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Space and Growth

Abreu, Maria; Groot, Henri L.F. de; Florax, Raymond J.G.M. - Tinbergen Institute - 2004

This paper reviews the empirical literature on growth and convergence that has addressed the importance of spatial …

Persistent link: https://www.econbiz.de/10005144476

A Meta-Analysis of Beta-Convergence: The Legendary Two-Percent

Abreu, Maria; Groot, Henri L.F. de; Florax, Raymond J.G.M. - Tinbergen Institute - 2005

The topic of convergence is at the heart of a wide-ranging debate in the growth literature. Empirical studies of … convergence differ widely in their theoretical backgrounds, empirical specifications and in their treatment of cross …-sectional heterogeneity. Despite these differences, a rate of convergence of about 2% has been found under a variety of different conditions …

Persistent link: https://www.econbiz.de/10005144527

Spatial Patterns of Technology Diffusion: An Empirical Analysis using TFP

Abreu, Maria; Groot, Henri L.F. de; Florax, Raymond J.G.M. - Tinbergen Institute - 2004

In this paper we employ techniques developed in spatial econometrics to analyse spatial patterns of technology diffusion, to detect clusters and to estimate theoretical models that incorporate space explicitly. These techniques correct for misspecifications resulting from the omission of spatial...

Persistent link: https://www.econbiz.de/10005136906

Default Risk Premia on Government Bonds in a Quantitative Macroeconomic Model

Juessen, Falko; Linnemann, Ludger; Schabert, Andreas - Tinbergen Institute - 2009

This paper examines the pricing of public debt in a quantitative macroeconomic model with government default risk. Default may occur due to a fiscal policy that does not preclude a Ponzi game. When a build-up of public debt makes this outcome inevitable, households stop lending such that the...

Persistent link: https://www.econbiz.de/10008513214

Productive Government Expenditure in Monetary Business Cycle Models

Linnemann, Ludger; Schabert, Andreas - Tinbergen Institute - 2005

This paper assesses the transmission of fiscal policy shocks in a New Keynesian framework where government expenditures contribute to aggregate production. It is shown that even if the impact of government expenditures on production is small, this assumption helps to reconcile the models'...

Persistent link: https://www.econbiz.de/10005137177

Optimal Government Spending and Unemployment

Linnemann, Ludger; Schabert, Andreas - Tinbergen Institute - 2008

We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy i) implies a higher steady state ratio of government...

Persistent link: https://www.econbiz.de/10005137301