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Welfare Analysis in a Schumpeterian Growth Model with Capital

Hagedorn, Marcus; Kaul, Ashok; Reinthaler, Volker - Institute for the Study of Labor (IZA) - 2001

In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...

Persistent link: https://www.econbiz.de/10005703487

Dynamics of Labour and Capital Adjustment - A Comparison of Germany and the Netherlands

Polder, Michael; Verick, Sher - Institute for the Study of Labor (IZA) - 2004

In this paper we investigate the dynamic adjustment of labour and capital in German and Dutch firms. The Dutch labour market is characterised by greater flexibility in wages and work arrangements in comparison to Germany. These institutional differences imply that employment dynamics in the two...

Persistent link: https://www.econbiz.de/10005703624

Factor Adjustments after Deregulation: Panel Evidence from Colombian Plants

Eslava, Marcela; Haltiwanger, John; Kugler, Adriana; … - Institute for the Study of Labor (IZA) - 2005

In this paper, we analyze employment and capital adjustments using a panel of plants from Colombia. We allow for nonlinear adjustment of employment to reflect not only adjustment costs of labor but also adjustment costs of capital, and vice-versa. Using data from the Annual Manufacturing Survey,...

Persistent link: https://www.econbiz.de/10005703671

Financial Development, Environmental Quality, Trade and Economic Growth: What Causes What in MENA Countries

Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - Institute for the Study of Labor (IZA) - 2015

This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between...

Persistent link: https://www.econbiz.de/10011195814

Financial Development and Economic Growth: Evidence from Ten New EU Members

Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - Institute for the Study of Labor (IZA) - 2014

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

Persistent link: https://www.econbiz.de/10011096765

The Determinants of Foreign Direct Investment Flows to the Federal Region of Kurdistan

Heshmati, Almas; Davis, Rhona - Institute for the Study of Labor (IZA) - 2007

The flow of foreign direct investment (FDI) has increased dramatically in the last two decades. However, the distribution of FDI is highly unequal and the competition among countries to attract foreign investors is fierce. This report investigates the determinants of FDI inflows to developing...

Persistent link: https://www.econbiz.de/10005762073

Credit Constraints and the Persistence of Unemployment

Dromel, Nicolas; Kolakez, Elie; Lehmann, Etienne - Institute for the Study of Labor (IZA) - 2009

In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its persistence. For this purpose, we first develop a theoretical model based on the equilibrium matching framework of Mortensen and Pissarides (1999) and Pissarides (2000) where we...

Persistent link: https://www.econbiz.de/10008555357

The Cyclical Volatility of Labor Markets under Frictional Financial Markets

Petrosky-Nadeau, Nicolas; Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2010

Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke and Gertler 1989). We … follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity … frictions are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …

Persistent link: https://www.econbiz.de/10008466462

Unemployment Dynamics and the Cost of Business Cycles

Hairault, Jean-Olivier; Langot, François; Osotimehin, … - Institute for the Study of Labor (IZA) - 2008

reproduce the volatility of the job finding rate. Moreover, the matching model embeds other non-linearities which alter the …

Persistent link: https://www.econbiz.de/10005822080

The Impact of Aggregate and Sectoral Fluctuations on Training Decisions

Caponi, Vincenzo; Kayahan, Cevat Burc; Plesca, Miana - Institute for the Study of Labor (IZA) - 2009

So far the literature has found that the effect of macroeconomic fluctuations on training decisions is ambiguous. On the one hand, the opportunity cost to train is lower during downturns, and thus training should be counter-cyclical. On the other hand, a positive shock may be related to the...

Persistent link: https://www.econbiz.de/10005822107