tag:blogger.com,1999:blog-2546602206734889307.post1356027112779869806..comments2024-03-19T05:54:16.651+00:00Comments on mainly macro: International GDP per capita comparisonsMainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-2546602206734889307.post-49310269719784880682023-05-05T03:42:29.078+00:002023-05-05T03:42:29.078+00:00Is GDP growth in the real world a zero sum game? A...Is GDP growth in the real world a zero sum game? Are GDP growth increases in one country likely to come at the cost of another country's GDP growth albeit with some time lag, especially in case of high degree of trade interlinkage? Thank youAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-43715641116027678642017-03-14T22:17:17.226+00:002017-03-14T22:17:17.226+00:00It is a while since I looked into this very briefl...It is a while since I looked into this very briefly.The US used to make more use of hedonic price adjustments to take account of quality improvements than did other countries. This had the effect, with the year-on-year data, of showing lower inflation and faster growth than without the hedonic adjustment, flattering US performance relative to other countries on both measures. The effect varied from year to year. Things may be different now. <br /><br />I am unclear how that flowed through to per capita data (if at all).William Cnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-60526154350297300322017-03-14T20:01:36.532+00:002017-03-14T20:01:36.532+00:00Interesting and thought provoking, but the fact th...Interesting and thought provoking, but the fact that you are trying to 'forgive' the SNP for inventing the term 'Project Fear' shows that you didn't follow the first independence referendum closely enough to know that it was NOT invented by the SNP. It was used by 'Better Together' in-house and leaked. J. R. Tomlinhttps://www.blogger.com/profile/01109874615059334200noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-55576460324490166262017-03-13T15:04:36.447+00:002017-03-13T15:04:36.447+00:00"Hasn't Germany also seen a lot of net im..."Hasn't Germany also seen a lot of net immigration in the last 10 years?"<br /><br />The net immigration was lower than mortality surplus until 2011/12, therefore, the gain in employment between 2006 and 2011 was an absolute and let to a sharp decrease of unemployment.<br /><br />Since 2012 the has become less clear: The immigration is now much larger than the mortality surplus. Around 50% of the new jobs are in the low wage sector.<br /><br />Ulenspiegel Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-45905869541030374782017-03-13T13:51:18.622+00:002017-03-13T13:51:18.622+00:00I have not read this book, so I don't know if ...I have not read this book, so I don't know if the quote here is the whole of the relevant argument, and having been taught by by Peter Temin many years ago I am sure that he knows all about NI definitions and conventions. However the section quoted here is not correct (unless US NI data is very different from the UK). <br /><br />Switching from GNP "to GDP moved Honda and Toyota production in the USA from Japanese GNP to American GDP" is an over-statement. The switch did not move the whole of production in the USA, only that part of the production that was remitted in profits back to Japan. The part of value-added that was was due to US workers' wages was already included in US GNP.<br /><br />AlmarAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-52150681328481000082017-03-13T09:04:45.908+00:002017-03-13T09:04:45.908+00:00The best measure is actually GDP per hour worked, ...The best measure is actually GDP per hour worked, or productivity, and leisure is no less valuable than consumption for people above the poverty line. By substantially reducing work time and raising productivity, Denmark has improved work-life balance and remains top in life satisfaction surveys, despite flat GDP, doing much better than the US and UK with flat productivity and working hours increasing for many , including unpaid overtime, combined with extensive underemploymentFelix FitzRoynoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-24232675338498090792017-03-13T09:01:43.400+00:002017-03-13T09:01:43.400+00:00Would a time frame from the start of the crisis be...Would a time frame from the start of the crisis be a fairer starting point as Germany is getting an unrelated 'bonus' for structural reforms which are not related to how Governments have handled the years post crisis.Maxton_MShttps://www.blogger.com/profile/18199656365024498242noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-82523337735934965422017-03-13T08:57:01.872+00:002017-03-13T08:57:01.872+00:00""Germany has clearly been doing better ...""Germany has clearly been doing better than anyone else among the major countries, with growth from 2006 to 2015 of over 11%""<br /><br />Germany has clearly been doing better from 2009 to 2011.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-70225800410339269192017-03-13T01:55:47.234+00:002017-03-13T01:55:47.234+00:00Hasn't Germany also seen a lot of net immigrat...Hasn't Germany also seen a lot of net immigration in the last 10 years? The UK's population has grown faster than Germany's, but I'd expect this is mostly because of the large difference in natural increase (+0.3% in UK, -0.3% in Germany). So it's true that Germany has recovered far better than some of the other countries listed, but this recovery could be even more dependent on immigration than the British/American 'recovery' has been.Colinhttps://www.blogger.com/profile/17472849515808155408noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-61007855363417409812017-03-12T23:40:14.978+00:002017-03-12T23:40:14.978+00:00Would this explain relative resistance to populist...Would this explain relative resistance to populist rhetoric in Germany compared to other, more-lagging nations?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-3860392758209545642017-03-12T21:11:51.400+00:002017-03-12T21:11:51.400+00:00Simon
Thank you. Interesting as always. On the co...Simon<br /><br />Thank you. Interesting as always. On the contrast between Germany and Italy do you have any thoughts on the role of China?<br />One hypothesis I have never been able to check out to my satisfaction is that because China competed with Italy in producing clothes and footwear but bought sophisticated high technology products from Germany, Italy suffered but Germany benefited from the rise of China. I wonder whether you think there might be significant truth in this and if so to what extent it qualifies the standard view that German reforms and Italian failure to reform account for the difference on performance? William Cnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-12828857093015653792017-03-12T15:51:46.436+00:002017-03-12T15:51:46.436+00:00GDP up here. Down in Poland.GDP up here. Down in Poland.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-13626468352225591732017-03-12T14:15:39.165+00:002017-03-12T14:15:39.165+00:00"It is worth commenting in passing that the s..."It is worth commenting in passing that the shift in official statistics from GNP to GDP itself reflects a conception of economic decline. The former concept measures production by resources owned by citizens of the USA; the latter, production within the boundaries of the USA. The difference of course is foreign investment...when the USA began to import capital again in the 1980s, the use of GNP threatened to accentuate the sense of economic decline, to hasten the relative fall in American incomes. Switching to GDP moved Honda and Toyota production in the USA from Japanese GNP to American GDP."<br /><br />(Peter Temin, 'Measuring economic decline', in Understanding Decline (1997), p286).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-82939615099394712372017-03-12T13:21:25.071+00:002017-03-12T13:21:25.071+00:00I've started to think, how compatible are stat...I've started to think, how compatible are statistical GDP measures across countries? Is there a danger different countries measure them differently, resulting in unreliable comparisons (similar to crime stats)? Britonomisthttps://www.blogger.com/profile/12221647029208839668noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-41180795311956437172017-03-12T10:39:08.157+00:002017-03-12T10:39:08.157+00:00"Troika run Greece" is a bit insulting. ..."Troika run Greece" is a bit insulting. "Greece, which is constrained by poor Troika choices" would be more appropriate.Anonymousnoreply@blogger.com