Depending on the underlying technical efficiency measure, economic efficiency can be decomposed multiplicatively or additively. The source code, associated documentation, and replication notebooks are available online.The book discusses the concept of economic efficiency at the firm level, comparing observed to optimal economic performance, and its decomposition according to technical and allocative criteria. The package is a self-contained set of functions that can be used for individual learning and instruction. ECONOMIX LIBRERIA GHANDI SOFTWAREAn accompanying software programmed in the open-source Julia language is used to solve the models. Empirically, it shows how the alternative models can be implemented by way of Data Envelopment Analysis. Analytically, the book relies on the economic theory of duality as guiding framework. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods.This book unifies and extends the definition and measurement of economic efficiency and its use as a real-life benchmarking technique for actual organizations. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The reader learns why this standard measure of the size of a countrys economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our livesbut that hardly anyone actually understands.Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. financial industry show its fastest expansion ever at the end of 2008just as the worlds financial system went into meltdown? And why was Greeces chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his countrys economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. economy increase by 3 percent on one day in mid-2013or Ghanas balloon by 60 percent overnight in 2010? Why did the U.K. 7466e2b3-5b7a-3ecf-87d1-0d4d4a7034ac GDP How GDP came to rule our livesand why it needs to changeWhy did the size of the U.S. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods. How GDP came to rule our livesand why it needs to changeWhy did the size of the U.S.
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