This is a print on demand edition of a hard to find publication. Rent, paid either to a landlord or to oneself as an owner-occupant, has a large weight in the CPI and in the personal consumption expenditures deflator. The authors describe how the Bureau of Labor Stat. (BLS) estimates tenant rent and owners¿ equivalent rent. They then estimate alternative inflation rates for tenant rent and owners¿ equivalent rent based on Amer. Housing Survey data, following BLS methodology as closely as possible. The authors¿ alternative tenant rent inflation series is generally consistent with the corresponding BLS series. However, their alternative owners¿ equivalent rent inflation series is consistently lower than the corresponding BLS series by an amount large enough to have a significant effect on the overall inflation rate.
There is probably no concept other than saving for which U.S. official agencies issue annual estimates that differ by more than a third, as they have done for net household saving, or for which reputable scholars claim that the correct measure is close to ten times the officially published one. Yet despite agreement among economists and policymakers on the importance of this measure, huge inconsistencies persist. Contributors to this volume investigate ways to improve aggregate and sectoral saving and investment estimates and analyze microdata from recent household wealth surveys. They provide analyses of National Income and Product Account (NIPA) and Flow-of-Funds measures and of saving and survey-based wealth estimates. Conceptual and methodological questions are discussed regarding long-term trends in the U.S. wealth inequality, age-wealth profiles, pensions and wealth distribution, and biases in inferences about life-cycle changes in saving and wealth. Some new assessments are offered for investment in human and nonhuman capital, the government contribution to national wealth, NIPA personal and corporate saving, and banking imputation.
The celebrated economist Zvi Griliches’s entire career can be viewed as an attempt to advance the cause of accuracy in economic measurement. His interest in the causes and consequences of technical progress led to his pathbreaking work on price hedonics, now the principal analytical technique available to account for changes in product quality. Hard-to-Measure Goods and Services, a collection of papers from an NBER conference held in Griliches’s honor, is a tribute to his many contributions to current economic thought. Here, leading scholars of economic measurement address issues in the areas of productivity, price hedonics, capital measurement, diffusion of new technologies, and output and price measurement in “hard-to-measure” sectors of the economy. Furthering Griliches’s vital work that changed the way economists think about the U.S. National Income and Product Accounts, this volume is essential for all those interested in the labor market, economic growth, production, and real output.
This paper focuses on Norway’s 2013 Article IV Consultation on economic policies to enhance long-term competitiveness. The success of the oil sector has created new competitiveness challenges. The IMF report states that rapid increases in oil wealth are also adding further pressures on the economy despite sound oil revenue management anchored by a fiscal rule. It also highlights that a slower rate of spending could better align the expected fiscal transfers with the expected long run aging- related costs that peak only after oil production is largely over.
The Routledge Handbook of Private Law and Sustainability reflects on how the law can help tackle the current environmental challenges and make our societies more resilient to future crises. Sustainability has been high on the political agenda since the approval of the Sustainable Development Goals in 2015 and the EU Green Deal in 2019. The Green Agenda aims at making Europe the first climate‐neutral continent by 2050, but humanity persists in an ecological overshoot that puts at risk the survival of species, including that of our own. Drawing together a selection of leading thinkers in the field, this Handbook provides a curated overview of the most recent and relevant discussions for private lawyers related to environmental and sustainability concerns. The authors delve into case study examples from 20 countries in Europe and beyond and discuss a wide range of issues, including new property law and consumer law paradigms, the use of legal tech for promoting sustainable property management, strategies for fighting planned obsolescence, eco‐design, the servitisation economy, advances on corporate climate litigation and mandated green private sludges. Overall, the volume is designed to empower new generations of legal scholars to take an active role in the transition to a more sustainable future. It will also assist policymakers in producing better policy, through pinpointing the main legal issues that need to be addressed and offering a comparative overview of legal solutions and best practices. Divided into six key parts and overseen by a team of internationally recognised expert editors, this Handbook will be an essential resource for students, scholars, private lawyers and policymakers who wish to have a comprehensive, fundamental overview of how environmental sustainability concerns reflect on private law.
