According to the New York Times,“many economists say the country's real economic growth rate is, at most, half of that reported” (Smith, 2001). What is going on? I believe that, beginning with 1998, standard GDP data contain exaggerations that extend far beyond the technical difficulties...
What’s Happening to China’s GDP Statistics? During a May 2001 conversation with several Chinese economists in Beijing, I expressed doubt that China’s recent GDP statistics reflect actual economic performance. Without missing a beat, a Chinese colleague said, “Nobody believes recent GDP statistic...
What is happening to China’s GDP statistics? Thomas G. RAWSKI* Department of Economics, University of Pittsburgh, Pittsburgh, PA 15260, USA Abstract This paper argues that official Chinese statistics contain major exaggerations of real output growth beginning in 1998. The standard data contain numer...
is slow with a drop in GDP, and Europe with a wavering sovereign debt. China and Mexico experience job growth and an increase industrial production. The transport equipment and machinery in Mexico is also bouncing back. Manufacturing is slow and foreign capital inflows to emerging market are ...
4 It is a good habit to make certain that you know what is happening with your blood pressure. (keep track of) 5 The monitoring system sends out warnings as soon as the car begins to leak oil. (the instant) 4 Add more elements in the mind map to build up your vocabulary. 1 Look...
A third issue to consider is that it is now declared that all the lost jobs in the pandemic have been regained. That’s fine. But its snapback, not real growth. And its far below trend line given GDP. You don’t need to consult FRED to know whats really happening. Just leave your...
What is happening right now in our financial markets that might lead to another financial crisis (2017)? What is the underwriting spread? What is the effect of a country lowering its external debt? What was the impact of the near failure of Bear Stearns and the failure of Lehman Brothers ...
What is the importance of the business cycle in macroeconomics? Describe the phases of the business cycle. Explain what is happening to GDP and unemployment at each phase of the cycle. What are differences between Keynesian and Neoclassical economic theory, in explaining business cycles? What ...
Even before ISIS made daily headlines, the horrors of what’s been happening in Syria was enough to get the world’s attention. With large numbers of civilians dying, with the alleged use of chemical weapons, with neighboring countries like Turkey and Jordan finding themselves swarmed by refugee...
One of the main problems with the output gap is that it is hard to measure. The level of actual output is easy to determine because we know what's happening. But potential output isn't that easy to calculate because we can't determine it. The latter is a figure that can only be pre...