Using aircraft location data to estimate current economic activity

Aviation is a key sector of the economy, contributing at least 3% to gross domestic product (GDP) in the UK and the US. Currently, airline performance statistics are published with a three month delay. However, aircraft now broadcast their location in real-time using the Automated Dependent Surveillance Broadcast system (ADS-B). In this paper, we analyse a global dataset of flights since July 2016. We first show that it is possible to accurately estimate airline flight volumes using ADS-B data, which is available immediately. Next, we demonstrate that real-time knowledge of flight volumes can be a leading indicator for aviation’s direct contribution to GDP in both the UK and the US. Using ADS-B data could therefore help move us towards real-time estimates of GDP, which would equip policymakers with the information to respond to shocks more quickly

Economic activity accelerates

Economic conditions

Economic Activity and Institutions

This paper is one of two working papers concerning the waste management sector transition project run from MERIT under the direction of René Kemp. This paper examines some of the numerous meanings and interpretations associated with the words “institution” and “institutions” and the different levels at which the two notions are employed. Institutionalism, institutionalization, institutional change and related terms are discussed followed by an examination of the links between “institutionalism” and the discipline of economics. The analytical, policy and political implications of the institutionalist approach are discussed and ways in which the institutionalist approach may be applied to changes in the economy during transitions are explored.Institutions, Institutional Analysis, Scale, Policy

Economic activity weakens

Economic indicators ; Economic conditions - United States

Expansion in economic activity

Economic conditions ; Industrial productivity

Economic activity expanding more rapidly

Economic conditions

Political intervention in economic activity

This paper proposes a political economy explanation of bailouts to declining industries. A model of probabilistic voting is developed, in which two candidates compete for the vote of two groups of the society through tactical redistribution. We allow politicians to have core support groups they understand better, this implies politicians are more or less effective to deliver favors to some groups. This setting is suited to reproduce pork barrels or machine politics and patronage. We use this model to illustrate the case of an economy with both an efficient industryand a declining one, in which workers elect their government. We present the conditions under which the political process ends up with the lagged-behind industry being allowed to survive.probabilistic voting, redistribution, survival of inefficient firms, porkbarrels

Money, debt and economic activity

Economic conditions - United States ; Economic indicators

Regional economic activity report 2014

Provides consistent information for each of New Zealand’s 16 regions. This allows us to compare the regions’ economic performance, distinguish their attributes and specialisations, and understand the different roles they play in the New Zealand economy. Summary The 2014 regional economic activity report report shows that nearly all of New Zealand\u27s 16 regions have made good economic progress over the last 12 months, reflecting New Zealand’s recovery after the global financial crisis. Each region provides a different contribution to the New Zealand economy and, while there is diversity, all regions have the potential to attract further investment, improve their living standards and generate high-value economic growth. Most regions experienced job growth over the last year. This is despite the 2013 drought which particularly affected primary production in the North Island. Canterbury has been the fastest growing region over the last two years, driven by the Christchurch rebuild and supported by its primary sector. Actions to enhance regional economic activity and outcomes need to be underpinned by a sound knowledge of each region’s historical trends and its strengths and weaknesses.This report provides comprehensive and comparative information about economic outcomes and the drivers of those outcomes across all regions. In addition, the government, in partnership with local decision-makers, is this year undertaking in-depth economic growth studies of regions such as East Coast, Northland, Bay of Plenty, and Manawatū-Wanganui. Those studies will help the regions prioritise opportunities for growth and identify how to overcome any barriers to that growth. This report highlights several key findings. First, each region has industry specialisations which have developed historically due to natural resource and infrastructure endowments, geographic location and skills. Those specialisations are the chief contributors to the different economic outcomes seen across the regions. Some sectors, such as dairy farming and milk processing, are benefiting from high commodity prices and market growth while others, such as horticulture, have lower returns. Secondly, the report identifies a regional dimension to the economic disparity between Māori and non-Māori. Some of the regions with poorer outcomes are also regions that have a higher proportion of Māori in their populations. The Crown and Māori have entered into an economic growth partnership to improve economic outcomes for Māori and to build economic growth from Māori assets and Māori Inc. This partnership will be delivered regionally and will include Business Growth Agenda actions such as the Māori and Pasifika Trades Training programme. Thirdly, the report shows there is significant diversity in demographic trends across regions, partly in response to relative economic opportunities. New Zealand, like all developed countries, has an ageing population but in some regions and sub-regions the population is ageing at a significantly faster rate than others. There is also disparity in regional shares of international migrants. Local decision-makers face the need to anticipate today how their projected population profiles will impact infrastructure and services demand