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One of the most outstanding accomplishments of the economic science over the last decades is the development of a sound and coherent theory of economic growth. Research in growth theory has demonstrated that significant and systematic increases in well-being are attainable whenever the right...
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Rahmen der «Neuen Wachstumstheorie» vollzogenen modellkonzeptionellen Entwicklungen für die finanztheoretische Analyse dieses …
Persistent link: https://www.econbiz.de/10011964828
We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate. We formulate a highly stylized three-sector general equilibrium model with overlapping generations of individuals. The production side features one sector producing the...
Persistent link: https://www.econbiz.de/10014431164
The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...
Persistent link: https://www.econbiz.de/10010202757
accounting school appears due to limitations existing in the measures in efficiency units of the quality of the real investment …, because of the investment is not really comparable along the time. The analysis is based in to adjust the quality or … productivity of the investment goods constructing hedonic prices indices. This school is represented among others by Hulten (1992 …
Persistent link: https://www.econbiz.de/10011527365
This paper models the relationship between innovation and sustained economic growth through as being mediated by institutions that calibrate a 'structure of technological production' analogous to capital-based models of the structure of production. Our framework discusses two types of capital:...
Persistent link: https://www.econbiz.de/10013237452
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Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...
Persistent link: https://www.econbiz.de/10012031062
Ghana’s economy was identical to South Korea’s economy in the 1960s. Since the 1970s, however, Ghana’s economy has substantially lagged. To explain Ghana’s poor long-run economic growth, we build a neoclassical growth model to primarily examine the role of Ghana’s barriers to physical...
Persistent link: https://www.econbiz.de/10014350336