studying an environment in which a trade-off between risk sharing and growth arises endogenously. Financial intermediaries …-sharing and growth. We show the balance of intermediaries and market that maximizes welfare depend on parameter values. …

long run data into several subperiods. We use a two stage approach in this work. We first model the growth rate of output … directly and use this model to estimate the long-run growth rate for the countries in our sample. We then use the estimates of … long-run growth in output to test for unconditional convergence and to test for equality of long-run growth across …

labour and growth. We consider an OLG model, with parental educational choices. It is assumed there is a trade off between … education system, where schooling quality is endogeneized can improve growth and reduce child labour, and cycles may occur. A …

In this paper, I study the welfare properties of growth models with endogenous innovation, knowledge externalities, and … monopoly pricing of new goods. Since useful policy prescriptions cannot be inferred from a balanced growth analysis, welfare is …

peak the average country’s relative per capita output was 68% of its peak level. A growth accounting exercise shows that … between 1960 and 1985 the contribution of physical capital to growth, at 74%, was more than twice the world’s average. There … growth one of the lowest. Import Substitution Industrialization and targeted investment subsidies may be the key to …

This article analyzes the effects of financial liberalization on economic growth, focusing mainly the empirical aspects … has capital account liberalization had on economic growth? Has liberalization affected equally both developed and … developing countries? What sort of private capital flow has had the greatest impact on growth? To answer these questions, the …

This paper presents a simple Cass-Koopmans-Ramsey AK growth model with heterogeneity that explains how policies that … increase income inequality may temporarily boost a country’s income growth rate. Briefly put, a change in policy that reduces … redistributive transfers will free up resources to the households with the highest productivities, resulting in an aggregate growth …

The relationship between income distribution and economic growth has been found to depend on several factors such as … trade and openness. The current work assesses how income inequality influences growth stimating a reduced form growth … household income from national surveys, it is found that inequality and growth are positively related. When analysing different …

welfare gain from eliminating business cycles can exceed the gain from increasing the long-term growth rate by 1% forever. Our …