Population Change and Economic Growth Research Paper

Population Change and Economic Growth - Research Paper Example The instantaneous rate of growth of GDP is expressed as the sum of rates of growth of variables on the right hand side of the above equation; hence, logarithms are introduced in the equation. The rate of GDP per capita is thus expressed as: The base data for the study are taken from Statistics Canada National Income and Expenditure Accounts for GDP (available from 1961), and the population series from the Statcan (available from 1971). Both data series have been extended backwards from 1951 using "old-onto-new" splicing. The labor force source population, as defined in the labor force survey, is the non-institutional population of 15 years of age, or older. Based on the growth rate equation defined above, the data for half a century has been generated for historical analysis, and with which forecasts have been compared. Historical trends indicate that GDP growth rate was highest in 1960s touching 5.2%, and lowest in 1980s at 2.33%. The study forecasted GDP for 2001-2011 as 2.52, which is quite near to the actual of 2.7%, as reported in the World Fact Book for Canada (2008). A high GDP growth rate in 1960s is explained by the fact that baby boomers along with augmented female participation added to the workforce. During 1980s it is worth noting that both the labor workforce and employment rate declined. It is also of interest to note that the population growth along with labor force source population continued to decline since 1950s. By 1980s, the inflow of younger people joining the labor workforce and the participation rate of older people declined. The net immigration

Risk Management - Article Review Example | Topics and Well Written Essays - 500 words

Risk Management - Review - Article Example He defines moral hazard as a case where a person is responsible for another’s interests but puts his or her interests first. He matches this with the CEOs who put their interests first but are responsible for the interests of the taxpayers. The CEOs give themselves excessive bonuses out of the funds they manage. The subprime scandal is one case he cites where he addresses how banks issued mortgages with the aim of holding them to maturity. It became a disaster and a contributing factor to the financial crisis because the banks used to make losses due to defaulting on the mortgages. More so, the banks used to sell the mortgages to other parties without considering whether they will default or not, as they were only interested in the initial payments received (Kelvin, 2009). The subprime was, as such, a greed game dubbed as â€Å"privatizing gains and socializing losses.† He, however, does not blame the CEOs only, but also cites the failure of financial risk management. He says that the assumptions made in risk management were not viable, for instance, assuming that financial risks follow the Gaussian distribution, assumptions involving market liquidity and so forth. More so, there were modelling errors in risk models that focused too much on the normal market conditions. The article has content relating to risk management and gives several examples of scandals and disasters happening to particular companies, and most of them leading to financial losses. The financial crisis is the basis for all of them. Several concepts of risk management are applied in the cases provided. Some of the corporations mentioned made some deliberate efforts to counter the losses, and took other measures to recover from the economic shock. Thus, there is risk response and recovery. Response is where the organization counters the disaster, and recovery is the restoration to the