Research by economists Carmen Reinhart and Kenneth Rogoff indicates that debt-to-GDP ratios above 90% have a dire effect on output, typically cutting GDP by a full percentage point annually.
You continue to assume that hiring even ditch diggers has no positive effect on output, which it does, and then argue that the debt becomes a burden on the private sector when it is, in fact, a financial asset that they have added to their portfolio.
That gave Dr Ellegren and Dr Sheldon a way to manipulate the sexiness of males and see what effect it had on their output of sons.
Think about the diminishing effect that must have on the creative output.
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" In explaining this, they say - in effect - that they looked at what the output gap would be, on the basis of their previous "cyclical indicators' approach, and decided it wasn't plausible.
He believes that positive supply-side forces will continue to damp the impact of strong demand on output prices and that productivity gains will continue to damp the effect of higher wages on unit labor costs.
At 1.7m bpd (more than is pumped from all of Libya's wells), Yukos's output makes up 2% of global oil production and thus has a noticeable effect on the price.
Superstorm Sandy, which struck the Northeast in late October, likely had a bearing on fourth-quarter output, but the Commerce Department wasn't able to provide an estimate of its effect on GDP.
The Fed justified its second round of quantitative easing partly on grounds that the wealth effect of rising stock prices would stimulate consumer spending and, by extension, boost output and reduce unemployment.
What will be the effect of new regulations on a global economy that has suffered millions of job losses and had trillions of dollars in economic output wiped out?
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