Showing 1 - 10 of 11
This paper examines the effects of three alternative rules for public investment on output growth in a model with private and public capital. The rules considered are: (i) a fixed ratio of public capital to output; (ii) a fixed growth rate for public capital; and (iii) a fixed ratio of public...
Persistent link: https://www.econbiz.de/10005791732
The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations, even though these countries show a common technology, constant returns to scale and perfect international capital...
Persistent link: https://www.econbiz.de/10005792009
This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has guided that empirical analysis. The paper argues that recent studies of economic growth - both empirical and theoretical - distinguish from previous work in three distinct ways:...
Persistent link: https://www.econbiz.de/10005792232
After arguing that the concepts of b-convergence and s-convergence are independently interesting, this paper extends … the empirical evidence on regional growth and convergence across the United States, Japan, and five European nations. We … confirm that the estimated speeds of convergence are surprisingly similar across data sets: regions tend to converge at a …
Persistent link: https://www.econbiz.de/10005114384
The concepts of s-convergence, absolute b-convergence and conditional b-convergence are discussed in this paper. The …. Except for the large cross section of countries, all data sets display strong evidence of s-convergence and absolute b-convergence …. The cross section of countries exhibits s-divergence and conditional b-convergence. The speed of conditional convergence …
Persistent link: https://www.econbiz.de/10005656407
This paper presents a model in which growth and geographic agglomeration of economic activities are mutually self reinforcing processes. Industrial agglomeration in one location spurs growth because it reduces the cost of innovation in that location through a pecuniary externality due to...
Persistent link: https://www.econbiz.de/10005662416
The paper surveys and extends recent results on the effect of changes in government fiscal and financial policy, and in private savings behaviour, on economic growth. Private saving behaviour is represented by an overlapping generations (OLG) model. The supply side of the model permits...
Persistent link: https://www.econbiz.de/10005789148
Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects investment and growth, in practice tax policy is ineffective as an instrument to promote growth. This paper provides evidence to support this view by examining the predictions...
Persistent link: https://www.econbiz.de/10005136639
This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analysed....
Persistent link: https://www.econbiz.de/10005497940
This paper studies the effects of factor income taxation and of subsidies to human capital accumulation in models of endogenous growth. It examines in particular how these effects depend on the specification of the leisure activity and on the technology and tax treatment of the sector producing...
Persistent link: https://www.econbiz.de/10005114284