Long-run trends in labor supply

Article Abstract:

The growth in labor supply is one source of potential output growth that is brought about by a substantial increase in labor force participation. Changes in labor supply can also be influenced by other factors, including length of workweek, amount of time spent away from work and demographic shifts of the population. A faster increase in labor force does not influence increasing overall GDP growth in the years to come. However, a slowing of labor force growth will likely affect it. Any increase in GDP must then come from faster increase in labor productivity and not from faster growth in labor supply.

Gross Domestic Product, Labor Force, Evaluation, Labor supply

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Index numbers and the measurement of real GDP

Article Abstract:

The emasurement of GDP is composed oft the weights of prices given to the numerous goods and services produced in an economy. The estimates of GDP for a given period could be misleading because prices of commodities are always changing. It was suggested that a more accurate measurement of GDP over a certain period can be computed by using prices in a selected base year, rather than actual prices for every individual year. It this way, the difficulties in using weighted prices can be avoided.

Measurement, Index numbers (Economics)

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Controlling inflation with an interest rate instrument

Article Abstract:

A study was conducted to examine the relationship between long-run inflation and target goals for nominal gross domestic product (GDP) or monetary aggregate (M2). Results show that the application of an interest rate provides a better alternative for controlling GDP growth. The use of such an instrument will also control inflation without raising volatile levels of real GDP or interest rates.

Economic aspects, Inflation (Finance), Interest rates, Inflation (Economics)

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