Macroeconomics of the Government Budget
... Printing money is one way to finance a deficit. So long as the demand for base money is growing, as in a growing economy, governments can print money without raising inflation. If elasticity of money demand is unity, base money could be increased at the same rate as GDP growth. Increasing base money ...
... Printing money is one way to finance a deficit. So long as the demand for base money is growing, as in a growing economy, governments can print money without raising inflation. If elasticity of money demand is unity, base money could be increased at the same rate as GDP growth. Increasing base money ...
Summer Economic Statement
... participation – will enhance the capacity of the economy to expand which, in turn, will provide us with the necessary resources to fund crucial public services, promote greater levels of inclusivity and reduce inequality. An additional challenge relates to expectations. While the Irish public can re ...
... participation – will enhance the capacity of the economy to expand which, in turn, will provide us with the necessary resources to fund crucial public services, promote greater levels of inclusivity and reduce inequality. An additional challenge relates to expectations. While the Irish public can re ...
Private Investment and Economic growth
... 1990; Serven and Solimano, 1992), although some studies have shown a possibly larger contribution of public capital to economic growth (Ram, 1996). ...
... 1990; Serven and Solimano, 1992), although some studies have shown a possibly larger contribution of public capital to economic growth (Ram, 1996). ...
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... of the United States (Jorgenson, Gollop, and Fraumeni). However, significant differences exist in its contribution to the growth of various sectors of the economy. Capital contributed less than 3%to the growth in agricultural output, while it accounted for about one-third and one-fourth of the growt ...
... of the United States (Jorgenson, Gollop, and Fraumeni). However, significant differences exist in its contribution to the growth of various sectors of the economy. Capital contributed less than 3%to the growth in agricultural output, while it accounted for about one-third and one-fourth of the growt ...
Entrepreneurship as an Intervention Strategy to Poverty Alleviation
... discovery that will become the engine that drives economic development. These "new combinations" constitute better ways to meet existing demand or create new products, often making current technologies and products obsolete (in a "process of creative destruction"). The firm of the innovative entrep ...
... discovery that will become the engine that drives economic development. These "new combinations" constitute better ways to meet existing demand or create new products, often making current technologies and products obsolete (in a "process of creative destruction"). The firm of the innovative entrep ...
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... (in Europe, the Harmonised Consumer Price Index). By contrast, of estimating the cyclical effects core inflation excludes the volatile energy and food prices. The Tayon the budget. lor rate based on the core inflation rate assumes that with a given output gap the Central Bank raises interest rates o ...
... (in Europe, the Harmonised Consumer Price Index). By contrast, of estimating the cyclical effects core inflation excludes the volatile energy and food prices. The Tayon the budget. lor rate based on the core inflation rate assumes that with a given output gap the Central Bank raises interest rates o ...
Unemployment and Inflation - University of Wisconsin–La
... which measure price changes for products at all stages in the production process. • The three main categories are: – finished goods, – intermediate materials, and – crude materials. ...
... which measure price changes for products at all stages in the production process. • The three main categories are: – finished goods, – intermediate materials, and – crude materials. ...
2 Renewable Energy Technologies and Applications
... The USA were used as benchmark as they have one of the highest GDP per capita and are big enough to give confidence that it is feasible generally to achieve that GDP. So their GDP per capita can serve as an indicator for the state-of-the-art production frontier which might be reachable for all sta ...
... The USA were used as benchmark as they have one of the highest GDP per capita and are big enough to give confidence that it is feasible generally to achieve that GDP. So their GDP per capita can serve as an indicator for the state-of-the-art production frontier which might be reachable for all sta ...
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... d. real interest rates could rise relative to foreign interest rates. ANSWER: d 35. If the Fed establishes goals for inflation and growth that are very different from other countries, a. flexible exchange rates will return to fixed rates. b. there will be substantial fluctuations in exchange rates. ...
... d. real interest rates could rise relative to foreign interest rates. ANSWER: d 35. If the Fed establishes goals for inflation and growth that are very different from other countries, a. flexible exchange rates will return to fixed rates. b. there will be substantial fluctuations in exchange rates. ...
Ch2
... • Introduction of new goods: The introduction of new goods makes consumers better off and, in effect, increases the real value of the dollar. But it does not reduce the CPI, because the CPI uses fixed weights. • Unmeasured changes in quality: Quality improvements increase the value of the dollar, bu ...
... • Introduction of new goods: The introduction of new goods makes consumers better off and, in effect, increases the real value of the dollar. But it does not reduce the CPI, because the CPI uses fixed weights. • Unmeasured changes in quality: Quality improvements increase the value of the dollar, bu ...
International comparisons of productivity: the current and constant
... allowing a precise quantitative-based analysis to be made as to how much the productivity gap has narrowed (or widened), does allow a qualitative assessment of the direction of change in the productivity gap. However, this cannot be used for comparing real rates of productivity growth. Figure 1 pres ...
... allowing a precise quantitative-based analysis to be made as to how much the productivity gap has narrowed (or widened), does allow a qualitative assessment of the direction of change in the productivity gap. However, this cannot be used for comparing real rates of productivity growth. Figure 1 pres ...
Hospitality Directions US Hospitality and Leisure At a glance January 2012
... awaiting a fix in Europe The economic outlook for 2012 remains anchored by weak underlying momentum and the overhang of risks related to Europe. Headwinds persist and this year is expected to be characterized by sluggish, below-trend growth. The base assumption is for the US economy to avoid a doubl ...
... awaiting a fix in Europe The economic outlook for 2012 remains anchored by weak underlying momentum and the overhang of risks related to Europe. Headwinds persist and this year is expected to be characterized by sluggish, below-trend growth. The base assumption is for the US economy to avoid a doubl ...
Growth, inequality, and simulated poverty paths for Tanzania, 1992
... an annual growth rate of 4.4 percent, for a cumulative increase of 84 percent. Given such a high rate of population growth, it is possible that by the time of the second HBS survey, the true geographic distribution of the population differed substantially from that in the census-based sampling frame ...
... an annual growth rate of 4.4 percent, for a cumulative increase of 84 percent. Given such a high rate of population growth, it is possible that by the time of the second HBS survey, the true geographic distribution of the population differed substantially from that in the census-based sampling frame ...
The Decline in the Natural Rate of Interest
... Since the onset of the global financial crisis, there has been a flurry of research and debate about what constitutes the “new normal” for the U.S. economy. Much of this analysis has focused on the supply side of the economy, such as labor force participation, unemployment, and productivity. With t ...
... Since the onset of the global financial crisis, there has been a flurry of research and debate about what constitutes the “new normal” for the U.S. economy. Much of this analysis has focused on the supply side of the economy, such as labor force participation, unemployment, and productivity. With t ...
Asymmetric Granger Causality between Military Expenditures and
... supply effects operate through the aggregate production function where the availability of factors of production such as labor, physical and human capitals, natural resources, and technology determines the potential outputs and creates externalities (such as commercial spin-off and less productive w ...
... supply effects operate through the aggregate production function where the availability of factors of production such as labor, physical and human capitals, natural resources, and technology determines the potential outputs and creates externalities (such as commercial spin-off and less productive w ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Health and Welfare during Industrialization
... of unskilled labor. Part of the improvement in economic welfare during development is due to the shift in labor force composition toward higher skilled and higher paid occupations. By holding constant the labor force composition, wage indexes will trace a more pessimistic path than would indexes of ...
... of unskilled labor. Part of the improvement in economic welfare during development is due to the shift in labor force composition toward higher skilled and higher paid occupations. By holding constant the labor force composition, wage indexes will trace a more pessimistic path than would indexes of ...
Presidents and the U.S. Economy: An Econometric Exploration
... nine complete Republican terms (Eisenhower-1, Eisenhower-2, Nixon, Nixon-Ford, Reagan-1, Reagan-2 , Bush I, Bush II-1, and Bush II-2), where the suffixes denote terms for two-term presidents. Sometimes different samples are used for specific purposes--as will be noted. During the 64 years that make ...
... nine complete Republican terms (Eisenhower-1, Eisenhower-2, Nixon, Nixon-Ford, Reagan-1, Reagan-2 , Bush I, Bush II-1, and Bush II-2), where the suffixes denote terms for two-term presidents. Sometimes different samples are used for specific purposes--as will be noted. During the 64 years that make ...
NBER WORKING PAPER SERIES SOME SIMPLE ANALYTICS OF SCHOOL QUALITY
... because they are most directly affected by public policies. For this reason, we frequently emphasize the role of schools. The human capital perspective immediately makes it evident that the real issues are ones of long-run outcomes. Future incomes of individuals are related to their past investment ...
... because they are most directly affected by public policies. For this reason, we frequently emphasize the role of schools. The human capital perspective immediately makes it evident that the real issues are ones of long-run outcomes. Future incomes of individuals are related to their past investment ...
0455 economics - Cambridge International Examinations
... confident about the future and so may spend more (1) • may borrow more as banks may be more willing to lend to them (1) as they will be relatively confident about being repaid (1), they may be likely to borrow to e.g. buy a house, go on an expensive foreign holiday (1) Up to 4 marks for why they mig ...
... confident about the future and so may spend more (1) • may borrow more as banks may be more willing to lend to them (1) as they will be relatively confident about being repaid (1), they may be likely to borrow to e.g. buy a house, go on an expensive foreign holiday (1) Up to 4 marks for why they mig ...
Job Changes & Hour Changes: Understanding the Path of Labor
... “. . . the absence of data on the distribution of wealth for a sufficient number of countries forces researchers to use proxies in empirical studies. The most common approach is to use data on income inequality as a proxy for wealth inequality.” Aghion, Caroli, and GarciaPenalosa (1999) Bénabou (199 ...
... “. . . the absence of data on the distribution of wealth for a sufficient number of countries forces researchers to use proxies in empirical studies. The most common approach is to use data on income inequality as a proxy for wealth inequality.” Aghion, Caroli, and GarciaPenalosa (1999) Bénabou (199 ...
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.