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Optimization issues of sectoral outputs in economic output

Author

Listed:
  • Yondonjamts, Batsukh
  • Nyamdash, Batsaikhan

Abstract

The traditional methodology uses the real GDP growth as a proxy for the economic growth. Unfortunately this way of calculating economic growth is not taking into account of the sector inequality in the economy (especially in the economy with high degree of natural resource dependency). Therefore, this paper proposes the new approach to optimize the share of sector outputs in the economy which take into account of the inequality.

Suggested Citation

  • Yondonjamts, Batsukh & Nyamdash, Batsaikhan, 2014. "Optimization issues of sectoral outputs in economic output," MPRA Paper 55669, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:55669
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    File URL: https://mpra.ub.uni-muenchen.de/55669/1/MPRA_paper_55669.pdf
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    More about this item

    Keywords

    economic output; elasticity; sector output;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy

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