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for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that … neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior. The … rates in the industrial countries in the post-World War II period …
Persistent link: https://www.econbiz.de/10014400163
This paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and capacity utilization. We apply the model to 10 countries, in addition to the United States and the euro area. While there is a substantial amount of uncertainty around our estimates,...
Persistent link: https://www.econbiz.de/10014403161
Although the theoretical relationships are ambiguous, evidence suggestsa strong link between the choice of the exchange rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but also to slower growth in productivity. Itfinds that...
Persistent link: https://www.econbiz.de/10014399171
the period 1985–98. The association between military spending and corruption is ascertained by using panel regression …
Persistent link: https://www.econbiz.de/10014399916
To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 …
Persistent link: https://www.econbiz.de/10014399830
World Economic Outlook, consists of aggregate demand and supply relationships, with endogenous determination of interest …
Persistent link: https://www.econbiz.de/10014395761
The spectacular growth of many economies in East Asia over the past 30years has impressed the economics profession, which often refers to thesuccess of the so-called Four Tigers of the region (Hong Kong, Korea, Singapore, and Taiwan Province of China) as ""miraculous."" This papercritically...
Persistent link: https://www.econbiz.de/10014402766
This paper develops a model merging the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined. The empirical part of the paper presents estimates of the key...
Persistent link: https://www.econbiz.de/10014396167
This paper formulates a simple aggregate growth model that is capable of assessing the impact of macroeconomic policies on the long-term performance of a developing country. The model emphasizes expenditures on human capital and the dynamics of external debt, and yields empirically testable...
Persistent link: https://www.econbiz.de/10014396208
This paper analyses the impact of government tax and subsidy policy on immigration of human capital and the effect of such immigration on growth and incomes. In the context of a two-country endogenous growth model with heterogeneous agents and human capital accumulation, we argue that human...
Persistent link: https://www.econbiz.de/10014395877