Reformulating the Support Ratio to Reflect Asset Income and Transfers
... successfully capture key implications of changes in population age structure. Under other circumstances the support ratio is less useful. Consider a population of workers and retirees. Assume that in aggregate, workers exactly consume their labor income, while retirees use asset income and the sale ...
... successfully capture key implications of changes in population age structure. Under other circumstances the support ratio is less useful. Consider a population of workers and retirees. Assume that in aggregate, workers exactly consume their labor income, while retirees use asset income and the sale ...
Theme 2 The UK economy: performance and
... consumption will also increase as a result of more money being available to consumers. In addition, the opportunity cost of saving will fall as consumers get a lower return on any savings held in banks. Therefore savings will fall and consumption will rise. A rise in interest rates will have the opp ...
... consumption will also increase as a result of more money being available to consumers. In addition, the opportunity cost of saving will fall as consumers get a lower return on any savings held in banks. Therefore savings will fall and consumption will rise. A rise in interest rates will have the opp ...
Botswana: A Diamond in the Rough
... • Why study Botswana? Botswana has the highest sustained real output growth of any country in the world (>10% for 40 years) from ...
... • Why study Botswana? Botswana has the highest sustained real output growth of any country in the world (>10% for 40 years) from ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... The macroeconomic adjustment process in East Asia is in general consistent with these stylized patterns. However, the degree of initial contraction and following recovery has been far greater in East Asia than what the cross-country evidence predicts. This paper tries to make an evaluation of what f ...
... The macroeconomic adjustment process in East Asia is in general consistent with these stylized patterns. However, the degree of initial contraction and following recovery has been far greater in East Asia than what the cross-country evidence predicts. This paper tries to make an evaluation of what f ...
South Africa - World Bank Group
... long-horizon opportunities in South Africa. In addition, wage levels relative to worker productivity are significantly higher than among South Africa’s peers, also discourag‑ ing new investment. • Savings rates are low, as discussed below. What explains the low savings rates? South Africa’s savings ...
... long-horizon opportunities in South Africa. In addition, wage levels relative to worker productivity are significantly higher than among South Africa’s peers, also discourag‑ ing new investment. • Savings rates are low, as discussed below. What explains the low savings rates? South Africa’s savings ...
Macroeconomics: A Growth Theory Approach
... that the payments made by households to firms in exchange for final goods can be viewed as one flow of water through a closed system of pipes and, in the absence of any leakages, this amount of water must also flow from firms to households. Households supply the labor and capital services that firms ...
... that the payments made by households to firms in exchange for final goods can be viewed as one flow of water through a closed system of pipes and, in the absence of any leakages, this amount of water must also flow from firms to households. Households supply the labor and capital services that firms ...
NBER WORKING PAPER SERIES TAXATION AND OUTPUT GROWTH: EVIDENCE FROM AFRICAN COUNTRIES
... However, a 0.5 percentage point jump in annual growth rates would have represented a 90 percent improvement over the average real per capita ...
... However, a 0.5 percentage point jump in annual growth rates would have represented a 90 percent improvement over the average real per capita ...
Business cycle fluctuations – Part I
... Oil and the (last) ‘Great recession’ Whereas historical oil price shocks were primarily caused by physical disruptions of supply, the price run-up of 2007-08 was caused by strong demand confronting stagnating world production. Hamilton: “although the causes were different, the consequences for the ...
... Oil and the (last) ‘Great recession’ Whereas historical oil price shocks were primarily caused by physical disruptions of supply, the price run-up of 2007-08 was caused by strong demand confronting stagnating world production. Hamilton: “although the causes were different, the consequences for the ...
1 Regional Development and Regional Inequality: An
... transportation and communications, represents an obstacle for the operation of the forces for the centrifugal spread of economic expansion in developing countries. Free play of market forces in those countries, thus, has an inherent tendency to create regional inequalities. In this case, deliberate ...
... transportation and communications, represents an obstacle for the operation of the forces for the centrifugal spread of economic expansion in developing countries. Free play of market forces in those countries, thus, has an inherent tendency to create regional inequalities. In this case, deliberate ...
The now-ended long boom in the US, which combined high... unemployment, low inflation and a surplus on the government’s budget,
... influence on the domestic economy is explained by leakages from U.S. imports. • Over the same period, non-manufacturing industries – particularly construction, real estate, and fast growing services – have gained in influence on the U.S. domestic economy. Till some time back, this trend would have b ...
... influence on the domestic economy is explained by leakages from U.S. imports. • Over the same period, non-manufacturing industries – particularly construction, real estate, and fast growing services – have gained in influence on the U.S. domestic economy. Till some time back, this trend would have b ...
S R G C
... lives outside the rich countries. High-income OECD economies account for three-quarters of the world’s output, but they contain just 15 percent of the world’s population. The developing world faces a very different demographic future from that in the industrialized world. As shown in Table 1, the wo ...
... lives outside the rich countries. High-income OECD economies account for three-quarters of the world’s output, but they contain just 15 percent of the world’s population. The developing world faces a very different demographic future from that in the industrialized world. As shown in Table 1, the wo ...
2003
... Capital Spending in 2003: Still Positive Reasons why – 2002 capital spending was below 1998 – Leading-edge utilization held at >85% throughout 2002 – Overall utilization improved, holding around 75% in 1H03 – Industry entered 2003 with 14% underinvestment – Empty shells/unfinished fabs allow fast ...
... Capital Spending in 2003: Still Positive Reasons why – 2002 capital spending was below 1998 – Leading-edge utilization held at >85% throughout 2002 – Overall utilization improved, holding around 75% in 1H03 – Industry entered 2003 with 14% underinvestment – Empty shells/unfinished fabs allow fast ...
Silvia Fedeli* –Francesco Forte° – Ottavio Ricchi^
... 1.3. But what about unemployment? Bertola (2011) recognises that labour market policies (like most taxes) are expensive in terms of output efficiency, but their main purpose is not the maximization of aggregate employment and output, it is rather the protection of workers from wage variability and j ...
... 1.3. But what about unemployment? Bertola (2011) recognises that labour market policies (like most taxes) are expensive in terms of output efficiency, but their main purpose is not the maximization of aggregate employment and output, it is rather the protection of workers from wage variability and j ...
Creating an Environment for Growth and Prosperity (15th ed.)
... methods is a driving force of economic growth. • Technological improvement is scientific discovery while innovation is its practical application and dissemination. • Each of these play a role in the development of improved products and better ways of doing things. • Schumpeter referred to this proce ...
... methods is a driving force of economic growth. • Technological improvement is scientific discovery while innovation is its practical application and dissemination. • Each of these play a role in the development of improved products and better ways of doing things. • Schumpeter referred to this proce ...
Graphing and Data Transformation in
... You should find that annual growth has slowed by about one percentage point. This result is fairly robust to the choice of cutoff dates. In general, there appears to have been a slowdown in growth over the post WWII period. If you were to look at each decade, you would find that there was very rapid ...
... You should find that annual growth has slowed by about one percentage point. This result is fairly robust to the choice of cutoff dates. In general, there appears to have been a slowdown in growth over the post WWII period. If you were to look at each decade, you would find that there was very rapid ...
The Relationship Between Energy Consumption and Economic
... in 1996 meant that Sri Lanka experienced a severe power crisis that adversely affected the economy in 1996. Mahadevan and Asafu-Adjaye (2007) suggested that Nigeria and Venezuela do not exhibit a long-run relationship and it is possible that the political environment, as well as the high level of co ...
... in 1996 meant that Sri Lanka experienced a severe power crisis that adversely affected the economy in 1996. Mahadevan and Asafu-Adjaye (2007) suggested that Nigeria and Venezuela do not exhibit a long-run relationship and it is possible that the political environment, as well as the high level of co ...
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.