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Capacity Utilization
Capacity utilization or capacity utilisation is the extent to which a firm or nation employs its installed productive capacity (maximum output of a firm or nation). It is the relationship between output that ''is'' produced with the installed equipment, and the potential output which ''could'' be produced with it, if capacity was fully used. The Formula is the actual output per period all over full capacity per period expressed as a percentage. Engineering and economic measures One of the most used definitions of the "capacity utilization rate" is the ratio of actual output to the potential output. But potential output can be defined in at least two different ways. Engineering definition One is the "engineering" or "technical" definition, according to which potential output represents the maximum amount of output that can be produced in the short run with the existing stock of capital. Thus, a standard definition of capacity utilization is the (weighted) average of the ratios ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productive Capacity
Productive capacity is the maximum possible output (economics), output of an economy. According to the United Nations Conference on Trade and Development (UNCTAD), no agreed-upon definition of maximum output exists. UNCTAD itself proposes: "the productive ''resources'', entrepreneurial ''capabilities'' and production ''linkages'' which together determine the capacity of a country to produce goods and services." The term may also be applied to individual resources or assets; for instance the productive capacity of an area of farmland. Definition in more depth Productive capacity has a lot in common with a Production–possibility frontier, production possibility frontier (PPF) that is an answer to the question what the maximum production capacity of a certain economy is which means using as many economy’s resources to make the output as possible. In a standard PPF graph, two types of goods’ quantities are set. PPF expresses all the possibilities of a combination of these goods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided by, first including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as medium-term ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anwar Shaikh (Economist)
Anwar M. Shaikh ( Sindhi: انور شيخ) is a Pakistani American heterodox economist in the tradition of classical political economy and Marxian economics. He is Professor of Economics in the Graduate Faculty of Social and Political Science at The New School for Social Research in New York City, where he has taught since 1972. Early life and education Shaikh was born in Karachi into a Liberal Sindhi family in 1945. He traveled extensively at an early age and attended schools and lived for various lengths of time in Ankara, Washington, D.C., New York City, Lagos, Kuala Lumpur, and Kuwait. He graduated from Stuyvesant High School in New York City in 1961, received a B.S.E from Princeton University in 1965, worked for two years in Kuwait, and then returned to the United States to study at Columbia University, from which he received his Ph.D. in Economics in 1973. In 1972 he joined the Economics Department at the Graduate Faculty of the New School for Social Research. He t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zvi Hercowitz
Zvi Hercowitz (Hebrew: צבי הרקוביץ; born December 21, 1945, in Rosario, Argentina) is professor emeritus at Tel Aviv University's School of Economics and has been a member of the montetary committee of the Bank of Israel since 2017. He emigrated to Israel in 1969 and began his academic career at Tel Aviv University in 1980. He published extensively throughout his career, with notable works includingMoney and the Dispersion of Relative Prices", Journal of Political Economy, April 1981; "Output Growth, the Real Wage, and Employment Fluctuations" with Michael Sampson, American Economic Review, December 1991; and "Long-Run Implications of Investment-Specific Technological Progress" with Jeremy Greenwood and Per Krusell, American Economic Review, June 1997. He received the bachelor's degree in economics in 1973 and the master of arts in economics in 1975, both from the Hebrew University in Jerusalem. In 1980 he received his PhD in economics from the University of Rocheste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Crotty (economist)
James R. Crotty (December 26, 1940 – January 9, 2023) was an American Post-Keynesian macroeconomist whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. He has made contributions to the social structure of accumulation (SSA) theory; the implications of radical uncertainty for macro theory and theories of financial markets. Education Crotty got a degree from Fordham University in 1961 and masters from Carnegie-Mellon University in 1963. Crotty received his Ph.D. from Carnegie Mellon University in 1973. Career Crotty did Economist and Operations Research Analyst at Mellon National Bank and Trust Company from 1963 to 1966. He was assistant professor at State University of New York at Buffalo and Bucknell University between 1966–72 and 1972-74 respectively. After teaching at the University at Buffalo, The State University of New York and Bucknell University, he joined the Economics Departme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Susan Strange
Susan Strange (9 June 1923 – 25 October 1998) was a British political economist, author, and journalist who was "almost single-handedly responsible for creating international political economy." Notable publications include ''Sterling and British Policy'' (1971), ''Casino Capitalism'' (1986), ''States and Markets'' (1988), ''The Retreat of the State'' (1996), and ''Mad Money'' (1998). She helped create the British International Studies Association. She was the first woman to hold the Montague Burton Professor of International Relations at the London School of Economics and was the first female academic to have a professorship named after her at the LSE. In 2024, King's College London and the LSE hosted a two-day conference celebrating and debating the continuing relevance of Susan Strange's thinking both in and outside academia. Early life Susan Strange was born on 9 June 1923 in Langton Matravers (County Dorset). She was the daughter of English aviator Louis Strang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turkish Statistical Institute
Turkish Statistical Institute (commonly known as TurkStat; or TÜİK) is the Turkish government agency commissioned with producing official statistics on Turkey, its population, resources, economy, society, and culture. It was founded in 1926 and headquartered in Ankara. Formerly named as the State Institute of Statistics (Devlet İstatistik Enstitüsü (DİE)), the institute was renamed as the Turkish Statistical Institute on November 18, 2005. See also * List of Turkish provinces by life expectancy References External linksOfficial website of the institute National statistical services Statistical Statistics (from German language, German: ', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a s ... Organizations established in 1926 Organizations based in Ankara {{Sci-org-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Governors Of The Federal Reserve System
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.See It is headquartered in the Eccles Building on Constitution Avenue, N.W. in Washington, D.C. Statutory description By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country". As stipulated in the Banking Act of 1935, the chair and vice chair of the Board are two of seven members of the Board of Governors who are appointed by the president from among the sitting governors of the Federal Reserve Banks. The terms of the seven members of the Board span multiple presidenti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute For Supply Management
Institute for Supply Management (ISM) is the world's oldest and largest supply management association. Founded in 1915, the U.S.-based not-for-profit educational association serves professionals and organizations with interest in supply management, providing education, training, qualifications, publications, information, and research. ISM serves a community of over 50,000 members in more than 100 countries. It offers three qualifications, the Certified Professional in Supply Management (CPSM), Certified Professional in Supplier Diversity (CPSD), and the Associate Professional in Supply Management (APSM), in partnership with CAPS Research. History Institute for Supply Management originated in 1915 as the ''National Association of Purchasing Agents'' (NAPA). In the early twentieth century, the purchasing function typically did not enjoy the full support of management, which was typically indifferent to its potential. Prior to 1915, local purchasing associations had formed in at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Output Gap
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 GDP gap is a highly criticized notion, in particular due to the fact that the potential GDP is not an observable variable, it is instead often derived from past GDP data, which could lead to systemic downward biases."True, the output gap is an elusive concept that should never have become a gauge for conducting public policy, and it may be larger than thought."Monetary policy: lifting the veil of effectivenes Speech by Benoit Cœuré, 18 December 2019 Calculation The calculation for the output gap is (Y–Y*)/Y* where Y is actual output and Y* is potential output. If this calculation yields a positive number it is called an inflationary gap and indicates the growt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Spending
In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year. Krugman, Paul and Robin Wells (2012), 2nd ed. ''Economics'', p. 593. Worth Publishers. "accounting" The types of investment include residential investment in housing that will provide a flow of housing services over an extended time, non-residential fixed investment in things such as new machinery or factories, human capital investment in workforce education, and inventory investment (the accumulation, intentional or unintentional, of goods inventories) In measures of national income and output, "gross investment" (represented by the variable ) is a component of gross domestic product (), given in the formu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
