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Boats and tides and "Trickle Down" theories: What economists presume about wellbeing when they employ stochastic process theory in modeling behavior

Anderson, Gordon - Institut für Weltwirtschaft (IfW) - 2012

Aphorisms that "Rising tides raise all boats" or that material advances of the rich eventually "Trickle Down" to the poor are really maxims regarding the nature of stochastic processes that underlay the income/wellbeing paths of groups of individuals. This paper looks at the implications for the...

Persistent link: https://www.econbiz.de/10010956065

Current Account Imbalances and Income Inequality: Theory and Evidence

Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012

In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...

Persistent link: https://www.econbiz.de/10010886828

Confronting the Representative Consumer with Household-Size Heterogeneity

Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010

Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...

Persistent link: https://www.econbiz.de/10008727755

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

Education is good for the poor: a note on Dollar and Kraay

Gundlach, Erich; Navarro de Pablo, José; Weisert, Natascha - Institut für Weltwirtschaft (IfW) - 2004

A recent paper by Dollar and Kraay (2001) finds that higher primary educational attainment of the workforce does not increase the income of the poor except for its effect on average income. We test the robustness of their finding by using a broader measure of human capital that accounts for...

Persistent link: https://www.econbiz.de/10010955872

Financial liberalization, financial development and productivity growth: An overview

Gehringer, Agnieszka - Institut für Weltwirtschaft (IfW) - 2013

The paper surveys the literature on the effects of finance on productivity growth. In both the theoretical and … growth. Focusing on the direct channels of growth, the author has found both positive and negative contribution of finance to … growth. Clearer positive effects emerge when considering growth channels related to productivity dynamics, with the estimated …

Persistent link: https://www.econbiz.de/10010956114

Climate Change, Agricultural Production and Food Security: Evidence from Yemen

Breisinger, Clemens; Ecker, Olivier; Al-Riffai, Perrihan; … - Institut für Weltwirtschaft (IfW) - 2011

This paper provides a model-based assessment of local and global climate change impacts for the case of Yemen, focusing on agricultural production, household incomes and food security. Global climate change is mainly transmitted through rising world food prices. Our simulation results suggest...

Persistent link: https://www.econbiz.de/10009386585

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

Managing Future Oil Revenues in Ghana - An Assessment of Alternative Allocation Options

Breisinger, Clemens; Diao, Xinshen; Schweickert, Rainer; … - Institut für Weltwirtschaft (IfW) - 2009

between windfall profits, growth and households’ welfare is less straightforward than what the simple model of the "resource … productivity enhancing investments and an oil fund is crucial to achieving both shared growth and macroeconomic stability …

Persistent link: https://www.econbiz.de/10005012879

Welfare effects of intellectual property in North-South model of endogenous growth with comparative advantage

Saint-Paul, Gilles - Institut für Weltwirtschaft (IfW) - 2007

consumers, and what the growth potential of these goods is. While, all else equal, the North tends to lose more (or gain less …

Persistent link: https://www.econbiz.de/10005097461