For economists trying to measure the health of an economy, there are a number of similar sounding but slightly different concepts that can confuse those without a background in macroeconomics. Two of ...

AGGREGATE expenditure is the total amount spent of the economy’s output by all households, firms, foreigners as well as the government. The components of aggregate expenditure consist of household ...

Based on this input-output network and structural models proposed in the literature (Acemoglu et al. 2012, and Baqaee and Farhi 2020), we calculate the impact of a microeconomic shock on aggregate ...

Explore how aggregate demand and GDP connect and differ, using insights from Keynesian economics to understand macroeconomic principles.

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper finds a negative relationship between the employment share of the service sector and the volatility of aggregate ...

Since late 2015, growth in real GDP has consistently exceeded that in real GDI, a prominent alternative measure of aggregate output, with an average difference of about 0.65 percentage point. Is real ...

According to recent macroeconomic studies, microeconomic shocks can generate aggregate fluctuations (the granular hypothesis). I test this idea by studying the variance and tail probability of ...

This paper estimates the potential output (and the output gap) in Chile using several different methodologies. After a structural brake in 1998, the average growth rate of potential output in Chile ...

The red line shows the aggregated direct economic shocks. The blue line and ribbon depict total output reductions after simulating the economic model for two months. The two vertical dashed lines show ...