We compare samples of textiles and garments producers across groups of countries to find that, in general, productivity is far lower in Sub-Saharan Africa than it is in India. Indian manufacturers in turn are significantly less productive than their counterparts in Morocco, while producers in some SSA countries do match or exceed the Indian standard. The paper assesses the importance of geography as a possible factor in these gaps compared to such possible causes as trade policy and the quality of public institutions. It turns out that both institutions and trade policy are strong influences on country productivity averages. However, geography is also as powerful an influence in as far as it affects access to export markets and to input supplies.
...This is important because the Redding and Venables model we draw on as the c... cost of acquiring inputs or of exporting goods to international markets are lower than those of i... Supplier access measures the cost of intermediate inputs to producers. More precisely, it is the pro... at end of the fiscal year, and capital services, which we proxy by the end-ofyear value of fixed a... the main technological controls to be included in equations (13). We add to these establishment a...
Inflation has been slightly higher than projected. Measured by the consumer price index (CPI), inflation is now higher than 3%. A strong rise in prices for electricity and petrol has pushed up CPI inflation since autumn 2007. Inflation has increased in many countries. Oil and gas prices have risen further through spring. Capacity utilization in Norway is high. An ample supply of labor, strong productivity growth and considerable terms of trade gains through several years have boosted the growth potential of the Norwegian economy. Growth in the Norwegian economy seems to have slowed as expected in 2008 Q1. Enterprises in Norges Bank's regional network report high capacity utilization but moderating growth in most of the industries. Monetary policy in Norway is oriented towards annual con...
... in prices for many domestically produced goods and services is picking up, and the fall in prices... of oil may also be lower than otherwise because it is more profitable to postpone production and i... for US benchmark crude West Texas Intermediate can be used to derive market participants' view of... rise in the estimated energy price trend included in the CPIXE (see Chart 3.12). CPIXE inflation wil...
This final rule with comment period addresses changes to the physician fee schedule and other Medicare Part B payment policies to ensure that our payment systems are updated to reflect changes in medical practice and the relative value of services. It also addresses, implements or discusses certain statutory provisions including provisions of the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010 (collectively known as the Affordable Care Act) and the Medicare Improvements for Patients and Providers Act (MIPPA) of 2008. In addition, this final rule with comment period discusses payments for Part B drugs; Clinical Laboratory Fee Schedule: Signature on Requisition; Physician Quality Reporting System; the Electronic Prescribin...
...Because of staff and resource limitations, we cannot accep... business information that is included in a comment. We post all comments received before...ICF Intermediate Care Facilities. ICF International Classification ... reflect the relative costs of the mix of goods and services comprising practice expenses in the d...
Consumer price inflation remains moderate even though the cyclical upturn in the Norwegian economy is in a mature phase. Underlying inflation has been fairly stable and ranged between 1% and 1 1/2% over a longer period. Growth in the Norwegian economy has been strong. High income growth and high income expectations, combined with low interest rates, have led to brisk growth in demand in the business, household and public sectors. So far, there are few signs of a slowdown in the Norwegian economy. There are prospects that the strong expansion will be sustained for a longer period than previously envisaged. The growth outlook for the world economy remains favorable. Monetary policy cannot fine-tune developments in the economy, but must counter the effects of large disturbances to the econ...
... rise in prices for domestically produced goods and services in spite of rising wage growth. The r...Prices for intermediate goods, capital goods and some services are rising ... not being realised or are being postponed because of problems with deliveries and rising prices for ... of mandatory occupational pensions are included. With a projected rise in consumer prices of ¾%, ...
... a bit of the business of the Committee, because I know people are asking what is our intention wit... a higher value of the dollar, which makes goods and services produced in the U.S. less competitive... no way of quantifying the impact on intermediate term economic forecast of the United States' econo...CONRAD: That will be included. WHITEHOUSE: Thank you. Could you just talk a lit...
Growth in the Norwegian economy remains strong. Mainland GDP will expand by more than 4% for the fourth consecutive year and GDP growth forecasts for this year have been revised up again. Growth in the US economy has slackened. The US housing market has weakened and employment is rising at a slower pace than earlier this year. There are also signs of somewhat slower growth in western Europe. Economic growth in emerging economies remains strong, particularly in China. Monetary policy in Norway is oriented towards inflation of close to 2.5% over time. Low and stable inflation is the most important contribution monetary policy can make to sound economic developments in the long term. The aim of preventing inflation expectations from becoming entrenched well below target was one of the main...
...The rise in prices for many goods and services has picked up in recent months. Vario... from the krone exchange rate to inflation because the krone exchange rate has varied in recent years... survey, the shortage of labour and intermediate goods is now greater than during the expansion in ... persons on short-term assignments, not included in the population count in Norway, and new residen...
This article describes four concepts—solvency, sustainability, shortfalls, and solutions—as they apply to the financial status of the Social Security program as well as how Social Security financing fits in the general federal budget. The little-understood basis for future projected shortfalls is explained and detailed in relation to the possible solutions.
... Labor, the Secretary of Health and Human Services, and the Commissioner of Social Security, plus two...This meant that under the intermediate assumptions used in that report, representing the ...Because the ability of these programs to pay benefits is d...The 1977 amendments included a fundamental change in the indexation of benefits... as percentages of the total output of goods and services in the United States—our gross dome...
This article shows that business cycles have become more synchronized over the past 20 years. After identifying the dates of expansions and recessions for a group of 32 industrialized countries since 1960, Section I shows that business cycles have become more synchronized over the past 20 years. Section II describes how increased global trade in goods and financial products have contributed to the increase in business cycle synchronicity. It then shows that there is little evidence that financial linkages have affected the synchronization of business cycles internationally. However, trade does affect the synchronization of business cycles. Countries with high trade volume have more synchronized business cycles.
...Countries were included based on their size and the availability of data. ...The index does not reflect this event because there are few Asian countries in the sample. Howev... in globalization of trade in goods and services and the increase in international holdings of fina...When one country imports intermediate goods-that is, goods that will be used to produce ...
Former communist countries in Europe faced difficult choices over the past 15 years as they moved from centrally planned economies to market economies. The Hungarian transformation provides an interesting case for analysis because of its relative success. This analysis focuses on the Hungarian insurance sector as one part of Hungary's successful economic transition and integration from a centrally planned economy to a market economy. The transition of the Hungarian insurance market presents a thought-provoking case of revolutionary change from a bureaucratic monopoly with inefficient performance to a competitive, albeit oligopolistic, insurance market.
...On the contrary, a series of intermediate phases characterized the transformation pursued by... program, and a developed financial services industry have all encouraged private initiatives a... The lack of attention in providing consumer goods was also typical of this era. The overall goal app...The initial pool of candidates included bureaucrats from the communist period, emigrants w...
Every year, capital flows both out from (hereafter FDI) and into the US (hereafter FDIUS) to facilitate global trade liberalization. The purpose of this article is to examine the question of what proportion of the said fluctuations was caused by Federal Reserve interest rate policy actions or currency exchange rate variations by using a Taylor-type FDIUS optimal rule equation through a dynamic linear model. This study will also estimate changes in FDI caused by one percentage point change in interest rates or one index point change in exchange rates. On the importance of short-term interest rate versus exchange rate in directing FDIUS movement, the split is 28% for the real federal funds rate and 72% for the exchange rate, respectively. While recognizing the exchange rate exerts more in...
... total imports composed 45 percent of intermediate and unfinished goods used in the U.S. for final pr... as an alternative to the nominal rate, because, in economic modeling, only the real interest ratee is considered in the real goods and services market equilibrium. The Federal Reserve System rel...For each time series included in this study, the sample mean, sample variance, s...
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