random walk model of stock prices performs as well as any estimated model at one to twelve month horizons, even though we …, aggregate stock prices seem to be as difficult to model empirically as exchange rates. …

The paper investigates the local dynamics of a simple growth model with a public health factor. A notable feature of … the model is that it employs a non-separable utility function between consumption and the level of public health … contributes to labor productivity growth. From a three-dimensional dynamic system that includes physical capital, public health …

services; moreover this TFP increase was significant in accounting for service sector value added growth. A growth model with … baseline model performs well in accounting for the evolution of value added shares and their growth rates, but is unable to …This paper examines the factors responsible for generating the services led growth witnessed in the Indian economy …

The objective of this study is to analyze and explain the factors influencing the value added growth in Turkish public … and private manufacturing sectors during 1980–2001. With this aim in view, a Two-Deflator Growth Accounting (TDA) method … is applied in the study. It is revealed that industries as a whole have positive value added growth with no negative …

This paper examines the significance of the time path of a given productivity increase on growth and inequality … consequences for wealth and income distribution. Hence, the growth–inequality tradeoff generated by a given discrete increase in … productivity growth path. …

We study long-run growth in a multi-sector economy with non-renewable resource use and endogenous innovations. Unlike … recent capital resource models, we find that poor input substitution need not be detrimental for sustainable growth; on the …

growth. Consistent with recent empirical evidence, our model provides a theoretical case of a non-linear pattern between life …This paper investigates the relationship between life expectancy and economic growth in an overlapping generations … model with family altruism where private and public investments in human capital of children are the engine of endogenous …

Debreu (1954) [6], I formulate a standard growth model with externality—a two-period version of Romer (1986) [39]—as a game …Competition among banks promotes growth and stability for an economy with production externality. Following Arrow and …

We evaluate the growth and welfare effects of budget-neutral reforms in the US tax system. Large gains in welfare and … growth could result from adopting a consumption-based tax system. In contrast, significant welfare and growth losses would …-negligible welfare and growth gains. …