Relative Prices and Sectoral Productivity
... That is, development is associated with a reallocation of real expenditures from traditional to non-traditional services. To assess the importance of disaggregating the services sector for productivity implications, we closely follow the literature and use a development accounting framework which im ...
... That is, development is associated with a reallocation of real expenditures from traditional to non-traditional services. To assess the importance of disaggregating the services sector for productivity implications, we closely follow the literature and use a development accounting framework which im ...
convergence of real gdp per capita in the eu15
... was $7,050 in 1960 but already $10,160 in 2001. This difference grew until 1986 but has stayed relatively stable since then. We later see why. If we look at the catching-up countries, Spain’s GDP per capita was $3,379 below the EU15 average in 1960 and $3,610 below it in 2001. For Portugal the figur ...
... was $7,050 in 1960 but already $10,160 in 2001. This difference grew until 1986 but has stayed relatively stable since then. We later see why. If we look at the catching-up countries, Spain’s GDP per capita was $3,379 below the EU15 average in 1960 and $3,610 below it in 2001. For Portugal the figur ...
Financial shocks and macroeconomic policies during the Argentine
... abandoned its exchange rate peg while Argentina and Uruguay opted for maintaining their stabilisation plans. A long lasting recession started in Argentina and Uruguay, that nally led to an important economic crisis and to problems with the management of public debt. In a companion paper, Mourelle ( ...
... abandoned its exchange rate peg while Argentina and Uruguay opted for maintaining their stabilisation plans. A long lasting recession started in Argentina and Uruguay, that nally led to an important economic crisis and to problems with the management of public debt. In a companion paper, Mourelle ( ...
OPTIMUM LEVEL OF INTERNATIONAL RESERVES FOR
... financial crisis may lead to economic slowdown and hence output may decline over several years. Thus, GDP foregone due to financial crisis can be a better proxy for measuring cost of default. The present study uses the difference between actual growth rate of GDP and potential GDP during the period ...
... financial crisis may lead to economic slowdown and hence output may decline over several years. Thus, GDP foregone due to financial crisis can be a better proxy for measuring cost of default. The present study uses the difference between actual growth rate of GDP and potential GDP during the period ...
Measuring Cyclical Fluctuations in Construction Investment
... Subject to large and extensive fluctuations, construction investment is one of the most volatile components of the GDP. Construction needs long development periods and a long response time for stocks to adjust to new market conditions. Substantial gaps between planning and completion phases cause co ...
... Subject to large and extensive fluctuations, construction investment is one of the most volatile components of the GDP. Construction needs long development periods and a long response time for stocks to adjust to new market conditions. Substantial gaps between planning and completion phases cause co ...
Time-Varying Incentives in the Mutual Fund Industry
... deviation from its sample mean implies a flow-performance relationship which does not display any convexity whatsoever. Conversely, a GDP growth rate which is one standard deviation above its sample mean implies a flow-performance relationship which is more than twice as convex as the average convex ...
... deviation from its sample mean implies a flow-performance relationship which does not display any convexity whatsoever. Conversely, a GDP growth rate which is one standard deviation above its sample mean implies a flow-performance relationship which is more than twice as convex as the average convex ...
Estimating the e®ects of ¯scal policy in OECD countries Roberto Perotti
... While most economists would agree that an exogenous 10 percent increase in money supply will lead to some increase in prices after a while, perfectly reasonable economists can and do disagree even on the basic qualitative e®ects of ¯scal policy. For instance, neoclassical models predict that private ...
... While most economists would agree that an exogenous 10 percent increase in money supply will lead to some increase in prices after a while, perfectly reasonable economists can and do disagree even on the basic qualitative e®ects of ¯scal policy. For instance, neoclassical models predict that private ...
The Regulation of Entry
... Regulations of start-up companies vary across regions within a country, across industries, and across rm sizes. For concreteness, we focus on a “standardized” rm, which has the following characteristics: it performs general industrial or commercial activities, it operates in the largest city1 (by ...
... Regulations of start-up companies vary across regions within a country, across industries, and across rm sizes. For concreteness, we focus on a “standardized” rm, which has the following characteristics: it performs general industrial or commercial activities, it operates in the largest city1 (by ...
current_account
... U.S. Gross National Expenditure and Its Components, 1990–2009 The figure shows consumption (C), investment (I), and government purchases (G), in billions of ...
... U.S. Gross National Expenditure and Its Components, 1990–2009 The figure shows consumption (C), investment (I), and government purchases (G), in billions of ...
An Introduction to System of National Accounts – Basic
... When economists add up final goods and services produced in the year to calculate GDP, how do they weight each good or service? The answer is that they use market value-- what people paid for a good or service--in the calculation of nominal GDP. ...
... When economists add up final goods and services produced in the year to calculate GDP, how do they weight each good or service? The answer is that they use market value-- what people paid for a good or service--in the calculation of nominal GDP. ...
Objectives for Chapter 9 Aggregate Demand and Aggregate Supply
... Notice that the aggregate demand curve looks just like the demand curve for an individual product. This is convenient. But one does not follow from the other. There are several reasons for the downward slope of the aggregate demand curve (that is, for the fact that people will buy fewer goods and se ...
... Notice that the aggregate demand curve looks just like the demand curve for an individual product. This is convenient. But one does not follow from the other. There are several reasons for the downward slope of the aggregate demand curve (that is, for the fact that people will buy fewer goods and se ...
Chapter 9 Aggregate Demand and Aggregate Supply
... Notice that the aggregate demand curve looks just like the demand curve for an individual product. This is convenient. But one does not follow from the other. There are several reasons for the downward slope of the aggregate demand curve (that is, for the fact that people will buy fewer goods and se ...
... Notice that the aggregate demand curve looks just like the demand curve for an individual product. This is convenient. But one does not follow from the other. There are several reasons for the downward slope of the aggregate demand curve (that is, for the fact that people will buy fewer goods and se ...
The Quality of China`s GDP Statistics
... looks at. There is the discrepancy between the official Beijing air quality measurements and the air quality measurements conducted by the U.S. Embassy in Beijing atop its embassy building: one day in October 2011, the Chinese official reading was “slightly polluted” while the U.S. reading was “craz ...
... looks at. There is the discrepancy between the official Beijing air quality measurements and the air quality measurements conducted by the U.S. Embassy in Beijing atop its embassy building: one day in October 2011, the Chinese official reading was “slightly polluted” while the U.S. reading was “craz ...
ppt
... The outbreak of a large emerging-market financial crisis in China (cf. Mexico, 1994-5; Malaysia etc., 1997-8; USA, 2007-9) pushes ρ up by 3%-points without altering E(π) or E(Δi)… Suppose further that the estimate of year-2016 potential output is $20T. How large a fiscal stimulus program—how large a ...
... The outbreak of a large emerging-market financial crisis in China (cf. Mexico, 1994-5; Malaysia etc., 1997-8; USA, 2007-9) pushes ρ up by 3%-points without altering E(π) or E(Δi)… Suppose further that the estimate of year-2016 potential output is $20T. How large a fiscal stimulus program—how large a ...
The Correlativity Analysis between Logistics Industry and National Economy Development
... degree of reducing course is relative with the development level of economic, science & technology and Comprehensive national strength closely. The faster is the reducing velocity of total logistics cost, higher is this country’s development level of national economy. 2. Time trend assumption on the ...
... degree of reducing course is relative with the development level of economic, science & technology and Comprehensive national strength closely. The faster is the reducing velocity of total logistics cost, higher is this country’s development level of national economy. 2. Time trend assumption on the ...
The Medium Term Fiscal Policy Statement
... With regard to deficit indicators, the fiscal policy Domestic Product at current market prices as per the of Government continues to be guided by the principle Advance Estimates of CSO (based on data up to of gradual adjustment. The performance in respect of October 2016) is projected to show a grow ...
... With regard to deficit indicators, the fiscal policy Domestic Product at current market prices as per the of Government continues to be guided by the principle Advance Estimates of CSO (based on data up to of gradual adjustment. The performance in respect of October 2016) is projected to show a grow ...
Potential output, output gaps and structural budget balances
... Measuring productive potential and the position of output in relation to potential (i.e. the output gap) are important elements in the OECD Secretariat's economic assessments, providing a number of key insights into macroeconomic performance. For the short term, measures of the size and persistence ...
... Measuring productive potential and the position of output in relation to potential (i.e. the output gap) are important elements in the OECD Secretariat's economic assessments, providing a number of key insights into macroeconomic performance. For the short term, measures of the size and persistence ...
Public Schooling, Indoctrination, and Totalitarianism
... Higher levels of government transfers might measure left out variables which increase government spending generally and be described as a “taste” for public ownership. Alternatively, the higher the level of net transfers in a country, the greater the opposition produced and the higher is the margina ...
... Higher levels of government transfers might measure left out variables which increase government spending generally and be described as a “taste” for public ownership. Alternatively, the higher the level of net transfers in a country, the greater the opposition produced and the higher is the margina ...
Download Full Article
... (2006) found that there is strong causal link between FDI and GDP for a group of 31 developing countries during 1970-2000.De Mello (1997) point out that FDI had significantly positive effect on economic growth for the countries with high income. In a study investigating 140 countries , Ghatak and Ha ...
... (2006) found that there is strong causal link between FDI and GDP for a group of 31 developing countries during 1970-2000.De Mello (1997) point out that FDI had significantly positive effect on economic growth for the countries with high income. In a study investigating 140 countries , Ghatak and Ha ...
NBER WORKING PAPER SERIES AND INTEGRATION IN ECONOMIC DEVELOPMENT
... the justice of government. -- Adam Smith, Wealth of Nations ...
... the justice of government. -- Adam Smith, Wealth of Nations ...
Drying out: Investigating the economic effects of drought in AN2013/02 June 2013
... drought has clearly had a considerable direct impact on the agricultural industry. The uncertainty, however, is how much it will feed through to other parts of the economy. For example, it is likely to impact those that provide services to the agricultural sector. It could also affect some prices, p ...
... drought has clearly had a considerable direct impact on the agricultural industry. The uncertainty, however, is how much it will feed through to other parts of the economy. For example, it is likely to impact those that provide services to the agricultural sector. It could also affect some prices, p ...
(c.) (a.)
... c. output cannot be increased unless prices and interest rates increase d. rigid prices prevent employment from fluctuating e. resources are underemployed & an increase in AD will be satisfied without any pressure on the PL 20. (45%) What could cause simultaneous increases in inflation & unemploymen ...
... c. output cannot be increased unless prices and interest rates increase d. rigid prices prevent employment from fluctuating e. resources are underemployed & an increase in AD will be satisfied without any pressure on the PL 20. (45%) What could cause simultaneous increases in inflation & unemploymen ...
A Forecast assumptions
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
Essays on Fiscal Policy in Developing Countries and Microstates Universitat Autònoma de Barcelona
... In Chapter 3, I consider the issue of procyclicality of fiscal policy in developing countries. In the literature, there exist two competing plausible explanations. One espouses the view that procyclical fiscal policy is a result of lack of financial integration with the world economy while the other ...
... In Chapter 3, I consider the issue of procyclicality of fiscal policy in developing countries. In the literature, there exist two competing plausible explanations. One espouses the view that procyclical fiscal policy is a result of lack of financial integration with the world economy while the other ...
Inflation in Developing Asia: Demand-Pull or Cost-Push?
... of demand and supply (ADB 2008b). Surging global demand and the inability of global supply to keep pace has generated relentless upward price pressures. The resulting reduction of surplus capacity, which can absorb and cushion shocks, has also led to greater price volatility by amplifying the effect ...
... of demand and supply (ADB 2008b). Surging global demand and the inability of global supply to keep pace has generated relentless upward price pressures. The resulting reduction of surplus capacity, which can absorb and cushion shocks, has also led to greater price volatility by amplifying the effect ...
Gross domestic product
Gross Domestic Product (GDP) is a measure of the size of an economy. It is defined as ""an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)"" by the OECD.GDP estimates are commonly used to measure the economic performance of a whole country or region, but can also measure the relative contribution of an industry sector. This is possible because GDP is a measure of 'value added' rather than sales; it adds each firm's value added (the value of its output minus the value of goods that are used up in producing it). For example, a firm buys steel and adds value to it by producing a car; double counting would occur if GDP added together the value of the steel and the value of the car. Because it is based on value added, GDP also increases when an enterprise reduces its use of materials or other resources ('intermediate consumption') to produce the same output.The more familiar use of GDP estimates is to calculate the growth of the economy from year to year (and recently from quarter to quarter). The pattern of GDP growth is held to indicate the success or failure of economic policy and to determine whether an economy is 'in recession'.