About the Book
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 25. Chapters: ACCRA Cost of Living Index, Affine pricing, AREMOS, Asset turnover, Average propensity to consume, Average propensity to save, Base point pricing, Bayesian econometrics, Bayesian vector autoregression, Becker-DeGroot-Marschak method, Bequest value, Bootstrapping (finance), CBV-Total-Index, Censored regression model, Dynamic factor, Econometric Society, Economic complexity index, Economic Scholars Program, Error correction model, Female economic activity, Financial econometrics, Geary-Khamis dollar, Generalized Tobit, General government sector, Gerschenkron effect, Gross loan, Gross merchandise volume, Gross national product, Housing Affordability Index, Johansen test, John Graham (economist), Kauffman Index of Entrepreneurial Activity, L. Wayne Gertmenian, Limited dependent variable, Methodology of econometrics, Method of simulated moments, Mixed data sampling, Observable variable, Observational equivalence, Order condition, Pensim2, Prais-Winsten estimation, Proxy (statistics), Quasi-maximum likelihood, Randolph Cohen, Review of Economics and Statistics, Sargan test, Scottish Index of Multiple Deprivation, Single-equation methods (econometrics), Spatial econometrics, Structural break, Structural estimation, Tail value at risk, Target costing, Target income sales, Test for structural change, Theoretical ex-rights price, The Econometrics Journal, Time-weighted average price, Top-coded, Trade weighted index, Trailing twelve months, TRIN (finance), Truncated regression model, Volume index, Weakly additive, Weak axiom of cost minimization, Yield gap, Yield spread, Zillmerisation. Excerpt: Gross national product (GNP) is the market value of all the products and services produced in one year by labour and property supplied by the residents of a country. Unlike Gross Domestic Product (GDP), which defines production based on the geographical location of production, GNP allocates production based on ownership. GNP does not distinguish between qualitative improvements in the state of the technical arts (e.g., increasing computer processing speeds), and quantitative increases in goods (e.g., number of computers produced), and considers both to be forms of "economic growth." Basically, GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country. GNP measures the value of goods and services that the country's citizens produced regardless of their location. GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living, all other things being equal. Gross National Product (GNP) is often contrasted with Gross Domestic Product (GDP). While GNP measures the output generated by a country's enterprises (whether physically located domestically or abroad) GDP measures the total output produced within a country's borders - whether produced by that country's own local firms or by foreign firms. When a country's capital or labour resources are employed outside its borders, or when a foreign firm is operating in its territory, GDP and GNP can produce different measures of total output. In 2009 for instance, the United States estimated its GDP at $14.119 trillion, and its GNP at $14.265 trillion. The United States used GNP as its primary measure of total economic activity before 1991, when it began to use GDP. In making the switch, the Bureau of Economic Analysis (BEA) noted both that GDP provided an easier comparison of other mea
