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The Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. [8] The IMF publishes the World Economic Outlook report twice annually, which provides comprehensive global coverage. [9] The IMF and World Bank also produces Regional Economic Outlook for various parts of the world. [10]
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...
Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change. The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate.
A more conservative measure of economic activity is the value added impact, which estimates the increase in the study region's gross regional product. The gross regional product (GRP) is very similar to the nation's gross domestic product (GDP), and represents the total size of the local economy. This impact estimates the increase in local ...
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
The GDP gap or the output gap is the difference between actual GDP or actual output and potential GDP, in an attempt to identify the current economic position over the business cycle. The measure of output gap is largely used in macroeconomic policy (in particular in the context of EU fiscal rules compliance ).
The AK model of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics.In the 1980s it became progressively clearer that the standard neoclassical exogenous growth models were theoretically unsatisfactory as tools to explore long run growth, as these models predicted economies without technological change and thus they would ...
The filter was popularized in the field of economics in the 1990s by economists Robert J. Hodrick and Nobel Memorial Prize winner Edward C. Prescott, [1] though it was first proposed much earlier by E. T. Whittaker in 1923. [2] The Hodrick-Prescott filter is a special case of a smoothing spline. [3]