Why is GDP growth so much more volatile in poor countries than in rich ones? We identify four possible reasons: (i … volatility into these four sources, quantify their contribution to aggregate volatility, and study how they relate to the stage …, and slowly increases at later stages of development. Third, the volatility of country-specific macroeconomic shocks falls …

food demand functions; economic growth; Tobin’s q; the ‘Tobin Tax’ ; the monetary and fiscal policy effectiveness debate …

economies with imperfect credit markets, per capita output volatility tends to be higher than in economies with perfect or non …

Why is GDP growth so much more volatile in poor countries than in rich ones? We identify four possible reasons: (i … volatility into these four sources, quantify their contribution to aggregate volatility, and study how they relate to the stage …, and slowly increases at later stages of development. Third, the volatility of country- specific macroeconomic shocks falls …

productivity in the UK while leaving the long run growth rate unaffected. Based entirely on pre-crisis data, and using a two …-sector growth model, I project the future growth rate of GDP per hour in the market sector to be 2.61% p.a. Based on a cross …

? How are wages determined? What role do labor market dynamics play in explaining business cycles and growth? The survey …

lower the volatility of output growth. Technological complexity evolves endogenously in response to profit incentives. The …Economies at early stages of development are often shaken by abrupt changes in growth rates, whereas in advanced … economies growth rates tend to be relatively stable. To explain this pattern, we propose a theory of technological …