Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, economy-wide fixed asset series are usually derived by aggregating gross fixed capital formation (net of depreciation) over time, and sectoral/ownership-specific series by...

Using a new series of capital stock and frequency domain analysis, this paper provides new empirical evidence on the relative importance of capital and labor in the determination of output in the short and long- run. Contrary to the common practice in the traditional growth accounting literature...

Total factor productivity measurement enables researchers to determine the contribution of supply-side production factors to economic growth. For Bulgaria, which is a transition economy, it is difficult to construct a production function with stable parameters, mostly because there are atypical...

La estructura normativa de un sector como reglas que armonizan o delimitan las acciones de los agentes económicos involucrados o los potenciales involucrados, reviste una importancia incuestionable. Los cambios filosóficos y de estructura tributaria que contemplan la nueva Ley de Hidrocarburos...

El objetivo de este artículo, que hace parte de un estudio más extenso, es analizar el tema de las fluctuaciones del producto en un escenario de competencia imperfecta a la luz de los hechos estilizados. Se conclue que estas se pueden originar por shocks de oferta o demanda, o simplemente por...

Existe un amplio consenso del efecto adverso de altas tasas de inflación sobre el crecimiento económico, no obstante, no existe pleno acuerdo en cuanto al efecto de tasas de inflación moderadas. Este trabajo re- examina la relación entre la inflación y el crecimiento en una muestra de nueve...

El interés oficial por disminuir paulatina pero sustancialmente la inflación en Colombia se ha hecho evidente a partir de 1991, experiencia que se había repetido en muchos países de la mano con el surgimiento de hipótesis y hallazgos de los economistas referidos a los costos de la...

The captioned article was earlier published in “Economic Horizons” volume 18, #72 – AH 1418 – 1997 (4) Pages (65-78). I had some concerns about the article regarding the methodology adopted for analysis in deriving the macroeconomic parameters and the derivation and interpretation of...

This paper addresses the question if there are differences between time patterns in the volatility of investment across different industrial sectors. A competitive partial-equilibrium model with quadratic adjustment costs in investment and a GARCH demand shock is developed to predict aggregate...

This paper analyzes the interaction of financial frictions and non- convex adjustment costs. With non-convex adjustment costs firms infrequently carry out discrete investment projects. Therefore, financial variables may influence investment in two ways. Theoretically, they can alter the...