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Credit, Land Speculation, and Long-Run Economic Growth

Hirano, Tomohiro; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024

This paper analyses the impact of credit expansions arising from increases in collateral values or lower interest rate policies on long-run productivity and economic growth in a two-sector endogenous growth economy with credit frictions, with the driver of growth lying in one sector...

Persistent link: https://www.econbiz.de/10014544757

The Long-run Effects of Transportation Productivity on the US Economy

Coşar, A. Kerem; Osotimehin, Sophie; Popov, Latchezar - National Bureau of Economic Research - 2024

We quantify the aggregate, regional and sectoral impacts of transportation productivity growth on the US economy over the period 1947-2017. Using a multi-region, multi-sector model that explicitly captures produced transportation services as a key input to interregional trade, we find that the...

Persistent link: https://www.econbiz.de/10015171651

The Aggregate Importance of Intermediate Input Substitutability

Peter, Alessandra; Ruane, Cian - National Bureau of Economic Research - 2023

We estimate long-run elasticities of substitution between intermediate inputs for Indian manufacturing plants. India's trade liberalization in the early 1990s provides an ideal natural policy experiment, with permanent and heterogeneous tariff reductions inducing changes in relative prices which...

Persistent link: https://www.econbiz.de/10014287334

Is the Electricity Sector a Weak Link in Development?

Colmer, Jonathan; Lagakos, David; Shu, Martin - National Bureau of Economic Research - 2024

This paper asks whether increasing productivity in the electricity sector can yield larger long-run GDP gains than suggested by electricity's small share of aggregate economic activity. We answer this question using a dynamic multi-sector model in which electricity is a strong complement to...

Persistent link: https://www.econbiz.de/10014468241

Measuring Economic Growth with a Fully Identified Three-Signal Model

Civelli, Andrea; Gaduh, Arya; Yousuf, Ahmed Sadek - National Bureau of Economic Research - 2023

We augment Henderson, Storeygard, and Weil (2012)'s two-signal model of true income growth with a third signal to overcome its underidentification problem. The additional moment conditions from the third signal help fully identify all model parameters without ad-hoc calibrations of the GDP's...

Persistent link: https://www.econbiz.de/10014322903

Spatial Dynamics

Desmet, Klaus; Parro, Fernando - National Bureau of Economic Research - 2025

We examine the recent literature that studies the spatial distribution of economic activity across both space and time. We discuss the methodological advances enabling the incorporation of dynamic forces of economic activity--such as endogenous innovation, forward-looking location choices,...

Persistent link: https://www.econbiz.de/10015326437

Cities as Engines of Opportunities : Evidence from Brazil

Barza, Radu; Glaeser, Edward L.; Hidalgo, César A.; … - National Bureau of Economic Research - 2024

Are developing-world cities engines of opportunities for low-wage earners? In this study, we track a cohort of young low-income workers in Brazil for thirteen years to explore the contribution of factors such as industrial structure and skill segregation on upward income mobility. We find that...

Persistent link: https://www.econbiz.de/10014544705

A Theory of Growth and Volatility at the Aggregate and Firm Level

Comin, Diego - 2005

productivity growth at the aggregate and firm level during the post-war period. Growth is driven by the development of both (i … affected primarily by the Schumpeterian dynamics associated with the development of R&D innovations. On the other hand, the … share of resources spent on development of general innovations increases with the stability of the market share of the …

Persistent link: https://www.econbiz.de/10012467175

Capital Account Liberalization, Institutional Quality and Economic Growth : Theory and Evidence

Klein, Michael W. - 2005

This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and...

Persistent link: https://www.econbiz.de/10012467573

The Evolution of Income and Fertility Inequalities over the Course of Economic Development : A Human Capital Perspective

Ehrlich, Isaac - 2004

development. In our model, heterogeneous families determine fertility and children's human capital, and generations are linked via …

Persistent link: https://www.econbiz.de/10012467797