scholarly journals The Czech labour market after the crisis of a real economy: negative development or return to steady-state?

2011 ◽  
Vol 59 (7) ◽  
pp. 477-488 ◽  
Author(s):  
Pavel Tuleja ◽  
Michal Tvrdoň
Keyword(s):  
Steady State ◽  
Gross Domestic Product ◽  
Labour Market ◽  
Economic Crisis ◽  
Economic Performance ◽  
Banking System ◽  
The United States ◽  
Domestic Product ◽  
Real Economy ◽  
Almost All

This paper studies the Czech economy before, during and after the economic crisis. Consequences on the labour market, respectively on unemployment are also discussed in the paper. According to most economists the cause of the economic crisis was the financial crisis which was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the “bail out” of banks by national governments and downturns in stock markets around the world. Real gross domestic product decreased in almost all EU countries including the Czech economy. Massive drop of gross domestic product led to increase in the unemployment rate. The purpose of this paper is to contribute to discussion about consequences of this crisis. The paper provides also an analysis of gross domestic product and its components. The empirical analysis also tried to answer the question if it is more a return to steady–state than the deterioration of economic performance in the case of the Czech economy. In other words, it means that economic performance of the Czech economy was above the level of potential output. Research in this study is based on basic macroeconomic quarterly data between the years 2000 and 2010 which were published by the Czech Statistical Office and Eurostat. We found out that the Czech labour market had to cope with the consequences of the economic crisis and now it is going to reach a long-term equilibrium.

AS INUNDAÇÕES DE 2009 NA AMAZÔNIA E SUAS RELAÇÕES COM O DESENVOLVIMENTO SUSTENTÁVEL: IMPACTOS AO PRODUTO INTERNO BRUTO MUNICIPAL

GEOgraphia ◽  
2018 ◽  
Vol 20 (43) ◽  
pp. 101
Author(s):  
Alex Santiago Nina ◽  
Cláudio Fabian Szlafsztein
Keyword(s):  
Sustainable Development ◽  
Correlation Analysis ◽  
Gross Domestic Product ◽  
Natural Disasters ◽  
Economic Performance ◽  
Domestic Product ◽  
Economic Losses ◽  
Palabras Clave ◽  
Linear Correlation Analysis

Nos últimos anos, tem aumentado a frequência dos desastres naturais na Amazônia, concomitantemente com a necessidade de estimar os seus prejuízos econômicos. Este trabalho tem como objetivo verificar qual é o tipo e a intensidade do impacto das inundações de 2009, consideradas as maiores já registradas na Amazônia, no crescimento do Produto Interno Bruto (PIB) municipal. A metodologia consistiu na análise de correlação linear entre o desempenho econômico e algumas variáveis referentes ao tipo de inundação e indicadores socioeconômicos. Os resultados mostram que as inundações bruscas são as mais problemáticas em longo prazo. As principais estratégias a serem adotadas perpassam pela inclusão de ações de mitigação de desastres naturais ao planejamento do desenvolvimento sustentável da Amazônia. Palavras-chave: Produto Interno Bruto. Inundação. Amazônia. THE 2009 FLOODS IN THE AMAZON AND ITS RELATIONSHIP WITH SUSTAINABLE DEVELOPMENT: IMPACT ON THE MUNICIPAL GROSS DOMESTIC PRODUCT Abstract: In the last years, have been increase the frequency of natural disasters in Amazon, concomitantly whit the need of estimate their economic losses. This work have the objective of check what is the type and intensity of 2009 floods impacts, considered the major already registered in Amazon, to the increase of municipal Gross Domestic Product (GDP). The methodology was the linear correlation analysis between the economic performance and some variable relative to inundation type and socioeconomics indicators. The results bring which the fast floods are the major problem in the long term. The means strategies to be adopted are the inclusion of natural disasters mitigation actions in plan of sustainable development of Amazon. Keywords: Gross Domestic Product. Flood. Amazon. LAS INUNDACIONES DE 2009 EN LA AMAZONÍA Y SU RELACIÓN CON EL DESARROLLO SOSTENIBLE: IMPACTO EN EL PRODUCTO INTERNO BRUTO MUNICIPAL Resumen: En los últimos años ha aumentado la frecuencia de los desastres naturales en la Amazonia, concomitantemente con la necesidad de estimar sus prejuicios económicos. Este trabajo tiene como objetivo verificar cual es el tipo y la intensidad del impacto de las inundaciones de 2009, consideradas las mayores ya registradas en la Amazonia, al crecimiento del Producto Bruto Interno (PBI) municipal. La metodología consistió el análisis de correlación linear entre el desempeño económico y algunas variables referentes al tipo de inundación e indicadores socioeconómicos. Los resultados muestran que las inundaciones bruscas son las mas problemáticas a largo plazo. Las principales estrategias a ser adoptadas pasan por la inclusión de acciones de mitigación de desastres naturales a la planificación del desarrollo sostenible de la Amazonia. Palabras clave: Producto Interno Bruto. Inundaciones. Amazonia. 

An improved grey Markov chain model with ANN error correction and its application in gross domestic product forecasting

2021 ◽  
pp. 1-11
Author(s):  
Yuan Zou ◽  
Daoli Yang ◽  
Yuchen Pan
Keyword(s):  
Neural Network ◽  
Markov Chain ◽  
Gross Domestic Product ◽  
Error Correction ◽  
Historical Data ◽  
Markov Chain Model ◽  
Back Propagation ◽  
The United States ◽  
Domestic Product ◽  
Chain Model

Gross domestic product (GDP) is the most widely-used tool for measuring the overall situation of a country’s economic activity within a specified period of time. A more accurate forecasting of GDP based on standardized procedures with known samples available is conducive to guide decision making of government, enterprises and individuals. This study devotes to enhance the accuracy regarding GDP forecasting with given sample of historical data. To achieve this purpose, the study incorporates artificial neural network (ANN) into grey Markov chain model to modify the residual error, thus develops a novel hybrid model called grey Markov chain with ANN error correction (abbreviated as GMCM_ANN), which assembles the advantages of three components to fit nonlinear forecasting with limited sample sizes. The new model has been tested by adopting the historical data, which includes the original GDP data of the United States, Japan, China and India from 2000 to 2019, and also provides predications on four countries’ GDP up to 2022. Four models including autoregressive integrated moving average model, back-propagation neural network, the traditional GM(1,1) and grey Markov chain model are as benchmarks for comparison of the predicted accuracy and application scope. The obtained results are satisfactory and indicate superior forecasting performance of the proposed approach in terms of accuracy and universality.

scholarly journals ECONOMETRICS OF NATIONAL SECURITY AND DEFENSE OF UKRAINE

2021 ◽  
pp. 44-52
Author(s):  
Y. Marko ◽  
V. Kuzmenko
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
National Security ◽  
Factor Model ◽  
The United States ◽  
Domestic Product ◽  
Weak Efficiency ◽  
State Budget ◽  
External Threats ◽  
Gas Market

The article provides the importance of Ukraine's economic development to ensure national security, highlights the main internal and external threats to Ukraine's national security, such as: hybrid economic war, the "needle" of loans from the International Monetary Fund, communal tariffs, opening the gas market in Ukraine, inefficient introduction of the circulation of domestic agricultural lands and insufficient use of the capabilities of the country's economy. The cyclical nature of economic development is practically proved by distinguishing four phases of economic development of the studied countries for the last ten years, weak efficiency of economic policy of Ukraine and possible applied mechanisms of economic growth. An econometric analysis of GDP of Ukraine and countries that occupy the largest share in Ukrainian imports of goods, the budget of Ukraine and the budget of the Ministry of Defense of Ukraine using the method of least squares and even linear regressions, calculated the intensity of changes in Ukraine's economic processes. The model of gross domestic product of Ukraine depending on the gross domestic product of China, Poland, Russia, Turkey, Germany, Italy, Belarus, the United States and France (nine-factor model), as well as the model of Ukraine's defense budget depending on the domestic gross domestic product product, budget expenditures, taxes, minimum and average wages and inflation (seven-factor model). On the example of the Ministry of Defense of Ukraine as a public sector institution, the registration algorithm for economic (additional) activities by military units and the distribution of revenues to increase the special fund of the state budget of Ukraine and create recovery of the country economy in general.

The Economic Crisis

2013 ◽  
pp. 39-49
Author(s):  
Daniel Belingher ◽  
Cantemir Adrian Calin
Keyword(s):  
United States ◽  
Financial Markets ◽  
Economic System ◽  
Systems Theory ◽  
Economic Crisis ◽  
The United States ◽  
Entire System ◽  
Real Economy ◽  
Crisis Period ◽  
Real Gdp

The current chapter shows the gap between the real economy and the financial markets in the United States during the pre-crisis period at the end of 2007, as well as during the subsequent crisis period. The current research chapter also emphasizes the catastrophic effect that financial markets had inside the whole economic system due to this gap. The premise from which this chapter starts can be found in the systems theory and consists in Heinz von Foerster’s theorem. This research has an empirical nature and shows in which way an anomaly within the system can destabilize the entire system, finally resulting in the installation of the crisis period that we are still facing. In order to illustrate this, the authors refer to the evolution of the values of DJIA and real GDP, observed between mid 1940s until 2010 in the United States.

Money and Credit: Lessons of the Irish Bank Strike of 1970

2018 ◽  
Vol 51 (4) ◽  
pp. 345-365
Author(s):  
Malte Krueger
Keyword(s):  
Economic Performance ◽  
Main Part ◽  
Trade Credit ◽  
Banking System ◽  
Extended Period ◽  
Jel Classification ◽  
Bank Deposits ◽  
Almost All ◽  
Business As Usual ◽  
Settlement Mechanism

Abstract In Ireland, there was a bank strike that led to a complete shut-down of the main part of the banking system from May to November 1970. The effects of this strike were surprisingly limited. This had led some observers to conclude that trade credit can easily substitute for bank deposits as a means of payment. In this paper, it is shown how cash and cheques were used as substitutes and complements allowing for “business as usual” for an extended period of time. This paper argues that such a situation would not have prevailed much longer. The lack of a proper settlement mechanism implied that risks were rising for almost all transactors. In order to contain risks the use of trade credit would have declined and economic performance would have deteriorated progressively. Zusammenfassung In Irland hat 1970 ein Streik der Bankangestellten dazu geführt, dass wesentliche Teile des Banksystems von Mai bis November geschlossen waren. Die Auswirkungen dieses Streiks waren erstaunlich gering. Dies hat einige Beobachter zu der Schlussfolgerung veranlasst, dass Bankeinlagen als Zahlungsmittel sehr leicht durch Handelskredit ersetzbar sind. In dem vorliegenden Beitrag wird gezeigt, wie Bargeld und Schecks sowohl als Substitute als auch als Komplemente einen weitgehend störungsfreien Fortgang des geschäftlichen Lebens ermöglicht haben. Es wird jedoch argumentiert, dass dieser Zustand nicht sehr viel länger Bestand gehabt hätte. Ohne die Verfügbarkeit eines Settlement-Mediums nahmen die Risiken aller am Wirtschaftsleben Beteiligten ständig zu. Im Laufe der Zeit hätte die Vergabe von Handelskredit zunehmend eingeschränkt werden müssen, um diese Risiken zu begrenzen. Eine solche Einschränkung hätte die wirtschaftliche Aktivität zunehmend belastet. JEL Classification: E02, E59, G21, N14

scholarly journals Fiscal, Investment and Export Multipliers and the COVID-19 Pandemic Slowdowns Uncertainty Factor in the First Half of 2020

Risks ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 122 ◽  
Author(s):  
Arkadiusz J. Derkacz
Keyword(s):  
European Union ◽  
Gross Domestic Product ◽  
Domestic Product ◽  
Negative Effects ◽  
Uncertainty Factor ◽  
The World ◽  
European Union Countries ◽  
The Individual ◽  
Almost All ◽  
Fiscal Investment

The COVID-19 pandemic has caused a significant slowdown in the development of almost all economies in the world. In this context, the main goal of this research is to try to present changes in the value of fiscal, investment and export multipliers as a result of the COVID-19 pandemic. The research was conducted in selected European Union countries. They are France, Germany, Italy, Poland, Portugal and Spain. This research is based on the theory of effective demand. The values of feeds and leakages of total demand in the period from 2015 to 2020 were examined and calculated. On this basis, the individual multipliers of autonomous spending were analyzed and their changes in the first period of the COVID-19 pandemic were presented. The analyses led to a surprising conclusion: it found that the autonomous spending multipliers in some economies increased. This means that they have become ‘security buffers’ for the health of economies. This means that the increase in their value weakened the negative effects of changes in autonomous expenditure on gross domestic product.

scholarly journals National Character and Economic Performance

2018 ◽  
Vol 10 (9) ◽  
pp. 9
Author(s):  
Bijou Yang ◽  
David Lester
Keyword(s):  
Gross Domestic Product ◽  
Economic Performance ◽  
National Character ◽  
Domestic Product ◽  
Personality Test ◽  
Lower Growth ◽  
Per Capita ◽  
Year 2000

The present study explored whether the average scores on a personality test of the residents in 55 nations were associated with the gross domestic product per capita in the year 2000 and the growth in the GDP/capita from 2001-2005. Nations whose residents had higher score on a measure of neuroticism had a higher GDP/capita in 2000, and nations whose residents had higher scores on a measure of agreeableness had lower growth in the GDP/capita from 2001 to 2005. This supports Lynn’s hypothesis that national character might contribute to the prediction of the economic performance of nations.

Economic performance indicators for fisheries

2000 ◽  
Vol 51 (5) ◽  
pp. 485 ◽  
Author(s):  
Tor John Hundloe
Keyword(s):  
Sustainable Development ◽  
Gross Domestic Product ◽  
Economic Performance ◽  
Performance Indicators ◽  
Domestic Product ◽  
Economic Information ◽  
Proxy Indicators ◽  
Definition Of

An outline of the concept of sustainable development is followed by a definition of the term ‘economics’ and a brief review of attempts to use economic principles to construct an integrated indicator to replace gross domestic product. Arange of proxy indicators is described; these are based on what is possible in countries that have minimal fisheries data and where fishers are making decisions on the crudest economic information.

Editorial Introduction to the Symposium on the Global Financial Crisis

2009 ◽  
Vol 17 (2) ◽  
pp. 103-108 ◽  
Author(s):  
Sam Ashman
Keyword(s):  
United States ◽  
Political Economy ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Global Financial Crisis ◽  
Banking System ◽  
Financial System ◽  
The United States ◽  
Editorial Introduction ◽  
The Global Financial Crisis

AbstractThe current global economic crisis is historically unprecedented in that it began when poor groups in the United States defaulted on their mortgage-payments and spread fear of 'toxic debt' through an internationalised financial system, bringing the banking system close to collapse and highlighting the very individualised nature of contemporary financial relations. The symposium explores contemporary finance and banking practices in the context of Marxist political economy seeking to develop the notion of financialisation and arguing that banks' increasing reliance on individual households as a source of profits amounts to a form of financial expropriation or additional profit generated in the sphere of circulation.

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