Productivity and the Welfare of Nations

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Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (786 download)

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Book Synopsis Productivity and the Welfare of Nations by : Susanto Basu

Download or read book Productivity and the Welfare of Nations written by Susanto Basu and published by . This book was released on 2012 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show how to relate the welfare of a country's infinitely-lived representative consumer to observable aggregate data. To a first order, welfare is summarized by total factor productivity and by the capital stock per capita. These variables suffice to calculate welfare changes within a country, as well as welfare differences across countries. The result holds regardless of the type of production technology and the degree of market competition. It applies to open economies as well, if total factor productivity is constructed using domestic absorption, instead of gross domestic product, as the measure of output. It also requires that total factor productivity be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need to be calculated using after-tax wages and rental rates and they will typically sum to less than one. These results are used to calculate welfare gaps and growth rates in a sample of developed countries with high-quality total factor productivity and capital data. Under realistic scenarios, the U.K. and Spain had the highest growth rates of welfare during the sample period 1985-2005, but the U.S. had the highest level of welfare.

Productivity and the Welfare of Nations

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (99 download)

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Book Synopsis Productivity and the Welfare of Nations by :

Download or read book Productivity and the Welfare of Nations written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Global Productivity

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Publisher : World Bank Publications
ISBN 13 : 1464816093
Total Pages : 552 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Productivity by : Alistair Dieppe

Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

The Welfare of Nations

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Publisher : Cato Institute
ISBN 13 : 193970992X
Total Pages : 472 pages
Book Rating : 4.9/5 (397 download)

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Book Synopsis The Welfare of Nations by : James Bartholomew

Download or read book The Welfare of Nations written by James Bartholomew and published by Cato Institute. This book was released on 2016-11-15 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: What damage is being done by failing welfare states? What lessons can be learned from the best welfare states? And—is it too late to stop welfare states from permanently diminishing the lives and liberties of people around the world? Traveling around the globe, James Bartholomew examines welfare models, searching for the best education, health care, and support services in 11 vastly different countries; illuminating the advantages and disadvantages of other nations' welfare states; and delving into crucial issues such as literacy, poverty, and inequality. This is a hard-hitting and provocative contribution to understanding how welfare states, as the defining form of government today, are changing the very nature of modern civilization.

The Poverty of Nations

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Publisher : Baltimore : Johns Hopkins University Press
ISBN 13 :
Total Pages : 408 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Poverty of Nations by : William W. Murdoch

Download or read book The Poverty of Nations written by William W. Murdoch and published by Baltimore : Johns Hopkins University Press. This book was released on 1980 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Productivity of Nations

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Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Productivity of Nations by : Robert Ernest Hall

Download or read book The Productivity of Nations written by Robert Ernest Hall and published by . This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Output per worker varies enormously across countries. Why? Our analysis shows that differences in governmental, cultural, and natural infrastructure are important sources of this variation. According to our results, a high-productivity country (i) has institutions that favor production over diversion, (ii) is open to international trade, (iii) has at least some private ownership, (iv) speaks an international language, and (v) is located in a temperate latitude far from the equator. A favorable infrastructure helps a country both by stimulating the accumulation of human and physical capital and by raising its total factor productivity.

The Power of Productivity

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Publisher : University of Chicago Press
ISBN 13 : 0226477002
Total Pages : 373 pages
Book Rating : 4.2/5 (264 download)

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Book Synopsis The Power of Productivity by : William W. Lewis

Download or read book The Power of Productivity written by William W. Lewis and published by University of Chicago Press. This book was released on 2005-09-01 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: The disparity between rich and poor countries is the most serious, intractable problem facing the world today. The chronic poverty of many nations affects more than the citizens and economies of those nations; it threatens global stability as the pressures of immigration become unsustainable and rogue nations seek power and influence through extreme political and terrorist acts. To address this tenacious poverty, a vast array of international institutions has pumped billions of dollars into these nations in recent decades, yet despite this infusion of capital and attention, roughly five billion of the world's six billion people continue to live in poor countries. What isn't working? And how can we fix it? The Power of Productivity provides powerful and controversial answers to these questions. William W. Lewis, the director emeritus of the McKinsey Global Institute, here draws on extensive microeconomic studies of thirteen nations over twelve years—conducted by the Institute itself—to counter virtually all prevailing wisdom about how best to ameliorate economic disparity. Lewis's research, which included studying everything from state-of-the-art auto makers to black-market street vendors and mom-and-pop stores, conclusively demonstrates that, contrary to popular belief, providing more capital to poor nations is not the best way to help them. Nor is improving levels of education, exchange-rate flexibility, or government solvency enough. Rather, the key to improving economic conditions in poor countries, argues Lewis, is increasing productivity through intense, fair competition and protecting consumer rights. As The Power of Productivity explains, this sweeping solution affects the economies of poor nations at all levels—from the viability of major industries to how the average consumer thinks about his or her purchases. Policies must be enacted in developing nations that reflect a consumer rather than a producer mindset and an attendant sense of consumer rights. Only one force, Lewis claims, can stand up to producer special privileges—consumer interests. The Institute's unprecedented research method and Lewis's years of experience with economic policy combine to make The Power of Productivity the most authoritative and compelling view of the global economy today, one that will inform political and economic debate throughout the world for years to come.

Have Productivity Levels Converged?

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Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (174 download)

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Book Synopsis Have Productivity Levels Converged? by : J. Bradford De Long

Download or read book Have Productivity Levels Converged? written by J. Bradford De Long and published by . This book was released on 1987 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists believe that because technology is a public good national productivity levels should "converge." William Baumol(1986) argues that the imprint of convergence can be seen over the past century if one focuses attention on relatively rich nations that had the social capability to take advantage of machine technology. Using Maddison's (1 982) data, he finds that the productivity levels of sixteen such nations have converged since 1870. But convergence in Baumol's sample is guaranteed by construction. Maddison's (1982) study is by design of nations that have successfully developed and today have high incomes -- that have converged. Baumol's data are thus contaminated by sample selection bias and tell us little about whether those nations have converged that were seen a century ago as having the social capability for rapid industrialization. Considering an unbiased sample of nations that appeared ex ante likely to converge, and correcting econometrically for inevitable errors in independent variables dated 1870, reveals that rates of growth since 1870 are not strongly related to levels of 1870 income. The forces making for "convergence" have been counterbalanced by forces making for "divergence" even for those nations which should have converged most easily. There is one factor does emerge as a good ex ante predictor of a nation's rate of growth since 1870: the dominant religion. Holding constant 1870 per capita income, nations that had Protestant religious establishments in 1870 have 1979 per capita incomes more than one-third higher than do nations that had Catholic establishments. Interpretation of this fact is very difficult, but it does suggest that Max Weber [I9051 (1958) may have something to teach us about the forces that have determined growth in the industrial West over the past century

Why Nations Fail

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Publisher : Currency
ISBN 13 : 0307719227
Total Pages : 546 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis Why Nations Fail by : Daron Acemoglu

Download or read book Why Nations Fail written by Daron Acemoglu and published by Currency. This book was released on 2013-09-17 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

The Breakup of Nations

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Breakup of Nations by : Patrick Bolton

Download or read book The Breakup of Nations written by Patrick Bolton and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model of the breakup or unification of nations. In each nation the decision to separate is taken by majority voting. A basic trade-off between the efficiency gains of unification and the costs in terms of loss of control on political decisions is highlighted. The model emphasizes political conflicts over redistribution policies. The main results of the paper are i) when income distributions vary across regions and the efficiency gains from unification are small, separation occurs in equilibrium; and ii) when all factors of production are perfectly mobile, all incentives for separation disappear.

Wealth and Welfare States

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Publisher : Oxford University Press
ISBN 13 : 019957930X
Total Pages : 265 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis Wealth and Welfare States by : Irwin Garfinkel

Download or read book Wealth and Welfare States written by Irwin Garfinkel and published by Oxford University Press. This book was released on 2010-01-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including education has profound consequences, undergirding the case for the productivity of welfare state programs and the explanation for why all rich nations have large welfare states, and identifying US welfare state leadership. From 1968 through 2006, the United States swung right politically and lost its lead in education and opportunity, failed to adopt universal health insurance and experienced the most rapid explosion of health care costs and economic inequality in the rich world. The American welfare state faces large challenges. Restoring its historical lead in education is the most important but requires investing large sums in education, beginning with universal pre-school and in complementary programs that aid children's development.

Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries

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Publisher : OUP Oxford
ISBN 13 : 0191529028
Total Pages : 678 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries by : Fritz W. Scharpf

Download or read book Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries written by Fritz W. Scharpf and published by OUP Oxford. This book was released on 2000-09-07 with total page 678 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this ground-breaking, two-volume study of the adjustment of advanced welfare states to international economic pressures, leading scholars detail the wide variety of responses in twelve countries. Rejecting any notion of convergence to some kind of neo-liberal orthodoxy, they find that most countries have remained true to the basic features of their postwar model as they have liberalized. Moreover, within different welfare- state constellations, while some countries are still struggling to adjust, others have reached a new sustainable equilibrium. Volume I presents comparative analyses of differences in countries' vulnerabilities and capabilities, the effectiveness of the policy responses, and the role of values and discourse in the politics of adjustment. Volume II presents in-depth analyses of the experiences of Australia, Austria, Belgium, Denmark, France, Germany, Italy, the Netherlands, New Zealand, Sweden, Switzerland, and the United Kingdom as well as special studies on the the participation of women in the labour market, early retirement, the liberalization of public services, and international tax competition.

New Developments in Productivity Analysis

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Publisher : University of Chicago Press
ISBN 13 : 0226360644
Total Pages : 648 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis New Developments in Productivity Analysis by : Charles R. Hulten

Download or read book New Developments in Productivity Analysis written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2007-11-01 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.

Family Productivity, Labor Supply, and Welfare in a Low-income Country

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Family Productivity, Labor Supply, and Welfare in a Low-income Country by : John L. Newman

Download or read book Family Productivity, Labor Supply, and Welfare in a Low-income Country written by John L. Newman and published by World Bank Publications. This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops an analytical approach to estimate family labor supply and consumption decisions appropriate for developing countries. The approach allows for an arbitrary number of family members, each of whom may or may not engage in multiple activities. The authors identify the marginal returns to work in self-employment without directly observing the marginal returns or estimating the enterprise's production function. The key feature of the approach is to work with underlying structural marginal return and marginal rate of substitution functions together with first order Kuhn-Tucker conditions. This model is used to analyze family consumption and labor supply decisions of rural landholding households in Peru. The authors estimate coefficients of the marginal rate of substitution of family consumption for individual family member's leisure and marginal returns to two activities - wage work and self-employed agriculture. Using the estimated coefficients of the structural model together with the budget constraint, they simulate the effects of increasing returns to wage work and self-employed agriculture on family consumption and hours of work in the two activities. Estimating the structural parameters of the marginal rate of substitution allows the authors to convert leisure to consumption units and to calculate the compensating and equivalent variation of the changes in returns.

Understanding Productivity

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Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Understanding Productivity by : John W. Kendrick

Download or read book Understanding Productivity written by John W. Kendrick and published by . This book was released on 1977 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the definition and measurement of productivity, with particular reference to the economy of the USA - directed to non- specialists, discusses trends by sector (incl. Developed country comparison), causal factors behind productivity advance, relations to production costs and prices, etc., And considers productivity policies to further advancement. Bibliography pp. 136 to 138.

The Work of Nations

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Publisher : Vintage
ISBN 13 : 0307772993
Total Pages : 354 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis The Work of Nations by : Robert B. Reich

Download or read book The Work of Nations written by Robert B. Reich and published by Vintage. This book was released on 2010-12-01 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no longer such a thing as an American economy, say Robert Reich at the beginning of this brilliant book. What does it mean to be a nation when money, goods, and services know no borders? What skills will be the most valuable in the coming century? And how can our country best ensure that all its citizen have a share in the new global economy? Robert B. Reich, the widely respected and bestselling author of The Next American Frontier and The Resurgent Liberal, defines the real challenge facing the United States in the 21st century in this trail-blazing book. Original, readable, and vastly informed, The Work of Nations is certain to set a standard for the next generation of policy-makers.

The Productivity of Nations

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (124 download)

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Book Synopsis The Productivity of Nations by :

Download or read book The Productivity of Nations written by and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: