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China's march to prosperity : reforms to avoid the middle-income trap
Koen, Vincent; Herd, Richard; Hill, Sam - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced …
Persistent link: https://www.econbiz.de/10010231008
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China's March to Prosperity: Reforms to Avoid the Middle-income Trap
Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced …
Persistent link: https://www.econbiz.de/10011277005
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China’s Great Convergence and Beyond
Storesletten, Kjetil; Zilibotti, Fabrizio - In: Annual Review of Economics 6 (2014) 1, pp. 333-362
A recent wave of economic research has studied the transformation of China from a poor country in the 1970s to a middle …-income economy today. Based on this literature, we discuss the factors driving China’s development process. We provide a historical … account of China’s rise, fall, and resurgence. We then discuss the stylized facts associated with China’s growth process and …
Persistent link: https://www.econbiz.de/10010886217
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Can India Achieve Double-digit growth ?
Herd, Richard; Conway, Paul; Hill, Sam; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2011
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries. Prudent macroeconomic policies will be critical to prolonging the current expansion, given the risks associated with high inflation and volatile...
Persistent link: https://www.econbiz.de/10009191040
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Financial Frictions and the Persistence of History: A Quantitative Exploration
Buera, Francisco J.; Shin, Yongseok - National Bureau of Economic Research (NBER) - 2010
We quantify the role of financial frictions and the initial misallocation of resources in explaining development dynamics. Following a reform that triggers efficient reallocation of resources, our model economy with financial frictions converges slowly to the new steady state--it takes twice as...
Persistent link: https://www.econbiz.de/10008680925
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Capital Depreciation and Labor Shares Around the World: Measurement and Implications
Neiman, Brent; Karabarbounis, Loukas - National Bureau of Economic Research (NBER) - 2014
The labor share is typically measured as compensation to labor relative to gross value added ("gross labor share"), in part because gross value added is more directly measured than net value added. Labor compensation relative to net value added ("net labor share") may be more important in some...
Persistent link: https://www.econbiz.de/10010960437
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Declining Labor Shares and the Global Rise of Corporate Saving
Neiman, Brent; Karabarbounis, Loukas - National Bureau of Economic Research (NBER) - 2012
The stability of the labor share is a key foundation in macroeconomic models. We document, however, that the global labor share has significantly declined over the last 30 years. This decline was associated with a significant increase in corporate saving, generally the largest component of...
Persistent link: https://www.econbiz.de/10010592549
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Endogenous income distribution in the Bhaduri-Marglin model
Schütz, Bernhard - In: European Journal of Economics and Economic Policies: … 9 (2012) 2, pp. 309-320
The results of the Bhaduri-Marglin model build on the assumption of an exogenous profit share. The present paper examines critically the robustness of these results by asking how its results change if we take the endogeneity of the profit share into account. In doing so, the constituents of the...
Persistent link: https://www.econbiz.de/10011133345
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Capital is Back: Wealth-Income Ratios in Rich Countries, 1700-2010
Piketty, Thomas; Zucman, Gabriel - C.E.P.R. Discussion Papers - 2013
How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970-2010 national balance sheets recently compiled in the top eight developed economies. For the U.S., U.K., Germany, and France, we are able to extend our analysis as far back as 1700. We...
Persistent link: https://www.econbiz.de/10011083398
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The Global Decline of the Labor Share
Neiman, Brent; Karabarbounis, Loukas - National Bureau of Economic Research (NBER) - 2013
The stability of the labor share of income is a key foundation in macroeconomic models. We document, however, that the global labor share has significantly declined since the early 1980s, with the decline occurring within the large majority of countries and industries. We show that the decrease...
Persistent link: https://www.econbiz.de/10010785600