A Year of Divergence

And you can see here the huge divergence that happens in property ownership between North and South.

The Great Policy Divergence

For them, debtor and creditor countries increasingly divergent economic objectives are much more meaningful.

It was originally introduced by Solomon Kullback and Richard Leibler in 1951 as the directed divergence between two distributions.

A third piece of the forecast puzzle is the disparity between the behavior of financial markets and that of the real economy.

The Messy Politics of Economic Divergence

The divergence between developments in services and goods prices widened further in 2002 .

Economic historians call this The Great Divergence.

Of course, there is no theoretical limit on divergence.

Such divergence remains in line with business cycle regularities .

There are six which I think explain the Great Divergence.

1762 Joseph Louis Lagrange discovers the divergence theorem.

It can be derived from a Bregman divergence.

The Italians and Spaniards are right the principal reason for the size of the spread between the periphery and Germany is convertibility risk.

One possible explanation for the divergence between credit and GDP growth is that potential growth has already dropped to 7 .

But how much of this divergence is already priced in?

And you can see here that there's an exponential Great Divergence.

I think they re two quite different modes divergence and convergence.

The crisis in the eurozone has, of course, fragmented financial flows, caused economies to diverge, eroded political support for EU institutions, and set Europeans against one another.

This divergence is as much a political phenomenon as it is an economic and financial one.

But interest rate convergence caused economic divergence.

But one thing is for sure, the Great Divergence is over, folks.

You may think we can explain the Great Divergence in terms of geography.

CAMBRIDGE How should one understand the disconnect between the new highs reached by global equity indices and the new depths plumbed by real interest rates worldwide?

So it really doesn't look like empire is a great explanation for the Great Divergence.

There is a substantial range of views among the members of the rate setting Federal Open Market Committee. The midpoint of the opinions recorded at most recent FOMC meeting implies a federal funds rate of 1.25 1.5 at the end of 2015.

Divergence in policies and convergence in outcomes is not a realistic expectation.

And this slide here is the best simplification of the Great Divergence story I can offer you.

And this is part of a really extraordinary phenomenon, and that is the end of the Great Divergence.

Kullback Leibler divergence is a special case of a broader class of divergences called f divergences.

However , given the current divergent national practices for updating HICP samples , it may be difficult to achieve full comparability of HICPs as regards representativeness and quality adjustment .

In this 1 see the very grave danger, to which this Parliament has repeatedly referred, of the bureaucracy at the frontiers, which we have constantly condemned in the past, not being abolished but simply moved elsewhere.

The pressure on policymakers to address the risks of divergence will increase next year.

What accounts for this disconnect within the West over a key regional and global threat?

But before we go through that process of divergence, there is actually quite an important first step.

Given the divergence among the positions included in the Lima text, arriving at a draft fit for signing in Paris next December will be a huge task.

This was the first signal of divergence between what Germany thought it had to do (plans of fiscal strictness and stability in the public finances), and what its European partners were doing, including France.

The later split between lemurs and lorises is thought to have occurred approximately 62 to 65 mya according to molecular studies, although other genetic tests and the fossil record in Africa suggest more conservative estimates of 50 to 55 mya for this divergence.

I do not think so , but what can policy makers do to take divergence into account ? I will try to give an answer to this question in two steps .

MILAN Since the global economic crisis, sharp divergences in economic performance have contributed to considerable stock market volatility.

The problem is that the current economic and policy configuration in the developed world entails an unusual amount of divergence.

Avoiding the disruptive potential of divergence is not a question of policy design there is already broad, albeit not universal, agreement among economists about the measures that are needed at the national, regional, and global levels.

This represents an important mechanism in the process of macroeconomic adjustment in response to regional divergence .

Where the Commission finds that a difference between the provisions laid down by law, regulation or administrative action in Member States is distorting the conditions of competition in the internal market and that the resultant distortion needs to be eliminated, it shall consult the Member States concerned.