LECTURE 2 Measuring Economic Activity
... Who spends in the economy? - Economic Agents – households, firms, and government. Here, however, we have to take into account the expenditures made by foreigners, because we are interested in a particular country’s GDP. GDP = AE (aggregate expenditures) = C (expenditures of households on consumer go ...
... Who spends in the economy? - Economic Agents – households, firms, and government. Here, however, we have to take into account the expenditures made by foreigners, because we are interested in a particular country’s GDP. GDP = AE (aggregate expenditures) = C (expenditures of households on consumer go ...
Economists’ interest in collective decision after World War II: a history
... Lindahl, the newly emigrated Richard Musgrave (1939) considered a more integrated theory of taxes and public expenditures that would emphasize a “voluntary exchange” relationship between the individual and the state rather than the traditional “ability-to-pay” vision charact ...
... Lindahl, the newly emigrated Richard Musgrave (1939) considered a more integrated theory of taxes and public expenditures that would emphasize a “voluntary exchange” relationship between the individual and the state rather than the traditional “ability-to-pay” vision charact ...
Income distribution and the size of the financial sector
... and in the technology of communication, able to affect the preferences of the electorate and thus generate economic results through “apparently spontaneous” market mechanisms (for an interpretation along these lines, see Krugman, 2007). Yet, Piketty’s standpoint is that the main force changing the l ...
... and in the technology of communication, able to affect the preferences of the electorate and thus generate economic results through “apparently spontaneous” market mechanisms (for an interpretation along these lines, see Krugman, 2007). Yet, Piketty’s standpoint is that the main force changing the l ...
Productive Diversification and Structural Transformation in Mexico
... because it does not raise the productivity of small producers. It also does not question agrarian structure, characterized by the concentration of productive resources, or the dual character of agriculture; rather, it tends to reproduce both structural components of rural society. The dynamism of in ...
... because it does not raise the productivity of small producers. It also does not question agrarian structure, characterized by the concentration of productive resources, or the dual character of agriculture; rather, it tends to reproduce both structural components of rural society. The dynamism of in ...
Chapter 1
... markets will feel increasingly uncomfortable with such a tendency. This could trigger a sudden reversal of capital flows and a sharp fall in the exchange rate of the dollar which, on a trade-weighted basis, is close to a 16-year high against other major currencies. The other side of the coin would b ...
... markets will feel increasingly uncomfortable with such a tendency. This could trigger a sudden reversal of capital flows and a sharp fall in the exchange rate of the dollar which, on a trade-weighted basis, is close to a 16-year high against other major currencies. The other side of the coin would b ...
Topic 2: Macroeconomics
... Comments on GDP GDP does not account for income inequality. Counties with ...
... Comments on GDP GDP does not account for income inequality. Counties with ...
NBER WORKING PAPER SERIES BUSINESS CYCLE FLUCTUATIONS AND THE LIFE CYCLE:
... bars above them indicate steady state values for the corresponding perfect foresight economy with ...
... bars above them indicate steady state values for the corresponding perfect foresight economy with ...
Interactive Tool
... growth in capacity, inflationary pressures tend to emerge. If growth in spending is less than the growth in capacity, then the economy will not be producing as much as it could. As a result, unemployment may rise. When the Federal Reserve adopts a restrictive monetary policy it sells bonds in order ...
... growth in capacity, inflationary pressures tend to emerge. If growth in spending is less than the growth in capacity, then the economy will not be producing as much as it could. As a result, unemployment may rise. When the Federal Reserve adopts a restrictive monetary policy it sells bonds in order ...
23 - ITU
... 1. It is just an average number that does not reflect the inequalities in the distribution of income. 2. It is simply an indicator of purchasing power and as such does not necessarily capture a series of quality of life factors that contribute to well-being such as • The value of leisure. • The valu ...
... 1. It is just an average number that does not reflect the inequalities in the distribution of income. 2. It is simply an indicator of purchasing power and as such does not necessarily capture a series of quality of life factors that contribute to well-being such as • The value of leisure. • The valu ...
(GDP).
... 1. It is just an average number that does not reflect the inequalities in the distribution of income. 2. It is simply an indicator of purchasing power and as such does not necessarily capture a series of quality of life factors that contribute to well-being such as • The value of leisure. • The valu ...
... 1. It is just an average number that does not reflect the inequalities in the distribution of income. 2. It is simply an indicator of purchasing power and as such does not necessarily capture a series of quality of life factors that contribute to well-being such as • The value of leisure. • The valu ...
The Credit Crisis Timeline
... 99.4% stake in Royal Bank of Scotland’s (RBS) Pakistan unit for a US$87m. India’s government is planning a big shake-up of its archaic tax system in a bid to curb widespread evasion as it confronts a sharply widening fiscal deficit amid expanding social welfare programmes. The plan, announced by Pra ...
... 99.4% stake in Royal Bank of Scotland’s (RBS) Pakistan unit for a US$87m. India’s government is planning a big shake-up of its archaic tax system in a bid to curb widespread evasion as it confronts a sharply widening fiscal deficit amid expanding social welfare programmes. The plan, announced by Pra ...
What Went Wrong Robert A. Madsen
... retirement. The behavior of these older people kept the savings rate elevated long past the point where such elevation was helpful; and the country consequently suffered from a surfeit of capital which, if not absorbed by some sector of the economy, might well have pushed it into a prolonged recessi ...
... retirement. The behavior of these older people kept the savings rate elevated long past the point where such elevation was helpful; and the country consequently suffered from a surfeit of capital which, if not absorbed by some sector of the economy, might well have pushed it into a prolonged recessi ...
Chapter 10
... economists believe that prices in the economy are flexible: They move up and down in response to market forces. Keynes said that the internal structure of an economy is not always competitive enough to allow prices to fall. Anticompetitive or monopolistic elements in the economy sometimes prevent ...
... economists believe that prices in the economy are flexible: They move up and down in response to market forces. Keynes said that the internal structure of an economy is not always competitive enough to allow prices to fall. Anticompetitive or monopolistic elements in the economy sometimes prevent ...
The Federal Reserve confirms that we should gradually get ready for
... takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. The data on prices or margins are provided for information purposes and may be modif ...
... takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. The data on prices or margins are provided for information purposes and may be modif ...
Algerie Country Profile
... growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment. ...
... growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment. ...
B L R F
... to market participants and result in the shifting of property rights among them. In a state-planned economy, the changing value of economic inputs is not reflected in price adjustments determined in the market, and state bureaucrats will be generally resistant to the forces of creative destruction. ...
... to market participants and result in the shifting of property rights among them. In a state-planned economy, the changing value of economic inputs is not reflected in price adjustments determined in the market, and state bureaucrats will be generally resistant to the forces of creative destruction. ...
Labor Market Imbalances: Shortages, Surpluses, or What?
... below-average education levels. The share of the U.S. population from disadvantaged minorities (African Americans, Hispanic, American Indians, Alaska Natives) is projected to rise from 25 percent in 2000 to 37 percent in 2050. Some analysts worry that as a result the U.S. workforce will become less ...
... below-average education levels. The share of the U.S. population from disadvantaged minorities (African Americans, Hispanic, American Indians, Alaska Natives) is projected to rise from 25 percent in 2000 to 37 percent in 2050. Some analysts worry that as a result the U.S. workforce will become less ...
International Accounting Standard 29
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
Chapter 13 Powerpoint
... employed at jobs below their capacity. Examples of underemployment include a college graduate with a Bachelor’s degree in business working as a cook at a fast food restaurant, and a teacher who is unable to find a fulltime job working as a substitute teacher. Underemployed people are counted as bein ...
... employed at jobs below their capacity. Examples of underemployment include a college graduate with a Bachelor’s degree in business working as a cook at a fast food restaurant, and a teacher who is unable to find a fulltime job working as a substitute teacher. Underemployed people are counted as bein ...
GroupA - UCSB Economics
... DLNUNRATE term is approximately orthogonalized (Nun(t) is used to represent this new term). Since all terms in the original equation must undergo the same transformation, a new dependent variable is derived, which is referred to as w(t). In similar fashion, the transformed error term is now referred ...
... DLNUNRATE term is approximately orthogonalized (Nun(t) is used to represent this new term). Since all terms in the original equation must undergo the same transformation, a new dependent variable is derived, which is referred to as w(t). In similar fashion, the transformed error term is now referred ...
11. Joanna Stawska, Lena Grzesiak – Challenges for Policy Mix in
... economy. These both policies are used by economic authorities in order to achieve its macroeconomic objectives. That is why this issue is so essential and should not be marginalized by authorities. Monetary policy and fiscal policy play an important role in the economy. They have an enormous impact ...
... economy. These both policies are used by economic authorities in order to achieve its macroeconomic objectives. That is why this issue is so essential and should not be marginalized by authorities. Monetary policy and fiscal policy play an important role in the economy. They have an enormous impact ...
The Multiplier Long Run Economic Growth
... Ignores the role of CONFIDENCE. Economy might be growing, but do businesses think it will be sustained? Investment decisions are large and complex, made well before changes in the economic conditions Exogenous factors just as influential ‘No more boom and bust’ – Governments can smooth out t ...
... Ignores the role of CONFIDENCE. Economy might be growing, but do businesses think it will be sustained? Investment decisions are large and complex, made well before changes in the economic conditions Exogenous factors just as influential ‘No more boom and bust’ – Governments can smooth out t ...