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Technological Diffusion, Convergence, and Growth

Barro, Robert J. - 1995

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run, the world growth rate is driven by discoveries in the technologically leading economies. Followers converge toward the leaders because copying is...

Persistent link: https://www.econbiz.de/10012473731

Myopia and Inconsistency in the Neoclassical Growth Model

Barro, Robert J. - 1997

The neoclassical growth model is modified to allow for a non-constant rate of time" preference. If the household cannot commit future choices of consumption and if utility is" logarithmic, then an equilibrium is found that resembles the standard results of the neoclassical" model. In this...

Persistent link: https://www.econbiz.de/10012472497

Capital Mobility in Neoclassical Models of Growth

Barro, Robert J. - 1992

The empirical evidence reveals conditional convergence in the sense that economies grow faster per capita if they start further below their steady-state positions. For a homogeneous group of economies - like the U.S. states, regions of western European countries, and the GECD countries - the...

Persistent link: https://www.econbiz.de/10012474759

Economic Growth and Convergence across The United States

Barro, Robert J. - 1990

A key economic issue is whether poor countries or regions tend to grow faster than rich ones: are there automatic forces that lead to convergence over time in levels of per capita income and product? After considering predictions of closed- and open-economy neoclassical growth theories, we...

Persistent link: https://www.econbiz.de/10012475612

Economic Growth and Convergence, Applied Especially to China

Barro, Robert J. - 2016

From the perspective of conditional convergence, China's GDP growth rate since 1990 has been surprisingly high. However, China cannot deviate forever from the global historical experience, and the per capita growth rate is likely to fall soon from around 8% per year to a range of 3 4%. China can...

Persistent link: https://www.econbiz.de/10012456800

Convergence and Modernization Revisited

Barro, Robert J. - 2012

In an 80-country panel since the 1960s, the convergence rate for per capita GDP is around 1.7% per year. This "beta convergence" is conditional on an array of explanatory variables that hold constant countries' long-run characteristics. The introduction of country fixed effects generates a much...

Persistent link: https://www.econbiz.de/10012460366

Reputation in a Model of Monetary Policy with Incomplete Information

Barro, Robert J. - 1986

people observe low inflation, they raise the possibility that the policymaker is committed to low inflation (type 1). This … equilibrium the policymaker of type 1 delivers surprisingly low inflation -- with corresponding costs to the economy -- over an … extended interval. The type 2 person mimics this outcome for awhile, but shift seventually to high inflation. This high …

Persistent link: https://www.econbiz.de/10012477283

Inflationary Finance under Discrepion and Rules

Barro, Robert J. - 1982

Inflationary finance involves first, the tax on cash balances from expected inflation, and second, a capital levy from … unexpected inflation. From the standpoint of minimizing distortions, these capital levies are attractive, ex post, to the …

Persistent link: https://www.econbiz.de/10012478219

Inflation and Economic Growth

Barro, Robert J. - 1995

Data for around 100 countries from 1960 to 1990 are used to assess the effects of inflation on economic performance. If … increase in average inflation by 10 percentage points per year are a reduction of the growth rate of real per capita GDP by 0 … procedures use plausible instruments for inflation, there is some reason to believe that these relations reflect causal …

Persistent link: https://www.econbiz.de/10012473544

Inequality, Growth, and Investment

Barro, Robert J. - 1999

Evidence from a broad panel of countries shows little overall relation between income inequality and rates of growth and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in richer places. The Kuznets curve-whereby inequality first...

Persistent link: https://www.econbiz.de/10012471762