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Political Economy of Public Capital Formation in Japan
KONDOH, Haruo - East Asian Bureau of Economic Research (EABER) - 2008
This paper investigates public investment policy (mainly from the 1980s onwards) with a political-economic approach. The points of this paper are as follows. First, at the macro level, it is possible that the short-term fluctuation of public investment has been controlled by the government...
Persistent link: https://www.econbiz.de/10009365471
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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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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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Japan’s Post-Triple-Disaster Growth Strategy
Kawai, Masahiro; Morgan, Peter J. - East Asian Bureau of Economic Research (EABER) - 2012
The Great East Japan Earthquake on 11 March 2011 was the biggest earthquake recorded in Japanese seismic history, and the fourth largest recorded in the world. The scope of the disaster far exceeded that of the Hanshin Earthquake of 1995. The repercussions of this disaster spread far...
Persistent link: https://www.econbiz.de/10011278121
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Japan’s Post-Triple-Disaster Growth Strategy
Kawai, Masahiro; Morgan, Peter J. - East Asian Bureau of Economic Research (EABER) - 2012
The Great East Japan Earthquake on 11 March 2011 was the biggest earthquake recorded in Japanese seismic history, and the fourth largest recorded in the world. The scope of the disaster far exceeded that of the Hanshin Earthquake of 1995. The repercussions of this disaster spread far...
Persistent link: https://www.econbiz.de/10011278232
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How Should One Evaluate Fiscal Conditions - A Study Based on the Comparison between Japan and Australia
Ikeda, Jun - East Asian Bureau of Economic Research (EABER) - 2007
In comparing fiscal indicators of Japan and Australia, it is generally perceived that Japans fiscal conditions are very serious and those of Australia are very sound. However, in Australia the rising ratio of foreign liabilities to GDP is the source of anxiety in the market, which in turn...
Persistent link: https://www.econbiz.de/10009365518
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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
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State-Dependent Local Projections : Understanding Impulse Response Heterogeneity
Cloyne, James; Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2023
An impulse response is the dynamic average effect of an intervention across horizons. We use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple extension to the usual local...
Persistent link: https://www.econbiz.de/10014226168