South Korea) and average peak speed was 65 percent of the first-ranked country (Hong Kong).6 Over the past several years, new services using fiber-to-the-home (FTTH) technology that offers speeds up to 1,000 Mbps (gigabit) have been deployed ...
... average speed was 50 percent of the first-ranked country (South Korea) and average peak speed was 65 percent of the first-ranked country (Hong Kong).6 Over the past several years, new services using fiber-to-the-home (FTTH) technology that offers speeds up to 1,000 Mbps (gigabit) have been deployed ...
Accepted Manuscript
... and a large multi-country data set for 1970-2004 to estimate a series of random-effect probit equations. I find that the marginal effect of higher capital mobility on the probability of a capital flow contraction is positive and statistically significant, but very small. Having a flexible exchange r ...
... and a large multi-country data set for 1970-2004 to estimate a series of random-effect probit equations. I find that the marginal effect of higher capital mobility on the probability of a capital flow contraction is positive and statistically significant, but very small. Having a flexible exchange r ...
Global Economic Prospects June 2016
... These began to be made public in the late 1970s. In 1991, the outlook section of the World Development Report was converted into a stand-alone report. In May 1991, the first Global Economic Prospects report—called “Global Economic Prospects and the Developing Countries”—was launched as a formal publ ...
... These began to be made public in the late 1970s. In 1991, the outlook section of the World Development Report was converted into a stand-alone report. In May 1991, the first Global Economic Prospects report—called “Global Economic Prospects and the Developing Countries”—was launched as a formal publ ...
Nigeria`s renewal: Delivering inclusive growth in Africa`s
... and access to vital services that provides a decent standard of living.2 The Empowerment Line, we believe, provides a more realistic picture of well-being and development progress than common poverty measures, which tend to be based on pure income metrics, usually $1.25 per day in purchasing power p ...
... and access to vital services that provides a decent standard of living.2 The Empowerment Line, we believe, provides a more realistic picture of well-being and development progress than common poverty measures, which tend to be based on pure income metrics, usually $1.25 per day in purchasing power p ...
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.