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Ageing and Growth in the Small Open Economy

Heijdra, Ben J.; Romp, Ward E. - CESifo - 2006

We construct an overlapping generations model for the small open economy whichincorporates a realistic description of the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be used later on in life for production purposes. Depending...

Persistent link: https://www.econbiz.de/10005094204

Human Capital Accumulation and the Macroeconomy in an Ageing Society

Heijdra, Ben J.; Reijnders, Laurie S. M. - CESifo - 2012

How do population ageing shocks affect the long-run macroeconomic performance of an economy? To answer this question we build a general equilibrium overlapping generations model of a closed economy featuring endogenous factor prices. Finitely-lived individuals are endowed with perfect foresight...

Persistent link: https://www.econbiz.de/10010877922

A Generalized Steady-State Growth Theorem

Irmen, Andreas - CESifo - 2013

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output....

Persistent link: https://www.econbiz.de/10010713863

Essential Inputs and Unbounded Output: An Alternative Characterization of the Neoclassical Production Function

Irmen, Andreas; Maussner, Alfred - CESifo - 2014

The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and labor as arguments. Are these conditions justifiable on economic grounds? Yes, they are: we show that a production function with positive, yet diminishing marginal products and...

Persistent link: https://www.econbiz.de/10011099760

Infrastructure and Growth: Empirical Evidence

Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - CESifo - 2009

Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on …

Persistent link: https://www.econbiz.de/10005013038

The Relevance of Judicial Procedure for Economic Growth

Hayo, Bernd; Voigt, Stefan - CESifo - 2008

predictability of court decisions, which leads to more transactions and higher investment levels. We investigate the effects on …

Persistent link: https://www.econbiz.de/10005416509

Economic Growth and Judicial Independence, a Dozen Years On: Cross-Country Evidence Using an Updated Set of Indicators

Voigt, Stefan; Gutmann, Jerg; Feld, Lars P. - CESifo - 2014

Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively meas-uring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper pre-sents more...

Persistent link: https://www.econbiz.de/10010948870

Energy Consumption and Economic Growth Revisited in African Countries

Eggoh, Jude C.; Bangaké, Chrysost; Rault, Christophe - CESifo - 2011

The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups:...

Persistent link: https://www.econbiz.de/10009320785

Entrepreneurial Innovation and Sustained Long-run Growth without Weak or Strong Scale Effects

Grossmann, Volker - CESifo - 2008

R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth (“strong scale effect”) or the level of per capita income (“weak scale effect”), with far-reaching policy implications. However, for modern times there is little empirical...

Persistent link: https://www.econbiz.de/10005766006

No Need to Run Millions of Regressions

Sturm, Jan-Egbert - CESifo - 2000

We argue that in modelling cross-country growth models one should first identify so-called outlying observations. For the data set of Sala-i-Martin, we use the least median of squares (LMS) estimator to identify outliers. As LMS is not suited for inference, we then use reweighted least squares...

Persistent link: https://www.econbiz.de/10005094199

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