The Impact of the Global Financial Crisis on the Least Developed
... to 3.3 % for LDCs and 1 % for low and lower-middle income countries in 2009. Finally, even at the peak of the crisis, LDCs showed a higher resilience than expected and their average growth rate remained rather high by historical standard. However the dispersion of growth rates among low and lower-mi ...
... to 3.3 % for LDCs and 1 % for low and lower-middle income countries in 2009. Finally, even at the peak of the crisis, LDCs showed a higher resilience than expected and their average growth rate remained rather high by historical standard. However the dispersion of growth rates among low and lower-mi ...
Gross National Happiness as an Answer to the Easterlin Paradox?
... subjective data have been used extensively in some fields in economics, such as contingent valuation studies, happiness data requires only a minimum of information processing and understanding of the workings of the economy (see Diamond and Hausman (1994) for a criticism of the kind of subjective da ...
... subjective data have been used extensively in some fields in economics, such as contingent valuation studies, happiness data requires only a minimum of information processing and understanding of the workings of the economy (see Diamond and Hausman (1994) for a criticism of the kind of subjective da ...
Large Changes in Fiscal Policy
... Romer (2007) also follow an event approach even though they identify events of large discretionary changes in fiscal policy in a very different way from ours. Using a variety of narrative sources, they identify changes in the U.S. federal tax legislation that are undertaken either to solve an inheri ...
... Romer (2007) also follow an event approach even though they identify events of large discretionary changes in fiscal policy in a very different way from ours. Using a variety of narrative sources, they identify changes in the U.S. federal tax legislation that are undertaken either to solve an inheri ...
Macroeconomic Performance and Volatility of Turkish Republic of
... Table 12. Summary of volatility of selected macroeconomic parameters ................. 42 Table 13. Level of real GDP volatility from 1980-2010 ............................................ 44 Table 14. Growth rate of GDP volatility from 1980-2010......................................... 45 Table 15. ...
... Table 12. Summary of volatility of selected macroeconomic parameters ................. 42 Table 13. Level of real GDP volatility from 1980-2010 ............................................ 44 Table 14. Growth rate of GDP volatility from 1980-2010......................................... 45 Table 15. ...
Long-Run Economic Growth chapter
... The key statistic used to track economic growth is real GDP per capita—real GDP divided by the population. We focus on GDP because, as we learned in Chapter 7, GDP measures the total value of an economy’s production of final goods and services as well as the income earned in that economy in a given ...
... The key statistic used to track economic growth is real GDP per capita—real GDP divided by the population. We focus on GDP because, as we learned in Chapter 7, GDP measures the total value of an economy’s production of final goods and services as well as the income earned in that economy in a given ...
Fiscal stimulus in times of high debt - ECB
... by an increase in precautionary private saving in order to pay for higher future taxes whose introduction will eventually be required as a result of the increased deficit.1 Naturally, the imposition ...
... by an increase in precautionary private saving in order to pay for higher future taxes whose introduction will eventually be required as a result of the increased deficit.1 Naturally, the imposition ...
Building the Aggregate Expenditures Model
... A) increases consumption by moving upward along a specific consumption schedule. B) decreases consumption because it shifts the consumption schedule downward. C) decreases consumption by moving downward along a specific consumption schedule. D) increases consumption because it shifts the consumption ...
... A) increases consumption by moving upward along a specific consumption schedule. B) decreases consumption because it shifts the consumption schedule downward. C) decreases consumption by moving downward along a specific consumption schedule. D) increases consumption because it shifts the consumption ...
Subjective Well-Being, Income, Economic Development and Growth
... We focus on satisfaction rather than other measures of subjective well-being, such as happiness, for two reasons. First, we would like to use as many data sets as possible to assess the relationship between subjective well-being and income, and life satisfaction and the satisfaction ladder are more ...
... We focus on satisfaction rather than other measures of subjective well-being, such as happiness, for two reasons. First, we would like to use as many data sets as possible to assess the relationship between subjective well-being and income, and life satisfaction and the satisfaction ladder are more ...
This PDF is a selection from a published volume from... Economic Research Volume Title: Europe and the Euro
... variables, we focus on gross domestic product (GDP) per capita only, disregarding other real indicators, such as labor market or consumption data. This choice is partly motivated by the lack of reliable comparative statistics, but also because unless the omitted real variables have a predictive powe ...
... variables, we focus on gross domestic product (GDP) per capita only, disregarding other real indicators, such as labor market or consumption data. This choice is partly motivated by the lack of reliable comparative statistics, but also because unless the omitted real variables have a predictive powe ...
An analysis of Okun`s law for the Spanish provinces
... coefficient has remained relatively stable for the U.S. but it has experimented variations over time in some other OECD countries, among which is Spain. ...
... coefficient has remained relatively stable for the U.S. but it has experimented variations over time in some other OECD countries, among which is Spain. ...
Questions
... 16. Aggregate demand equals consumption expenditure plus investment plus government purchases plus exports minus imports. 17. According to the wealth effect, the lower the quantity of real wealth, the larger will be the quantity of real GDP demanded. 18. The term “monetary policy” refers to the gove ...
... 16. Aggregate demand equals consumption expenditure plus investment plus government purchases plus exports minus imports. 17. According to the wealth effect, the lower the quantity of real wealth, the larger will be the quantity of real GDP demanded. 18. The term “monetary policy” refers to the gove ...
impact of inflation and economic growth on - journal
... "Gross" because the depreciation of the value of capital used in the production of goods and services has not been deducted from the total value of GDP; "Domestic" because it relates only to activities within a domestic economy regardless of ownership (alternatively: "national" if based on nationali ...
... "Gross" because the depreciation of the value of capital used in the production of goods and services has not been deducted from the total value of GDP; "Domestic" because it relates only to activities within a domestic economy regardless of ownership (alternatively: "national" if based on nationali ...
Job Changes & Hour Changes: Understanding the Path of Labor
... lack of almost any data on the distribution of wealth is a general problem, given that in most theories it is this distribution rather than that of income which is the determinant of outcomes. Ravallion (2012) emphasizes that “wealth inequality is arguably more relevant though this has been rarely u ...
... lack of almost any data on the distribution of wealth is a general problem, given that in most theories it is this distribution rather than that of income which is the determinant of outcomes. Ravallion (2012) emphasizes that “wealth inequality is arguably more relevant though this has been rarely u ...
the size and functions of government and economic
... political rather than market forces, three major factors suggest that the beneficial effects on economic growth will wane and eventually become negative. First, the higher taxes and/or additional borrowing required to finance government expenditures exert a negative effect on the economy. As governm ...
... political rather than market forces, three major factors suggest that the beneficial effects on economic growth will wane and eventually become negative. First, the higher taxes and/or additional borrowing required to finance government expenditures exert a negative effect on the economy. As governm ...
China`s Emergence in the World economy and
... estimated country-specific models and linking them with a matrix of predetermined (i.e., not estimated) cross-country linkages. Consistent with the existing GVAR literature and the main purpose of the application in this paper, we use trade shares to quantify the linkages among all the economies we ...
... estimated country-specific models and linking them with a matrix of predetermined (i.e., not estimated) cross-country linkages. Consistent with the existing GVAR literature and the main purpose of the application in this paper, we use trade shares to quantify the linkages among all the economies we ...
Patterns, Paradoxes, and Puzzles of International Capital Flows
... Ventura (2000), capital flows are caused by portfolio growth through changes in wealth, where countries invest the marginal unit of wealth as the average unit. In other words, portfolio shares are constant. The advantage of this approach is that it can be carried directly to the data since empirical ...
... Ventura (2000), capital flows are caused by portfolio growth through changes in wealth, where countries invest the marginal unit of wealth as the average unit. In other words, portfolio shares are constant. The advantage of this approach is that it can be carried directly to the data since empirical ...
Financial versus real economic variables in explaining growth and
... The main purpose of this study is to examine the relationship between the real output and the real financial-economic variables in the U.S. economy and whether the financial sector or the real economy can better explain growth and cycles. In order to investigate this, various econometric techniques ...
... The main purpose of this study is to examine the relationship between the real output and the real financial-economic variables in the U.S. economy and whether the financial sector or the real economy can better explain growth and cycles. In order to investigate this, various econometric techniques ...
NBER WORKING PAPER SERIES INEQUALITY, NONHOMOTHETIC PREFERENCES, AND TRADE: A GRAVITY APPROACH
... There is indeed some evidence that all goods do not have unit income elasticity of demand. In particular the papers by Hunter and Markusen (1988) and Hunter (1991) specifically test for nonhomotheticity of preferences by estimating linear incomeexpansion paths that have intercepts that are signific ...
... There is indeed some evidence that all goods do not have unit income elasticity of demand. In particular the papers by Hunter and Markusen (1988) and Hunter (1991) specifically test for nonhomotheticity of preferences by estimating linear incomeexpansion paths that have intercepts that are signific ...
keynesian multiplier effects
... The Keynesian Government Spending Multiplier is 1/MPS. Let’s use the information we have already been given: The MPC is 90% and the MPS is 10%. We can plug the appropriate number into the Government Spending Multiplier and come up with a useful number. Govt. Spending Multiplier = 1/MPS = 1/10% = 1/. ...
... The Keynesian Government Spending Multiplier is 1/MPS. Let’s use the information we have already been given: The MPC is 90% and the MPS is 10%. We can plug the appropriate number into the Government Spending Multiplier and come up with a useful number. Govt. Spending Multiplier = 1/MPS = 1/10% = 1/. ...
Happiness and Public Policy
... This is why there is normally such a poor relationship between subjective Wellbeing and the objective QOL indicators ...
... This is why there is normally such a poor relationship between subjective Wellbeing and the objective QOL indicators ...
Global Income Distribution and Convergence 1800-2000
... in the absence of more information, we used the average of the continent to fill in the missing initial observation. A disadvantage of this approach is that some African countries may sometime seem to have experienced very high economic growth between 1820 and 1870, while in fact it is just the cont ...
... in the absence of more information, we used the average of the continent to fill in the missing initial observation. A disadvantage of this approach is that some African countries may sometime seem to have experienced very high economic growth between 1820 and 1870, while in fact it is just the cont ...
Barro Redlick paper 0210
... The global recession and financial crisis of 2008-09 have focused attention on fiscalstimulus packages. These packages often emphasize heightened government purchases, predicated on the view (or hope) that expenditure multipliers are greater than one. The packages typically also include tax reducti ...
... The global recession and financial crisis of 2008-09 have focused attention on fiscalstimulus packages. These packages often emphasize heightened government purchases, predicated on the view (or hope) that expenditure multipliers are greater than one. The packages typically also include tax reducti ...
CBI Literature review of the impact of EU membership on the UK
... and benefits, and the estimates covered in the papers range from a cost of 13% of GDP to a gain of 31%. As we analyse in detail in the main report, these studies differ widely in terms of their counterfactuals (i.e. the conditions under which Britain would exit the EU o ...
... and benefits, and the estimates covered in the papers range from a cost of 13% of GDP to a gain of 31%. As we analyse in detail in the main report, these studies differ widely in terms of their counterfactuals (i.e. the conditions under which Britain would exit the EU o ...
Ireland`s Stability Programme April 2015 Update
... Tax receipts have been very strong in the opening quarter of this year and as a result, the fullyear tax revenue forecast has been revised upwards by €1 billion (around 0.5 per cent of GDP). With expenditure evolving broadly in line with expectations, and taking into account one-off factors, a gener ...
... Tax receipts have been very strong in the opening quarter of this year and as a result, the fullyear tax revenue forecast has been revised upwards by €1 billion (around 0.5 per cent of GDP). With expenditure evolving broadly in line with expectations, and taking into account one-off factors, a gener ...
some characteristics of sharp current account deficit reversals in
... I (68 episodes) and Reversal II (10 episodes), where the first one is significantly less restrictive. Second, we also try to reveal some characteristics of persistent current account deficits in the region. We identify and examine 10 episodes of current account deficit persistency in twelve transition c ...
... I (68 episodes) and Reversal II (10 episodes), where the first one is significantly less restrictive. Second, we also try to reveal some characteristics of persistent current account deficits in the region. We identify and examine 10 episodes of current account deficit persistency in twelve transition c ...
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'.