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Redefining the Economical Power of Nations

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  • Kiss, Christian

Abstract

This paper is (over the formulas) self explaining . The measurement of economies no longer by GDP alone, but by an Index that includes other important factors as well, a So-cial factors relativized GDP. This index cuts out the part of the GDP that is long term fro-zen up by social transfers (using the highly aggregated GINI coefficient). Social factors relativized GDP: GDP – GDP x GINI = K_Index Written differently: (1 – GINI) x GDP = K_Index Inflation indexed Version: (1 – GINI – Inflation) x GDP = K_Index_Infl. Productivity Index: K_Index / Labor Force = K_PROD Inflation indexed Productivity Index: K_Index_Infl. / Labor Force = K_PROD_Infl. Debt-to-K_Index: National debt / K_Index = K_Debt Debt-to-K_Index_Infl: National debt / K_Index_Infl. = K_Debt_Infl.

Suggested Citation

  • Kiss, Christian, 2013. "Redefining the Economical Power of Nations," MPRA Paper 49890, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:49890
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    More about this item

    Keywords

    Economic Indicator; GDP; GNP; GINI; Productivity; Inequality; Income Distribution; Poverty Growth; Poverty Measurement; Macro Models; International Economic Order; International Industrial Order; Econometrics; Econometric Methods; Econometric Modeling; Macroeconometrics; Mathematical Methods; Mathematical Models; Numerical Methods; National Income and Product Account; Economic Growth; Wage; Economic Growth; Multisector Growth; Saving Growth; Aggregate Produc-tivity; Gross National Product; Gross Domestic Product; Macroeconomic Model; Macroeconomic Time Series; Micro to Macro; National Income Accounting; National Wealth; Econometric Modeling;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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