This paper estimates the GDP gap in Venezuela by means of the structural VAR methodology and the Blanchard and Quah decomposition for the period 1999:1-2010:4. We use quarterly data for the inflation rate, real GDP, unemployment rate, and oil prices. We identify fiscal and monetary innovations...

Without national accounts statistics, citizens, politicians, entrepreneurs and economists would be blind for the size, composition and development of national economies. This book provides a unique overview of the merits and limitations of the national accounts. Attention is paid to the three...

In the paper model of macroeconomic turnover and its possibilities for investments modelling are shown. The model consists from four blocks: in the first the theoretical model is described. In the second the model is reflected in accordance with the requirements of system dynamics method, there...

This paper investigated the impact of Foreign Direct Investment on some selected macro-economic variables such as real GDP, gross fixed capital formation and unemployment. Data for the variables were sourced from the Central Bank of Nigeria’s Statistical Bulletin. For the assessment of this...

This paper employs a combination of unit root tests and fractional integration technique to test for rational bubbles in Bombay Stock Exchange (BSE). It is indicated in the paper that evidence of a unit root in dividend yield is consistent with presence of rational bubbles in the stock prices....

The paper discusses the influence of the global economic crisis on the Latvian economy. Using the system dynamics approach and models produced beforehand, various development scenarios of tax policy, householder crediting, and the job market are analyzed. Produced models allow to obtain...

The complex methodology used in financial portfolio management proves that H. Markowitz optimization approach is one of the most applied techniques on developed global financial markets. Financial information spreading and processing speed, real time access to information, the performance...

The paper attempts to analyse the relationship between economic growth and human development for 28 major Indian States during four time periods ranging over last two decades: 1983, 1993, 1999-00 and 2004-05. To construct Human Development Index for Indian States, we consider the National Human...

This study examines whether or not the convergence of per capita output—which is categorized as catching-up and long-run convergence, defined by Oxley and Greasley (1995)—exists within Asian newly industrializing economies (Asian NIEs), namely, Hong Kong, Singapore, South Korea, and Taiwan....

National accountants treat as consumption all expenditure incurred in purchasing consumer durables and in forming intangible assets such as knowledge, education and good health. The case is made in this paper that the national accounts measures of saving and investment understate both the extent...