A Long-Term Trend Toward the Depletion of Fiscal-Macroeconomic Slack in the World Economy?

2008 ◽  
Author(s):  
Nader Elhefnawy
2008 ◽  
Vol 26 (5) ◽  
pp. 1199-1206 ◽  
Author(s):  
A. D. Danilov

Abstract. The data from the vertical ionospheric sounding for 12 stations over the world were analyzed to find the relation between the values of foF2 for 02:00 LT and 14:00 LT of the same day. It is found that, in general, there exists a negative correlation between foF2(02) and foF2(14). The value of the correlation coefficient R(foF2) can be in some cases high enough and reach minus 0.7–0.8. The value of R(foF2) demonstrates a well pronounced seasonal variations, the highest negative values being observed at the equinox periods of the year. It is also found that R(foF2) depends on geomagnetic activity: the magnitude of R(foF2) is the highest for the choice of only magnetically quiet days (Ap<6), decreasing with the increase of the limiting value of Ap. For a fixed limitation on Ap, the value of R(foF2) depends also on solar activity. Apparently, the effects found are related to thermospheric winds. Analysis of long series of the vertical sounding data shows that there is a long-term trend in R(foF2) with a statistically significant increase in the R(foF2) magnitude after about 1980. Similar analysis is performed for the foF2(02)/foF2(14) ratio itself. The ratio also demonstrates a systematic trend after 1980. Both trends are interpreted in terms of long-term changes in thermospheric circulation.


2013 ◽  
Vol 225 ◽  
pp. F2-F2

The world economy will grow by 3.1 per cent this year, and by 3.6 per cent in 2014: still below longer-term trend.Growth has slowed in key emerging market economies, particularly China, while it remains relatively weak in most advanced economies.A significant rise in the volatility and level of global long-term interest rates is inconvenient for some countries and may slow recovery.


2005 ◽  
Vol 40 (1) ◽  
pp. 195-222 ◽  
Author(s):  
Miguel A. Ferreira ◽  
Paulo M. Gama

AbstractThis paper uses a volatility decomposition method to study the time-series behavior of equity volatility at the world, country, and local industry levels. Between 1974 and 2001, there is no noticeable long-term trend in any of the volatility measures. Then in the 1990s there is a sharp increase in local industry volatility compared to market and country volatility. Thus, correlations among local industries have declined. More assets are needed to achieve a given level of diversification, and there is more of a penalty for not being well diversified by industry. Local industry volatility leads the other volatility measures.


2002 ◽  
Vol 182 ◽  
pp. 8-36

Global economic activity strengthened considerably in the first half of this year, helped by a rebound in trade volumes and a marked recovery in industrial production. Although the rapid growth experienced in the early part of the year has faltered, there was still broadly-based, if somewhat subdued, growth in activity in all the major economies in the second quarter of the year, with GDP rising by between 0.3-0.6 per cent in the US, the UK, the Euro Area and Japan. For the year as a whole we continue to expect global GDP growth (measured at Purchasing Power Parity exchange rates) to be around 2¾ per cent, which whilst below long-term trend levels, would be a welcome improvement on the growth of under 2¼ per cent seen in 2001.


Author(s):  
Albert E. Beaton ◽  
James R. Chromy
Keyword(s):  

2020 ◽  
Vol 6 (2) ◽  
pp. 194-221 ◽  
Author(s):  
Paul K. Gellert ◽  
Paul S. Ciccantell

Predominant analyses of energy offer insufficient theoretical and political-economic insight into the persistence of coal and other fossil fuels. The dominant narrative of coal powering the Industrial Revolution, and Great Britain's world dominance in the nineteenth century giving way to a U.S.- and oil-dominated twentieth century, is marred by teleological assumptions. The key assumption that a complete energy “transition” will occur leads some to conceive of a renewable-energy-dominated twenty-first century led by China. After critiquing the teleological assumptions of modernization, ecological modernization, energetics, and even world-systems analysis of energy “transition,” this paper offers a world-systems perspective on the “raw” materialism of coal. Examining the material characteristics of coal and the unequal structure of the world-economy, the paper uses long-term data from governmental and private sources to reveal the lack of transition as new sources of energy are added. The increases in coal consumption in China and India as they have ascended in the capitalist world-economy have more than offset the leveling-off and decline in some core nations. A true global peak and decline (let alone full substitution) in energy generally and coal specifically has never happened. The future need not repeat the past, but technical, policy, and movement approaches will not get far without addressing the structural imperatives of capitalist growth and the uneven power structures and processes of long-term change of the world-system.


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