Term Paper on "Mortgage Crisis"
Term Paper 4 pages (1143 words) Sources: 1+ Style: APA
[EXCERPT] . . . .
GDP growth in the developed world. The fundamental question that will be addressed is: why has the U.S. GDP growth been consistently higher than in the major economic powers of the European Union since 1982? A secondary question is: why is the unemployment rate (or more accurately, the percentage of people of working age employed) so much higher in the United States than in the major countries of Western Europe?This analysis will focus primarily on France, Germany and Italy, with some mention of the United Kingdom. The reason for these three countries is (1) they represent the largest GDP in the European Union, (2) the economic policies of France, Germany and Italy have been roughly similar, and (3) by focusing on these countries, the analysis will not be skewed by the newly-emerging economic powers in Europe, including Spain, Portugal, Eire, Poland, Hungary and the Czech Republic. Although the growth of these countries has been a good deal higher than the rest of the European Union, they emerged from a much smaller base.
The primary focus on this analysis is relative productivity per person, supplemented by an analysis of population growth and tax policies. Although productivity per person can be expressed fairly easily as GDP per capita, there are components of productivity which help the economist understand the underlying causes of productivity differences.
Government policy plays an important role in all five countries analyzed. Of particular interest are tax policies, employment rigidities (how easy/hard is it to hire or fire an employee?), employee benefits costs, mandatory (statutory) retirement age, and education policy. In addition, the amoun
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The average productivity per person in the United States is $41,640, measured in 2006 (Economist). That figure compares to the following GDP per person in the countries analyzed:
Country
GDP/Person
PPP GDP per Person (Antweiler)
United States
United Kingdom
France
Germany
Italy
This difference in productivity per person has been maintained and even widened since 1982, when Ronald Reagan took office and the employment rate in the United States started to climb. The key contributors to this difference have been:
More years worked in the U.S. The average retirement age in the U.S. is 65, whereas it ranges between 57 (Italy) and 62 (Germany). In Germany, the average college student graduates at age 27. The German worker therefore only has 35 working years, as compared to the average American's 43 years; that marks a difference of 38% longer working time for college graduates.
Better education in the U.S. Germany only has 46% of its students enrolled in tertiary (college) institutions, compared to 72% in the U.S. The same is true of the other European countries. The U.S. spends 2.7% of GDP on education, compared to less than 2% in these other countries (Economist).
Lower costs for employment in the U.S.: The social costs associated with employment average over 40% in Germany, Italy and France, whereas they are less than half that in the U.S. (Hahn). These costs make it more expensive to hire employees. The result is that the unemployment rate in the above-mentioned European countries is double that of the U.S. (Economist). In addition, the employment rate in the U.S. is considerably higher than in Europe -- meaning that many more people of working age are in the workforce.… READ MORE
Quoted Instructions for "Mortgage Crisis" Assignment:
“Term Paper topic - mortgage crisis
Your term paper will be evaluated according to the following standards:
A well-defined thesis including the purpose, assumption, or hypothesis of your research.
Differentiation of your paper from any current research.
Logical integration of information to support or disprove your thesis.
Organizational consistency, orderly flow, relevancy, and effectiveness of sequential ideas and paragraphs to your central theme. Grammatically correct construction and correct spelling and punctuation.
Timeliness and scope of research. Submit, on the due date, a thoroughly researched term paper with a minimum of 10 pages, unless otherwise indicated by the instructor. Your topic must deal with a current aspect of the course, and you must submit an initial outline of your research to your instructor for prior approval. Your outline should include the following:
topic of your choice
thesis statement
sample outline and bibliography of references, including articles from professional journals, preferably in the discipline.
The caliber, quality, and depth of research appropriate for the nature of the subject matter and the bibliographic documentation, including particularly the use of articles from professional journals, preferably in the discipline.
Formatting and documentation, including proper citations and references, that conform to the standards in the Manual for *****s by ***** L. Turabian or other equivalent manuals of style. The final paper must:
be typed, double spaced, in 12-point Times New Roman or Arial fonts, with margins no wider than one inch
have footnotes or endnotes with correct citations
have a bibliography of sources used
include, for each reference entry, the author, title, city and state of publisher, publisher*****s name, year, and page numbers
How to Reference "Mortgage Crisis" Term Paper in a Bibliography
“Mortgage Crisis.” A1-TermPaper.com, 2007, https://www.a1-termpaper.com/topics/essay/gdp-growth-developed/90527. Accessed 5 Oct 2024.
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