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The Real Exchange Rate and Growth in Zimbabwe: Does the Currency Regime Matter?
Brixiová, Zuzana; Ncube, Mthuli - William Davidson Institute, University of Michigan - 2014
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
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CAPITAL ACCOUNT POLICIES, IMF PROGRAMS AND GROWTH IN DEVELOPING REGIONS
Bicaba, Zorobabel; Brixiová, Zuzana; Ncube, Mthuli - William Davidson Institute, University of Michigan - 2014
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
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Firm Formation with Complementarities: The Role of the Entrepreneur
Roessler, Christian; Koellinger, Philipp - Tinbergen Institute - 2009
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
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Is More Entrepreneurship better?
Koellinger, Philipp; Roessler, Christian - Tinbergen Institute - 2009
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