The fading American dream Chetty, Raj; Grusky, David; Hell, Maximilian ...
Science (American Association for the Advancement of Science),
04/2017, Letnik:
356, Številka:
6336
Journal Article
Recenzirano
Odprti dostop
We estimated rates of “absolute income mobility”—the fraction of children who earn more than their parents—by combining data from U.S. Census and Current Population Survey cross sections with panel ...data from de-identified tax records. We found that rates of absolute mobility have fallen from approximately 90% for children born in 1940 to 50% for children born in the 1980s. Increasing Gross Domestic Product (GDP) growth rates alone cannot restore absolute mobility to the rates experienced by children born in the 1940s. However, distributing current GDP growth more equally across income groups as in the 1940 birth cohort would reverse more than 70% of the decline in mobility. These results imply that reviving the “American dream” of high rates of absolute mobility would require economic growth that is shared more broadly across the income distribution.
The main objective of this research study is to investigate the impact of “Economic Value of introducing technology in Pakistan” as the technology is considered as the engine of growth. For this ...purpose, we used data for the period from 1985 to 2018. Different statistical techniques such as ADF Test, ARDL and Error Correction Models were used to determine long run relationship between GDP (Which was dependent variable) and large manufacturing sector, labour force, health, education and exports, which were independent variables). The findings reveal that all independent variables have positive and significant relationship with GDP. So the development of R&D and adoption of latest technologies are urgent need for fast GDP growth and expansion in its size.
Abstract
Extreme heat undermines the working capacity of individuals, resulting in lower productivity, and thus economic output. Here we analyse the present and future economic damages due to reduced ...labour productivity caused by extreme heat in Europe. For the analysis of current impacts, we focused on heatwaves occurring in four recent anomalously hot years (2003, 2010, 2015, and 2018) and compared our findings to the historical period 1981–2010. In the selected years, the total estimated damages attributed to heatwaves amounted to 0.3–0.5% of European gross domestic product (GDP). However, the identified losses were largely heterogeneous across space, consistently showing GDP impacts beyond 1% in more vulnerable regions. Future projections indicate that by 2060 impacts might increase in Europe by a factor of almost five compared to the historical period 1981–2010 if no further mitigation or adaptation actions are taken, suggesting the presence of more pronounced effects in the regions where these damages are already acute.
Secular stagnation on the supply side takes the form of a slow 1.6 percent annual growth rate of US potential real GDP, roughly half the 3.1 percent annual growth rate of actual real GDP realized ...from 1972 to 2004. This slowdown stems from a sharp decline in the growth rate of aggregate hours of work and of output per hour. This paper attributes the productivity growth decline to diminishing returns in the digital revolution that had its peak effect business hardware, software, and best practices in the late 1990s but has resulted in little change in those methods over the past decade.
Abstract
Flooding in the Yangtze River Basin could severely damage socio-economic development, river ecosystems, food security, hydropower production and transportation in China. The Yangtze River ...Basin accounts for approximately 30% of China’s gross domestic product (GDP) and is an engine for the country’s rapid economic growth. One commonly held belief is that climate change has intensified extreme flood events, leading to increasing economic damage in the Yangtze River. Here, we quantitatively attributed economic exposure to climate change (i.e. climate-induced changes in weather-related events) and GDP growth, and assessed benefits, i.e. the reduction in economic exposure, from flood defence dikes of varying heights. To do this, we developed a framework by combing a large scale hydrological model, a hydraulic model, and long-term GDP data. We find that climate-induced changes in flood inundation area and resulted economic exposure were decreasing overall, whereas GDP growth drove the increases of potential economic exposure to floods. We also reveal that the basin average flood defence dikes should be at least approximately 3.5 m high to achieve an about ten-year average flood occurrence. Our results have significant policy and socioeconomic development implications.
Since climate change is the paramount concern of recent literature, macroeconomic factors such as green growth and economic globalization may play an integral role in achieving ecological ...sustainability in the presence of eco-innovation. However, the combined contributions of green growth, economic globalization, and eco-innovation towards achieving ecological sustainability are missing from the existing knowledge. Therefore, we investigate the combined influence of these variables in the presence of human capital, financial development, and gross domestic product on ecological footprint per capita for a panel of 20 Organization for Economic Co-operation and Development (OECD) countries from 1990 through 2017. The method of panel quantile regression is used to produce sound results across varying levels of the ecological footprint of OECD nations. The main results are as follows: firstly, green productivity growth linearly and non-linearly mitigates the ecological degradation, presenting a more pronounced ecological protection impact for higher quantiles, followed by medium and lower quantiles. Secondly, economic globalization manifests mixed effects: it induces ecological deterioration impact in the absence of its interaction with eco-innovation, while it brings about an ecological protection impact with the interaction term. Thirdly, eco-innovation demonstrates an ecological protection impact for all quantiles, with the most influential impact in countries with higher ecological footprint per capita, followed by medium and lower footprints. Based on empirical results, we propose productive utilization of environmental resources for ecological sustainability through product and process innovation and efficient management practices. Besides, we recommend cultivating energy-efficient and clean environmental technologies for long-term ecological sustainability.
•Combined influence of green productivity growth, economic globalization, and eco-innovation.•Panel quantile regression estimated heterogenous impacts across diversified ecological footprint.•Green productivity growth and eco-innovation mitigate ecological degradation.•Economic globalization without interactive term of eco-innovation depicts ecological degradation.•Economic globalization interacting with eco-innovation portrays ecological protections.
This article aims to investigate the relationship among renewable energy consumption, carbon dioxide (CO
2
) emissions, and GDP using panel data for 24 Asian countries between 1990 and 2012. Panel ...cross-sectional dependence tests and unit root test, which considers cross-sectional dependence across countries, are used to ensure that the empirical results are correct. Using the panel cointegration model, the vector error correction model, and the Granger causality test, this paper finds that a long-run equilibrium exists among renewable energy consumption, carbon emission, and GDP. CO
2
emissions have a positive effect on renewable energy consumption in the Philippines, Pakistan, China, Iraq, Yemen, and Saudi Arabia. A 1% increase in GDP will increase renewable energy by 0.64%. Renewable energy is significantly determined by GDP in India, Sri Lanka, the Philippines, Thailand, Turkey, Malaysia, Jordan, United Arab Emirates, Saudi Arabia, and Mongolia. A unidirectional causality runs from GDP to CO
2
emissions, and two bidirectional causal relationships were found between CO
2
emissions and renewable energy consumption and between renewable energy consumption and GDP. The findings can assist governments in curbing pollution from air pollutants, execute energy conservation policy, and reduce unnecessary wastage of energy.
Abstract
The social cost of carbon dioxide (SC-CO
2
) measures the monetized value of the damages to society caused by an incremental metric tonne of CO
2
emissions and is a key metric informing ...climate policy. Used by governments and other decision-makers in benefit–cost analysis for over a decade, SC-CO
2
estimates draw on climate science, economics, demography and other disciplines. However, a 2017 report by the US National Academies of Sciences, Engineering, and Medicine
1
(NASEM) highlighted that current SC-CO
2
estimates no longer reflect the latest research. The report provided a series of recommendations for improving the scientific basis, transparency and uncertainty characterization of SC-CO
2
estimates. Here we show that improved probabilistic socioeconomic projections, climate models, damage functions, and discounting methods that collectively reflect theoretically consistent valuation of risk, substantially increase estimates of the SC-CO
2
. Our preferred mean SC-CO
2
estimate is $185 per tonne of CO
2
($44–$413 per tCO
2
: 5%–95% range, 2020 US dollars) at a near-term risk-free discount rate of 2%, a value 3.6 times higher than the US government’s current value of $51 per tCO
2
. Our estimates incorporate updated scientific understanding throughout all components of SC-CO
2
estimation in the new open-source Greenhouse Gas Impact Value Estimator (GIVE) model, in a manner fully responsive to the near-term NASEM recommendations. Our higher SC-CO
2
values, compared with estimates currently used in policy evaluation, substantially increase the estimated benefits of greenhouse gas mitigation and thereby increase the expected net benefits of more stringent climate policies.
Determinants of foreign direct investment Blonigen, Bruce A.; Piger, Jeremy
The Canadian journal of economics,
August/Août 2014, Letnik:
47, Številka:
3
Journal Article
Recenzirano
Empirical studies of bilateral foreign direct investment (FDI) activity show substantial differences in specifications with little agreement on the set of included covariates. We use Bayesian ...statistical techniques that allow one to select from a large set of candidates those variables most likely to be determinants of FDI activity. The variables with consistently high inclusion probabilities include traditional gravity variables, cultural distance factors, relative labour endowments and trade agreements. There is little support for multilateral trade openness, most host-country business costs, host-country infrastructure and host-country institutions. Our results suggest that many covariates found significant by previous studies are not robust. Les études empiriques des déterminants des activités d'investissement direct bilatéral à l'étranger ont des spécifications substantiellement différentes et peu d'accord sur les variables co-reliées incluses. On utilise des techniques statistiques bayesiennes qui permettent de balayer un vaste ensemble de variables à la recherche de celles qui sont davantage susceptibles d'être des déterminants des activités d'investissement direct à l'étranger. Les variables qui se retrouvent de manière régulière dans la liste de haute probabilité d'impact sont les variables reliées à la gravité, les facteurs liés à la distance culturelle, les dotations relatives en facteur travail, et les accords commerciaux. Il y a peu de support pour des variables comme l'ouverture au commerce multilatéral, la plupart des coûts d'affaires, les infrastructures et les institutions dans les pays hôtes. Ces résultats suggèrent que plusieurs co-variations qu'on a jugées significatives dans les études antérieures ne sont pas robustes.
PDF
