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A central debate in applied macroeconomics is whether statistical tools that use minimal identifying assumptions are useful for isolating promising models within a broad class. In this paper, I compare three statistical models|a vector autoregressive moving average (VARMA) model, an unrestricted...
Persistent link: https://www.econbiz.de/10003375227
A framework is developed with what we call technology capital. A country is a measure of locations. Absent policy constraints, a firm owning a unit of technology capital can produce the composite output good using the unit of technology capital at as many locations as it chooses. But it can...
Persistent link: https://www.econbiz.de/10003479620