28 May 2016
by Jim Rose
in economic growth, economic history, labour economics, labour supply, macroeconomics, politics - Australia, politics - New Zealand, politics - USA, public economics
Tags: Australia, British economy, Canada, Eurosclerosis, France, Germany, Japan, labour productivity, measurement error, taxation and labour supply
This data tells more of a story than I expected. Firstly, New Zealand has not been catching up with the USA. Japan stopped catching up with the USA in 1990. Canada has been drifting away from the USA for a good 30 years now in labour productivity.
Data extracted on 28 May 2016 05:15 UTC (GMT) from OECD.Stat from OECD Compendium of Productivity Indicators 2016 – en – OECD.
Australia has not been catching up with the USA much at all since 1970. It has maintained a pretty consistent gap with New Zealand despite all the talk of a resource boom in the Australia; you cannot spot it in this date are here.
Germany and France caught up pretty much with the USA by 1990. Oddly, Eurosclerosis applied from then on terms of growth in income per capita.
European labour productivity data is hard to assess because their high taxes lead to a smaller services sector where the services can be do-it-yourself. This pumps up European labour productivity because of smaller sectors with low productivity growth.
10 Mar 2016
by Jim Rose
in labour economics, labour supply
Tags: Australia, British economy, Canada, Denmark, France, Germany, Japan, Sweden, taxation and labour supply, working hours
Them Continentals certainly are a bit work-shy especially the Nordics. All of them are pretty much afraid to put in a long week. Then again they do face rather high taxes on labour so what would you expect? The Japanese are still working themselves to death.
Data extracted on 09 Mar 2016 22:25 UTC (GMT) from OECD.Stat – OECD Better Life Index 2015.
24 Feb 2016
by Jim Rose
in development economics, economic history, entrepreneurship, financial economics, growth miracles, industrial organisation, rentseeking, survivor principle
Tags: billionaires, China, entrepreneurial alertness, Hong Kong, Japan, superstar wages, superstars, Taiwan
Surprisingly few billionaires in any of the 4 countries obtained their wealth through political connections. Founding a company seems to be still the path of great wealth even in Japan these days. Hong Kong is a financial centre so the large number of billionaires in its financial sector is no surprise.
Source: Caroline Freund and Sarah Oliver, The Origins of the Superrich: The Billionaire Characteristics Database (2016).
20 Feb 2016
by Jim Rose
in applied welfare economics, economics of regulation, fiscal policy, labour economics, politics - Australia, politics - New Zealand, politics - USA, welfare reform
Tags: British economy, Canada, Denmark, Finland, France, Germany, Italy, Japan, Norway, social insurance, Sweden, welfare state
Mandatory and voluntary private social expenditure makes a big difference to the degree of social insurance in some countries but not others. The calculation of these numbers in purchasing power parity would be much more interesting.
Source: OECD Income Distribution database.
20 Feb 2016
by Jim Rose
in fiscal policy, income redistribution, labour economics, politics - Australia, politics - New Zealand, politics - USA, Public Choice, welfare reform
Tags: British economy, Denmark, Finland, France, Germany, Italy, Japan, Norway, social insurance, Sweden, welfare state
Some welfare states are much more targeted. Australia has the most targeted welfare state in terms of public social benefits paid in cash to the bottom quintile (Q1) of income earners.
Source: OECD Income Distribution database.
02 Feb 2016
by Jim Rose
in economic history, politics - Australia, politics - New Zealand, politics - USA, Public Choice, rentseeking
Tags: agricultural subsidies, Australia, Canada, cultural economics, Japan
Source: Agricultural policy – Agricultural support – OECD Data.
Agricultural support is defined as the annual monetary value of gross transfers to agriculture from consumers and taxpayers arising from government policies that support agriculture, regardless of their objectives and economic impacts.
01 Feb 2016
by Jim Rose
in politics - Australia, politics - New Zealand, politics - USA, public economics
Tags: Australia, Canada, Denmark, France, Germany, Italy, Japan, Social Security taxes, taxation and labour supply, the dish economy
31 Jan 2016
by Jim Rose
in politics - Australia, politics - New Zealand, politics - USA, public economics
Tags: Australia, British economy, Canada, Denmark, France, Germany, Italy, Japan, New Zealand, social insurance, Social Security taxes, taxation and labour supply
Ordinary French, Germans, Italians and Danish pay much higher marginal tax rates and that is before their high rates of GST.
Data extracted on 30 Jan 2016 03:08 UTC (GMT) from OECD.Stat.
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