Showing 1 - 10 of 302
China's investment rate is one of the highest in the world, which naturally leads one to suspect that the return to capital in China must be quite low. Using the data from China's national accounts, we estimate the rate of return to capital in China. We find that the aggregate rate of return to...
Persistent link: https://www.econbiz.de/10005084802
Purchasing power parity exchange rates, or PPPs, are price indexes that summarize prices in each country relative to a numeraire country, typically the United States. These numbers are used to compare living standards across countries, by academics in studies of economic growth, particularly...
Persistent link: https://www.econbiz.de/10011268048
Although a large literature seeks to explain the "missing middle" of mid-sized firms in developing countries, there is surprisingly little empirical backing for existence of the missing middle. Using microdata on the full distribution of both formal and informal sector manufacturing firms in...
Persistent link: https://www.econbiz.de/10010951306
Long-term data for 30 countries up to 2006 reveal 232 stock-market crashes (multi-year real returns of -25% or less) and 100 depressions (multi-year macroeconomic declines of 10% or more), with 71 of the cases matched by timing. The United States has two of the matched events--the Great...
Persistent link: https://www.econbiz.de/10005720377
We build on the Maddison GDP data to assemble international time series from before 1914 on real per capita personal … consumer expenditure, C. We also improve the GDP data in many cases. The C variable comes closer than GDP to the consumption …-durables is feasible for only a minority of cases.) We have essentially full annual data on C for 22 countries and GDP for 35 …
Persistent link: https://www.econbiz.de/10005830221
GDP growth is often measured poorly for countries and rarely measured at all for cities or subnational regions. We … propose a readily available proxy: satellite data on lights at night. We develop a statistical framework that uses lights … accounts data, information on growth of lights is of marginal value in estimating the true growth rate of income, while for …
Persistent link: https://www.econbiz.de/10005087493
We show how technical change, measured as a shift in the GDP function, is combined with net income to track welfare …
Persistent link: https://www.econbiz.de/10008631070
The welfare gain to consumers from the introduction of personal computers is estimated here. A simple model of consumer demand is formulated that uses a slightly modified version of standard preferences. The modification permits marginal utility, and hence total utility, to be finite when the...
Persistent link: https://www.econbiz.de/10004991260
(measures of nighttime lights) as a proxy for standard measures of output. The paper compares output and luminosity at the …
Persistent link: https://www.econbiz.de/10008533392
Incomes per capita have grown dramatically over the past two centuries, but the increase has been unevenly spread across time and across the world. Growth accounting is the principal quantitative tool for understanding this phenomenon, and for assessing the prospects for further increases in...
Persistent link: https://www.econbiz.de/10005027086