Real wages, inflation and labour productivity in Australia
... European data over the period 1961-1999 also imply a long run negative relationship between inflation and productivity growth in seven of the fifteen countries. Mahadevan and Asafu-Adjaye’s (2005) application of Granger causality tests to domestic inflation and mineral product price data for the Au ...
... European data over the period 1961-1999 also imply a long run negative relationship between inflation and productivity growth in seven of the fifteen countries. Mahadevan and Asafu-Adjaye’s (2005) application of Granger causality tests to domestic inflation and mineral product price data for the Au ...
International comparisons of productivity: the current and constant
... is the implicit assumption that the price structures do not change over time. The calculation uses the PPP data in the base year, which reflects the price structure of countries in that one year (2002 in this analysis). However, in practice, relative prices do change over time, meaning that any volu ...
... is the implicit assumption that the price structures do not change over time. The calculation uses the PPP data in the base year, which reflects the price structure of countries in that one year (2002 in this analysis). However, in practice, relative prices do change over time, meaning that any volu ...
Labor Productivity - ScholarWorks@UMass Amherst
... must be understood in a scenario of weakening of aggregate demand. It is in this context that EU labor productivity growth rates have been declining, especially since the 1990s. At the same time the European economies dramatically increased their ability to create jobs, which also helps to explain t ...
... must be understood in a scenario of weakening of aggregate demand. It is in this context that EU labor productivity growth rates have been declining, especially since the 1990s. At the same time the European economies dramatically increased their ability to create jobs, which also helps to explain t ...
GDP per capita and labour utilisation in Australia
... the result of increasing hours worked by increasing employment and/or individuals working more hours and that these hours are more productive. Labour productivity also reflects the impact of increased capital investment as well as the impacts of skills, technology and management practices and the fi ...
... the result of increasing hours worked by increasing employment and/or individuals working more hours and that these hours are more productive. Labour productivity also reflects the impact of increased capital investment as well as the impacts of skills, technology and management practices and the fi ...
GDP per capita and labour utilisation in Australia
... the result of increasing hours worked by increasing employment and/or individuals working more hours and that these hours are more productive. Labour productivity also reflects the impact of increased capital investment as well as the impacts of skills, technology and management practices and the fi ...
... the result of increasing hours worked by increasing employment and/or individuals working more hours and that these hours are more productive. Labour productivity also reflects the impact of increased capital investment as well as the impacts of skills, technology and management practices and the fi ...
labor productivity determinants
... It is undeniable that the country has an implicit strategy for the promotion of productivity gains, particularly for posts important to the middle class. However, the fact that such a strategy is not found in a duly explicited form brings with it underuse, difficulties for the articulation and integ ...
... It is undeniable that the country has an implicit strategy for the promotion of productivity gains, particularly for posts important to the middle class. However, the fact that such a strategy is not found in a duly explicited form brings with it underuse, difficulties for the articulation and integ ...
Slide 1
... The amount of fish he catches everyday is the total product, total income and total expenditure of the Robinson-crusoe economy. ...
... The amount of fish he catches everyday is the total product, total income and total expenditure of the Robinson-crusoe economy. ...
GLOBAL GROWTH: CAN PRODUCTIVITY SAVE THE DAY IN AN
... productivity-growth rates. Globally, the standard of living would rise 2.3 times in the next 50 years from 2.8 times over the previous 50. To sustain past per capita income growth, historical productivity growth would need to accelerate by 22 percent. Five sector case studies—agriculture, food pr ...
... productivity-growth rates. Globally, the standard of living would rise 2.3 times in the next 50 years from 2.8 times over the previous 50. To sustain past per capita income growth, historical productivity growth would need to accelerate by 22 percent. Five sector case studies—agriculture, food pr ...
Testing the Bhaduri-Marglin model with OECD panel data
... human capital) – the Kaleckians turn the tables on growth. They claim that if in every short period output is determined by effective demand – which is a fixture of both Kaleckian and Keynesian economics – then there is no reason to believe that this should be different in the long run. 1 The factor ...
... human capital) – the Kaleckians turn the tables on growth. They claim that if in every short period output is determined by effective demand – which is a fixture of both Kaleckian and Keynesian economics – then there is no reason to believe that this should be different in the long run. 1 The factor ...
Secular Stagnation on the Supply Side
... SYVERSON, 2015, p. 7). The retail productivity revolution is high on the list of the many accomplishments of IR #3 that are largely completed and will be difficult to surpass in the next several decades. Stasis in finance and banking The ICT revolution changed finance and banking, along many dimensi ...
... SYVERSON, 2015, p. 7). The retail productivity revolution is high on the list of the many accomplishments of IR #3 that are largely completed and will be difficult to surpass in the next several decades. Stasis in finance and banking The ICT revolution changed finance and banking, along many dimensi ...
Lecture 5 - The Digital Economist
... availability of any of these factors will lead to a greater potential for producing output. In addition, all factors are assumed to be essential for production to take place. The functional relationship f(.) represents a certain level of technology and know how, that presently exists, for conversion ...
... availability of any of these factors will lead to a greater potential for producing output. In addition, all factors are assumed to be essential for production to take place. The functional relationship f(.) represents a certain level of technology and know how, that presently exists, for conversion ...
Labour or Total Factor Productivity: Do We Need to Choose?
... measures are adjusted by statistical agencies for quality changes. In the case where there is no adjustment made for quality changes, measured TFP growth will pick up both the disembodied portion of technological change and the embodied portion, as in equation (6). Thus the conventional growth accou ...
... measures are adjusted by statistical agencies for quality changes. In the case where there is no adjustment made for quality changes, measured TFP growth will pick up both the disembodied portion of technological change and the embodied portion, as in equation (6). Thus the conventional growth accou ...
Decomposition of Aggregate Productivity Growth of the Malaysian Manufacturing Sector, 1983-2005
... certain industries in the manufacturing sector, there might have been little progress in technological change. Remarkably, the contribution of final output shares to change in overall TFP was large. This may imply that the final demand component determined the contribution to the change in overall T ...
... certain industries in the manufacturing sector, there might have been little progress in technological change. Remarkably, the contribution of final output shares to change in overall TFP was large. This may imply that the final demand component determined the contribution to the change in overall T ...
The Productivity Paradox of the New Digital Economy
... almost a decade now, and there is little indica- ...
... almost a decade now, and there is little indica- ...
NBER WORKING PAPER SERIES THE TYRANNY OF NUMBERS: CONFRONTING THE STATISTICAL
... a manner analogous to the continuous time Divisia analysis, these indices adjust for improvements in the "quality" of aggregate capital and labour input by, to a first order approximation, weighting the growth of each sub-input by its average marginal product. The appropriate measure of capital and ...
... a manner analogous to the continuous time Divisia analysis, these indices adjust for improvements in the "quality" of aggregate capital and labour input by, to a first order approximation, weighting the growth of each sub-input by its average marginal product. The appropriate measure of capital and ...
The Productivity Conundrum, Explanations and Preliminary Analysis
... statistics – either the GDP or labour market figures or both - must be wrong. To address these concerns, ONS is publishing alongside this article two articles focussed on: ...
... statistics – either the GDP or labour market figures or both - must be wrong. To address these concerns, ONS is publishing alongside this article two articles focussed on: ...
NBER WORKING PAPER SERIES THE COSTS OF FINANCIAL CRISES:
... i in hiring factor x, then the effective price faced by a plant of type i is given by Px / 1 − τ xij . A positive value of τ xij can be thought of as a tax that increases the cost of the factor to the plant. We let τ Fij capture any distortions to fixed costs which affect the incentive of a plant to ...
... i in hiring factor x, then the effective price faced by a plant of type i is given by Px / 1 − τ xij . A positive value of τ xij can be thought of as a tax that increases the cost of the factor to the plant. We let τ Fij capture any distortions to fixed costs which affect the incentive of a plant to ...
42022_Tertiary-Education-Skill...ductivity_0
... labour or capital inputs. As such, it can be taken to represent improvements due to other sources, such as technology change, new knowledge and skills, and improved methods and processes (The Treasury, 2008a and Statistics New Zealand, 2009a). Low growth in productivity In the period from 1991 to 20 ...
... labour or capital inputs. As such, it can be taken to represent improvements due to other sources, such as technology change, new knowledge and skills, and improved methods and processes (The Treasury, 2008a and Statistics New Zealand, 2009a). Low growth in productivity In the period from 1991 to 20 ...
Principles of Economics, Case and Fair,9e
... Much of Southeast Asia has fueled its growth through export-led manufacturing. For countries that have based their growth on resource extraction, there is another set of potential sustainability issues. Because extraction can be accomplished without a well-educated labor force, while other forms of ...
... Much of Southeast Asia has fueled its growth through export-led manufacturing. For countries that have based their growth on resource extraction, there is another set of potential sustainability issues. Because extraction can be accomplished without a well-educated labor force, while other forms of ...
What Happened to the Gains From Strong Productivity Growth?
... The first measure of income shares is based on data for the entire economy (Box 1). Total income is measured as national income for the United States.2 Labor compensation consists of total compensation for all employees, including wages, salaries, and benefits. Wages and salaries consist of all mone ...
... The first measure of income shares is based on data for the entire economy (Box 1). Total income is measured as national income for the United States.2 Labor compensation consists of total compensation for all employees, including wages, salaries, and benefits. Wages and salaries consist of all mone ...
Productivity in Mexico: Trends, Drivers, and Institutional Framework
... gaps between sectors and regions. In particular, a process of structural transformation that mobilizes resources toward high-productivity activities has unfolded slowly. To spur economic growth, the Mexican Government has placed productivity at the center of the policy agenda, not only by enacting a ...
... gaps between sectors and regions. In particular, a process of structural transformation that mobilizes resources toward high-productivity activities has unfolded slowly. To spur economic growth, the Mexican Government has placed productivity at the center of the policy agenda, not only by enacting a ...
What Can Labor Productivity Tell Us About the U.S. Economy?
... consumption is possible with gains in (a) labor income, (b) profits and capital gains of businesses, and (c) public sector revenue. As labor productivity grows, it may be possible for all of these to increase simultaneously, without gains in one coming at the cost of one of the others.4 It is eviden ...
... consumption is possible with gains in (a) labor income, (b) profits and capital gains of businesses, and (c) public sector revenue. As labor productivity grows, it may be possible for all of these to increase simultaneously, without gains in one coming at the cost of one of the others.4 It is eviden ...
Resource Productivity in Tianjin Based on
... Abstract - 1This paper regards the ecological footprint as the comprehensive indicator of natural resource to Calculation and analysis the resource productivity in Tianjin from 2000 to 2010. The results indicated that the resource productivity generally represented the trend of escalation in Tianjin ...
... Abstract - 1This paper regards the ecological footprint as the comprehensive indicator of natural resource to Calculation and analysis the resource productivity in Tianjin from 2000 to 2010. The results indicated that the resource productivity generally represented the trend of escalation in Tianjin ...
Treasury Working Paper 2013-02: Long-term
... economies for the projections: the number of countries covered total 155. The three sources are: the International Monetary Fund’s (IMF) World Economic Outlook (WEO) database; the Conference Board’s Total Economy Database (TED); and Angus Maddison’s historical statistics (1 — 2008AD). Real GDP growt ...
... economies for the projections: the number of countries covered total 155. The three sources are: the International Monetary Fund’s (IMF) World Economic Outlook (WEO) database; the Conference Board’s Total Economy Database (TED); and Angus Maddison’s historical statistics (1 — 2008AD). Real GDP growt ...
NBER WORKING PAPER SERIES THE WEITZMAN MODEL REVISITED
... Weitzman (1976) was first to provide a rigorous formulation of the link between net income/product and consumption-based economic welfare. He showed that in a closed economy with no government, no autonomous technical change and under competitive conditions, net income/product can be seen as the sta ...
... Weitzman (1976) was first to provide a rigorous formulation of the link between net income/product and consumption-based economic welfare. He showed that in a closed economy with no government, no autonomous technical change and under competitive conditions, net income/product can be seen as the sta ...
Productivity
Productivity is an average measure of the efficiency of production. It can be expressed as the ratio of output to inputs used in the production process, i.e. output per unit of input. When all outputs and inputs are included in the productivity measure it is called total productivity. Outputs and inputs are defined in the total productivity measure as their economic values. The value of outputs minus the value of inputs is a measure of the income generated in a production process. It is a measure of total efficiency of a production process and as such the objective to be maximized in production process. Productivity measures that use one or more inputs or factors, but not all factors, are called partial productivities. A common example in economics is labor productivity, usually expressed as output per hour. At the company level, typical partial productivity measures are such things as worker hours, materials or energy per unit of production.In macroeconomics the approach is different. In macroeconomics one wants to examine an entity of many production processes and the output is obtained by summing up the value-added created in the single processes. This is done in order to avoid the double accounting of intermediate inputs. Value-added is obtained by subtracting the intermediate inputs from the outputs. The most well-known and used measure of value-added is the GDP (Gross Domestic Product). It is widely used as a measure of the economic growth of nations and industries. GDP is the income available for paying capital costs, labor compensation, taxes and profits.For a single input this means the ratio of output (value-added) to input. When multiple inputs are considered, such as labor and capital, it means the unaccounted for level of output compared to the level of inputs. This measure is called in macroeconomics Total Factor Productivity TFP or Multi Factor Productivity MFP.Productivity is a crucial factor in production performance of firms and nations. Increasing national productivity can raise living standards because more real income improves people's ability to purchase goods and services, enjoy leisure, improve housing and education and contribute to social and environmental programs. Productivity growth also helps businesses to be more profitable.