Chapter 24 - Measuring the Wealth of Nations
... The market value of a good or service is the price at which it is bought and sold. If we add up all the money people spend buying final goods and services—being careful to omit spending on intermediate goods so as not to double-count—the sum will be the market value of all output sold in the economy ...
... The market value of a good or service is the price at which it is bought and sold. If we add up all the money people spend buying final goods and services—being careful to omit spending on intermediate goods so as not to double-count—the sum will be the market value of all output sold in the economy ...
Diminishing Quality of Fiscal Institutions in the United States and European Union
... increasing the debt to excessive levels. Recent levels of indebtedness represent a significant departure from the fiscal discipline that prevailed for more than two centuries. Research on the history of economic growth has demonstrated the significance of economic institutions (Acemoglu and Robinson ...
... increasing the debt to excessive levels. Recent levels of indebtedness represent a significant departure from the fiscal discipline that prevailed for more than two centuries. Research on the history of economic growth has demonstrated the significance of economic institutions (Acemoglu and Robinson ...
Chapter 3: FISCAL REPAIR: PAINFUL BUT NECESSARY
... would be around £2,220 billion (or roughly an extra £3,500 per person in the UK in today’s terms). It is this ‘loss’ of productive capacity that has caused a hole to open up in the public finances and has similarly damaged the prospects for private consumption. Our estimates, based on the OBR’s late ...
... would be around £2,220 billion (or roughly an extra £3,500 per person in the UK in today’s terms). It is this ‘loss’ of productive capacity that has caused a hole to open up in the public finances and has similarly damaged the prospects for private consumption. Our estimates, based on the OBR’s late ...
Economists : Occupational Outlook Handbook : U.S. Bureau of
... Interpret and forecast market trends Advise businesses, governments, and individuals on economic topics Design policies or make recommendations for solving economic problems Write articles for publication in academic journals and other media sources Economists apply economic analysis to issues withi ...
... Interpret and forecast market trends Advise businesses, governments, and individuals on economic topics Design policies or make recommendations for solving economic problems Write articles for publication in academic journals and other media sources Economists apply economic analysis to issues withi ...
Debt and deleveraging: Uneven progress on the path to
... particularly relevant today. They show two distinct phases of deleveraging. In the first, households, corporations, and financial institutions reduce debt significantly over several years, while economic growth is negative or minimal and government debt rises. In the second phase, growth rebounds an ...
... particularly relevant today. They show two distinct phases of deleveraging. In the first, households, corporations, and financial institutions reduce debt significantly over several years, while economic growth is negative or minimal and government debt rises. In the second phase, growth rebounds an ...
Measuring Government in the 21st Century
... has a relatively smaller public sector if total public sector employment or final demand is used, but a relatively larger one if government employment7 or consumption expenditure is used.8 In a study of European public sector size, Handler et al. (2005: 3) argue that the public sector is difficult t ...
... has a relatively smaller public sector if total public sector employment or final demand is used, but a relatively larger one if government employment7 or consumption expenditure is used.8 In a study of European public sector size, Handler et al. (2005: 3) argue that the public sector is difficult t ...
Austerity: Too Much of a Good Thing?
... Corsetti et al. 2012 for details). The figure plots the responses of output (left graph) and the deficit-to-GDP ratio (right graph) to a spending cut by 1% of GDP, against two key features of the crisis. On the right axis is the expected duration of the recession, in quarters, running from four to e ...
... Corsetti et al. 2012 for details). The figure plots the responses of output (left graph) and the deficit-to-GDP ratio (right graph) to a spending cut by 1% of GDP, against two key features of the crisis. On the right axis is the expected duration of the recession, in quarters, running from four to e ...
Roads to Prosperity or Bridges to Nowhere? Theory and Evidence
... response pattern when we look at other economic outcomes, though there is no evidence of an initial impact for employment, unemployment, or wages and salaries. Reassuringly, we find especially large medium-run (six to eight years out) effects in sectors most likely to directly benefit from highway i ...
... response pattern when we look at other economic outcomes, though there is no evidence of an initial impact for employment, unemployment, or wages and salaries. Reassuringly, we find especially large medium-run (six to eight years out) effects in sectors most likely to directly benefit from highway i ...
Roads to Prosperity or Bridges to Nowhere?
... This U-shaped pattern is broadly consistent with our estimated GDP impulse response function with respect to highway spending shocks (which would occur several years prior to a highway completion). A recent paper by Leigh and Neill (2011) estimates a static, cross-section, instrumental-variable (IV) ...
... This U-shaped pattern is broadly consistent with our estimated GDP impulse response function with respect to highway spending shocks (which would occur several years prior to a highway completion). A recent paper by Leigh and Neill (2011) estimates a static, cross-section, instrumental-variable (IV) ...
22-66 What Happens When Potential Output Changes?
... • Why is it that output and inflation vary from quarter to quarter and year to year? • What determines the extent of the fluctuations? • Figure 22.1 illustrates the long-run trends in the U.S. inflation rate over the past 50 years. • It also displays a series of shaded bars ...
... • Why is it that output and inflation vary from quarter to quarter and year to year? • What determines the extent of the fluctuations? • Figure 22.1 illustrates the long-run trends in the U.S. inflation rate over the past 50 years. • It also displays a series of shaded bars ...
NBER WORKING PAPER SERIES Robert J. Gordon Working Paper 11778
... This paper develops a new analysis of the U. S. economy in the 1920s that is illuminated by contrasts with the 1990s, and it also re-examines the causes of the Great Depression. In both the 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invent ...
... This paper develops a new analysis of the U. S. economy in the 1920s that is illuminated by contrasts with the 1990s, and it also re-examines the causes of the Great Depression. In both the 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invent ...
The Great Moderation and "Falling Off a Cliff": neo
... the economy from a Fall – but who knows? o We may not have been suffering from a Fall. 8/5/2011 rev. ...
... the economy from a Fall – but who knows? o We may not have been suffering from a Fall. 8/5/2011 rev. ...
Is There Any Tradeoff Between Inflation And Unemployment?
... NAIRU (non accelerating inflation rate of unemployment). NRU (natural rate of unemployment) determines Inflation in the long run, and an attempt to push the economy below that rate of unemployment, sometimes it is also called the non-acceleratingInflation-rate-of-unemployment (NAIRU), would lead to in ...
... NAIRU (non accelerating inflation rate of unemployment). NRU (natural rate of unemployment) determines Inflation in the long run, and an attempt to push the economy below that rate of unemployment, sometimes it is also called the non-acceleratingInflation-rate-of-unemployment (NAIRU), would lead to in ...
GDP Revisions: Measurement and Implications
... the average size of revisions regardless of sign (Table 1). Since 1998, the first estimate of growth in GDP(A) has been revised, on average, by more than 0.3 percentage points in quarterly terms and 0.5 percentage points in year-ended terms. To put this into perspective, the average quarterly grow ...
... the average size of revisions regardless of sign (Table 1). Since 1998, the first estimate of growth in GDP(A) has been revised, on average, by more than 0.3 percentage points in quarterly terms and 0.5 percentage points in year-ended terms. To put this into perspective, the average quarterly grow ...
NBER WORKING PAPER SERIES THE CONDUCT OF DOMESTIC ICY Robert J. Gordon
... The role of aggregate supply behavior is illustrated with a one— equation approach to the econometric problem of predicting how changes in nominal GNP growth will be divided between inflation and real GNP growth. The results from the equation estimated through 1980 are used to examine the behavior o ...
... The role of aggregate supply behavior is illustrated with a one— equation approach to the econometric problem of predicting how changes in nominal GNP growth will be divided between inflation and real GNP growth. The results from the equation estimated through 1980 are used to examine the behavior o ...
Ch. 15
... The name of the curve reflects the fact that short-run equilibrium output is determined by, and equals, total planned spending in the ...
... The name of the curve reflects the fact that short-run equilibrium output is determined by, and equals, total planned spending in the ...
The Data of Macroeconomics
... individual households and firms make decisions and how they interact with one another in markets. Macroeconomics is the study of the economy as a whole. The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously. Macroeconomists addre ...
... individual households and firms make decisions and how they interact with one another in markets. Macroeconomics is the study of the economy as a whole. The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously. Macroeconomists addre ...
Effects of Fiscal Policy on Consumer Confidence
... does not directly affect their lives. Economics is different because people have no choice. They must form opinions on the economy because they have to make important financial decisions. As a result, most people’s behavior follows their opinions on economic conditions. To some extent, people’s perc ...
... does not directly affect their lives. Economics is different because people have no choice. They must form opinions on the economy because they have to make important financial decisions. As a result, most people’s behavior follows their opinions on economic conditions. To some extent, people’s perc ...
Macroeconomic Policy Advice and the Article IV Consultations:
... Europe remains mired in its second recession in three years, and the International Monetary Fund’s (IMF’s) most recent (October 2012) World Economic Outlook (WEO) sees its problems as perhaps the most important drag on world economic growth, which has slowed to a projected 3.3 percent for 2012 (as c ...
... Europe remains mired in its second recession in three years, and the International Monetary Fund’s (IMF’s) most recent (October 2012) World Economic Outlook (WEO) sees its problems as perhaps the most important drag on world economic growth, which has slowed to a projected 3.3 percent for 2012 (as c ...
Henrike Michaelis und Sebastian Watzka: Are there Differences in
... some form of ‘Quantitative Easing’ (QE). Within the VAR framework, several papers deal explicitly with the ZLB for Japan and investigate the monetary policy transmission during these periods. Fujiwara (2006) uses a Markov switching VAR model for the period of 1985 to 2004 to investigate whether ther ...
... some form of ‘Quantitative Easing’ (QE). Within the VAR framework, several papers deal explicitly with the ZLB for Japan and investigate the monetary policy transmission during these periods. Fujiwara (2006) uses a Markov switching VAR model for the period of 1985 to 2004 to investigate whether ther ...
Keynes Good - Open Evidence Archive
... economics, and over the course of the next seven years, government spending on the economy — increasingly fueled by the demands of World War II — would grow to unprecedented levels, all but wiping out unemployment (which fell to below 2 percent by 1943) and turning the United States into a global su ...
... economics, and over the course of the next seven years, government spending on the economy — increasingly fueled by the demands of World War II — would grow to unprecedented levels, all but wiping out unemployment (which fell to below 2 percent by 1943) and turning the United States into a global su ...
Output and Expenditure in the Short Run
... GDP in the short run, assuming the price level is constant. In any particular year, the level of GDP is determined by the level of total spending, or aggregate expenditure, in the economy. The four components of aggregate expenditure are: consumption (C), planned investment (I), government purchases ...
... GDP in the short run, assuming the price level is constant. In any particular year, the level of GDP is determined by the level of total spending, or aggregate expenditure, in the economy. The four components of aggregate expenditure are: consumption (C), planned investment (I), government purchases ...
Real GDP, Well-being, and Happiness
... Series 12: Involuntary part-time employment. Involuntary part-time workers are part-time workers who are working less than 30-usual hours per week because they could not find a fulltime job. Represented in thousands. Exclusions: Finland, Iceland, Korea, Mexico, United States Citation: OECD statistic ...
... Series 12: Involuntary part-time employment. Involuntary part-time workers are part-time workers who are working less than 30-usual hours per week because they could not find a fulltime job. Represented in thousands. Exclusions: Finland, Iceland, Korea, Mexico, United States Citation: OECD statistic ...
View Document
... growth, which continued even during the global financial crisis. Puma Energy is ahead of the competition in the global market, having invested heavily in mid- and down-stream assets in a number of fastgrowing frontiers. Our presence in diverse regions, ranging from Central and South America to Sub-S ...
... growth, which continued even during the global financial crisis. Puma Energy is ahead of the competition in the global market, having invested heavily in mid- and down-stream assets in a number of fastgrowing frontiers. Our presence in diverse regions, ranging from Central and South America to Sub-S ...