Macroeconomic effects

Pharmacogenomics will also have potential macroeconomic effects, particularly on productivity, a measure of the average output of an individual. As an individual s productivity increases, output increases (more goods and... 

Quantification of the macroeconomic effects of cellroom closure is extremely difficult. But it is significant that this difficulty arises precisely because the chlor-alkali industry forms the base for such a large proportion of so many diverse sectors of manufacturing industry - and thus of the tax base for national governmental budgets. 

Since the entry into force of the 2nd AVIG/LACI reform in 1996, activation measures have been subject to thorough evaluation. Generally, evaluation was carried out by external researchers contracted by the State Secretariat for Economic Affairs (SECO), but some studies were also financed by the Swiss national science foundation. The SECO contracted two waves of evaluation studies the first wave was based on the observation of the 1997-1999 period and the second one used data from 1999 to 2002/2003. Within these two waves of evaluation studies, it is possible to distinguish between three types of analyses microeconomic impact evaluation of ALMPs evaluation of the performance of regional placement offices and evaluation of the macroeconomic effects of ALMPs. The key results of these studies are discussed next. 

Blanchard, O. J., Gah, J. (2007). The macroeconomic effects of oil price shocks Why are the 2000s so different from the 1970s Centre for Economic Policy Research. Retrieved October, 2010, from http //papers.ssm.com/sol3/papers.cfm abstract id=l 140560. ... 

Doyle L, Noy L (in press) The short-mn natiraiwide macroeconomic effects of the Canterbury earthquakes. New Zealand Economic Papers, Taylor and Erancis... 

The interpretation of the available empirical evidence of the absolute and relative magnitude of pharmaceutical expenditure on an aggregate or macroeconomic level is often prone to the effects of confusing the level of expenditure with the cost or price of care. It is of great value to identify two very important aspects for measuring and interpreting pharmaceutical expenditure. 

Consumer effects Using a free market agricultural assumption, AGSIM (Taylor, 1993) simulations revealed a variety of impacts for various sectors of the economy if atrazine and simazine were not available for use in com and grain sorghum. The livestock and consumer sectors were impacted most negatively. The total effects were projected to be a loss of 1.55 billion annually for atrazine only and 1.75 billion annually if all triazines were canceled. Details concerning macroeconomic and consumer effects have been reported by Carlson (1998). 

In practice, the EU may not face a straight choice between these three options. Where effective sectoral agreements can be secured, these are probably the best first choice but they are unlikely to be easy or quick to negotiate, and may come down to focusing on particular products or subsector markets. Border tax adjustments, similarly, are unlikely to be all or nothing . They would instead be considered in the context of particular industries and products, where a valid case for competitiveness concern was raised, and for which other solutions appeared inappropriate. Output-indexed allocations, similarly, could be considered in some cases, but the more widespread their adoption, the more deleterious would be the impact on the macroeconomic efficiency of C02 controls. 

Many traditional economic analyses concluded that the cost of reducing U.S. greenhouse gas emissions to 1990 levels by 2010 would harm the economy and cost jobs, with carbon dioxide (co2) permits costing 60 per metric ton or more, which would raise energy prices by as much as 40 percent. These results made use of top-down economic models that rely on macroeconomic assumptions about how fast technology changes and are thus especially weak in their ability to characterize the effects of technology. Years earlier, most of these same models had wildly overestimated the price of industrial permits to emit sulfur dioxide that would result from the Clean Air Act restrictions, some by a factor of five or more.1... 

Macroeconomic factors may also alter the effects of the introduction of direct subsidies for organic farming and the conversion process. One example is the United Kingdom, where the introduction of a subsidy in 1995 did not have much impact. In the existing macroeconomic climate, the subsidies were too low to be an incentive to convert. Only when depression hit the conventional farming economy did conversion take off. 

The economic effects of an integrated global market dependent on only a few nations to supply a primary economic input threaten the stability of the global economy. Michael Toman of the Brookings Institute, a Washington, DC, think tank, contends that international economic oil security is determined by two major factors the market power of OPEC and the macroeconomic instability due to price disruptions (Toman 2002). 

This section presents selected results of the calculated scenarios, including the effects on production, exports, consumption, land and labour use and the environmental indicators and concludes by presenting the macroeconomic impacts. The presentation focuses on the results for the primary agricultural and associated processing sectors. Since the main issue addressed is die comparison of the results from applying the two different policy instruments this will be the focus of the analysis. ... 

The macroeconomic consequences of all four preference and policy scenarios are small (Table 3). The effect on real GDP varies between a fall of 0.01% and 0.08%, i.e. the consequences for the economy as a whole are small. But the magnitude of change in the different scenarios does reveal that there are differences in the relative cost to society. 

Research studies found that risk premiums fall in an environment of economic prosperity and rise when conditions are poor. Lower-rated corporations usually have less diversified sources of income and thus are more sensitive to changes in the macroeconomic situation than higherrated ones. Risk aversion increases with rising uncertainty and leads to higher expected compensation in the form of additional yield versus government bonds. Hence the effects of a company s individual actions to increase bondholder value can only inaccurately be measured. On the other hand, the spreads based on prices of the financial markets have anticipative character and reflect the expectations of a broad average of market participants. 

As the deliberations presented herein show, a supply chain s social capital is not much discussed in theory or applied in business practice. It seems that tradition and the effective promotion of the macroeconomic approach to social capital have dominated the application of any relevant theories in practice in the public sector. This is probably why social capital is regarded by business environments as an unknown and uncontrollable external factor of company and supply chain operation. A similar situation is found with respect to the social capital of companies. It was concluded, too quickly and easily, that this invisible resource of individual organisations could not be accurately measured, and that one could therefore not influence its structure or level in order to adjust it to the needs of supply chain management. 

Countries that have successful fiscal rules include Brazil, where the law has fostered the credibility of the government s policies, and Chile, where fiscal rules had a role in protecting social spending in 2004. Automatic stabilizers tend to be most effective in industrial countries. Failures of fiscal rules in Argentina and elsewhere in Latin America are among the factors that contributed to macroeconomic instability (Singh and others 2005). An example of a fiscal rule that has not been fully enforced is the European Union s Stability and Growth Pact. 

Macroeconomic shocks have been a significant feature for many countries, for example, the 1997 financial crisis in East Asia and its spillover effects, crises in Russia and Turkey, and repeated debt or financial crises in Latin America. These shocks have been influential in shaping safety net policy in a number of the countries, with many current safety net programs having begun as initiatives to ameliorate crises. 

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