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Can Oil-led Growth and Structural Change Go Hand in Hand in Ghana? A Multi-sector Intertemporal General Equilibrium Assessment

Breisinger, Clemens; Diao, Xinshen; Wiebelt, Manfred - Institut für Weltwirtschaft (IfW) - 2012

Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a...

Persistent link: https://www.econbiz.de/10010886853

Decompositions of Wage Inequality and Growth in an Advanced Economy open to Trade

Edwards, T. Huw; Lücke, Matthias - Institut für Weltwirtschaft (IfW) - 2011

factors in the growth and increasing wage inequality in an advanced economy (the UK) since 1979. Calibration of a model to … for both growth and inequality. Calibrated TFP growth is consistent with the results from nonparametric growth accounting … more problems to modelling inequality than with growth: in particular, the main models in the literature, which take skill …

Persistent link: https://www.econbiz.de/10009395928

The impact of financial openness on the size of utility-enhancing government

Erauskin, Iñaki - Institut für Weltwirtschaft (IfW) - 2013

as the consumption-wealth ratio, the growth rate of wealth, and welfare, in a two-country world, based on a portfolio … sharing. The theoretical results for the growth rate depend on differences on productivities and consumption-wealth ratios …

Persistent link: https://www.econbiz.de/10010983184

Evaluating the New Keynesian Phillips Curve under VAR-Based Learning

Fanelli, Luca - Institut für Weltwirtschaft (IfW) - 2008

This paper proposes the econometric evaluation of the New Keynesian Phillips Curve (NKPC) in the euro area, under a particular specification of the adaptive learning hypothesis. The key assumption is that agents? perceived law of motion is a Vector Autoregressive (VAR) model, whose coefficients...

Persistent link: https://www.econbiz.de/10005083372

Liquidity Traps, Learning and Stagnation

Evans, George; Guse, Eran; Honkapohja, Seppo - Institut für Weltwirtschaft (IfW) - 2007

We examine global economic dynamics under learning in a New Keynesian model in which the interest-rate rule is subject to the zero lower bound. Under normal monetary and fiscal policy, the intended steady state is locally but not globally stable. Large pessimistic shocks to expectations can lead...

Persistent link: https://www.econbiz.de/10005700647

Income and Democracy. A Comment on Acemoglu, Johnson, Robinson, and Yared (2008)

Gundlach, Erich; Paldam, Martin - Institut für Weltwirtschaft (IfW) - 2008

Acemoglu, Johnson, Robinson, and Yared (2008) demonstrate that estimation of the standard adjustment model with country-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their empirical approach must produce insignificant...

Persistent link: https://www.econbiz.de/10005566182

Desert Power 2050: Regional and sectoral impacts of renewable electricity production in Europe, the Middle East and North Africa

Calzadilla, Alvaro; Wiebelt, Manfred; Blohmke, Julian; … - Institut für Weltwirtschaft (IfW) - 2014

“Desert Power 2050” is probably the world’s most ambitious strategy report towards the decarbonization of the power sector in Europe, the Middle East and North Africa (EUMENA). The report inspired by the Desertec vision aims at providing clean energy from MENA’s desert regions to the...

Persistent link: https://www.econbiz.de/10010886948

Untangling the Quality of Governance from the Level of Income: Are Sub-Saharan African Countries Governed Well?

Gundlach, Erich; Hartmann, Susanne - Institut für Weltwirtschaft (IfW) - 2005

We consider whether Sub-Saharan African (SSA) countries are mainly poor because they are governed worse than other countries, as suggested by recent studies on the supremacy of institutions. Our empirical results show that the supremacy of institutions does not hold. SSA countries appear to face...

Persistent link: https://www.econbiz.de/10010886842

Capital mobility and growth

Diehl, Markus; Gundlach, Erich - Institut für Weltwirtschaft (IfW) - 1999

We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values …, capital mobility has a large impact on income growth. …

Persistent link: https://www.econbiz.de/10010955648

How agglomeration in the financial services industry influences economic growth: Evidence from Chinese cities

Liang, Lin; Lin, Shanglang; Li, Yong - Institut für Weltwirtschaft (IfW) - 2014

influence on a city's economic growth, while financial knowledge spillovers have a significant but negative effect on a city …'s economic growth. Thirdly, the tendency towards agglomeration in the financial services industry in a few major cities is clear …

Persistent link: https://www.econbiz.de/10010956148