Showing 1 - 6 of 6
Zimbabwe faces growth and external competitiveness challenges, as indicated by its low trend growth and investment … 2008 economic collapse and under the current multicurrency regime. While overvaluation hampers GDP growth, as well as … growth and employment in export sectors, we have not found that undervaluation would raise it. Replacing the multicurrency …
Persistent link: https://www.econbiz.de/10010936535
income countries, reach strong, sustained and shared growth in the post-crisis world. The paper first reviews, with a special … predominated prior to the crisis towards growth. Fiscal policy is key in this regard, through public outlays on infrastructure …
Persistent link: https://www.econbiz.de/10010545913
Centrally planned economies tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how planned economies can end up in a low-effort,...
Persistent link: https://www.econbiz.de/10005489931
liberalization on growth, taking into account constraints imposed by the ‘Mundell’s trilemma’. The model, calibrated to data for …
Persistent link: https://www.econbiz.de/10011124478
We model the emergence of organization forms in a game between prospective entrepreneurs. Complementary roles arise endogenously in a way that admits a stable assignment of workers to firms. This contrasts with existing work on job matching, where stability typically requires workers to be...
Persistent link: https://www.econbiz.de/10005016278
We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these...
Persistent link: https://www.econbiz.de/10008513213