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In this paper, I analyze the causes of the prolonged slowdown of the Japanese economy in the 1990s and find that the stagnation of investment, especially private fixed investment, was the primary culprit. I then investigate the causes of the stagnation of household consumption during the 1990s...
Persistent link: https://www.econbiz.de/10010332277
their models, while aggregate indicators such as GDP failed in spite (or perhaps because) of their heavy emphasis on … financially driven growth. In contrast to both critics and proponents of GDP who see it as a purely statistical measure, this … article argues that GDP is in fact a form of numerical rhetoric. Political messages in such estimates were explicit until the …
Persistent link: https://www.econbiz.de/10015190820
Gross domestic product (GDP) is the most widely used indicator from the system of national accounts. Although often …
Persistent link: https://www.econbiz.de/10015192771
When considering issues of measuring welfare beyond gross domestic product (GDP), a key ongoing, but unfinished, agenda … approximation of the value added by key public services, and thus their contribution to GDP. New data and intelligent use of …
Persistent link: https://www.econbiz.de/10015192780
The study of growth in African economies during the 20th Century is hampered by the lack of historical GDP estimates … accounts has not yet been assembled. This paper provides GDP estimates for some former British colonies between 1900 - 1950 …
Persistent link: https://www.econbiz.de/10012624399
Measurement errors in macroeconomic aggregates such as GDP have been widely lamented, particularly in low … micro-survey estimates, suggesting real rates of total GDP growth may have been overestimated by 1 percentage point over the …
Persistent link: https://www.econbiz.de/10015361295
One of the greatest challenges facing official statistics in the 21st century is the use of alternative sources of data about prices (scanned and scraped data) in the analysis of price dynamics, which also involves selecting the appropriate formula of the price index at the elementary group...
Persistent link: https://www.econbiz.de/10013444143
This paper examines the extent to which gains-from-trade predictions from commonly-used trade theories are consistent with observed household consumption decisions. Our approach is based on inference from household-level estimation of food Engel curves in the US and in a few other countries. For...
Persistent link: https://www.econbiz.de/10013470437
indices (CPI, core CPI, and GDP deflator) when modeling the effects of oil price increases. This distinction has important … targeting the change in the GDP deflator is an inferior monetary policy strategy in the presence of oil price shocks. …
Persistent link: https://www.econbiz.de/10010260484
This paper investigates the existence of market power and the sequentiality of games in the crude oil market. In particular, we examine whether Saudi Arabia acts as a Stackelberg leader or in a simultaneous-move framework, in a number of market power scenarios ranging from perfect competition to...
Persistent link: https://www.econbiz.de/10010270282