Week 13
... 5. Technical progress is biased as in increases income inequalities, either by reducing the wages of the unskilled labourers, either by increasing unemployment (i.e. By reducing their employability). ...
... 5. Technical progress is biased as in increases income inequalities, either by reducing the wages of the unskilled labourers, either by increasing unemployment (i.e. By reducing their employability). ...
Business Investment
... everyday sense but purchases of plant & equipment, (or additions to inventories) “I” is demand today, supply tomorrow; unique among GNP spending categories The capacity created by I is flexible (through variation in shifts, maintenance schedules, etc) so purchase can be delayed in tough times ...
... everyday sense but purchases of plant & equipment, (or additions to inventories) “I” is demand today, supply tomorrow; unique among GNP spending categories The capacity created by I is flexible (through variation in shifts, maintenance schedules, etc) so purchase can be delayed in tough times ...
3 Solow growth model
... depreciation, and hence capital per worker levels off. Saving and capital accumulation on its own, with given technology, cannot explain long-run economic expansion. Evidence Current affairs The US has a very large budget deficit, about 5% of GDP, for as far as the eye can see, with the Administrati ...
... depreciation, and hence capital per worker levels off. Saving and capital accumulation on its own, with given technology, cannot explain long-run economic expansion. Evidence Current affairs The US has a very large budget deficit, about 5% of GDP, for as far as the eye can see, with the Administrati ...
Figure 1 Adjusted net savings rates vs. GDP per capita
... sustainability is limited. However, selected biophysical indicators may be an essential complement to the monetary accounting-based indicators. The argument for complementary indicator sets revolves around the limits to substitutability between produced and natural assets. If certain natural assets ...
... sustainability is limited. However, selected biophysical indicators may be an essential complement to the monetary accounting-based indicators. The argument for complementary indicator sets revolves around the limits to substitutability between produced and natural assets. If certain natural assets ...
Update of the 1994 R&D Satellite Account
... Note: A number of analysts attributed the large difference between equity values and the replacement value of plant and equipment to intangibles during the market run-up in the late 1990s. ...
... Note: A number of analysts attributed the large difference between equity values and the replacement value of plant and equipment to intangibles during the market run-up in the late 1990s. ...
2012-National Accounts - Vanuatu National Statistics Office
... Standard industrial Classification (ISIC, Rev.4) this is the high aggregate level of presenting output by industry. ...
... Standard industrial Classification (ISIC, Rev.4) this is the high aggregate level of presenting output by industry. ...
Economic concerns about high fixed charge pricing for electric service
... costs are sunk. The efficient volumetric price reflects only those costs that vary with usage. But that notion can be misleading. The relevant economic costs are those that vary over the long run, not the short run. The practically achievable benchmark for efficient pricing is more likely to be a ty ...
... costs are sunk. The efficient volumetric price reflects only those costs that vary with usage. But that notion can be misleading. The relevant economic costs are those that vary over the long run, not the short run. The practically achievable benchmark for efficient pricing is more likely to be a ty ...
No Slide Title
... The market value of all final goods and services in an economy produced by resources owned by the people of that economy ©1999 South-Western College Publishing ...
... The market value of all final goods and services in an economy produced by resources owned by the people of that economy ©1999 South-Western College Publishing ...
Document
... 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 of their stock by increasing capital, and if q ...
... 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 of their stock by increasing capital, and if q ...
SNA production boundary
... growing your own potatoes can be seen as an economic activity even though there is no cash transaction involved. Or again, travelling to work can be seen as an economic activity since it is a necessary prelude to earning one’s living. The so-called « production boundary » defines which of these and ...
... growing your own potatoes can be seen as an economic activity even though there is no cash transaction involved. Or again, travelling to work can be seen as an economic activity since it is a necessary prelude to earning one’s living. The so-called « production boundary » defines which of these and ...
Define and Discuss on Gross Domestic Product WWW
... Growth rate of GDP. The value of GDP by itself is not very interesting. What is interesting is the annual growth rate, or year‐to‐year percentage change, in the value of GDP. To calculate the percentage change in a statistic, such as GDP, one needs to know the value of the statistic at two dates in ...
... Growth rate of GDP. The value of GDP by itself is not very interesting. What is interesting is the annual growth rate, or year‐to‐year percentage change, in the value of GDP. To calculate the percentage change in a statistic, such as GDP, one needs to know the value of the statistic at two dates in ...
Lecture 2 The Measurement and Structure of the National Economy
... purchased by someone (expenditure approach) and results in income to someone (income approach). ...
... purchased by someone (expenditure approach) and results in income to someone (income approach). ...
Real GDP
... Gross Domestic Product is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the government's official measure of how much output our economy produces. It includes: • Total expenditure on do ...
... Gross Domestic Product is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the government's official measure of how much output our economy produces. It includes: • Total expenditure on do ...
Document
... • however there is an ongoing need for ex-measures to exclude the Public Sector Banks • Consulted on new principles for any ex-measures based around: • Ensuring a measure as inclusive as possible to ensure transparent reporting of public liabilities whilst allowing exclusions due to size and lack of ...
... • however there is an ongoing need for ex-measures to exclude the Public Sector Banks • Consulted on new principles for any ex-measures based around: • Ensuring a measure as inclusive as possible to ensure transparent reporting of public liabilities whilst allowing exclusions due to size and lack of ...
Sweden has had a stable financial surplus for many years
... Direct investments: Cautious valuation and SEK appreciation affect the value One factor that has contributed to the value loss for the stock of direct investments is that the transactions and the stock of assets have been valued according to different principles in the statistics. While direct inves ...
... Direct investments: Cautious valuation and SEK appreciation affect the value One factor that has contributed to the value loss for the stock of direct investments is that the transactions and the stock of assets have been valued according to different principles in the statistics. While direct inves ...
public investment and competitiveness in ecowas:an empirical
... • All the variables were tested for their time series properties and most of them were integrated of degree I(1). • The process and the results of the stationarity tests are presented in the appendix. The models were estimated using both fixed-effects and random effects. • In panel data, the depende ...
... • All the variables were tested for their time series properties and most of them were integrated of degree I(1). • The process and the results of the stationarity tests are presented in the appendix. The models were estimated using both fixed-effects and random effects. • In panel data, the depende ...
goods and services produced by nationals within the
... indicator. However, current income might not always give the right information about the real economic condition. Why? For example, a retired person may not have any current income but might have millions of taka as assets. On the other hand, a fresh graduate may have taka 40,000 per month income as ...
... indicator. However, current income might not always give the right information about the real economic condition. Why? For example, a retired person may not have any current income but might have millions of taka as assets. On the other hand, a fresh graduate may have taka 40,000 per month income as ...
Chapter 7
... GDP (add it). B. If businesses are able to sell more than they currently produce, changes in inventory will be a negative number. when inventory decreases, output produced will be less than what is purchased. Since this inventory depletion had been counted in GDP of previous years, we need to subtra ...
... GDP (add it). B. If businesses are able to sell more than they currently produce, changes in inventory will be a negative number. when inventory decreases, output produced will be less than what is purchased. Since this inventory depletion had been counted in GDP of previous years, we need to subtra ...
Building Value: The Role of Trademarks for Economic
... Those numbers show how resources are mainly allocated in both economies. In the EU, a large amount of capital and labour is employed in sectors where tangible assets such as machinery and equipment, e.g. heavy industries, still play an important role. In comparison, US economy seems to be driven by ...
... Those numbers show how resources are mainly allocated in both economies. In the EU, a large amount of capital and labour is employed in sectors where tangible assets such as machinery and equipment, e.g. heavy industries, still play an important role. In comparison, US economy seems to be driven by ...
the Secular Stagnation of Investment
... the evolution of real GDP and real net non residential fixed investment, which includes structures, equipment, software, and intellectual property products. Both series are measured in chained 2009 dollars. We can see the drop and recovery of real GDP. By 2014, real GDP is higher than its pre-crisi ...
... the evolution of real GDP and real net non residential fixed investment, which includes structures, equipment, software, and intellectual property products. Both series are measured in chained 2009 dollars. We can see the drop and recovery of real GDP. By 2014, real GDP is higher than its pre-crisi ...
A Levy Institute Model for Greece: Technical Paper
... h) Other variables of less importance are also exogenous, such as other net payments from abroad other than interest payments or compensation of employees, etc. 2. The Data As we noted in Papadimitriou et al. (2012), the specification of a model for the Greek economy had to address severe problems r ...
... h) Other variables of less importance are also exogenous, such as other net payments from abroad other than interest payments or compensation of employees, etc. 2. The Data As we noted in Papadimitriou et al. (2012), the specification of a model for the Greek economy had to address severe problems r ...
Document
... The marginal product of capital for the Cobb-Douglas production function is MPK = aA(L/K)1-a. Because the real rental price equals the marginal product of capital in equilibrium, we can write R/P = aA(L/K)1-a . This expression identifies the variables that determine the real rental price. It shows ...
... The marginal product of capital for the Cobb-Douglas production function is MPK = aA(L/K)1-a. Because the real rental price equals the marginal product of capital in equilibrium, we can write R/P = aA(L/K)1-a . This expression identifies the variables that determine the real rental price. It shows ...
Ch17.pps
... The marginal product of capital for the Cobb-Douglas production function is MPK = aA(L/K)1-a. Because the real rental price equals the marginal product of capital in equilibrium, we can write R/P = aA(L/K)1-a . This expression identifies the variables that determine the real rental price. It shows ...
... The marginal product of capital for the Cobb-Douglas production function is MPK = aA(L/K)1-a. Because the real rental price equals the marginal product of capital in equilibrium, we can write R/P = aA(L/K)1-a . This expression identifies the variables that determine the real rental price. It shows ...
Gross domestic product (2008-I = 100)
... accounts describe the monetary flows in the Dutch economy between households, corporations, government and the rest of the world. Both systems describe the whole economy and together form a consistent entity. The labour accounts make up the third core system. Apart from these three core systems, the ...
... accounts describe the monetary flows in the Dutch economy between households, corporations, government and the rest of the world. Both systems describe the whole economy and together form a consistent entity. The labour accounts make up the third core system. Apart from these three core systems, the ...
Overview of Output Measures Used by BLS to Construct Productivity Statistics for Major Sectors of the U.S. Economy
... Real output measures used by the BLS to construct major sector productivity statistics are produced by the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce. The most widely known measure of aggregate output for the U.S. economy is gross domestic product (GDP). GDP is the sum of p ...
... Real output measures used by the BLS to construct major sector productivity statistics are produced by the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce. The most widely known measure of aggregate output for the U.S. economy is gross domestic product (GDP). GDP is the sum of p ...
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.