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Strulik, Holger; Weisdorf, Jacob - C.E.P.R. Discussion Papers - 2007

This paper provides a unified growth theory, i.e. a model that explains the very long-run economic and demographic development path of industrialized economies, stretching from the pre-industrial era to present-day and beyond. Making strict use of Malthus’ (1798) so-called preventive check...

Persistent link: https://www.econbiz.de/10005123712

Growing like China

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009

This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

Persistent link: https://www.econbiz.de/10005123794

Is Fixed Investment the Key to Economic Growth?

Blomström, Magnus; Lipsey, Robert E; Zejan, Mario - C.E.P.R. Discussion Papers - 1993

find no evidence that fixed investment is the only or main source of ignition for economic growth. …

Persistent link: https://www.econbiz.de/10005123986

Natural Resources and Economic Growth: The Role of Investment

Gylfason, Thorvaldur; Zoega, Gylfi - C.E.P.R. Discussion Papers - 2001

and investment. When the share of output that accrues to the owners of natural resources rises, the demand for capital … allocation of capital may, however, enhance the quantity as well as the quality of new investment and sustain growth. Empirical … thereby inhibiting economic growth. The results also suggest that abundant natural resources may hurt saving and investment …

Persistent link: https://www.econbiz.de/10005504629

Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

Philippon, Thomas - C.E.P.R. Discussion Papers - 2014

A quantitative investigation of financial intermediation in the U.S. over the past 130 years yields the following results : (i) the finance industry’s share of GDP is high in the 1920s, low in the 1950s and 1960s, and high again in the 1990s and 2000s; (ii) most of these variations can be...

Persistent link: https://www.econbiz.de/10011083657

Post-war Growth: An Overview

Crafts, Nicholas; Toniolo, Gianni - C.E.P.R. Discussion Papers - 1995

-ante returns on investment. …

Persistent link: https://www.econbiz.de/10005661688

Pitfalls in Estimating Asymmetric Effects of Energy Price Shocks

Kilian, Lutz; Vigfusson, Robert J. - C.E.P.R. Discussion Papers - 2009

A common view in the literature is that the effect of energy price shocks on macroeconomic aggregates is asymmetric in energy price increases and decreases. We show that widely used asymmetric vector autoregressive models of the transmission of energy price shocks are misspecified, resulting in...

Persistent link: https://www.econbiz.de/10005000442

Forecasting Macroeconomic Variables Using Diffusion Indexes in Short Samples with Structural Change

Banerjee, Anindya; Marcellino, Massimiliano; Masten, Igor - C.E.P.R. Discussion Papers - 2008

We conduct a detailed simulation study of the forecasting performance of diffusion index-based methods in short samples with structural change. We consider several data generation processes, to mimic different types of structural change, and compare the relative forecasting performance of factor...

Persistent link: https://www.econbiz.de/10005666861

Growing into Trouble: Indonesia After 1966

Temple, Jonathan - C.E.P.R. Discussion Papers - 2001

This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita rose more than fourfold, despite unfavourable initial conditions, some weak institutions, and flawed microeconomic policies. The paper attributes this strong performance to a...

Persistent link: https://www.econbiz.de/10005791453

Benchmarking Structural Change in Transition

Raiser, Martin; Schaffer, Mark E; Schuchhardt, Johannes - C.E.P.R. Discussion Papers - 2003

The transition to market-based economic systems in the countries of Central and Eastern Europe and the former Soviet Union involve fundamental shifts in the allocation of resources, and deep changes in the structure of production and employment. This Paper uses a simple model of economic...

Persistent link: https://www.econbiz.de/10005792040

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