This paper explores the relationship between output volatility and economic development. We develop a methodology to assess countries’ extent of sectoral diversification. The productive structure of a country tends to be risky when the country (i) specializes in highly volatile sectors, (ii) has high sectoral concentration, and/or (iii) specializes in sectors highly affected by country-specific...

This paper presents an estimation of the fiscal multipliers for Saudi Arabia, conducted by applying local projection (LP) method. It also exploration non-linear features multipliers. The findings showed that (i) consistent with earlier studies, are generally moderate; (ii) investment spending multiplier is larger in magnitude than current multiplier; (iii) non-oil revenue negative; (iv) output ...

Traditional bit-serial multipliers present one or more clock cycles of data-latency. In some situations, it is desirable to obtain the output after only a combinational delay, as in serial adders and subtracters. A serial multiplier and a squarer with no latency cycles are presented here. Both accept unsigned or sign-extended two's complement numbers and produce an arbitrarily long output. They...

Does immigration accelerate sectoral change towards high-productivity sectors? This paper uses the mass displacement of ethnic Germans from Eastern Europe to West Germany after World War II as a natural experiment to study this question. A simple two-sector model of the economy, in which moving costs prevent the marginal product of labor to be equalized across sectors, predicts that immigration...

Does immigration accelerate sectoral change towards high-productivity sectors? This paper uses the mass displacement of ethnic Germans from Eastern Europe to West Germany after World War II as a natural experiment to study this question. A simple two-sector specific factors model, in which moving costs prevent the marginal product of labor to be equalized across sectors, predicts that immigrati...

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement When similar patterns of expansion and contraction are observed across sectors, we call this a business cycle. Yet explaining the similarity and synchronization of these cycles across industries remains a puzzle. Whereas output growth across industries is highly correlated, identifiable shocks, like shoc...

generating effective employment opportunities is one of the principal challenges faced by development planners in iran. if investment projects are undertaken on the basis of sectoral priorities in production and employment, the economic and social problems emanating from unemployment will be reduced, helping the country’s process of development. in this paper, an attempt is made to identify key...

In many multimedia and digital-signal processing (DSP) applications, multipliers are considered to be the basic arithmetic units. These multipliers significantly influence the system’s performance and power dissipation. To achieve high performance, the modified Booth encoding has been widely adopted in parallel multipliers. It reduces the number of partial products through performing multiplier...

4 Non-technical summary 5 7 2 10 2.1 Sectors and aggregation 10 2.2 Relative prices 11 2.3 Real exchange rate and sectoral productivity shocks 12 2.4 Nominal rigidity and aggregate supply 14 3 Autonomous monetary policy 15 4 The currency union 17 4.1 Determination of union-wide output and prices 18 4.2 Currency union’s welfare 19 4.3 Reference member state’s welfare 20 5 Relative performance an...