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Showing papers on "Real gross domestic product published in 1980"


Journal ArticleDOI
TL;DR: In this article, structural relationships estimated from data obtained in a benchmark study of the expenditures and prices of 16 countries were used to develop a table of real gross domestic product and shares of gross domestic products devoted to private and public consumption and investment for each of over 100 countries in the years 1950 and 1960 through 1977.
Abstract: Structural relationships estimated from data obtained in a benchmark study of the expenditures and prices of 16 countries are used to develop a table of real gross domestic product and shares of gross domestic product devoted to private and public consumption and investment for each of over 100 countries in the years 1950 and 1960 through 1977. Price level estimates for total product and the three components are also provided.

84 citations


ReportDOI
TL;DR: The distribution of employment among agriculture, industry, and service within countries is closely related to the level of real Gross Domestic Product per capita as mentioned in this paper, and as real income rises, agriculture's share falls, service employment rises, and Industry's share rises to a peak at about $3,300 (1970 dollars) per capita and then declines.
Abstract: The distribution of employment among Agriculture, Industry, and Service within countries is closely related to the level of real Gross Domestic Product per capita. As real income rises, Agriculture's share falls, Service employment rises, and Industryâ€TMs share rises to a peak at about $3,300 (1970 dollars) per capita and then declines. U.S. time series and OECD cross-sections follow almost identical patterns of employment change. The decline of Agriculture is attributable primarily to differences in income elasticity of demand but the shift from Industry to Service is attributable primarily to differential rates of growth of output per worker. Economic growth also contributes to the rise of service employment through an increase in female labor force participation because families with working wives tend to spend a higher proportion of their income on services. Productivity tends to grow less rapidly in the Service sector than in the rest of the economy, but the shift of employment to Services was not a major factor in the slowing of aggregate productivity in the United States in the 1970's.

68 citations


Journal ArticleDOI
TL;DR: Switzerland offers a view of the past that works as mentioned in this paper, and it is one of the richest countries in the world with a Gross National Product (GNP) of $13,853 per capita.
Abstract: Recent experience confirms an old truth: Switzerland offers a view of the past that works. In 1978 Switzerland was one of the richest countries in the world with a Gross National Product (GNP) of $13,853 per capita. Between 1975 and 1978 it raised the proportion of exports of goods and services in its Gross Domestic Product (GDP) from 36 to 44 percent. In 1977 its current account surplus surpassed that of West Germany and was second only to Japan's. Between 1970 and the end of 1979 the Swiss Franc appreciated by about 90 percent on a trade-weighted basis; against the dollar the appreciation was about 120 percent. From a rate of more than 10 percent in 1974 its inflation rate dropped to 1 percent in 1978. Switzerland's official unemployment figures (which do not record the loss of more than 300,000 jobs among foreign workers and women since 1973) are lower than those of all other advanced industrial states. And even though since 1970 government expenditures have increased faster than in any other OECD country, Switzerland's budget deficit was cut by one-third in the midst of a general recession in 1976–1977. Real GDP dropped by more than 7 percent in 1975, which represented one of the largest declines in the OECD and was a much greater drop than had been recorded in any one year in the 1930s; yet, only two years later, in 1977 Switzerland's real GNP increased by 4.3 percent, which exceeded the growth rate of any other OECD member state.

35 citations


Posted Content
TL;DR: The distribution of employment among agriculture, industry, and service within countries is closely related to the level of real Gross Domestic Product per capita as real income rises, agriculture's share falls, service employment rises, and Industry's share rises to a peak at about $3,300 (1970 dollars) per capita and then declines US time series and OECD cross-sections follow almost identical patterns of employment change.
Abstract: The distribution of employment among Agriculture, Industry, and Service within countries is closely related to the level of real Gross Domestic Product per capita As real income rises, Agriculture's share falls, Service employment rises, and Industry’s share rises to a peak at about $3,300 (1970 dollars) per capita and then declines US time series and OECD cross-sections follow almost identical patterns of employment change The decline of Agriculture is attributable primarily to differences in income elasticity of demand but the shift from Industry to Service is attributable primarily to differential rates of growth of output per worker Economic growth also contributes to the rise of service employment through an increase in female labor force participation because families with working wives tend to spend a higher proportion of their income on services Productivity tends to grow less rapidly in the Service sector than in the rest of the economy, but the shift of employment to Services was not a major factor in the slowing of aggregate productivity in the United States in the 1970's

34 citations