Showing 1 - 10 of 167
We examine the growth performance of six emerging economies (Brazil, China, India, Indonesia, Russia and Turkey) in the … last two decades and examine whether domestic structural constraints are affecting their present and future growth … the dynamics of labor productivity (value added per worker, a synthetic measure of capital deepening, labor quality and …
Persistent link: https://www.econbiz.de/10011171336
from 29 to 31 March 2012. The workshop focused on the interaction between fiscal policy and growth and was organised in … relationship between government budgets and potential growth. The third session analysed the effects of taxation, regulation and … public services on growth. The last session concentrated on policies aimed at promoting sustainable growth. …
Persistent link: https://www.econbiz.de/10011277928
This paper presents an endogenous growth model with intertemporally dependent preferences and "Ak" technology. We … derive sufficient conditions for a balanced growth path to be an equilibrium, provide a full characterization of the … equilibrium dynamics of the economy, and explore the implications of habit formation for the patterns of cross-country growth and …
Persistent link: https://www.econbiz.de/10005609353
growth performance directly or indirectly through the above exogenous shocks. The focus, mostly but not exclusively … economic growth. …
Persistent link: https://www.econbiz.de/10004981443
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
In the 1970s, large increases in the price of oil were associated with sharp decreases in output and large increases in inflation. In the 2000s, even larger increases in the price of oil were associated with much milder movements in output and inflation. Using a structural VAR approach,...
Persistent link: https://www.econbiz.de/10009386390
We survey the existing work on the cross-country differences in the transmission of European monetary policy. We find that prior work, focusing on macroeconomic data, does not clearly answer the question posed in the title and offer some explanations for the ambiguity. Aside from the...
Persistent link: https://www.econbiz.de/10005111576
This paper studies the role of credit-supply factors in business cycle fluctuations. For this purpose, we introduce an imperfectly competitive banking sector into a DSGE model with financial frictions. Banks issue collateralized loans to both households and firms, obtain funding via deposits and...
Persistent link: https://www.econbiz.de/10008480533
This paper presents new evidence on the monetary transmission mechanism based on the effects of unexpected monetary policy shocks on 21 manufacturing industries in 5 OECD countries (France, Germany, Italy, the UK and the US). The goal is twofold. First, to document the crossindustry...
Persistent link: https://www.econbiz.de/10005609340
Since the adoption of flexible exchange rates, real exchange rates have been much more volatile than they were under Bretton Woods. However, the volatilities of most other macroeconomic variables have remained approximately unchanged. This poses a puzzle for standard international business cycle...
Persistent link: https://www.econbiz.de/10005609375