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the data than the standard growth accounting framework and allows for a breakdown of labor productivity into capital … efficiency levels, while they diverged in capital deepening and technological progress. …
Persistent link: https://www.econbiz.de/10005769137
The links between trade and growth are examined in a neoclassical model of an open economy in which domestic production requires both domestic and imported inputs. The model shows that trade distortions induced by such government policies as tariffs and exchange controls generate cross-country...
Persistent link: https://www.econbiz.de/10005599438
This paper reviews the experience of economic growth during the twentieth century with a view to highlighting implications for both growth economists and policy-makers. The unprecedented divergence in income levels between the OECD economies and many developing countries is documented but so too...
Persistent link: https://www.econbiz.de/10005605103
This paper uses a dynamic economy model, with unionized labor markets, to analyze the effects of labor market reforms, similar to those recently introduced in Germany, on the domestic and trading partner economies. The model is calibrated on Germany and the rest of the Euro area. The results...
Persistent link: https://www.econbiz.de/10005605373
This Selected Issues paper attempts to analyze the end-point problem and improve the quality of potential GDP estimates for Germany. It projects that Germany’s potential GDP growth will slow over the coming decade, mainly because of declining labor input. The paper focuses on a long-term...
Persistent link: https://www.econbiz.de/10005825173
and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … that the price of capital may have been significantly distorted in the 1990s and 2000s. The distortion could have been … China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms …
Persistent link: https://www.econbiz.de/10005769167
.S. economy. The potential returns to the U.S. from raising its investment rate in terms of both the level and growth rate of … the predictions of the neoclassical growth model. Endogenous growth models, which suggest a larger contribution of capital … to growth and long-run effects of investment on the growth rate, do not seem to be supported by the data. …
Persistent link: https://www.econbiz.de/10005263880
Over the last decade, GDP growth in emerging Asia was roughly twice as fast as average world growth. The IMF’s Global Economy Model (GEM) is used to estimate the impact that emerging Asia’s growth differential has had on Australia. The simulation analysis, which replicates some key...
Persistent link: https://www.econbiz.de/10008727805
This paper extends the q-theory of investment to model explicitly the decision of firms to invest in intangibles and … investment to the overall capital stock. The downward trend in the aggregate investment deflator series reported by national … measures the contribution of intangible goods to the overall capital stock in the U.S. The model highlights the embodiment of …
Persistent link: https://www.econbiz.de/10008470384
This paper provides a broad empirical analysis of the determinants of post-conflict economic transitions across the world during the period 1960–2010, using a dynamic panel estimation approach based on the system-generalized method of moments. In addition to an array of demographic,...
Persistent link: https://www.econbiz.de/10011242246