Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.

The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies. The rate of growth of GDP/capita is calculated from data on GDP and people for the initial and final periods included in the analysis of the analyst.

An acronym is an abbreviation coined from the initial letter of each successive word in a term or phrase. In general, an acronym made up solely from the first letter of the major words in the expanded form is rendered in all capital letters (NATO from North Atlantic Treaty Organization; an exception would be ASEAN for Association of Southeast

Governments and the media obsess about it while statisticians endlessly fiddle – but what is the real point of GDP and can it ever be accurately measured?

E conomists use the term “inflation” to denote an ongoing rise in the general level of prices quoted in units of money. The magnitude of inflation—the inflation rate—is usually reported as the annualized percentage growth of …

Box and Cox (1964) developed the transformation. Estimation of any Box-Cox parameters is by maximum likelihood. Box and Cox (1964) offered an example in which the data had the form of survival times but the underlying biological structure was of hazard rates, and the transformation identified this.

Even so, as Scott notices, replacing non-market labor with market labor should artificially inflate GDP. Even in a world where working women were so incredibly unproductive that they only made enough money to hire each other as daycare workers, that should register as an increase in GDP.

Citation “Countries Compared by Economy > GDP per capita. International Statistics at NationMaster.com”, World Bank national accounts data, …

Economic output per person around the world over the last two thousand years. There are many reconstructions of GDP per capita over the last centuries; here I will focus on the reconstructions by the British economist Angus Maddison who was working in Groningen (Netherlands) and where, after his death in 2010, er colleagues are advancing

The balance-of-payments accounts of a country record the payments and receipts of the residents of the country in their transactions with residents of other countries.