This PDF is a selection from a published volume from... National Bureau of Economic Research
... accounts can be built along Keynesian lines (as with the traditional structure of the U.S. National Income and Product Accounts [NIPAs]), or they can be broadly defined to include environmental, social, and quality-of-life indicator variables; even within the corpus of “standard economics,” there ar ...
... accounts can be built along Keynesian lines (as with the traditional structure of the U.S. National Income and Product Accounts [NIPAs]), or they can be broadly defined to include environmental, social, and quality-of-life indicator variables; even within the corpus of “standard economics,” there ar ...
The Emperor Has New Clothes: Empirical Tests of Mainstream
... multiple types of capital over infinite time, with a constant discount rate equal to the consumption rate of interest, r. Weitzman states that this total stock of capital includes produced capital (“..equipment, structures and inventories”..), but also human capital, technology and natural resources ...
... multiple types of capital over infinite time, with a constant discount rate equal to the consumption rate of interest, r. Weitzman states that this total stock of capital includes produced capital (“..equipment, structures and inventories”..), but also human capital, technology and natural resources ...
Chapter VI: Capital, Investment, and International Capital
... The real interest rate is just one component of Ucc, and it should be rather uniform within the euro area If countries have negative net foreign investment this is likely to reflect other components of Ucc, including taxes Ucc drives the mobility of fresh capital Once installed, fixed capital is usu ...
... The real interest rate is just one component of Ucc, and it should be rather uniform within the euro area If countries have negative net foreign investment this is likely to reflect other components of Ucc, including taxes Ucc drives the mobility of fresh capital Once installed, fixed capital is usu ...
The Emperor Has New Clothes Mainstream Theories of Economic Growth .
... We start with the model of Weitzman (1976). He studies an economy which produces a single consumption good (or multiple consumption goods representable by an index number) using multiple types of capital over infinite time, with a constant discount rate equal to the consumption rate of interest, r. ...
... We start with the model of Weitzman (1976). He studies an economy which produces a single consumption good (or multiple consumption goods representable by an index number) using multiple types of capital over infinite time, with a constant discount rate equal to the consumption rate of interest, r. ...
中国生产法GDP、支出法GDP、投入产出表之间的内在联系
... could provide more and more information. However, an inevitable outstanding question is that the data source and measurement of these accounts are lack of close inter-relationship, and the accounting contents appear to be independent with each other in practice, therefore it is difficult to guarante ...
... could provide more and more information. However, an inevitable outstanding question is that the data source and measurement of these accounts are lack of close inter-relationship, and the accounting contents appear to be independent with each other in practice, therefore it is difficult to guarante ...
Economic Growth
... the correlation between high population growth and low steadystate income per worker? Why would high population growth tend to impoverish a country? Does the international data support this theory? ...
... the correlation between high population growth and low steadystate income per worker? Why would high population growth tend to impoverish a country? Does the international data support this theory? ...
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... income approach A method of computing GDP that measures the income—wages, rents, interest, and profits—received by all factors of production in producing final goods and services. ...
... income approach A method of computing GDP that measures the income—wages, rents, interest, and profits—received by all factors of production in producing final goods and services. ...
Three Approaches in calculating GDP
... Wan at $2 million. It spent $70 000 on buying an old lorry and spent $20 000 on buying cloth from a HK importer. The total consumer expenditure on G2000 this year is $5 million. And the value of its stock increases by $0.5Mn ...
... Wan at $2 million. It spent $70 000 on buying an old lorry and spent $20 000 on buying cloth from a HK importer. The total consumer expenditure on G2000 this year is $5 million. And the value of its stock increases by $0.5Mn ...
Three Approaches in calculating GDP
... Wan at $2 million. It spent $70 000 on buying an old lorry and spent $20 000 on buying cloth from a HK importer. The total consumer expenditure on G2000 this year is $5 million. And the value of its stock increases by $0.5Mn ...
... Wan at $2 million. It spent $70 000 on buying an old lorry and spent $20 000 on buying cloth from a HK importer. The total consumer expenditure on G2000 this year is $5 million. And the value of its stock increases by $0.5Mn ...
Chapter 12 Powerpoint
... Measurement of U.S. Output A nation’s annual output is referred to as the Gross Domestic Product (GDP) ...
... Measurement of U.S. Output A nation’s annual output is referred to as the Gross Domestic Product (GDP) ...
Business fixed investment
... The real cost of capital—the cost of buying and renting out a unit of capital measured in terms of the economy’s output is: Real Cost of Capital = (PK / P )(r + ) where r is the real interest rate and PK / P equals the relative price of capital To derive this equation, we assume that the rate of in ...
... The real cost of capital—the cost of buying and renting out a unit of capital measured in terms of the economy’s output is: Real Cost of Capital = (PK / P )(r + ) where r is the real interest rate and PK / P equals the relative price of capital To derive this equation, we assume that the rate of in ...
Chapter 12
... • GNP is one measure of national income, but a more precise measure of national income is GNP adjusted for following: 1. Depreciation of physical capital results in a loss of income to capital owners, so the amount of depreciation is subtracted from GNP. 2. Unilateral transfers to and from other cou ...
... • GNP is one measure of national income, but a more precise measure of national income is GNP adjusted for following: 1. Depreciation of physical capital results in a loss of income to capital owners, so the amount of depreciation is subtracted from GNP. 2. Unilateral transfers to and from other cou ...
Chapter 6
... structures is indispensable for the state-capital relationship to be sufficiently favorable for profit-making and capital accumulation. However, unconstrained competition between states would undermine the long-term, common interests of the system as a whole and lead to the common destruction of all ...
... structures is indispensable for the state-capital relationship to be sufficiently favorable for profit-making and capital accumulation. However, unconstrained competition between states would undermine the long-term, common interests of the system as a whole and lead to the common destruction of all ...
INTERNATIONAL FACTOR MOVEMENT
... • Flexible exchange rates vary – this introduces risk into trade decisions. • Hedging options exist, but these are costly. • Foreign direct investment may be less under flexible exchange rates due to exchange rate risk. This means that world resource allocation may be sub-optimal under flexible ex ...
... • Flexible exchange rates vary – this introduces risk into trade decisions. • Hedging options exist, but these are costly. • Foreign direct investment may be less under flexible exchange rates due to exchange rate risk. This means that world resource allocation may be sub-optimal under flexible ex ...
Civil War and the Economics of Peace Dividend
... transactions or assets. These suffer a demand collapse: war operates like a tax on their output. The transactions producing activities are transport, trade, and financial services. The asset-producing activities are construction and livestock. To summarise, sectors have been distinguished according ...
... transactions or assets. These suffer a demand collapse: war operates like a tax on their output. The transactions producing activities are transport, trade, and financial services. The asset-producing activities are construction and livestock. To summarise, sectors have been distinguished according ...
Kuliah 1_Investasi
... The numerator of Tobin’s q is the value of the economy’s capital as determined by the stock market. The denominator is the price of capital as if it were purchased today. Tobin conveyed that net investment should depend on whether q is greater or less than 1. If q >1, then firms can raise the value ...
... The numerator of Tobin’s q is the value of the economy’s capital as determined by the stock market. The denominator is the price of capital as if it were purchased today. Tobin conveyed that net investment should depend on whether q is greater or less than 1. If q >1, then firms can raise the value ...
lecture notes - Livingston Public Schools
... a. All final purchases of machinery, equipment, and tools by businesses. b. All construction (including residential). c. Changes in business inventory. i. If total output exceeds current sales, inventories build up. ii. If businesses are able to sell more than they currently produce, this entry will ...
... a. All final purchases of machinery, equipment, and tools by businesses. b. All construction (including residential). c. Changes in business inventory. i. If total output exceeds current sales, inventories build up. ii. If businesses are able to sell more than they currently produce, this entry will ...
2008 SNA - United Nations Economic Commission for Europe
... output, intermediate consumption and gross fixed capital formation by three groups: • market producers which effect sales; • market producers which do not have sales (R&D development is performed at own expense); • units of public administration sector. ...
... output, intermediate consumption and gross fixed capital formation by three groups: • market producers which effect sales; • market producers which do not have sales (R&D development is performed at own expense); • units of public administration sector. ...
The Solow Growth Model: An Excel
... to the Golden Rule levels of k, s, and c. How does this change play out through time? Here we address that case of an economy that has been saving too much, so that its capital stock is too large to generate the maximum flow of consumption. We leave the examination of the other case as an exercise. ...
... to the Golden Rule levels of k, s, and c. How does this change play out through time? Here we address that case of an economy that has been saving too much, so that its capital stock is too large to generate the maximum flow of consumption. We leave the examination of the other case as an exercise. ...
with-profit annuities
... households, on aggregate, did not capitulate. Individuals continued to deleverage. Accordingly, the household debt ratio has declined to 75.5% of personal disposable income in the third quarter of 2013 from a peak of 83.0% in first quarter of 2009 and households’ savings improved from -1.2% of perso ...
... households, on aggregate, did not capitulate. Individuals continued to deleverage. Accordingly, the household debt ratio has declined to 75.5% of personal disposable income in the third quarter of 2013 from a peak of 83.0% in first quarter of 2009 and households’ savings improved from -1.2% of perso ...
The weakest part of China`s economic emergence is the financial
... strategy of calculating the upper bound of the level of informal investment from households by the following approach: each year, we calculate the total increase of Chinese household disposable income, as reported by the national statistical bureau. Also, in each year, we calculate the increase in h ...
... strategy of calculating the upper bound of the level of informal investment from households by the following approach: each year, we calculate the total increase of Chinese household disposable income, as reported by the national statistical bureau. Also, in each year, we calculate the increase in h ...
The weakest part of China`s economic emergence is the financial
... strategy of calculating the upper bound of the level of informal investment from households by the following approach: each year, we calculate the total increase of Chinese household disposable income, as reported by the national statistical bureau. Also, in each year, we calculate the increase in h ...
... strategy of calculating the upper bound of the level of informal investment from households by the following approach: each year, we calculate the total increase of Chinese household disposable income, as reported by the national statistical bureau. Also, in each year, we calculate the increase in h ...
Chapter 6
... structures is indispensable for the state-capital relationship to be sufficiently favorable for profit-making and capital accumulation. However, unconstrained competition between states would undermine the long-term, common interests of the system as a whole and lead to the common destruction of all ...
... structures is indispensable for the state-capital relationship to be sufficiently favorable for profit-making and capital accumulation. However, unconstrained competition between states would undermine the long-term, common interests of the system as a whole and lead to the common destruction of all ...
Gross fixed capital formation
Gross fixed capital formation (GFCF) is a macroeconomic concept used in official national accounts such as the United Nations System of National Accounts (UNSNA), National Income and Product Accounts (NIPA) and the European System of Accounts (ESA). The concept dates back to the National Bureau of Economic Research (NBER) studies of Simon Kuznets of capital formation in the 1930s, and standard measures for it were adopted in the 1950s. Statistically it measures the value of acquisitions of new or existing fixed assets by the business sector, governments and ""pure"" households (excluding their unincorporated enterprises) less disposals of fixed assets. GFCF is a component of the expenditure on gross domestic product (GDP), and thus shows something about how much of the new value added in the economy is invested rather than consumed.GFCF is called ""gross"" because the measure does not make any adjustments to deduct the consumption of fixed capital (depreciation of fixed assets) from the investment figures. For the analysis of the development of the productive capital stock, it is important to measure the value of the acquisitions less disposals of fixed assets beyond replacement for obsolescence of existing assets due to normal wear and tear. ""Net fixed investment"" includes the depreciation of existing assets from the figures for new fixed investment, and is called net fixed capital formation.GFCF is not a measure of total investment, because only the value of net additions to fixed assets is measured, and all kinds of financial assets are excluded, as well as stocks of inventories and other operating costs (the latter included in intermediate consumption). If, for example, one examines a company balance sheet, it is easy to see that fixed assets are only one component of the total annual capital outlay.The most important exclusion from GFCF is land sales and purchases. The original reason, leaving aside complex valuation problems involved in estimating the value of land in a standard way, was that if a piece of land is sold, the total amount of land already in existence, is not regarded as being increased thereby; all that happens is that the ownership of the same land changes. Therefore, only the value of land improvement is included in the GFCF measure as a net addition to wealth. In special cases, such as land reclamation from the sea, a river or a lake (e.g. a polder), new land can indeed be created and sold where it did not exist before, adding to fixed assets. The GFCF measure always applies to the resident enterprises of a national territory, and thus if e.g. oil exploration occurs in the open seas, the associated new fixed investment is allocated to the national territory in which the relevant enterprises are resident. Data is usually provided by statistical agencies annually and quarterly, but only within a certain time-lag. Fluctuations in this indicator are often considered to show something about future business activity, business confidence and the pattern of economic growth. In times of economic uncertainty or recession, typically business investment in fixed assets will be reduced, since it ties up additional capital for a longer interval of time, with a risk that it will not pay itself off (and fixed assets may therefore also be scrapped faster). Conversely, in times of robust economic growth, fixed investment will increase across the board, because the observed market expansion makes it likely that such investment will be profitable in the future.