10
June
2016
On Thursday June 9th, Professor Bruce Boghosian of Tufts University gave a presentation entitled "The Statics and Dynamics of Wealth Distribution", a fascinating topic which detailed the use of an innovative approach to investigate inequality dynamics. Professor Boghosian first reviewed the history of measuring inequality, and discussed the works of well-known scholars of the field such as Pareto, Gibrat, Lorenz, and Gini, and then shared his own fascinating research with the audience. Though the mathematical rigour of the models was interesting, the results were fascinating; Boghosian showed that under certain conditions (when total wealth is unchanged and transactions between economic agents are conducted with few mistakes), societies are consistently prone to wealth concentration and Gini coefficient trends increase.
03
June
2016
Congestion in electricity transmission systems is a common problem all around the world, Georgia included. Two types of congestion are observed in the power sector; physical and economic. Physical congestion occurs when a transmission system is not adequate to supply an increasing amount of electricity. Economic congestion appears when prices in one region are different from those in another region, while cheaper electricity cannot be sold to the region at high prices.
31
May
2016
This policy document was created through the project “Raising support and enhancing understanding of the Europeanization process in Georgia: information and communication campaign on EU-Georgia Association Agreement, including DCFTA” funded by the Romanian government.
30
May
2016
The growth forecast for the 2nd quarter of 2016 was revised downward from 5.0% to 4.2%. Our first prediction of GDP growth for the third quarter is 4.3%. Meanwhile, Geostat has updated its GDP growth estimate for the first quarter of 2016. The Q1 growth rate stands at 2.3%, which is 0.6 percentage points below the forecast.
25
May
2016
On Tuesday, May 24, Dr. David Ubilava from the University of Sidney gave a presentation entitled "The El Niño Southern Oscillation and Economic Growth”. Dr. Ubilava started the presentation with the definitions of such phenomena such as climate anomalies and weather and emphasized the importance of weather as a factor in agricultural production.
