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An equilibrium model of 'global imbalances' and low interest rates
Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, … - 2006
Three of the most important recent facts in global macroeconomics -- the sustained rise in the US current account deficit, the stubborn decline in long run real rates, and the rise in the share of US assets in global portfolio -- appear as anomalies from the perspective of conventional wisdom...
Persistent link: https://www.econbiz.de/10003311084
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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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Regional cohesion : evidence and theories of regional growth and convergence
Sala-i-Martin, Xavier - 1994
Persistent link: https://www.econbiz.de/10013421984
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The classical approach to convergence analysis
Sala-i-Martin, Xavier - 1995
Persistent link: https://www.econbiz.de/10013422137