Estimating Real Production And Expenditures Across Nations

Author : Anonim
Publisher : World Bank Publications
Page : 28 pages
File Size : 45,9 Mb
Release : 2007
Category : Gross domestic product
ISBN : 8210379456XXX

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Estimating Real Production and Expenditures Across Nations by Anonim Pdf

"From its inception, the Penn World Tables (PWT), building on the International Comparisons Program (ICP) of the United Nations, has sought to compare the standard of living of individuals in different countries. That is, the term "real GDP per capita" as reported in the PWT is intended to represent the ability to purchase goods and services by a representative agent in the economy. The same is true of benchmark comparisons as published by the United Nations, Eurostat, or OECD. But this expenditure-side interpretation of real GDP is quite different from the uses to which benchmark ICP and PWT data are frequently applied, such as in growth regressions, where "real GDP" is intended to reflect the production side of the economy. In this paper the authors propose a new approach to international comparisons of real GDP measured from the output side. They modify the traditional Gary-Khamis system, which measures real GDP from the expenditure side using real domestic expenditure, to include differences in the terms of trade between countries. The analysis shows that this system has a strictly positive solution under mild assumptions. On the basis of a set of domestic final output, import, and export prices and values for 151 countries in 1996, differences between real GDP measured from the expenditure and output side can be substantial, especially for small open economies."

Author : Robert C. Feenstra
Publisher : Unknown
Page : 0 pages
File Size : 53,8 Mb
Release : 2004
Category : Gross domestic product
ISBN : OCLC:1025120253

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Estimating Real Production and Expenditures Across Nations by Robert C. Feenstra Pdf

In this paper we propose a new approach to international comparisons of real GDP measured from the output-side. The traditional Geary-Khamis system to measure real GDP from the expenditure-side is modified to include differences in the terms of trade between countries. It is shown that this system has a strictly positive solution under mild assumptions. On the basis of a set of domestic final output, import and export prices and values for 14 European countries and the U.S. it is shown that differences between real GDP measured from the expenditure and output-side can be substantial, especially for small open economies.

Author : Robert C. Feenstra,Alan Heston,Marcel P. Timmer
Publisher : Unknown
Page : 128 pages
File Size : 55,6 Mb
Release : 2012
Category : Electronic
ISBN : OCLC:931669723

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Estimating Real Production and Expenditures Across Nations by Robert C. Feenstra,Alan Heston,Marcel P. Timmer Pdf

From its inception, the Penn World Tables (PWT), building on the International Comparisons Program (ICP) of the United Nations, has sought to compare the standard of living of individuals in different countries. That is, the term "real GDP per capita" as reported in the PWT is intended to represent the ability to purchase goods and services by a representative agent in the economy. The same is true of benchmark comparisons as published by the United Nations, Eurostat, or OECD. But this expenditure-side interpretation of real GDP is quite different from the uses to which benchmark ICP and PWT data are frequently applied, such as in growth regressions, where "real GDP" is intended to reflect the production side of the economy. In this paper the authors propose a new approach to international comparisons of real GDP measured from the output side. They modify the traditional Gary-Khamis system, which measures real GDP from the expenditure side using real domestic expenditure, to include differences in the terms of trade between countries. The analysis shows that this system has a strictly positive solution under mild assumptions. On the basis of a set of domestic final output, import, and export prices and values for 151 countries in 1996, differences between real GDP measured from the expenditure and output side can be substantial, especially for small open economies.

Author : World Bank
Publisher : World Bank Publications
Page : 697 pages
File Size : 42,7 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780821397282

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Measuring the Real Size of the World's Economy by World Bank Pdf

"This work is a product of the staff of The World Bank with external contributions"--T.p. verso.

Author : OECD,Eurostat
Publisher : OECD Publishing
Page : 448 pages
File Size : 55,9 Mb
Release : 2012-11-30
Category : Electronic
ISBN : 9789264189232

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Eurostat-OECD Methodological Manual on Purchasing Power Parities (2012 Edition) by OECD,Eurostat Pdf

This manual gives a complete, detailed and up-to-date description of the Eurostat-OECD PPP Programme, including its organisation, the various surveys carried out by participating countries and the ways PPPs are calculated and disseminated. It also provides guidance on the use of PPPs.

Author : Robert C. Feenstra
Publisher : Princeton University Press
Page : 491 pages
File Size : 42,9 Mb
Release : 2015-11-10
Category : Business & Economics
ISBN : 9780691161648

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Advanced International Trade by Robert C. Feenstra Pdf

Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises. Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come. Updated second edition of the essential graduate textbook Current approaches and a new chapter on monopolistic competition with heterogeneous firms Supplementary materials in each chapter Theoretical and empirical exercises Two appendices describe methods for international trade research

Author : Anonim
Publisher : Unknown
Page : 1202 pages
File Size : 44,9 Mb
Release : 2010
Category : Macroeconomics
ISBN : CORNELL:31924107858825

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American Economic Journal by Anonim Pdf

Author : Anonim
Publisher : Unknown
Page : 208 pages
File Size : 46,8 Mb
Release : 2012
Category : Commercial statistics
ISBN : UCR:31210024947119

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Survey of Current Business by Anonim Pdf

Author : Nina Budina,Sweder van Wijnbergen
Publisher : Unknown
Page : 48 pages
File Size : 52,5 Mb
Release : 2007
Category : Fiscal policy
ISBN : UCSD:31822034343582

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Quantitative Approaches to Fiscal Sustainability Analysis by Nina Budina,Sweder van Wijnbergen Pdf

Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They combine a dynamic simulations approach with a simplified version of the steady-state consistency approach. They also incorporate two different methods to deal with uncertainty: user-defined stress tests and stochastic simulations. The tool goes further by evaluating the required fiscal adjustment as a consequence of the stochastic realizations of the exogenous variables. Furthermore, the fiscal sustainability tool incorporates an endogenous debt feedback rule for the primary surplus, a fiscal policy reaction function. Besides outlining the theoretical framework, the authors also present a case study for Turkey.

Author : Patrick Honohan
Publisher : Unknown
Page : 30 pages
File Size : 47,5 Mb
Release : 2007
Category : Currency convertibility
ISBN : UCSD:31822034343509

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Dollarization and Exchange Rate Fluctuations by Patrick Honohan Pdf

"Although the worldwide growth in dollarization of bank deposits has recently slowed, it has already reached very high levels in dozens of countries. Building on earlier findings that allowed the main cross-country variations in the share of dollars to be explained in terms of national policies and institutions, this paper turns to analysis of short-run variations, particularly the response of dollarization to exchange rate changes, which is shown to be too small to warrant "fear of floating" by dollarized economies. But high dollarization is shown to increase the risk of depreciation and even suspension, as indicated by interest rate spreads. While specific policy is needed to deal with the risks associated with dollarization, the underlying causes of unwanted dollarization should also be tackled."

Author : Institute of Medicine,Board on Global Health,Forum on Microbial Threats
Publisher : National Academies Press
Page : 376 pages
File Size : 43,8 Mb
Release : 2004-04-26
Category : Medical
ISBN : 9780309182157

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Learning from SARS by Institute of Medicine,Board on Global Health,Forum on Microbial Threats Pdf

The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.

Author : OECD
Publisher : OECD Publishing
Page : 165 pages
File Size : 54,8 Mb
Release : 2000-01-20
Category : Electronic
ISBN : 9789264080287

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Purchasing Power Parities and Real Expenditures 1999 1996 Results by OECD Pdf

Provides purchasing power parities for 1996 for all 29 OECD Member countries, except Korea, and four non-member countries: Israel, Slovenia, the Slovak Republic and the Russian Federation. They are calculated using the EKS aggregation method.

Author : Anonim
Publisher : Unknown
Page : 80 pages
File Size : 52,9 Mb
Release : 2008
Category : International finance
ISBN : CORNELL:31924083391692

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International Finance Discussion Papers by Anonim Pdf

Author : Charles P. Thomas,Jaime Márquez,Sean Fahle
Publisher : Unknown
Page : 72 pages
File Size : 47,5 Mb
Release : 2008
Category : Exchange rate pass-through
ISBN : UCR:31210023233594

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Measuring U.S. International Relative Prices by Charles P. Thomas,Jaime Márquez,Sean Fahle Pdf

In this paper we construct a new measure of U.S. prices relative to those of its trading partners and use it to reexamine the behavior of U.S. net exports. Our measure differs from existing measures of the dollar's real effective exchange rate (REER) in that it explicitly incorporates both the difference in price levels between the United States and developing economies and the growing importance of these developing economies in world trade. Unlike existing REERs, our measure shows that relative U.S. prices have increased significantly over the past 15 years. In terms of simple correlations, the relationship between our measure of relative prices and U.S. net exports is much more coherent than that between existing REERs and net exports. To explore this relationship further, we use our measure to construct an index of foreign prices relevant for U.S. export volumes and reexamine several export equations. We find that export equations with the new index dominate those with previous measures in terms of in-sample fit, out-of-sample fit, and parameter constancy. In addition, we find that with the new index of foreign prices the estimated elasticity of U.S. exports with respect to foreign income is a good bit higher that the unitary elasticity found in previous studies using other price measures. This has implications for U.S. current account adjustment.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 19 pages
File Size : 42,6 Mb
Release : 2019-03-27
Category : Business & Economics
ISBN : 9781498305358

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Tax Expenditure Reporting and Its Use in Fiscal Management by International Monetary Fund. Fiscal Affairs Dept. Pdf

This note aims to inform governments on how to account for tax expenditures and use that information in fiscal management. The emphasis is on developing and emerging market economies, where the use of such accounts is in its infancy because of data constraints, insufficient human and financial resources, and weak fiscal institutions. Most developing economies, more-over, do not have tax policy units in their Ministry of Finance to provide analytical support to the govern¬ment and legislature that integrates all revenue policy aspects. As a result, the tax policy framework can be fragmented: line ministries compete in the provision of sectoral tax incentives, but do not report on their cost. The note is organized as follows. The second section outlines the role that tax expenditure measurement and reporting can play in fiscal management. The third section provides a step-by-step approach on how tax expenditure accounts can be built, with emphasis on data, methods and models, and institutional requirements. The section is concerned primarily with the direct cost of tax expenditures—that is, the revenue forgone because of them. It does not deal with their indirect costs, which could include economic efficiency losses and additional tax administration resources, and it does not address assessment of the benefits of tax expenditures. The fourth summarizes the current sta¬tus of tax expenditure reporting in developing econo¬mies, with some reference to advanced economies. The last section concludes.