The financial crisis has highlighted the need for models that can identify counterparty risk exposures and shock transmission processes at the systemic level. We use the euro area financial accounts (flow of funds) data to construct a sector-level network of bilateral balance sheet exposures and...

Innovation systems are complex systems that can exhibit scaling and emergent properties. Predictable and measurable scaling correlations exist between measures commonly used to characterize innovation systems and national economies. This paper examines scaling relationships between GERD & GDP...

The estimation of potential output gap is useful for the identification of a sustainable growth rate without inflationary pressures. In order to derive the potential output decomposition statistical methods and structural relationships estimation methods are used. The former tries to separate a...

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 concept that enters into usual asset-pricing...

In this paper, the relevance of national accounts statistics and their underlying conceptual framework is investigated for their four roles: description and object of analysis, tool for analysis and forecasting, tool for communication and decision-making and input for alternative accounts...

This paper describes the structure and construction of a social accounting matrix (SAM) for Pakistan for 2001-02. A SAM is an internally consistent extended set of national accounts that disaggregates value-added in each production activity into payments to various factors (e.g., land, labour,...

Roefie Hueting (1929), recently turned 78 years of age, has been working on the subject of economics and the environment since around 1965. Seminal results are his notion of environmental functions (WWF, 1969), his Ph.D. thesis “New Scarcity and Economic Growth. More welfare through less...

This note lays out a roadmap to Datapedia: the goal is to share numbers with the same power and ease that the Wiki has delivered for documents. This would transform the quality and usability of economic data. The goal is a system which, by analogy with Wikipedia can establish a world resource...

A microeconomic model is developed, which accurately predicts the shape of personal income distribution (PID) in the United States and the evolution of the shape over time. The underlying concept is borrowed from geo-mechanics and thus can be considered as mechanics of income distribution. The...

The Meade and Stone approach to national accounting (first published for the UK in 1941) eventually provided the template for the United System of National Accounts. Feinstein’s historical national accounts for the UK developed out of this project and built on its earlier contributions. He was...