National Saving and International ~ves~ment Norman S. Fieleke*
... and Horioka recognize the evidence that capital does flow across national boundaries in the short run in response to changing short-term coveredinterest differentials, but they argue that in the long run capital is much less responsive to yield differentials because of the greater risk and controls ...
... and Horioka recognize the evidence that capital does flow across national boundaries in the short run in response to changing short-term coveredinterest differentials, but they argue that in the long run capital is much less responsive to yield differentials because of the greater risk and controls ...
Symmetric Input-Output Tables and Quality Standards for
... Difficult to establish separate units for market and non-market operations. • Informal sector (32) Welcomes it, but it will not solve the basic data problems. • Government transactions with public corporations: Earnings from equity investment and capital injection (34) Is important in China, but it ...
... Difficult to establish separate units for market and non-market operations. • Informal sector (32) Welcomes it, but it will not solve the basic data problems. • Government transactions with public corporations: Earnings from equity investment and capital injection (34) Is important in China, but it ...
The trillion-dollar difference.
... national poll that they believe that computers and robots will take over in a half century the work that people now do (Smith 2016). Almost half of current US employment is at “high risk” of negative effects of computerization and the onslaught of technology, Oxford University experts say (Frey and ...
... national poll that they believe that computers and robots will take over in a half century the work that people now do (Smith 2016). Almost half of current US employment is at “high risk” of negative effects of computerization and the onslaught of technology, Oxford University experts say (Frey and ...
NBER WORKING PAPER SERIES Aart Kraay Jaume Ventura
... Once savings returns to normal, investment declines, adjustment costs disappear and the country portfolio returns gradually to its original composition. Throughout this adjustment process, the current account surplus is smaller than the one predicted by ...
... Once savings returns to normal, investment declines, adjustment costs disappear and the country portfolio returns gradually to its original composition. Throughout this adjustment process, the current account surplus is smaller than the one predicted by ...
Unexpected Inflation and Redistribution of Wealth
... example, a systematic review of the current inflationtargeting framework is underway (see the other articles in this issue). An issue that has received relatively less attention is the redistributional effects of unexpected inflation.1 Redistributional effects occur because many savings, investments, ...
... example, a systematic review of the current inflationtargeting framework is underway (see the other articles in this issue). An issue that has received relatively less attention is the redistributional effects of unexpected inflation.1 Redistributional effects occur because many savings, investments, ...
NBER WORKING PAPER SERIES CAN IT BE JAPAN’S SAVIOR Fumio Hayashi Koji Nomura
... Each sector utilizes many different capital assets. At the most detailed level of asset classification, the real capital stock and capital services are identical. However, when assets are aggregated into broader classes, the two are not the same, as first pointed out by Jorgenson and Griliches (1967 ...
... Each sector utilizes many different capital assets. At the most detailed level of asset classification, the real capital stock and capital services are identical. However, when assets are aggregated into broader classes, the two are not the same, as first pointed out by Jorgenson and Griliches (1967 ...
Expenditure Multipliers: The Keynesian Model
... Disposable income changes when either real GDP changes or net taxes change. If tax rates don’t change, real GDP is the only influence on disposable income, so consumption expenditure is a function of real GDP. We use this relationship to determine real GDP when the price level is fixed. ...
... Disposable income changes when either real GDP changes or net taxes change. If tax rates don’t change, real GDP is the only influence on disposable income, so consumption expenditure is a function of real GDP. We use this relationship to determine real GDP when the price level is fixed. ...
Explaining trends in UK business investment
... continue, on the back of continued technological improvements in that sector. But if firms had expected the future rate of relative price deflation to be even more rapid than in the past, these expected capital losses would have encouraged firms to reduce their demand for capital. And this would ten ...
... continue, on the back of continued technological improvements in that sector. But if firms had expected the future rate of relative price deflation to be even more rapid than in the past, these expected capital losses would have encouraged firms to reduce their demand for capital. And this would ten ...
Macroeconomic Measurement 1: Values and Prices
... The three definitions capture the idea that when something is produced, something is also sold1 and this sale generates revenues. One clarification is about the role of final and intermediate goods. Suppose Intel produces a chip that is sold to Dell that uses it to produce a computer. This transacti ...
... The three definitions capture the idea that when something is produced, something is also sold1 and this sale generates revenues. One clarification is about the role of final and intermediate goods. Suppose Intel produces a chip that is sold to Dell that uses it to produce a computer. This transacti ...
Chapter 2
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
CH 2 PDF
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
Chapter 2
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
... • GNP vs. GDP – Example: Engineering revenues for a road built by a U.S. company in Saudi Arabia is part of U.S. GNP (built by a U.S. factor of production), not U.S. GDP, and is part of Saudi GDP (built in Saudi Arabia), not Saudi GNP – Difference between GNP and GDP is small for the United States, ...
Government Consumption Expenditures and the Current Account
... supply. In the former case, there is a corresponding deterioration in the trade and current account balances, whereas, in the latter, there are no direct consequences on net exports of goods, services, and income. Similarly, since hours worked are nontraded, an increase in government hours does not ...
... supply. In the former case, there is a corresponding deterioration in the trade and current account balances, whereas, in the latter, there are no direct consequences on net exports of goods, services, and income. Similarly, since hours worked are nontraded, an increase in government hours does not ...
Sectoral Analysis
... medium- and long-term investment funds. Thus liquidity is often interchangeable with ‘cash’. However, in a strict sense, there is a continuum of liquidity in the scale of monetary supply items, ranging from cash to M3. According to Keynes, the loanable fund theory is flawed: The major supply of loan ...
... medium- and long-term investment funds. Thus liquidity is often interchangeable with ‘cash’. However, in a strict sense, there is a continuum of liquidity in the scale of monetary supply items, ranging from cash to M3. According to Keynes, the loanable fund theory is flawed: The major supply of loan ...
CHAPTER 8 National Income and Environmental
... 1. Natural capital depreciation can amount to a significant portion of GDP. According to this analysis, EDP is normally about 20 percent lower than GDP. In other words, natural capital depreciation offsets about 20 percent of total economic production. Thus GDP presents an overly positive assessmen ...
... 1. Natural capital depreciation can amount to a significant portion of GDP. According to this analysis, EDP is normally about 20 percent lower than GDP. In other words, natural capital depreciation offsets about 20 percent of total economic production. Thus GDP presents an overly positive assessmen ...
current_account
... goods and services purchased as inputs by firms. • GDP is a product measure, in contrast to GNE, which is an income measure. • In a closed economy, income is paid to domestic entities. It thus equals the total income resources of the economy, also known as gross national income (GNI). Copyright © 20 ...
... goods and services purchased as inputs by firms. • GDP is a product measure, in contrast to GNE, which is an income measure. • In a closed economy, income is paid to domestic entities. It thus equals the total income resources of the economy, also known as gross national income (GNI). Copyright © 20 ...
Budget 2017-18 - Budget Paper No. 1 - Statement 4
... does not impact on the underlying cash balance or the net operating balance. It creates a financial asset on the Commonwealth’s balance sheet. In some instances, these loan and equity contributions result in another entity investing in physical infrastructure. Spending in the first category will be ...
... does not impact on the underlying cash balance or the net operating balance. It creates a financial asset on the Commonwealth’s balance sheet. In some instances, these loan and equity contributions result in another entity investing in physical infrastructure. Spending in the first category will be ...
Paper - IIOA!
... international price) and total producing costs. The costs include the depreciation of fixed capital and return of capital. One thing must be pointed out: rational exploitation of natural resources is necessary to promoting economic growth, however, if the resources rent are too low, it will induce o ...
... international price) and total producing costs. The costs include the depreciation of fixed capital and return of capital. One thing must be pointed out: rational exploitation of natural resources is necessary to promoting economic growth, however, if the resources rent are too low, it will induce o ...
The financial crisis in the light of the euro area accounts
... The sectoral accounts present the accounts of institutional sectors in a coherent and integrated way, linking – similar to the way in which profit and loss, cash flows and balance sheet statements are linked in business accounting 1 – uses/expenditure, resources/revenue, financial flows and their ac ...
... The sectoral accounts present the accounts of institutional sectors in a coherent and integrated way, linking – similar to the way in which profit and loss, cash flows and balance sheet statements are linked in business accounting 1 – uses/expenditure, resources/revenue, financial flows and their ac ...
NBER WORKING PAPER SERIES INTERNATIONAL EFFECTS ON THE U.S. CAPITAL MARKET
... U.S. portfolio holdings of foreign equity, which stood at about $13.8 billion at the end of 1979, or a value 1.1 percent as large as U.S. firms' total equity outstanding, had, until 1979, exhibited very little fluctuation (see ...
... U.S. portfolio holdings of foreign equity, which stood at about $13.8 billion at the end of 1979, or a value 1.1 percent as large as U.S. firms' total equity outstanding, had, until 1979, exhibited very little fluctuation (see ...
Restoring Investment in America`s Economy
... The reasons for the decline in private investment are more complicated. Some argue that capital equipment has gotten cheaper, and therefore companies naturally should be spending less on it. But inflation-adjusted or quantity-based measures of investment have fallen as well, indicating a real declin ...
... The reasons for the decline in private investment are more complicated. Some argue that capital equipment has gotten cheaper, and therefore companies naturally should be spending less on it. But inflation-adjusted or quantity-based measures of investment have fallen as well, indicating a real declin ...
Principles of Economics, Case/Fair/Oster, 10e
... that measures the income—wages, rents, interest, and profits—received by all factors of production in producing final goods and services. ...
... that measures the income—wages, rents, interest, and profits—received by all factors of production in producing final goods and services. ...
AGGREGATE EXPENDITURE MODEL
... equipment, together with additions to inventories or increases in stocks is gross investment. It serves to increase the PPF. (It does not include financial assets.) In the National Accounts, gross investment is called private gross fixed capital formation. It excludes public or government invest ...
... equipment, together with additions to inventories or increases in stocks is gross investment. It serves to increase the PPF. (It does not include financial assets.) In the National Accounts, gross investment is called private gross fixed capital formation. It excludes public or government invest ...
Chapter 17: Measuring National Output and National Income
... expenditures by firms for machines, tools, plants, and so on. • Residential investment includes expenditures by households and firms on new houses and apartment buildings. • Change in inventories computes the amount by which firms’ inventories change during a given period. Inventories are the goods ...
... expenditures by firms for machines, tools, plants, and so on. • Residential investment includes expenditures by households and firms on new houses and apartment buildings. • Change in inventories computes the amount by which firms’ inventories change during a given period. Inventories are the goods ...
National Accounts Statistics Report 2000 – 2008, National Statistics
... activities. Economic activities are those which are devoted to making use of the scarce resources in the process of production and distribution of economic goods and services. Economic goods command a price in the market for their being scarce and transferable. The end result of all the economic act ...
... activities. Economic activities are those which are devoted to making use of the scarce resources in the process of production and distribution of economic goods and services. Economic goods command a price in the market for their being scarce and transferable. The end result of all the economic act ...
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.