The fuel shortage in Malawi has been heavily debated in both 2011 and 2012 and attracted international attention. Various stakeholders have tried to provide solutions for the problem. This paper strives to set out solutions which can be adopted to solve or partially solve the problems. The paper starts with looking at the current statistics on the fuel importation in respect of Import Bill and how Malawi Regulatory Authority could assist in the importation of petroleum products in Malawi. Second part looks at the current implications of the fuel scarcity in Malawi and finally various ways in which Malawi through various quarters could save Foreign Exchange Currency. The paper does not specifically look at how Malawi can generate more forex to pay its import bills but rather how the country can optimally manage its limited resources. The recommendations emanating from the research paper is that Malawi should optimally utilise the little Foreign Exchange Currency generated in the economy to cater to guarantee availability of petroleum products as well as inorganic fertilisers and basic necessities not available locally such as drugs and medicines.In conclusion, Malawi could adopt radical and contemporary measures to address the Foreign Exchange Currency problems which are likely to shake the current business and political philosophies.
{"title":"Resolving Fuel Shortage in Malawi","authors":"B. Kampanje","doi":"10.2139/SSRN.2038110","DOIUrl":"https://doi.org/10.2139/SSRN.2038110","url":null,"abstract":"The fuel shortage in Malawi has been heavily debated in both 2011 and 2012 and attracted international attention. Various stakeholders have tried to provide solutions for the problem. This paper strives to set out solutions which can be adopted to solve or partially solve the problems. The paper starts with looking at the current statistics on the fuel importation in respect of Import Bill and how Malawi Regulatory Authority could assist in the importation of petroleum products in Malawi. Second part looks at the current implications of the fuel scarcity in Malawi and finally various ways in which Malawi through various quarters could save Foreign Exchange Currency. The paper does not specifically look at how Malawi can generate more forex to pay its import bills but rather how the country can optimally manage its limited resources. The recommendations emanating from the research paper is that Malawi should optimally utilise the little Foreign Exchange Currency generated in the economy to cater to guarantee availability of petroleum products as well as inorganic fertilisers and basic necessities not available locally such as drugs and medicines.In conclusion, Malawi could adopt radical and contemporary measures to address the Foreign Exchange Currency problems which are likely to shake the current business and political philosophies.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"52 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89135791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Results of assessments of total labor factor productivity TFP showed improvements where it recorded higher rate of 73.5% compared to previous periods. However, that was related with constant rate of returns as compared with variable rate of return. When technical efficiency was compared with technical change under the conditions of variable rate of return the average change in technical efficiency increased to 93.2% whereas technical change increased to 75.9%. The comparison during the period 1987-1992 of technical change and technical efficiency that recorded 86.2% and 113.1%, consecutively, there were decreases during the years 1993-1999 for technical change and technical efficiency of 67.1 and 76.1%, consecutively. The results reveal decreasing improvements over time, which were gained in previously assessed time periods.
{"title":"Analysis of Productivity Parameters of Qatar by Using Stochastic Frontier Production Function","authors":"Issam A.W. Mohamed","doi":"10.2139/ssrn.2007958","DOIUrl":"https://doi.org/10.2139/ssrn.2007958","url":null,"abstract":"Results of assessments of total labor factor productivity TFP showed improvements where it recorded higher rate of 73.5% compared to previous periods. However, that was related with constant rate of returns as compared with variable rate of return. When technical efficiency was compared with technical change under the conditions of variable rate of return the average change in technical efficiency increased to 93.2% whereas technical change increased to 75.9%. The comparison during the period 1987-1992 of technical change and technical efficiency that recorded 86.2% and 113.1%, consecutively, there were decreases during the years 1993-1999 for technical change and technical efficiency of 67.1 and 76.1%, consecutively. The results reveal decreasing improvements over time, which were gained in previously assessed time periods.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74235274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The national accounts appear to be saying that the NMWs are worth nothing; but, in reality, the NMWs increase the value of purchased goods and services and contribute to the formation and development of human resources. Abdel, et al. (1969), Chadeau, (1992), Hamdad, (2003), Charmes, (2006) put their effort to evaluate the NMWs for their respective countries by introducing satellite account and finally comparing with the national account. Although the processes of evaluation of the NMWs are difficult task, here two methods, such as works method and opportunity cost method, have been incorporated to evaluate the NMWs in Bangladesh. To know individual worth to producing NMWs and to discover the method of estimation of the NMWs, this study presents the idea of our economy which is always undermined by the conventional market framework. This study is principally based on primary data and case studies. To know the contribution of different groups of people who produce NMWs, this research concentrates on aggregate output of the value of NMWs. This study find that earning member, total hours of NMWs, estimated total support and employment status were the significant determinant to evaluate the aggregate value of NMWs. Two models were considered based on two methods of estimation. Both of the models signify the said independent variables. By taking rational figures (available information on field research) against the independent variables, this research uncover that tk.2,714 person/per month and tk. 2,317 person/month were produced by works method and opportunity cost method respectively.
{"title":"Individual Worth vs. Aggregate Value: Influential Factors of Non-Market Works (NMWS) in Bangladesh","authors":"Md. Aoulad Hosen","doi":"10.2139/ssrn.2174748","DOIUrl":"https://doi.org/10.2139/ssrn.2174748","url":null,"abstract":"The national accounts appear to be saying that the NMWs are worth nothing; but, in reality, the NMWs increase the value of purchased goods and services and contribute to the formation and development of human resources. Abdel, et al. (1969), Chadeau, (1992), Hamdad, (2003), Charmes, (2006) put their effort to evaluate the NMWs for their respective countries by introducing satellite account and finally comparing with the national account. Although the processes of evaluation of the NMWs are difficult task, here two methods, such as works method and opportunity cost method, have been incorporated to evaluate the NMWs in Bangladesh. To know individual worth to producing NMWs and to discover the method of estimation of the NMWs, this study presents the idea of our economy which is always undermined by the conventional market framework. This study is principally based on primary data and case studies. To know the contribution of different groups of people who produce NMWs, this research concentrates on aggregate output of the value of NMWs. This study find that earning member, total hours of NMWs, estimated total support and employment status were the significant determinant to evaluate the aggregate value of NMWs. Two models were considered based on two methods of estimation. Both of the models signify the said independent variables. By taking rational figures (available information on field research) against the independent variables, this research uncover that tk.2,714 person/per month and tk. 2,317 person/month were produced by works method and opportunity cost method respectively.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75925200","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-12-01DOI: 10.1111/j.1467-6281.2011.00348.x
D. Heald, George Georgiou
The U.K. Whole of Government Account (WGA) has been conceived by the Treasury as having a macro-fiscal role. This WGA is about fiscal transparency at the aggregate level, rather than at a more disaggregated level with regard to public sector decision makers at tiers of government, each with their own chain of accountability. This paper analyses the U.K. conception of the WGA, examining its theoretical background and evolution since the 1995 decision to convert central government accounting from cash to accruals. The definition of the area of consolidation is governed by statute, the declared intention being to align as far as possible with the national accounts definitions that provide the basis for fiscal aggregates, thereby overriding IAS 27. Net liabilities per WGA is mapped in this paper to macro-fiscal aggregates, including public sector net debt (the U.K. preferred measure), general government gross debt (the EU preferred measure) and public sector net worth (national accounts). Conceptually, the WGA measure is situated between net debt (against which only liquid assets are netted) and the long-term cash projections developed by the Treasury. Insights are provided into the damage inflicted on U.K. public finances by a period of over-optimism about fiscal performance and the economy's heavy exposure to the global financial crisis. Fiscal retrenchment in all countries can have a substantial illusory component, as proposals may reduce some measures of deficit and debt at the expense of the public sector balance sheet, to which the WGA draws attention. These measures may include: privatizing state assets; neglecting existing public sector assets; cutting public sector capital expenditure; substituting public–private partnerships for conventional procurement; and posting bills to the future. The U.K. WGA may also institutionalize some protection against accounting arbitrage that distorts policy choices and fiscal reporting. Well-documented reconciliations between figures derived from national accounts and from IFRS-based financial reporting are therefore imperative for fiscal transparency.
{"title":"The Macro‐Fiscal Role of the U.K. Whole of Government Account","authors":"D. Heald, George Georgiou","doi":"10.1111/j.1467-6281.2011.00348.x","DOIUrl":"https://doi.org/10.1111/j.1467-6281.2011.00348.x","url":null,"abstract":"The U.K. Whole of Government Account (WGA) has been conceived by the Treasury as having a macro-fiscal role. This WGA is about fiscal transparency at the aggregate level, rather than at a more disaggregated level with regard to public sector decision makers at tiers of government, each with their own chain of accountability. This paper analyses the U.K. conception of the WGA, examining its theoretical background and evolution since the 1995 decision to convert central government accounting from cash to accruals. The definition of the area of consolidation is governed by statute, the declared intention being to align as far as possible with the national accounts definitions that provide the basis for fiscal aggregates, thereby overriding IAS 27. Net liabilities per WGA is mapped in this paper to macro-fiscal aggregates, including public sector net debt (the U.K. preferred measure), general government gross debt (the EU preferred measure) and public sector net worth (national accounts). Conceptually, the WGA measure is situated between net debt (against which only liquid assets are netted) and the long-term cash projections developed by the Treasury. Insights are provided into the damage inflicted on U.K. public finances by a period of over-optimism about fiscal performance and the economy's heavy exposure to the global financial crisis. Fiscal retrenchment in all countries can have a substantial illusory component, as proposals may reduce some measures of deficit and debt at the expense of the public sector balance sheet, to which the WGA draws attention. These measures may include: privatizing state assets; neglecting existing public sector assets; cutting public sector capital expenditure; substituting public–private partnerships for conventional procurement; and posting bills to the future. The U.K. WGA may also institutionalize some protection against accounting arbitrage that distorts policy choices and fiscal reporting. Well-documented reconciliations between figures derived from national accounts and from IFRS-based financial reporting are therefore imperative for fiscal transparency.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88226979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper exploits the dual accounting technique to uncover multi-factor productivity growth patterns for goods and services across US states from 1980 to 2007. Due to changes in sectoral classifications, the period is divided into two parts, 1980-1997 and 1998-2007. Over both periods, states exhibit a wide range of productivity growth rates with the goods sector showing much larger variations. The variations are larger for the second time period with some states recording productivity growth as high as almost nine percent annually while other states showing declines at more than two percent. Underlying the wide variation in productivity growth are variations in both wage growth and real user cost growth. Since 1998, the real user cost declines at almost two per cent annually. Incorporating human capital into the analysis makes wage growth and, hence, productivity growth lower in both sectors, and on average negative in the second period. Scaling up the analysis to the national level, we also find that there are large differences between the growth rates of primal based measures of marginal product of capital and our calculations of real user cost growth. This can only be partially explained by the anomalous behavior of particular industries such as mining and real estate services, and to some degree due to the declining relative price of investment goods.
{"title":"Productivity Growth in Goods and Services Across US States: What Can We Learn from Factor Prices?","authors":"A. Chanda, Bibhudutta Panda","doi":"10.2139/ssrn.1989059","DOIUrl":"https://doi.org/10.2139/ssrn.1989059","url":null,"abstract":"This paper exploits the dual accounting technique to uncover multi-factor productivity growth patterns for goods and services across US states from 1980 to 2007. Due to changes in sectoral classifications, the period is divided into two parts, 1980-1997 and 1998-2007. Over both periods, states exhibit a wide range of productivity growth rates with the goods sector showing much larger variations. The variations are larger for the second time period with some states recording productivity growth as high as almost nine percent annually while other states showing declines at more than two percent. Underlying the wide variation in productivity growth are variations in both wage growth and real user cost growth. Since 1998, the real user cost declines at almost two per cent annually. Incorporating human capital into the analysis makes wage growth and, hence, productivity growth lower in both sectors, and on average negative in the second period. Scaling up the analysis to the national level, we also find that there are large differences between the growth rates of primal based measures of marginal product of capital and our calculations of real user cost growth. This can only be partially explained by the anomalous behavior of particular industries such as mining and real estate services, and to some degree due to the declining relative price of investment goods.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89962404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study proposes that heterogeneous household portfolio choices within a country and across countries offer an explanation for global imbalances. We construct a stochastic growth multi-country model in which heterogeneous agents face the following restrictions on asset trade. First, the degree of US equity market participation is higher than that of the rest of the world. Second, a fraction of households in each country maintains a fixed share of equity in its portfolios. In our calibrated model, which matches the US net foreign asset position and the equity premium, the average US household loads up more aggregate risk than the average foreign household by investing in risky assets abroad and issuing risk-free assets. As a result, the US is compensated by a high risk premium and runs trade deficits even as a debtor country. The long-run average trade deficit in our model accounts for 50% of the observed US trade deficit.
{"title":"The Risk Premium and Long-Run Global Imbalances","authors":"YiLi Chien, Kanda Naknoi","doi":"10.2139/ssrn.2038582","DOIUrl":"https://doi.org/10.2139/ssrn.2038582","url":null,"abstract":"This study proposes that heterogeneous household portfolio choices within a country and across countries offer an explanation for global imbalances. We construct a stochastic growth multi-country model in which heterogeneous agents face the following restrictions on asset trade. First, the degree of US equity market participation is higher than that of the rest of the world. Second, a fraction of households in each country maintains a fixed share of equity in its portfolios. In our calibrated model, which matches the US net foreign asset position and the equity premium, the average US household loads up more aggregate risk than the average foreign household by investing in risky assets abroad and issuing risk-free assets. As a result, the US is compensated by a high risk premium and runs trade deficits even as a debtor country. The long-run average trade deficit in our model accounts for 50% of the observed US trade deficit.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84594526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The official national accounts statistics do not show the role of human capital in the national economy. A set of satellite tables supplementing the standard national accounts statistics could serve this data need. In this satellite account, expenditure on education and training are recorded as human capital formation. This includes not only the expenditure on primary, secondary and tertiary education, but also expenditure on training and courses by employers and the earnings foregone by students. Consumption of human capital is allocated to various persons and industries as a charge on their income; it is not part of final consumption expenditure. The satellite shows more comprehensively than OECD Education at a Glance who pays for human capital formation. It also shows how education and training are employed in the national economy. In line with calculations of private and social rates of return, taxes and subsides on labour income and the relative prices of various types of labour (high-skilled, medium-skilled, low-skilled) are also shown. Links could be made with labour accounts broken-down by level of education, productivity and growth accounts and tables on expenditure by function of government, households and corporations. A simple decomposition analysis can show the role of demography and participation rates in the development of public expenditure on education. The satellite could be regarded as a macroeconomic framework supplementing the OECD-statistic Education at a Glance.
{"title":"A National Accounts Satellite for Human Capital and Education","authors":"F. Bos","doi":"10.2139/ssrn.1935369","DOIUrl":"https://doi.org/10.2139/ssrn.1935369","url":null,"abstract":"The official national accounts statistics do not show the role of human capital in the national economy. A set of satellite tables supplementing the standard national accounts statistics could serve this data need. In this satellite account, expenditure on education and training are recorded as human capital formation. This includes not only the expenditure on primary, secondary and tertiary education, but also expenditure on training and courses by employers and the earnings foregone by students. Consumption of human capital is allocated to various persons and industries as a charge on their income; it is not part of final consumption expenditure. The satellite shows more comprehensively than OECD Education at a Glance who pays for human capital formation. It also shows how education and training are employed in the national economy. In line with calculations of private and social rates of return, taxes and subsides on labour income and the relative prices of various types of labour (high-skilled, medium-skilled, low-skilled) are also shown. Links could be made with labour accounts broken-down by level of education, productivity and growth accounts and tables on expenditure by function of government, households and corporations. A simple decomposition analysis can show the role of demography and participation rates in the development of public expenditure on education. The satellite could be regarded as a macroeconomic framework supplementing the OECD-statistic Education at a Glance.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"113 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83406980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study develops an economic indicator tailored to measure economic conditions at the state level by recognizing a state's economy is an integrated part of the region and responds to both regional and national economic outlooks. This paper applies our methodology to the state of Rhode Island. In the case of Rhode Island, the addition of a regional economic indicator appears to make a significant improvement over the the Philadelphia FED Coincident Index. Moreover, the robustness analysis above shows that economic indicator developed to tracks the business cycles in Rhode Island perform quite well and that the indicator is robust to various identification schemes. Therefore, we believe this preliminary study indicates that it is worthwhile to expand this project to include all fifty states.
{"title":"Toward a Better Measure of Real Time Economic Conditions: An Application of the Stock/Watson Methodology to the Case of Rhode Island","authors":"Edinaldo Tebaldi, L. Kelly","doi":"10.2139/ssrn.1896335","DOIUrl":"https://doi.org/10.2139/ssrn.1896335","url":null,"abstract":"This study develops an economic indicator tailored to measure economic conditions at the state level by recognizing a state's economy is an integrated part of the region and responds to both regional and national economic outlooks. This paper applies our methodology to the state of Rhode Island. In the case of Rhode Island, the addition of a regional economic indicator appears to make a significant improvement over the the Philadelphia FED Coincident Index. Moreover, the robustness analysis above shows that economic indicator developed to tracks the business cycles in Rhode Island perform quite well and that the indicator is robust to various identification schemes. Therefore, we believe this preliminary study indicates that it is worthwhile to expand this project to include all fifty states.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80216002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers´ earnings and on physical capital due to schooling´s spillover effect on the productivity of these other factors of production. This paper reviews the estimates of the income elasticity of these three effects in the literature and finds that the evidence supports an elasticity of 0.34. The associated marginal rates of return on national investment in schooling in 2000 are found to average about 12 percent in countries with high levels of schooling and about 25 percent in countries with low levels of schooling.
{"title":"Does Investment in Schooling Raise National Income? Evidence from Cross-Country Studies","authors":"T. Breton","doi":"10.2139/ssrn.1862924","DOIUrl":"https://doi.org/10.2139/ssrn.1862924","url":null,"abstract":"The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers´ earnings and on physical capital due to schooling´s spillover effect on the productivity of these other factors of production. This paper reviews the estimates of the income elasticity of these three effects in the literature and finds that the evidence supports an elasticity of 0.34. The associated marginal rates of return on national investment in schooling in 2000 are found to average about 12 percent in countries with high levels of schooling and about 25 percent in countries with low levels of schooling.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"102 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74147224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We propose an alternative measure to compare the sizes of the Chinese and American economy. The relevant exchange rate to compare both economies is the value of money in the Unites States divided by the value of money in China, taking into consideration the relationship between hours of labor.
{"title":"What is the Size of the Chinese Economy?","authors":"L. C. Basso","doi":"10.2139/SSRN.1798744","DOIUrl":"https://doi.org/10.2139/SSRN.1798744","url":null,"abstract":"We propose an alternative measure to compare the sizes of the Chinese and American economy. The relevant exchange rate to compare both economies is the value of money in the Unites States divided by the value of money in China, taking into consideration the relationship between hours of labor.","PeriodicalId":18164,"journal":{"name":"Macroeconomics: National Income & Product Accounts eJournal","volume":"109 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82469772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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