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 ...
GDP per capita since 1820 - Utrecht University Repository
... GDP was defined clearly. Moreover, economic historians consider the “sustained growth” of per capita GDP as the most significant feature of the “modern” economy as it came into existence after the Industrial Revolution. It is GDP growth – driven by investment and technological change – that ultimate ...
... GDP was defined clearly. Moreover, economic historians consider the “sustained growth” of per capita GDP as the most significant feature of the “modern” economy as it came into existence after the Industrial Revolution. It is GDP growth – driven by investment and technological change – that ultimate ...
Consumer Spending in China: The Past and the Future
... than twice as much as rural households over that period, measured at constant prices. Rural households increased their real per capita consumer spending from about ¥476 ($130) in 1988 to about ¥2,630 ($710) in 2015 (measured by the price level in 1988), while urban households increased theirs from a ...
... than twice as much as rural households over that period, measured at constant prices. Rural households increased their real per capita consumer spending from about ¥476 ($130) in 1988 to about ¥2,630 ($710) in 2015 (measured by the price level in 1988), while urban households increased theirs from a ...
PDF
... conditions and donor strategic interests, which are typically thought of as explaining aid. Those omissions might cause aid to be correlated with the error terms if, in addition to determining aid, they also belong in the growth equation. Assuming that donor interests do not change (or change very l ...
... conditions and donor strategic interests, which are typically thought of as explaining aid. Those omissions might cause aid to be correlated with the error terms if, in addition to determining aid, they also belong in the growth equation. Assuming that donor interests do not change (or change very l ...
Development Economics Inequality of Growth Model
... “A possible interpretaition of the results involves the idea that creditmarket constraints would be more serious in poorer countries. In poor countries, the net effect of inequality on growth may be negative because of the severity of these credit – market problems. (…) In contrast, for rich countri ...
... “A possible interpretaition of the results involves the idea that creditmarket constraints would be more serious in poorer countries. In poor countries, the net effect of inequality on growth may be negative because of the severity of these credit – market problems. (…) In contrast, for rich countri ...
Mankiw 5/e Chapter 2: The Data of Macroeconomics
... while unemployed workers do not. So one would expect _______________________________ ____________________. ...
... while unemployed workers do not. So one would expect _______________________________ ____________________. ...
2.3 Macroeconomic Objectives
... Decreased household income: reduces households’ ability to buy the necessities and therefore reduces the standards of living of the unemployed Increased levels of psychological and physical illness: Studies show that stress, depression, undernourishment, and other physical and mental effects arise f ...
... Decreased household income: reduces households’ ability to buy the necessities and therefore reduces the standards of living of the unemployed Increased levels of psychological and physical illness: Studies show that stress, depression, undernourishment, and other physical and mental effects arise f ...
The Correlation Between Happiness and Inequality by Kiley Williams
... expensive vacations or large homes. Some may hypothesize that people across different socioeconomic classes and geographic regions look to vastly different things to find happiness. Is this true? Or do different people in different circumstances actually look to the same things for happiness? What l ...
... expensive vacations or large homes. Some may hypothesize that people across different socioeconomic classes and geographic regions look to vastly different things to find happiness. Is this true? Or do different people in different circumstances actually look to the same things for happiness? What l ...
sample_paper_3.doc
... government is looking to increase its share of oil revenue by “transforming existing contracts with foreign oil companies into service agreements” by the end of 2010. In so doing, oil companies will receive a flat fee, with all oil “considered state property.” The government’s hope is that their sha ...
... government is looking to increase its share of oil revenue by “transforming existing contracts with foreign oil companies into service agreements” by the end of 2010. In so doing, oil companies will receive a flat fee, with all oil “considered state property.” The government’s hope is that their sha ...
The GDP deflator
... services to be summed up. But a problem arises if you want to compare the values of an economic variable at two different points in time. If GDP changes over time, you can’t tell whether changes are reflected by the change in quantity or prices of goods and services. Economic variable is measured by ...
... services to be summed up. But a problem arises if you want to compare the values of an economic variable at two different points in time. If GDP changes over time, you can’t tell whether changes are reflected by the change in quantity or prices of goods and services. Economic variable is measured by ...
The Natural Resource Curse and Fiscal Decentralization
... additional empirical evidence of this phenomenon as well as various potential explanations for its occurrence. Among these explanations, the literature has emphasized political factors, corruption, underdeveloped legal and financial systems, Dutch disease mechanisms, or human-capital inhibiting inst ...
... additional empirical evidence of this phenomenon as well as various potential explanations for its occurrence. Among these explanations, the literature has emphasized political factors, corruption, underdeveloped legal and financial systems, Dutch disease mechanisms, or human-capital inhibiting inst ...
State Capacity and Long-Run Economic Performance
... We argue that two political transformations resolved long-standing state capacity problems of fiscal fragmentation and absolutism faced by national governments. The first political transformation was the implementation of uniform tax systems at the national level, or “fiscal centralization.” This tr ...
... We argue that two political transformations resolved long-standing state capacity problems of fiscal fragmentation and absolutism faced by national governments. The first political transformation was the implementation of uniform tax systems at the national level, or “fiscal centralization.” This tr ...
Economic Indicators: Where to Look
... The personal income report is a broad measure of household income and expenditures, and gauges the health of a key sector of the economy. Originating as one component of the quarterly GDP national accounts, the report is released as a separate set of monthly indicators. Revisions occur successively ...
... The personal income report is a broad measure of household income and expenditures, and gauges the health of a key sector of the economy. Originating as one component of the quarterly GDP national accounts, the report is released as a separate set of monthly indicators. Revisions occur successively ...
The Secret of China`s Success
... employment and incomes (including those of their family and friends, through control over local enterprises). The three reforms that are considered in the literature to have been the most important in this change of incentives were: a) Enterprises were now to be taxed at fixed rates, leaving all res ...
... employment and incomes (including those of their family and friends, through control over local enterprises). The three reforms that are considered in the literature to have been the most important in this change of incentives were: a) Enterprises were now to be taxed at fixed rates, leaving all res ...
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.