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Public Capital, Income Distribution and Growth
Getachew, Yoseph - United Nations University-Maastricht Economic Research … - 2008
Public capital investment plays an important role in long run growth through enhancing productivity and complementing the accumulation of private inputs. Under appropriate conditions, public capital could also have important implications for income distribution dynamics. When the credit market...
Persistent link: https://www.econbiz.de/10010856324
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Economic Growth in a Cross-Section of Cities
Glaeser, Edward L. - 1995
We examine the relationship between urban characteristics in 1960 and urban growth (income and population) between 1960 and 1990. Our major findings are that income and population growth move together and both types of growth are (1) positively related to initial schooling, (2) negatively...
Persistent link: https://www.econbiz.de/10012473880
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Regional Growth and Migration : A Japan-U.S. Comparison
Barro, Robert J. - 1992
Do poor economies grow faster than rich ones? This important economic question (which we call [beta]-convergence) is … of convergence in both countries: poor prefectures and states grow faster. We also find that there is intraregional as … well as interregional convergence. We analyze the cross sectional standard deviation across prefectures and states. We find …
Persistent link: https://www.econbiz.de/10012474942
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Explaining Success and Failure in Development
Szirmai, Adam - United Nations University-Maastricht Economic Research … - 2008
Since 1950, there has been considerable diversity in developing country experiences. Some countries and some regions have experienced rapid growth and catch up, others have fallen behind. At a global level there is an increasing inequality of per capita incomes. However, within the framework of...
Persistent link: https://www.econbiz.de/10010856304
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The Economic Effects of the Protestant Reformation: Testing the Weber Hypothesis in the German Lands
Cantoni, Davide - Barcelona Graduate School of Economics (Barcelona GSE) - 2010
Many theories, most famously Max Webers essay on the Protestant ethic, have hypothesized that Protestantism should have favored economic development. With their considerable religious heterogeneity and stability of denominational affiliations until the 19th century, the German Lands of the Holy...
Persistent link: https://www.econbiz.de/10010547482
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System GMM estimation with a small sample
Soto, Marcelo - Barcelona Graduate School of Economics (Barcelona GSE) - 2009
Properties of GMM estimators for panel data, which have become very popular in the empirical economic growth literature, are not well known when the number of individuals is small. This paper analyses through Monte Carlo simulations the properties of various GMM and other estimators when the...
Persistent link: https://www.econbiz.de/10010547508
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Industrial policy for growth
Farla, Kristine - United Nations University-Maastricht Economic Research … - 2012
This study distinguishes between industrial policy that stimulates incumbent industry development, `pro-business policy', and industrial policy that promotes the development of free markets, `pro-market policy'. We find that there is a positive relation between the level of countries'...
Persistent link: https://www.econbiz.de/10010712281
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Government Debt and Capital Accumulation in an Era of Low Interest Rates
Mankiw, Nicholas Gregory - National Bureau of Economic Research - 2022
This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...
Persistent link: https://www.econbiz.de/10013210052
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Latent Heterogeneity in the Marginal Propensity to Consume
Lewis, Daniel J.; Melcangi, Davide; Pilossoph, Laura - National Bureau of Economic Research - 2024
We estimate the unconditional distribution of the marginal propensity to consume (MPC) using clustering regression applied to the 2008 economic stimulus payments. By deviating from the standard approach of estimating MPC heterogeneity using interactions with observables, we can recover the full...
Persistent link: https://www.econbiz.de/10014544800
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Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier
Choi, Joonkyu; Penciakova, Veronika; Saffie, Felipe - National Bureau of Economic Research - 2024
We study the role of firms' political influence on the effectiveness of government spending using ARRA as a laboratory. Through an IV approach, we show that a 10 percentage points increase in the share of politically connected spending lowers the job creation effect of stimulus by 33 percent at...
Persistent link: https://www.econbiz.de/10014576603