Contrary to the views expressed by some commentators, the methodology adopted for measuring growth in gross value added in Indian manufacturing in India’s national accounts is quite reliable. There are no reasons to believe that there is a mismeasurement of the manufacturing sector’s gross...

This study examines the relationship between Financial Sector Development and Economic Growth in Ghana using time series data from 1980-2009. The study investigates empirically the impact of financial sector development on economic growth in Ghana using the Granger Causality Test, the Johansen...

Romania joined the European Union after many years of uneven efforts and uncertainty about the effective date of integration. In this paper we try to evaluate the economic situation of Romania at the moment of joining the European Union. We try to identify the main macroeconomic developments...

This paper develops a novel procedure for proxying economic activity with day-time satellite imagery across time periods and spatial units, for which reliable data on economic activity are otherwise not available. In developing this unique proxy, we apply machine-learning techniques to a...

The islands of Cyprus and Malta have been considered as similar economically to other South-Eastern European states, despite the lack of historical evidence to prove it. The paper uses recently complied primary sector output estimates for the interwar period (1921 – 1938) to evaluate that the...

It is well known that, in continuous time, the Cobb-Douglas function can be derived from the underlying, data governing, accounting identity under some reasonable assumptions (factor shares are constant, and the weighted growth of the labour input price and the capital input price is constant)....

Spanish Abstract: Este documento de la División de Análisis Macroeconómico realiza un análisis del impacto de las medidas de confinamiento implementadas desde marzo de 2020 para evitar una propagación masiva de la pandemia COVID-19 sobre el empleo en Colombia. Se realiza un análisis de la...

This paper develops a novel procedure for proxying economic activity with day-time satellite imagery across time periods and spatial units, for which reliable data on economic activity are otherwise not available. In developing this unique proxy, we apply machine-learning techniques to a...

We collect data on the size distribution of all U.S. corporate businesses for 100 years. We document that corporate concentration (e.g., asset share or sales share of the top 1%) has increased persistently over the past century. Rising concentration was stronger in manufacturing and mining...

Choice experiments show that individuals attribute significant value to digitally-enabled services such as social media. We integrate this consumer value into an accounting framework by treating it as the value of own-account production by households of a particular type of leisure services....