Gdp Technical Change And The Measurement Of The Income

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Gdp Technical Change And The Measurement Of Net Income

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Author : Charles R. Hulten
language : en
Publisher:
Release Date : 2010

Gdp Technical Change And The Measurement Of Net Income written by Charles R. Hulten and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Economics categories.

Abstract: We show how technical change, measured as a shift in the GDP function, is combined with net income to track welfare change. This provides a bridge between the productivity literature and the welfare-related literature that tends to reason in terms of net product functions: although the relevant income measure is net of depreciation, productivity is measured based on gross output. We show that net product, net income, net expenditure and productivity change are complements, not substitutes. We also examine whether holding gains and losses should be part of depreciation and conclude that in a general equilibrium setting, either productivity change or holding gains should be part of an extended Weitzman-type net income measure, but not both

Gdp Technical Change And The Measurement Of The Income

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Author : Charles R. Hulten
language : en
Publisher:
Release Date : 2010

Gdp Technical Change And The Measurement Of The Income written by Charles R. Hulten and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

Replacing Gdp By 2030

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Author : Rutger Hoekstra
language : en
Publisher: Cambridge University Press
Release Date : 2019-05-30

Replacing Gdp By 2030 written by Rutger Hoekstra and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-30 with Business & Economics categories.

Proposes an new strategy for the beyond-GDP community which aims to replace the economic paradigm centred on Gross Domestic Product (GDP) by 2030.

Education Skills And Technical Change

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Author : Charles R. Hulten
language : en
Publisher: University of Chicago Press
Release Date : 2019-01-11

Education Skills And Technical Change written by Charles R. Hulten and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-11 with Business & Economics categories.

Over the past few decades, US business and industry have been transformed by the advances and redundancies produced by the knowledge economy. The workplace has changed, and much of the work differs from that performed by previous generations. Can human capital accumulation in the United States keep pace with the evolving demands placed on it, and how can the workforce of tomorrow acquire the skills and competencies that are most in demand? Education, Skills, and Technical Change explores various facets of these questions and provides an overview of educational attainment in the United States and the channels through which labor force skills and education affect GDP growth. Contributors to this volume focus on a range of educational and training institutions and bring new data to bear on how we understand the role of college and vocational education and the size and nature of the skills gap. This work links a range of research areas—such as growth accounting, skill development, higher education, and immigration—and also examines how well students are being prepared for the current and future world of work.

Beyond Gdp Measuring What Counts For Economic And Social Performance

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Author : Stiglitz Joseph E.
language : en
Publisher: OECD Publishing
Release Date : 2018-11-27

Beyond Gdp Measuring What Counts For Economic And Social Performance written by Stiglitz Joseph E. and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-27 with categories.

Metrics matter for policy and policy matters for well-being. In this report, the co-chairs of the OECD-hosted High Level Expert Group on the Measurement of Economic Performance and Social Progress, Joseph E. Stiglitz, Jean-Paul Fitoussi and Martine Durand, show how over-reliance on GDP as the ...

Inclusive Growth

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Author : Rahul Anand
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-30

Inclusive Growth written by Rahul Anand and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-30 with Business & Economics categories.

We estimate a unified measure of inclusive growth for emerging markets by integrating their economic growth performance and income distribution outcomes, using data over three decades. Country distributions are calibrated by combining PPP GDP per capita and income distribution from survey data. We apply the microeconomic concept of a social mobility function at the macroeconomic level to measure inclusive growth that is closer to the absolute definition of pro-poor growth. This dynamic measure permits us to focus on inequality as well as distinguish between countries where per capita income growth was the same for the top and the bottom of the income pyramid, by accounting for the pace of growth. Our results indicate that macroeconomic stability, human capital, and structural changes are foundations for achieving inclusive growth. The role of globalization could also be positive with foreign direct investment and trade openess fostering greater inclusiveness, while financial deepening and technological change have no discernible effect.

The Economic Growth Engine

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Author : Robert U. Ayres
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01

The Economic Growth Engine written by Robert U. Ayres and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.

It gives me great pleasure to review this important book. I recommend it highly to any physicist with an interest or curiosity about this economy thing within which we operate. . . There is no excuse not to get this invaluable volume onto your bookshelf. Simon Roberts, Institute of Physics Energy Group This book addresses a very important topic, namely economic growth analysis from the angle of energy and material flows. The treatment is well balanced in terms of research and interpretation of the broader literature. The book not only contains a variety of empirical indicators, statistical analyses and insights, but also offers an unusually complete and pluralistic view on theorizing about economic growth and technological change. This results in a number of refreshing perspectives on known ideas and literatures. The text is so attractively written that I found it very difficult to stop reading. All in all, this is a very original and important contribution to the everlasting debate on growth versus environment. Jeroen C.J.M. van den Bergh, University of Barcelona, Spain and Free University, Amsterdam, The Netherlands Would you want your great-grandchildren in 2100AD to have a 22nd-century industrial economy? If so, read this book to grasp how strongly wealth depends on energy and its efficient use. Start treating fossil energy not as continuing income, but as one-time energy capital to spend on efficiency and long-term sustainable energy production. Otherwise, your descendants will inherit a broken 20th-century economy that only worked with cheap fossil fuels. They will not be rich and they will wonder what their ancestors were thinking. John R. Mashey, PhD, former Chief Scientist, Silicon Graphics Current economic theory attributes most income growth to technical progress. However, since technical progress can neither be defined nor measured, no one really knows what policies will encourage income growth. Ayres and Warr show that access to useful work, which can be defined and measured, explain the bulk of post-1900 income changes in Japan, Britain and the USA. They see rising real prices for fossil fuel and stagnating efficiencies of converting raw energy into useful work as a threat to continued income growth. This brilliant and original work has profound policy implications for future income growth without significant improvements in energy conversion efficiency. Thomas Casten, Chairman, Recycled Energy Development LLC Following the up-and-down energy shock of 2008, Ayres and Warr offer a unique analysis critical to our economic future. They argue that useful work produced by energy and energy services is far more important to overall GDP growth than conventional economic theory assumes. Their new theory, based on extensive empirical and theoretical analysis, has important implications for economists, businessmen and policymakers for anybody concerned with our economic future. Ayres and Warr argue persuasively that economic growth is not only endogenous but has been driven for the past two centuries largely by the declining effective cost of energy. If their new theory is correct, the inevitable future rise of the real cost of energy (beyond the $147 oil price peak in July 2008), could halt economic growth in the US and other advanced countries unless we dramatically improve energy with technology. J. Paul Horne, independent international market economist The historic link between output (GDP) growth and employment has weakened. Since there is no quantitively verifiable economic theory to explain past growth, this unique book explores the fundamental relationship between thermodynamics (physical work) and economics. The authors take a realistic approach to explaining the relationship between technological progress, thermodynamic efficiency and economic growth. Their findings are a step toward the integration of neo-classical and evolutionary perspectives on endogenous economic growth, concluding in a fundam

The Growth Delusion

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Author : David Pilling
language : en
Publisher: Bloomsbury Publishing
Release Date : 2018-01-25

The Growth Delusion written by David Pilling and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-25 with Business & Economics categories.

SHORTLISTED FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2019 'A near miracle' Ha-Joon Chang, author of 23 Things They Don't Tell You About Capitalism According to the economy, we have never been wealthier or happier. So why doesn't it feel that way? The Growth Delusion explores how we prioritise growth maximisation without stopping to think about the costs. So much of what is important to our well-being, from safe streets to sound minds, lies outside the purview of statistics. In a book that is both thought-provoking and entertaining, David Pilling argues that our steadfast loyalty to growth is informing misguided policies, and proposes different criteria for measuring our success.

Gdp

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Author : Diane Coyle
language : en
Publisher: Princeton University Press
Release Date : 2015-09-22

Gdp written by Diane Coyle and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-22 with Business & Economics categories.

How GDP came to rule our lives—and why it needs to change Why did the size of the U.S. economy increase by 3 percent on one day in mid-2013—or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008—just as the world’s financial system went into meltdown? And why was Greece’s chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his country’s economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our lives—but that hardly anyone actually understands. Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. The reader learns why this standard measure of the size of a country’s economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods.

For Good Measure

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Author : Joseph E. Stiglitz
language : en
Publisher: The New Press
Release Date : 2019-11-19

For Good Measure written by Joseph E. Stiglitz and has been published by The New Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-19 with Political Science categories.

Today's leading economists weigh in with a new "dashboard" of metrics for measuring our economic and social health "What we measure affects what we do. If we focus only on material well-being—on, say, the production of goods, rather than on health, education, and the environment—we become distorted in the same way that these measures are distorted." —Joseph E. Stiglitz A consensus has emerged among key experts that our conventional economic measures are out of sync with how most people live their lives. GDP, they argue, is a poor and outmoded measure of our well-being. The global movement to move beyond GDP has attracted some of the world's leading economists, statisticians, and social thinkers who have worked collectively to articulate new approaches to measuring economic well-being and social progress. In the decade since the 2008 economic crisis, these experts have come together to determine what indicators can actually tell us about people's lives. In the first book of its kind, leading economists from around the world, including Thomas Piketty, Emmanuel Saez, Elizabeth Beasely, Jacob Hacker, François Bourguignon, Nora Lustig, Alan B. Krueger, and Joseph E. Stiglitz, describe a range of fascinating metrics—from economic insecurity and environmental sustainability to inequality of opportunity and levels of trust and resilience—that can be used to supplement the simplistic measure of gross domestic product, providing a far more nuanced and accurate account of societal health and well-being. This groundbreaking volume is sure to provide a major source of ideas and inspiration for one of the most important intellectual movements of our time.