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A Technological Improvement Raises Productivity: A Comprehensive Guide
Author: Dr. Anya Sharma, PhD in Industrial Engineering and Management Systems, with 15 years of experience consulting Fortune 500 companies on optimizing operational efficiency through technological integration.
Publisher: Productivity Insights, a leading publisher specializing in business management, operational efficiency, and technological advancements in the workplace. They offer a range of resources, including white papers, webinars, and training programs, aimed at helping businesses improve their bottom line through strategic implementation of technology.
Editor: Mark Johnson, MBA, with 20 years of experience in business journalism and a focus on technology's impact on the modern workplace.
Summary: This guide explores how a technological improvement raises productivity, outlining best practices for successful implementation and highlighting common pitfalls to avoid. It covers aspects from initial assessment and selection of technology to change management, training, and ongoing monitoring. The guide emphasizes the importance of aligning technological advancements with business goals and fostering a culture of continuous improvement to maximize the benefits of technological integration.
Keywords: technological improvement, productivity increase, technology implementation, workplace efficiency, automation, digital transformation, ROI, change management, employee training, process optimization, a technological improvement raises productivity.
1. Assessing Your Need for Technological Improvement
Before diving into the exciting world of new technology, a thorough assessment is crucial. Understanding your current workflow, identifying bottlenecks, and defining specific productivity goals are foundational steps. A technological improvement raises productivity only when it directly addresses existing challenges. Consider:
Data Analysis: Analyze existing operational data to pinpoint areas where technology can have the greatest impact. This could involve tracking employee time, identifying process inefficiencies, or analyzing customer feedback.
SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to assess your organization's readiness for technological integration and to identify potential risks.
Benchmarking: Research industry best practices and compare your productivity levels to those of your competitors. This helps set realistic targets for improvement and identify potential technologies to consider.
2. Selecting the Right Technology
Choosing the appropriate technology is critical for realizing the potential benefits. A technological improvement raises productivity when the chosen tools are fit for purpose and integrate seamlessly with existing systems. Consider:
Scalability: Select technologies that can grow with your business, accommodating future expansion and increasing workloads.
Integration: Ensure that the new technology integrates seamlessly with your existing systems and workflows to avoid creating new bottlenecks.
Cost-Benefit Analysis: Conduct a thorough cost-benefit analysis to assess the return on investment (ROI) of each technology option. Factor in implementation costs, training expenses, and ongoing maintenance.
Vendor Support: Choose vendors with a proven track record and excellent customer support to ensure timely resolution of any issues.
3. Implementing the Technological Improvement
The implementation phase is where the rubber hits the road. Careful planning and execution are paramount to maximize the benefits of a technological improvement. This includes:
Pilot Program: Implement the technology on a smaller scale initially to test its effectiveness and identify any potential issues before a full-scale rollout.
Change Management: Communicate the changes effectively to employees, address their concerns, and provide adequate training. Resistance to change is a significant obstacle to overcome. A technological improvement raises productivity only when employees embrace the new tools.
Training and Support: Provide comprehensive training to employees on how to use the new technology effectively. Ongoing support is essential for addressing any questions or issues.
Data Migration: If the new technology involves migrating data from existing systems, ensure a smooth and accurate transfer to avoid data loss or inconsistencies.
4. Monitoring and Optimization
Implementing new technology is just the beginning. Ongoing monitoring and optimization are vital to ensure sustained productivity gains. A technological improvement raises productivity over time, but it requires continuous attention.
Key Performance Indicators (KPIs): Define KPIs to track the impact of the technology on productivity and other relevant metrics.
Regular Reviews: Conduct regular reviews of the technology's performance and make necessary adjustments to optimize its effectiveness.
Feedback Mechanisms: Establish feedback mechanisms to gather input from employees on how the technology is working and identify areas for improvement.
Iterative Improvement: Embrace a culture of continuous improvement, constantly seeking ways to enhance the effectiveness of the technology and refine workflows.
5. Common Pitfalls to Avoid
Several common pitfalls can hinder the realization of the full potential of a technological improvement. These include:
Ignoring Employee Buy-in: Failure to adequately address employee concerns and provide sufficient training can lead to resistance and low adoption rates.
Poorly Defined Goals: Without clearly defined goals and metrics, it's difficult to measure the success of the technological improvement.
Lack of Integration: Integrating new technology with existing systems poorly can create bottlenecks and inefficiencies.
Insufficient Training: Inadequate training can lead to errors, frustration, and ultimately, a failure to realize productivity gains.
Neglecting Ongoing Monitoring: Without ongoing monitoring and optimization, the initial benefits of the technology may diminish over time.
Conclusion
A technological improvement raises productivity significantly when implemented strategically and effectively. By carefully assessing your needs, selecting appropriate technology, planning for implementation, and monitoring performance over time, organizations can harness the power of technology to boost efficiency, reduce costs, and achieve their business objectives. Remember that embracing change, providing adequate training, and fostering a culture of continuous improvement are critical factors in maximizing the benefits of any technological advancement.
FAQs
1. What are some examples of technological improvements that raise productivity? Examples include CRM systems, project management software, automation tools, cloud computing, and AI-powered analytics.
2. How can I measure the ROI of a technological improvement? Track key performance indicators (KPIs) such as reduced processing time, increased output, decreased error rates, and improved customer satisfaction.
3. What if my employees resist adopting new technology? Address their concerns, provide comprehensive training, and involve them in the implementation process to foster buy-in.
4. How can I ensure the security of my data when implementing new technology? Choose reputable vendors, implement strong security protocols, and regularly update software to mitigate risks.
5. What are the ethical considerations of implementing AI-powered tools to improve productivity? Address potential biases, ensure data privacy, and consider the impact on employee roles and responsibilities.
6. How can I choose the right technology vendor? Look for vendors with a proven track record, excellent customer support, and a clear understanding of your business needs.
7. What is the role of change management in successful technology implementation? Effective change management is crucial for minimizing resistance, ensuring smooth transitions, and maximizing employee adoption.
8. How can I ensure my technology investment aligns with my business goals? Start with a clear understanding of your business goals and choose technologies that directly support those objectives.
9. What are the long-term implications of a technological improvement on my workforce? Technological improvements can lead to job displacement in some areas, but they also create new opportunities and require upskilling of the workforce.
Related Articles:
1. Automating Repetitive Tasks for Increased Productivity: Explores the benefits of automation and provides practical examples of tasks that can be automated.
2. The Impact of Cloud Computing on Business Productivity: Discusses the advantages of cloud-based solutions for enhancing efficiency and collaboration.
3. Implementing a CRM System to Streamline Sales Processes: Focuses on improving sales productivity through the effective use of customer relationship management software.
4. Leveraging Data Analytics to Drive Business Decisions: Shows how data analysis can reveal areas for process improvement and drive better business outcomes.
5. The Role of Project Management Software in Improving Team Productivity: Highlights the benefits of project management tools in enhancing team collaboration and efficiency.
6. Overcoming Resistance to Change During Technology Implementation: Provides strategies for minimizing employee resistance and fostering a culture of innovation.
7. Measuring the Return on Investment of Technology Investments: Offers practical tips for tracking and measuring the ROI of technology projects.
8. Building a Culture of Continuous Improvement Through Technology: Explores the importance of continuous improvement and how technology can facilitate this process.
9. The Future of Work: How Technology Will Shape the Workplace: Discusses the long-term implications of technological advancements on the nature of work and the skills needed in the future.
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| a technological improvement raises productivity: Principles of Macroeconomics: Ahuja H.L., this textbook thoroughly explains the principles of macroeconomics. It provides insights into the important macroeconomic issues, such as determination of output, employment, interest rates and inflation. This textbook discusses Classical and Keynesian theories of macroeconomics as well as aptly incorporates Post-Keynesian developments in various aspects of macroeconomics. Further it discusses, at appropriate places, the relevance and applicability of various macroeconomic theories for the developing countries. This textbook also explains and critically evaluates the post-Keynesian theories of consumption function namely, Kuznets consumption function, Modiglianis life cycle hypothesis and much more. |
| a technological improvement raises productivity: Reform and Productivity Growth in India Dibyendu Maiti, 2014-01-03 During the last two decades, India has experienced a high growth rate, but the contribution from productivity growth and technological progress has been very low. This has resulted in a poor performance in the employment generation in the formal sector, and this book examines this phenomenon and the Indian growth pattern. Using primary and secondary data, the book looks at the impact of economic reform on technological change and total productivity growth, and in turn its impact on the labour market. It examines the effect of trade reform on the form and functioning of labour markets, and goes on to look at the impact of the global financial crisis on the Indian labour market. Offering interesting modelling exercises and empirical verifications that bring fresh ideas and new content, this book is of interest to academics in the fields of development economics, international economics and South Asian studies. |
| a technological improvement raises productivity: Resources, Technology and Strategy Nicolai J. Foss, Paul L. Robertson, 2007-03-26 Brings together considerations of the strategic relationship between technology and other resources, such as production capabilities, marketing prowess, finance and organisational culture. |
| a technological improvement raises productivity: Behavioral Norms, Technological Progress, and Economic Dynamics Ernst Helmstädter, Mark Perlman, 1996 Schumpeter was interested in dynamic economics rather than the economics of stagnation; in the economics of the creation of wealth rather than the economics of the redistribution of wealth; in the economics of technological innovation rather than the economics of industrial management. The major thrust of the volume, then, concerns studies of industrial change with emphasis both on analysis of the impact of innovation and on the interrelatedness of industries viewed through the process of innovation. |
| a technological improvement raises productivity: The Future of Productivity OECD, 2015-12-11 This book addresses the rising productivity gap between the global frontier and other firms, and identifies a number of structural impediments constraining business start-ups, knowledge diffusion and resource allocation (such as barriers to up-scaling and relatively high rates of skill mismatch). |
| a technological improvement raises productivity: Economics for B.A. Students Semester I ( As per NEP) UP, 1/e Ahuja H.L., This textbook has been conceptualized to meet the need of B.A. First Semester students of Economics as per Common Minimum Syllabus prescribed for all Uttar Pradesh State Universities and Colleges under the recommended National Education Policy 2020. Maintaining the traditional approach to the subject, this textbook comprehensively covers first semester paper Principles of Microeconomics. This textbook acquaints the students with the important concepts of microeconomics such as demand, supply & market equilibrium, theory of consumer's behaviour, theory of production & cost, theory of firm & pricing in perfect competition, price & output under monopoly & imperfect competition, theory of distribution and lastly welfare economics & economic efficiency |
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| a technological improvement raises productivity: Evolutionary Economics and the New International Political Economy John De la Mothe, Gilles Paquet, 1996 Evolutionary economics focuses on the theory of the firm, organizational behavior and the role of technological change to reassess in a non-orthodox way the factors which motivate firms and individuals on a national and international level. With the heightened level of economic interaction, modern socio-economies are increasingly being shaped by their trade patterns and their innovation activities. In recent years it has become equally clear that standard neo-classical and fashionable public choice approaches to trade and economic growth are incapable of explaining the current drift of capitalist economies, or of guiding, in any practical way, the formulation of either publication innovation and trade policies or corporate strategies. The evolutionary approach is gaining currency amongst academics in business and management studies, as it embraces political and philosophical debates about the economy. This text brings together leading authorities in the field to examine and explain in a lucid, clear andauthoritative way the changing nature of relations within and between national economies. |
| a technological improvement raises productivity: NBER Macroeconomics Annual 2002 Ben S. Bernanke, 2003 Current issues in macroeconomics. |
| a technological improvement raises productivity: Advanced Economic Theory HL Ahuja, 2017 This authoritative and comprehensive text is an advanced treatise on microeconomics. Featuring simplified mathematical treatment, the book covers a wide spectrum of theories and concepts aimed at effective understanding of advanced economic theory. This revised edition explores further the concept of economic efficiency and the concept of utility and its critique by Prof. Amartya Sen. It further includes an incisive analysis of Hicksian and Slutsky substitution effect. The revision also includes important distinctions and critical analysis of several functions expositing the latest developments in the field. |
| a technological improvement raises productivity: Development Economics HL Ahuja, 2016 A result of more than four decades of teaching experience, this book deals with the problems of economic growth, development and eradication of poverty and unemployment. The book also includes an analytical study of important issues of environment and sustainable development. The book not only explains the models and theories of economic growth but also critically evaluates their relevance to developing countries. A major highlight of discussion in the context is the exploration of the widely accepted Amartya Sens Capability Approach to development. |
| a technological improvement raises productivity: Technical Papers , 1959 |
| a technological improvement raises productivity: Introductory Macroeconomics & Indian Economic Development ( A Textbook for Class XII) Ritvik Tolumbia, 2020-04-22 This Economics Textbook is designed to provide comprehensive coverage of the syllabus for students, presented in a logical and systematic manner. It includes numerous diagrams and schedules with clear explanations, making complex concepts easy to understand. Additionally, to help students go beyond the basic knowledge of the subject matter, 'An Extra Mile' section is included at the end of each chapter. The exercises are structured in a way that follows the examination pattern and includes various types of questions such as remembering, reason-based, previous year CBSE questions, information-based and concept-based questions, including NCERT questions. With these features, this textbook is an ideal resource for students who want to excel in Economics. |
| a technological improvement raises productivity: The Fourth Industrial Revolution Klaus Schwab, 2017-01-03 The founder and executive chairman of the World Economic Forum on how the impending technological revolution will change our lives We are on the brink of the Fourth Industrial Revolution. And this one will be unlike any other in human history. Characterized by new technologies fusing the physical, digital and biological worlds, the Fourth Industrial Revolution will impact all disciplines, economies and industries - and it will do so at an unprecedented rate. World Economic Forum data predicts that by 2025 we will see: commercial use of nanomaterials 200 times stronger than steel and a million times thinner than human hair; the first transplant of a 3D-printed liver; 10% of all cars on US roads being driverless; and much more besides. In The Fourth Industrial Revolution, Schwab outlines the key technologies driving this revolution, discusses the major impacts on governments, businesses, civil society and individuals, and offers bold ideas for what can be done to shape a better future for all. |
| a technological improvement raises productivity: Modern Economics An Analytical Study, 20th Edition Ahuja H.L., 2016 In its 20th edition, this trusted definitive text is a comprehensive treatise on modern economics. It discusses in detail microeconomics, macroeconomics, monetary theory and policy, international economics, public finance and fiscal policy and above all economics of growth and development. The book has been exhaustively revised to provide students an in-depth understanding of the fundamental concepts and is streamlined to focus on current topics and developments in the field. |
| a technological improvement raises productivity: Principles of Microeconomics: A New-Look Textbook of Microeconomic Theory,22e Ahuja H.L., This most popular and proven text takes a further lead with this revision by aligning its contents with the prescribed UGC model curriculum and new Choice Based Credit System (CBCS) syllabus. The book provides carefully tailored content for undergraduate courses in economics across a range of academic disciplines. |
| a technological improvement raises productivity: Macroeconomics (With Study Guide Cd-rom) Jagdish Handa, 2010-09-24 This book presents the stylized facts on the important variables (output, inflation, money supply and interest rates, etc.) of the macro economy and uses them to differentiate how well particular economic theories perform or fail to do so. On the determination of aggregate demand, this book presents two approaches: the traditional IS-LM analysis under the assumption that the money supply is exogenous because the central bank uses its monetary policy to control it, and the emerging IS-IRT analysis under the assumption that the interest rate is the exogenous monetary policy variable set by the central bank to manipulate aggregate demand in the economy. The IS-IRT analysis is important for the macro analyses of many economies, yet is totally neglected in most textbooks on macroeconomics. The chapter on Paradigms in Economics introduces students to the heritage of ideas in macroeconomics, and the evolution of ideas and approaches over the last two centuries. It also provides the justification for the simultaneous relevance of both Classical ideas and Keynesian ones. The two growth theory chapters go beyond the Solow growth model to cover the broad evolution of growth from Malthus's theory to the present endogenous approaches, and the link between money supply, inflation and growth over very long periods. |
| a technological improvement raises productivity: Globalization and Inequality Elhanan Helpman, 2018-08-06 One of the world’s leading experts on international trade explains that we must look beyond globalization to explain rising inequality. Globalization is not the primary cause of rising inequality. This may come as a surprise. Inequality within nations has risen steadily in recent decades, at a time when countries around the world have eased restrictions on the movement of goods, capital, and labor. Many assume a causal relationship, which has motivated opposition to policies that promote freer trade. Elhanan Helpman shows, however, in this timely study that this assumption about the effects of globalization is more myth than fact. Globalization and Inequality guides us through two decades of research about the connections among international trade, offshoring, and changes in income, and shows that the overwhelming conclusion of contemporary research is that globalization is responsible for only a small rise in inequality. The chief causes remain difficult to pin down, though technological developments favoring highly skilled workers and changes in corporate and public policies are leading suspects. As Helpman makes clear, this does not mean that globalization creates no problems. Critics may be right to raise concerns about such matters as cultural autonomy, child labor, and domestic sovereignty. But if we wish to curb inequality while protecting what is best about an interconnected world, we must start with a clear view of what globalization does and does not do and look elsewhere to understand our troubling and growing divide. |
| a technological improvement raises productivity: Rescuing Democracy Paul E. Smith, 2016 This book proposes a new institution - the 'People's Forum' - to enable democratic governments to effectively address long-running issues like global warming and inequality. It would help citizens decide what strategic problems their government must fix, especially where this requires them to suffer some inconvenience or cost.The People's Forum is first based on a new diagnosis of government failure in democracies. The book tests its own analyses of government failure by seeing whether these might help us to explain the failures of particular democracies to address (and in some cases, to even recognize) several crucial environmental problems. The essential features of a new design for democracy are described and then compared with those of previous institutional designs that were also intended to improve the quality of democratic government. In that comparison, the People's Forum turns out to be not only the most effective design for developing and implementing competent policy, but also the easiest to establish and run. The latter advantage is crucial as there has been no success in getting previous designs into actual trial practice. It is hoped that this book may inspire a small group to raise the money to set up and run the People's Forum. Then, as citizens see it operating and engage with it, they may come to regard the new Forum as essential in helping them to deliberate long-running issues and to get their resulting initiatives implemented by government. Smith also discusses how the People's Forum must be managed and how groups with different political ideologies may react to it.An Afterword sets out the method by which this design was produced, to help those who might want to devise an institution themselves. The new concepts in environmental science that the book develops to test its diagnosis are applied in an Appendix to outline crucial options for the future of Tasmania. Similar options apply to many countries, states and provinces. As indicated above, those choices are currently beyond the capacity of democratic governments to address and in some cases, even to recognize. But the People's Forum may lift them out of that morass. |
| a technological improvement raises productivity: Technology and the Future of Work Bent Greve, 2017-11-24 Changes in the labour market demand new solutions to mitigate the potentially dramatic wiping away of jobs, and this important book offers both analysis and suggestions for change. Bent Greve provides a systematic and vigorous assessment of the impact of new technology on the labour market and welfare states, including comprehensive analysis of the sharing and platform economies, new types of inequality and trends of changes in the labour market. |
| a technological improvement raises productivity: Macroeconomics in the Global Economy Jeffrey Sachs, Felipe Larraín B., 1993 Takes an open economy approach to macroeconomics, and includes macro theory at work in Russia, Poland and Bolivia.* a focus throughout the book on the global economy and the international aspects of macroeconomics recognizes that all economies in the world are linked through international markets for goods, services, and capital. Open-economy models are used throughout the book. * the ways that countries differ in their important macroeconomic institutions (such as in the patterns of wage setting) are carefully examined, and then those institutional differences are related to observed differences in macroeconomic performance. * recent advances in macroeconomic theory are covered, particularly regarding the role of expectations; the intertemporal choices of households, firms, and the government; and the modern theory of economic policy, including the problems of time consistency and international policy coordination. * boxed features examine topics of interest including Social Security and Saving, The Central Bank and Politics, Currency Convertibility, The Sacrifice Ratio and the Reagan Disinflation, and Social Development and the Debt Crisis. * each chapter concludes with |
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| a technological improvement raises productivity: Realizing Decent Work in Asia , 2006 Highlights the opportunities and challenges for realizing decent work as the main pathway out of poverty and for creating a more productive and equitable society in Asia. Emphasizes strategic partnerships and calls upon governments, business, trade union leaders and relevant national, international and regional organizations to come together, in close cooperation with other stakeholders such as youth organizations, to make decent work a reality in Asia. |
| a technological improvement raises productivity: Redesigning Human Systems Mumford, Enid, 2002-07-01 Organizational change is becoming increasingly complex, challenging and difficult to handle as technology advances. And there is a need to discuss how it can be both more effectively managed by large and small organizations, while at the same time the strategies for changes are based on ethical notions of democracy and participation. Redesigning Human Systems assists those interested in and responsible for the management of major change within organizations, and provides the theories and values that should be adhered to in order to achieve that change successfully and effectively. |
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| a technological improvement raises productivity: Education, Skills, and Technical Change Charles R. Hulten, Valerie A. Ramey, 2019-01-11 Over the past few decades, US business and industry have been transformed by the advances and redundancies produced by the knowledge economy. The workplace has changed, and much of the work differs from that performed by previous generations. Can human capital accumulation in the United States keep pace with the evolving demands placed on it, and how can the workforce of tomorrow acquire the skills and competencies that are most in demand? Education, Skills, and Technical Change explores various facets of these questions and provides an overview of educational attainment in the United States and the channels through which labor force skills and education affect GDP growth. Contributors to this volume focus on a range of educational and training institutions and bring new data to bear on how we understand the role of college and vocational education and the size and nature of the skills gap. This work links a range of research areas—such as growth accounting, skill development, higher education, and immigration—and also examines how well students are being prepared for the current and future world of work. |
| a technological improvement raises productivity: New Product Technology, Accumulation, and Growth Faruk A. Khan, 2006 This paper asks whether new technological capacity for producing and exporting additional products provides incentives for greater capital accumulation, without being fully reflected in a higher rate of total factor productivity (TFP) growth. Using a highly disaggregated data set of each country's trade flows into the United States, the author constructs a direct and independent measure of technological improvements for each country over time based on the number of new product varieties exported to the United States. The author shows, in a panel data setting, that acquiring the technological capacity for producing new products stimulates more rapid capital accumulation in developing countries, even after holding fixed the rate of TFP growth. His findings provide evidence against the alternative view that technological improvements are essentially unimportant: a view based on the findings of Young (1995) and others that instances of spectacular economic growth have been associated with unspectacular rates of TFP growth. The author provides a model to show how an expansion in the technological capacity for producing additional products can lead to more rapid factor accumulation, without necessarily improving measured TFP. His findings suggest that while rapid accumulation of physical and human capital may have characterized the East Asian growth experience, these gains were stimulated by stellar improvements in technological capacity. |
| a technological improvement raises productivity: Handbook on the Economics of Natural Resources Robert Halvorsen, David F. Layton, 2015-02-27 The topics discussed in the Handbook on the Economics of Natural Resources are essential for those looking to understand how best to use and conserve the resources that form the foundation for human well-being. These include nonrenewable resources, mod |
| a technological improvement raises productivity: Economic Growth Quamrul H. Ashraf, David N. Weil, 2024-10-30 Why are some countries rich and others poor? This leading text introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical evidence relates to new and old theoretical ideas, Economic Growth provides students with a complete introduction to the discipline and the latest research. In addition to thorough updates to the data throughout the book, this fourth edition responds to new research in the field since the last edition. Major changes include: new material on labor’s share of income updated material on health and education updated material on the impact of trade on productivity a heavily revised chapter on government, including an expanded section on legacy effects of colonialism a heavily revised chapter on income inequality, including an expanded section on mobility a heavily revised chapter on culture, including an expanded section on persistent effects of geographical factors updated material on climate change, including an expanded discussion of outcomes and policies related to global warming updated online learning resources With its comprehensive and flexible organization, Economic Growth is ideal for a wide array of courses, including undergraduate and graduate courses in economic growth, economic development, macroeconomic theory, applied econometrics, and development studies. |
| a technological improvement raises productivity: International Macroeconomics Stephanie Schmitt-Grohé, Martín Uribe, Michael Woodford, 2022-09-06 An essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elegant treatment of real-world international macroeconomic problems, incorporating the latest economic research while maintaining a microfounded, optimizing, and dynamic general equilibrium approach. This one-of-a-kind textbook introduces a basic model and applies it to fundamental questions in international economics, including the determinants of the current account in small and large economies, processes of adjustment to shocks, the determinants of the real exchange rate, the role of fixed and flexible exchange rates in models with nominal rigidities, and interactions between monetary and fiscal policy. The book confronts theoretical predictions using actual data, highlighting both the power and limits of given theories and encouraging critical thinking. Provides a rigorous and elegant treatment of fundamental questions in international macroeconomicsBrings undergraduate and master’s instruction in line with modern economic researchFollows a microfounded, optimizing, and dynamic general equilibrium approachAddresses fundamental questions in international economics, such as the role of capital controls in the presence of financial frictions and balance-of-payments crisesUses real-world data to test the predictions of theoretical modelsFeatures a wealth of exercises at the end of each chapter that challenge students to hone their theoretical skills and scrutinize the empirical relevance of modelsAccompanied by a website with lecture slides for every chapter |
| a technological improvement raises productivity: Pakistan International Monetary Fund. Middle East and Central Asia Dept., 2016-01-12 This Selected Issues paper reviews Pakistan’s tax regime, evaluates the level and composition of tax revenues, and estimates tax buoyancy and efficiency. Despite recent progress under the program, Pakistan’s tax revenue remains very low relative to comparator developing countries and the tax effort expected for the country’s level of development. This reflects narrow tax bases, overgenerous tax concessions and exemptions, weak and fragmented revenue administrations, and structural features of the economy. The findings suggest that unlocking tax revenue potential requires broadening tax bases, strengthening revenue administration and taxpayer compliance, eliminating distortionary tax expenditures, and rationalizing tax policy for greater efficiency and equity through a comprehensive and front-loaded reform agenda. |
| a technological improvement raises productivity: Technology Shocks and Aggregate Fluctuations Mr.Pau Rabanal, Mr.Jordi Gali Garreta, 2004-12-01 Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures. |
| a technological improvement raises productivity: Challenges to Globalization Robert E. Baldwin, L. Alan Winters, 2004-04-16 People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates. |
| a technological improvement raises productivity: Strategy for R&D: Studies in the Microeconomics of Development Thomas A. Marschak, Thomas Keith Glennan, Robert S. Summers, 2013-12-14 89 TABLE 5 USE OR PLANNED USE OF MAJOR ENGINES IN AIR FORCE AND NAVY AIRCRAFT a Engine Air Force Aircraft Navy Aircraft F-80, T-33, XF-92, YB-61, AJ2, F9F-7, TV-I, J-33 YB-62, F-94 (A, B), TM- T2-V, P4M-I 61 (tactical missile) X-3, XF-88 F3D, F2H, F6U, F7U J-34 F-84 (B, C, D, E, G, H) J-35 FJ-I B-45, XB-51, XF-9J, B-36, J-47 B-47, F-86 (D, F, K) J-48 F-94C F9F J-57 B-52, YB-60, F-lOO, A3D, F4D, F8U F-I02A, F-I0l (A, B), SNARK, F-105A, F-I07, KC-135A, B-57D, X-16 F-84F, B-57 FIIF, A4D, FJ-3, J-65 FJ-4, F9F YQ-l, YQ-2, T-37 J-69 SNARK, YF-89E, B-66 J-71 F-I01, F-I02B, F-I05, J-75 F-I07 F8U, XP6M B-58, F-I04, F-IOIA (see J-79 note c, Table 4) F5D, FIIF, A3J, F4H T-34 C-133A, YC-97J, YC-12IF R7V-2 XF-84H T-40 R3Y, XFY, A2D YC-130, YC-131C T-56 Note: a Aircraft in which engine was used or was planned to be used. For at least one (and generally more) of the aircraft in the list associated with a given engine, the decision to use the engine was made when the engine was in the final stages of develop ment. (In the case of the J -57, J-79, andJ-75 this is true of nearly all the aircraft listed.) No Jist extends beyond 1956. Summary For an engine developed independently of an airframe the de veloper may constrain the performance, weight, and size of an engine at the start. |
| a technological improvement raises productivity: Handbook on the History of Economic Analysis Volume III Gilbert Faccarello, Heinz D. Kurz, 2016-07-27 This unique troika of Handbooks provides indispensable coverage of the history of economic analysis. Edited by two of the foremost academics in the field, the volumes gather together insightful and original contributions from scholars across the world. The encyclopaedic breadth and scope of the original entries will make these Handbooks an invaluable source of knowledge for all serious students and scholars of the history of economic thought. |
| a technological improvement raises productivity: The Theory of Economic Integration (Routledge Revivals) Bela Balassa, 2013-05-13 First published in 1962, The Theory of Economic Integration provides an excellent exposition of a complex and far-reaching topic. Professor Balassa has been remarkably successful in covering so much ground with such care and balance, in a treatment which is neither in any way abstruse nor unnecessarily technical. His book will interest economists in Europe by reason of its subject and treatment, but it is also a valuable and reliable textbook for students tackling integration as part of a course of International Economics and for those studying Public Finance. He distinguishes between the various forms of integration (free trade area, customs union, common market, economics union, and total integration). In addition, he applies the theoretical principles to current projects such as the European Common Market and Free Trade Area, and to Latin American integration projects. In offering this theoretical study, the author builds on the conclusions of other writers, but goes beyond this in providing a unifying framework for previous contributions and in exploring questions that in the past received little attention – in particular, the relationship between economic integration and growth (especially the interrelationship between market size and growth, and the implications of various factors for economic growth in an integrated area). |
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