The forecast of world economic growth plays a key role in the conduct of Canadian monetary policy. In this context, the authors study the usefulness of the monthly Purchasing Managers’ Indexes (PMIs) in predicting short-term real GDP growth in the euro area, Japan, the United Kingdom, and...

What are the prospects for economic growth in the United States and other advanced countries over the next several decades? U.S. growth for the past 150 years has been surprisingly stable at 2% per year. Growth theory reveals that in the long run, growth in living standards is determined by...

Global growth will receive a boost from lower oil prices, which reflect to an important extent higher supply. But this boost is projected to be more than offset by negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many...

L’évolution de la croissance de l’économie mondiale joue un rôle crucial dans la conduite de la politique monétaire canadienne. À cet égard, les auteurs étudient l’utilité des indices mensuels des directeurs d’achats (PMI) pour la prévision de la croissance du PIB réel à court...

Technischer Fortschritt und Humankapital sind die Triebfedern des langfristigen globalen Wachstums. Welche Rolle spielen sie im Rahmen der internationalen Arbeitsteilung? Wie wirkt sich die erwartete demographische Schrumpfung in den Industrieländern auf die Entwicklung des Humankapitals aus?...

Recent econometric analyses of growth in industrialized countries reveal that energy?s elasticity of production systematically exceeds its factor cost share, whereas for labor the opposite holds. The paper reviews these analyses that reflect the observed direction of technological change towards...

This paper explores the interrelations between economic growth, international trade and environmental degradation both theoretically and empirically. Panel data from developed and developing countries for the period of 1980 to 2003 is used and previous critique, especially on the econometric...