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This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [18]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical difficulties. So far, in this...
Persistent link: https://www.econbiz.de/10011267860
This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [18]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical difficulties. So far, in this...
Persistent link: https://www.econbiz.de/10005260172
In this paper the dynamic programming approach is exploited in order to identify the closed loop policy function, and the consumption smoothing mechanisms in an endogenous growth model with time to build, linear technology and irreversibility constraint in investment. Moreover the link among the...
Persistent link: https://www.econbiz.de/10005059095
We propose a two-country growth model of intermediate business-services trade that captures the role of time zone differences. It is shown that a time-saving improvement in intermediate business-services trade involving production in different time zones can have a permanent impact on productivity.
Persistent link: https://www.econbiz.de/10008636466
This paper analyzes, within its feasible parameter space, the dynamics of the Uzawa-Lucas endogenous growth model. The model is solved from a centralized social planner perspective as well as in the model’s decentralized market economy form. We examine the stability properties of both versions...
Persistent link: https://www.econbiz.de/10011260401
Economists differ on their views regarding importance of financial system for economic growth. This paper presents a brief study of contribution of economists regarding the relationship between financial intermediation and economic growth. It has been found that when including the acquisition of...
Persistent link: https://www.econbiz.de/10008536839
This paper is simply a user manual of un APP that simulates the widely used Macroeconomic Models.
Persistent link: https://www.econbiz.de/10011107358
As a burgeoning capital market in an emerging economy, automation of the stock market is regarded as a major step towards integrating the financial market as a conduit for economic growth. The automation of the Ghana Stock Exchange (GSE) in 2008 is expected among other things to improve the...
Persistent link: https://www.econbiz.de/10011107800
This study examines the relationship among OFW remittances, inequality and quality of life in the Philippines. The study covered the period from 1990 to 2011 and employed Vector autoregressive (VAR) analysis to examine the relationship among the variables. Over the years, Human Development Index...
Persistent link: https://www.econbiz.de/10011108172
This paper presents estimates of the rate of profit on fourteen countries in the long run. The performance shows a clear downward trend, although there are periods of partial recovery in both core and peripheral countries. The behavior of the profit rate confirms the predictions made by Marx,...
Persistent link: https://www.econbiz.de/10011108239