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Gennaioli, Nicola - 2013

convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and … human capital. Regional convergence is about 2.5% per year, not more than 1% per year faster than convergence between … countries. Regional convergence is faster in richer countries, and countries with better capital markets. A calibration of a …

Persistent link: https://www.econbiz.de/10012459724

The Long-Run Impacts of Public Industrial Investment on Local Development and Economic Mobility : Evidence from World War II

Garin, Andrew; Rothbaum, Jonathan L. - National Bureau of Economic Research - 2024

This paper studies the long-run effects of government-led construction of manufacturing plants on the regions where they were built and on individuals from those regions. Specifically, we examine publicly financed plants built in dispersed locations outside of major urban centers for security...

Persistent link: https://www.econbiz.de/10014512119

The Wandering Scholars : Understanding the Heterogeneity of University Commercialization

Lerner, Joshua; Manley, Henry J.; Stein, Carolyn; … - National Bureau of Economic Research - 2024

University-based scientific research has long been argued to be a central source of commercial innovation and economic growth. Yet at the same time, there have been long-held concerns that many university-based discoveries never realize their potential social benefits. Looking across...

Persistent link: https://www.econbiz.de/10014468269

Ethnic Remoteness Reduces the Peace Dividend from Trade Access

Desmet, Klaus; Gomes, Joseph Flavian - National Bureau of Economic Research - 2023

This paper shows that ethnically remote locations do not reap the full peace dividend from increased market access. Exploiting the staggered implementation of the US-initiated Africa Growth and Opportunity Act (AGOA) and using high-resolution data on ethnic composition and violent conflict for...

Persistent link: https://www.econbiz.de/10013537756

Industrial Clusters in the Long Run : Evidence from Million-Rouble Plants in China

Heblich, Stephan; Seror, Marlon; Xu, Hao; Zylberberg, Yanos - National Bureau of Economic Research - 2022

We identify negative spillovers exerted by large, successful manufacturing plants on other local production facilities in China. A short-lived alliance between the U.S.S.R. and China led to the construction of 150 "Million-Rouble plants" in the 1950s. Our identification strategy exploits the...

Persistent link: https://www.econbiz.de/10013477236

Comparing fiscal multipliers across models and countries in Europe

Kilponen, Juha; Pisani, Massimiliano; Schmidt, Sebastian; … - Nationale Bank van België/Banque national de Belqique (BNB) - 2015

This paper employs fifteen dynamic macroeconomic models maintained within the European System of Central Banks to assess the size of fiscal multipliers in European countries. Using a set of common simulations, we consider transitory and permanent shocks to government expenditures and different...

Persistent link: https://www.econbiz.de/10011272778

Fiscal policy and TFP in the OECD : Measuring direct and indirect effects

Everaert, Gerdie; Heylen, Freddy; Schoonackers, Ruben - Nationale Bank van België/Banque national de Belqique (BNB) - 2014

This paper analyzes the direct and indirect effects of fiscal policy on total factor productivity (TFP) in a panel of OECD countries over the period 1970-2012. Our contribution is twofold. First, when estimating the impact of fiscal policy on TFP from a production function approach, we identify...

Persistent link: https://www.econbiz.de/10011272779

Searching for Threshold Effects in the Evolution of Budget Deficits: An Application to the Spanish Case

Bajo-Rubio, Oscar; Díaz-Roldán, Carmen; Esteve, Vicente - Centro de Estudios Andaluces, Government of Andalusia - 2003

In this paper we use recent developments on threshold autoregressive (TAR) models that allow us to derive endogenously threshold effects in the evolution of the Spanish budget deficit. Specifically, a mean-reverting dynamic behaviour of the budget deficit should be expected once such threshold...

Persistent link: https://www.econbiz.de/10005121314

Is the Budget Deficit Sustainable when Fiscal Policy is nonlinear? The Case of Spain, 1961-2001

Bajo-Rubio, Oscar; Díaz-Roldán, Carmen; Esteve, Vicente - Centro de Estudios Andaluces, Government of Andalusia - 2003

In this paper we re-examine the long-run sustainability of budget deficits, when fiscal policy is conducted as a nonlinear process. Our empirical methodology makes use of recent developments on threshold cointegration that consider the possibility of a nonlinear relationship between government...

Persistent link: https://www.econbiz.de/10005187567

Do Government Spending Multipliers Depend on the Sign of the Shock?

Ben Zeev, Nadav; Ramey, Valerie A.; Zubairy, Sarah - National Bureau of Economic Research - 2023

We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U.S. data, we apply Ben Zeev's (2020) nonlinear diagnostic tests and find evidence of nonlinearities in the impulse response functions of both government spending and GDP. We then...

Persistent link: https://www.econbiz.de/10014247936