Increasing intellectual capital
... report on intellectual capital to external parties. Skandia’s intellectual report dates back to 1994. • Mid-1990s – several important books on intellectual capital are published: Sveiby (1997) • Skandia (1994). Leif Edvinsson was appointed the first director of intellectual capital in Scandia in 199 ...
... report on intellectual capital to external parties. Skandia’s intellectual report dates back to 1994. • Mid-1990s – several important books on intellectual capital are published: Sveiby (1997) • Skandia (1994). Leif Edvinsson was appointed the first director of intellectual capital in Scandia in 199 ...
National Income Accounting
... country within an accounting year. The concept of National Income can be explained from three sides – I) Production II) Income and III) Expenditure ...
... country within an accounting year. The concept of National Income can be explained from three sides – I) Production II) Income and III) Expenditure ...
The Neoclassical Growth Models
... To the right of the steady stock of capital the capital is above its steady state value, so the marginal product of capital is below the steady state value of marginal product. So consumption is falling. Consumption rises to the left of the vertical line. If equation 14 is less than zero then consum ...
... To the right of the steady stock of capital the capital is above its steady state value, so the marginal product of capital is below the steady state value of marginal product. So consumption is falling. Consumption rises to the left of the vertical line. If equation 14 is less than zero then consum ...
What is behind discrepancies between growth in GDP and
... and unit labour costs. Moreover, if the share of product taxes (minus subsidies) in GDP varies significantly over the economic cycle, economy-wide developments in productivity and unit labour costs based on GDP will deviate from those implied by sectoral developments. Empirical discrepancies between ...
... and unit labour costs. Moreover, if the share of product taxes (minus subsidies) in GDP varies significantly over the economic cycle, economy-wide developments in productivity and unit labour costs based on GDP will deviate from those implied by sectoral developments. Empirical discrepancies between ...
Questions for Chapter 2
... 1. Why is the demand for goods and services, denoted by Z in chapter 3, always equal to Gross Domestic Product? Does this mean that supply and demand are always equal? In the National Income and Product Accounts (NIPA), the Flow of demand Z is defined to include, as part of its second component (Inv ...
... 1. Why is the demand for goods and services, denoted by Z in chapter 3, always equal to Gross Domestic Product? Does this mean that supply and demand are always equal? In the National Income and Product Accounts (NIPA), the Flow of demand Z is defined to include, as part of its second component (Inv ...
English
... which should not affect the aggregate production figure. • If OOH was not imputed: – The comparison of the level of GDP between two countries would be affected by a difference in the rate of ownership by households of their houses. – The change in GDP between two periods would be affected by the cha ...
... which should not affect the aggregate production figure. • If OOH was not imputed: – The comparison of the level of GDP between two countries would be affected by a difference in the rate of ownership by households of their houses. – The change in GDP between two periods would be affected by the cha ...
Why expenditure = income The Circular Flow Circular flow
... def1: spending on newly produced capital. def2: spending on goods bought for future use. ...
... def1: spending on newly produced capital. def2: spending on goods bought for future use. ...
A Multiplier-Accelerator Input-Output Model
... refers to induced final consumption, i.e. households’ expenditures that can be computed as c times disposable income. The propensity to consume (c) has proved to be high and stable. I refers to productive investment by firms of the expansionary type. The way it has been formulated shows that firms a ...
... refers to induced final consumption, i.e. households’ expenditures that can be computed as c times disposable income. The propensity to consume (c) has proved to be high and stable. I refers to productive investment by firms of the expansionary type. The way it has been formulated shows that firms a ...
The Accelerator theory
... Critics argue that the wild swings portended by the Accelerator theory may not hold, depending on ...
... Critics argue that the wild swings portended by the Accelerator theory may not hold, depending on ...
Impact of changes in Blue Book and Pink Books 2013` presented by
... Changes in Blue Book 2013 • Alignment of the National Accounts with Public Sector Finances • Measurement of bonds liabilities, and • Measurement of UK Private Non-Financial Corporations’ (PNFCs) overseas deposits and loans • Gross Fixed Capital Formation, and • Changes in inventories systems • Impr ...
... Changes in Blue Book 2013 • Alignment of the National Accounts with Public Sector Finances • Measurement of bonds liabilities, and • Measurement of UK Private Non-Financial Corporations’ (PNFCs) overseas deposits and loans • Gross Fixed Capital Formation, and • Changes in inventories systems • Impr ...
The Impact of Capital Formation on the Growth of Nigerian Economy
... invested. Recent literature has confused investment with capital formation. Investment can be in financial assets, human (capital) development, real assets that can be productive or unproductive. The increase in investment through non-financial assets has been held to increase value to the economy a ...
... invested. Recent literature has confused investment with capital formation. Investment can be in financial assets, human (capital) development, real assets that can be productive or unproductive. The increase in investment through non-financial assets has been held to increase value to the economy a ...
Capital Investment - Oldfield Economics
... Exploit economies of scale (lower LRAC) Investing in new technology to remain competitive against other producers ...
... Exploit economies of scale (lower LRAC) Investing in new technology to remain competitive against other producers ...
Notional real expenditures for 2011
... Estimated expenditure in year of data source Adjustments made to data from original data ...
... Estimated expenditure in year of data source Adjustments made to data from original data ...
National Income determination
... Keynes developed this conceptual approach to looking at the whole economy because he didn't like the kinds of results generated by the private sector and wanted tools that could help figure out how to intervene For example, in Great Depression, faced with stock market crash and industrial unions ...
... Keynes developed this conceptual approach to looking at the whole economy because he didn't like the kinds of results generated by the private sector and wanted tools that could help figure out how to intervene For example, in Great Depression, faced with stock market crash and industrial unions ...
Lecture 2
... multiplied by its quantity. 2. What Produced (A final good or a service) • Final good or service is a good or service that is produced for its final user and not as a component of another good or service. • Intermediate good or service is a good or service that is produced by one firm, bought by ano ...
... multiplied by its quantity. 2. What Produced (A final good or a service) • Final good or service is a good or service that is produced for its final user and not as a component of another good or service. • Intermediate good or service is a good or service that is produced by one firm, bought by ano ...
ECON ch 10.1
... of a country during one year • Example: If production in Russia involves any capital owned by U.S. residents, it would be counted as part of the U.S. GNP • GDP more accurately represents short-term resource use changes in the economy ...
... of a country during one year • Example: If production in Russia involves any capital owned by U.S. residents, it would be counted as part of the U.S. GNP • GDP more accurately represents short-term resource use changes in the economy ...
National Income and Related Aggregates
... Refers to the money value of all final goods & services produced by residents of a country while working both within or outside the domestic territory in an accounting year. NI is expressed in monetary terms. It reflects the value of final goods & services. NI Is expressed over 1 financial year. ...
... Refers to the money value of all final goods & services produced by residents of a country while working both within or outside the domestic territory in an accounting year. NI is expressed in monetary terms. It reflects the value of final goods & services. NI Is expressed over 1 financial year. ...
Datos Avance de la Encuesta Industrial de Empresas
... Thus, the growth of household final consumption expenditure slowed to 3.3%, fundamentally due to the less expansive tendency of expenditure on durable goods and services, within a context in which consumer confidence also worsened slightly as compared with the previous quarter. ...
... Thus, the growth of household final consumption expenditure slowed to 3.3%, fundamentally due to the less expansive tendency of expenditure on durable goods and services, within a context in which consumer confidence also worsened slightly as compared with the previous quarter. ...
Saving and Investment in the Open Economy
... • In an open economy, desired national saving need not equal desired investment and in fact this rarely happens. • Higher values of the world real interest rate (rw) imply: – lower levels of desired consumption (people save more); – lower desired investment (higher uc). ...
... • In an open economy, desired national saving need not equal desired investment and in fact this rarely happens. • Higher values of the world real interest rate (rw) imply: – lower levels of desired consumption (people save more); – lower desired investment (higher uc). ...
Statement of Strategy Template for the Implementation Programme of the 2008
... o Detailing capital stock and consumption of fixed capital, including government consumption of fixed capital o Extending scope of monthly and quarterly production and price surveys for services o Integrating of BPM6 and 2008 SNA-related surveys o Increasing use of administrative data (service agree ...
... o Detailing capital stock and consumption of fixed capital, including government consumption of fixed capital o Extending scope of monthly and quarterly production and price surveys for services o Integrating of BPM6 and 2008 SNA-related surveys o Increasing use of administrative data (service agree ...
M16_Gordon8014701_12_Macro_C16
... The Accelerator Hypothesis (cont.) • The accelerator hypothesis assumes that the desired stock of capital (K*) is a multiple of expected sales: K* = v*Ye • Net investment is the change in the capital stock: In = ∆K = K – K-1 Assuming that capital is acquired quickly, In = K* - K*-1 In = v*∆Ye • W ...
... The Accelerator Hypothesis (cont.) • The accelerator hypothesis assumes that the desired stock of capital (K*) is a multiple of expected sales: K* = v*Ye • Net investment is the change in the capital stock: In = ∆K = K – K-1 Assuming that capital is acquired quickly, In = K* - K*-1 In = v*∆Ye • W ...
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.