Introduction to Macroeconomics
... Output fluctuates more than unemployment over the business cycle 1 % decline in growth rate of real GDP leads to 1/2% of workers becoming unemployed ...
... Output fluctuates more than unemployment over the business cycle 1 % decline in growth rate of real GDP leads to 1/2% of workers becoming unemployed ...
Why Are Developing Countries so Slow in Adopting New
... adaptation processes, which makes it hard to identify the causes underlying their cross‐ country variation. The technologies related to the information revolution, however, offer an interesting exception: Only two decades ago, they were practically nonexistent almost everywhere; since ...
... adaptation processes, which makes it hard to identify the causes underlying their cross‐ country variation. The technologies related to the information revolution, however, offer an interesting exception: Only two decades ago, they were practically nonexistent almost everywhere; since ...
Comparing Recent Economic Performance in Canada
... of sub-national data complicates this narrative considerably. There is substantial variation in the economic performance of the individual provinces and states within each of the two countries. This study analyzes various sub-national economic indicators including the level and growth of real GDP pe ...
... of sub-national data complicates this narrative considerably. There is substantial variation in the economic performance of the individual provinces and states within each of the two countries. This study analyzes various sub-national economic indicators including the level and growth of real GDP pe ...
Constructing Leading Economic Indicators using DFM
... • The official GDP estimates are released by the PSA about 60 days after the reference quarter for the 1st, 2nd and 3rd Quarters and 30 days after for the 4th Quarter • This delay is the reason why researchers are interested in alternative methodologies to provide insights on the “real time economic ...
... • The official GDP estimates are released by the PSA about 60 days after the reference quarter for the 1st, 2nd and 3rd Quarters and 30 days after for the 4th Quarter • This delay is the reason why researchers are interested in alternative methodologies to provide insights on the “real time economic ...
nec07 Fogel 5896746 en
... First, enumerating alternative stories consistent with a negative correlation underscores the relative plausibility of Schumpeter’s (1912) theory of economic development. This is because we link faster growth to a higher death rate of old leading firms, not just to their eclipse by new bigger firms ...
... First, enumerating alternative stories consistent with a negative correlation underscores the relative plausibility of Schumpeter’s (1912) theory of economic development. This is because we link faster growth to a higher death rate of old leading firms, not just to their eclipse by new bigger firms ...
2017 economic and market outlook: Stabilization, not
... 1 Infrastructure spending is an exception, as public investment in infrastructure would be recommended under either view. Under a secular stagnation view, infrastructure spending could provide a short-term demand-side boost no different from any other expansionary fiscal policy. Under our structura ...
... 1 Infrastructure spending is an exception, as public investment in infrastructure would be recommended under either view. Under a secular stagnation view, infrastructure spending could provide a short-term demand-side boost no different from any other expansionary fiscal policy. Under our structura ...
Macro Module 7 Macro Workings - Instructor Answer
... 7.2.a.5 Increased investment alone will guarantee economic growth. § This is a true statement, because growth occurs only with savings. § This is a true statement, because money is the only resource needed ...
... 7.2.a.5 Increased investment alone will guarantee economic growth. § This is a true statement, because growth occurs only with savings. § This is a true statement, because money is the only resource needed ...
Reforms and growth in transition [EBRD
... One innovation of this paper is that it takes account of other factors that influence growth which have been neglected in many previous studies. We model explicitly the effects of oil prices on growth, and capture the benefits brought to some oil-rich countries by the high prices of recent years. We ...
... One innovation of this paper is that it takes account of other factors that influence growth which have been neglected in many previous studies. We model explicitly the effects of oil prices on growth, and capture the benefits brought to some oil-rich countries by the high prices of recent years. We ...
Inflation
... • To understand the difference between a demand shock and a supply shock. • To understand the difference between demand inflation and supply inflation. • To construct the short-run and long-run Phillips curve as well as the expectations augmented Phillips curve. • To examine the effects of demand an ...
... • To understand the difference between a demand shock and a supply shock. • To understand the difference between demand inflation and supply inflation. • To construct the short-run and long-run Phillips curve as well as the expectations augmented Phillips curve. • To examine the effects of demand an ...
GDP-Employment Decoupling and the Productivity Puzzle in Germany
... A few years after the acute phase of the Great Recession, models are more and more able to explain the driving mechanisms of the crisis and its spread-out (Christiano et al. 2014 as an example). Some of the effects turned out to be sustainable and revitalize the awareness of parameter instability (N ...
... A few years after the acute phase of the Great Recession, models are more and more able to explain the driving mechanisms of the crisis and its spread-out (Christiano et al. 2014 as an example). Some of the effects turned out to be sustainable and revitalize the awareness of parameter instability (N ...
4. S D upply and
... Given the current outlook of receding unit labor costs owing to productivity gains in addition to low capacity utilization rates amid the weak external demand, aggregate demand conditions are not expected to pose upward pressure on inflation. Despite the weak external demand, the correction in the c ...
... Given the current outlook of receding unit labor costs owing to productivity gains in addition to low capacity utilization rates amid the weak external demand, aggregate demand conditions are not expected to pose upward pressure on inflation. Despite the weak external demand, the correction in the c ...
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... oil cost around 40 US dollars in early 2009 but that same year its price climbed to almost 80 US dollars, a level at which it hovered throughout 2010. Also other raw materials saw sharp price increases at the end of 2009 and early 2010. Whereas in many developing and emerging countries this led to i ...
... oil cost around 40 US dollars in early 2009 but that same year its price climbed to almost 80 US dollars, a level at which it hovered throughout 2010. Also other raw materials saw sharp price increases at the end of 2009 and early 2010. Whereas in many developing and emerging countries this led to i ...
economic growth in developing countries: is landlockedness destiny?
... middle income countries (henceforth referred to as landlocked developing countries, LLDCs). 1 The majority of these countries are in the “bottom billion” as defined by Collier (2007). In 2009, the average real percapita gross domestic product of LLDCs was US$974, compared to US$2,392 of non-landloc ...
... middle income countries (henceforth referred to as landlocked developing countries, LLDCs). 1 The majority of these countries are in the “bottom billion” as defined by Collier (2007). In 2009, the average real percapita gross domestic product of LLDCs was US$974, compared to US$2,392 of non-landloc ...
I Economic outlook, key assumptions, and main uncertainties
... of the outlook for stronger export growth than previously assumed, but also because the new National Budget provides for more fiscal easing than had been anticipated. Robust export growth also affects the outlook for 2018 GDP growth, which is now projected at 3.5% instead of the 3.1% in the February ...
... of the outlook for stronger export growth than previously assumed, but also because the new National Budget provides for more fiscal easing than had been anticipated. Robust export growth also affects the outlook for 2018 GDP growth, which is now projected at 3.5% instead of the 3.1% in the February ...
Gross Domestic Product
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
Growth domestic product
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
Real GDP and the Price Level
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
... currency units as the real GDP of the other country, so an exchange rate must be used. ...
Slide 1
... measure of Income excludes spending on such basics as food, shelter, clothing, child care, utilities, out of pocket medical care expenses, transportation and interest payments on consumer debt. Source: BEA NIPA data, deflated using PCE less food and energy price index. ** The slightly higher average ...
... measure of Income excludes spending on such basics as food, shelter, clothing, child care, utilities, out of pocket medical care expenses, transportation and interest payments on consumer debt. Source: BEA NIPA data, deflated using PCE less food and energy price index. ** The slightly higher average ...
MEASURING GDP AND ECONOMIC GROWTH
... currency units as the real GDP of the other country, so an exchange rate must be used. The same prices should be used to value the goods and services in the countries being compared, but often are not. ...
... currency units as the real GDP of the other country, so an exchange rate must be used. The same prices should be used to value the goods and services in the countries being compared, but often are not. ...
Personal Saving Behavior and Real Economic Activity
... the accumulated debt and then build wealth that could be consumed during retirement.14 While this simple example abstracts from uncertainty and other complexities of the real world, it serves to present the intuition of the basic economic theory of consumption.15 A few key points should be noted. (1 ...
... the accumulated debt and then build wealth that could be consumed during retirement.14 While this simple example abstracts from uncertainty and other complexities of the real world, it serves to present the intuition of the basic economic theory of consumption.15 A few key points should be noted. (1 ...
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.