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In mainstream growth theory, including endogenous growth theory, the naturalrate of growth as defined by Harrod, is still treated as exogenous. In practice, however, both the growth of the labour force and the growth of labour productivity are endogenous to demand. This has theoretical...
Persistent link: https://www.econbiz.de/10010854304
Trade liberalisation in Mexico started in a significant way in 1985/86, and was consolidated by the NAFTA agreement 1994. Mexico was expected to benefit in terms of increased export growth, employment, real wages, and above all, a faster rate of economic growth. In practice, there has been a...
Persistent link: https://www.econbiz.de/10010854329
The authors reply to the comment of Boggio and Seravalli about the paper "Is the natural rate of growth exogenous?".
Persistent link: https://www.econbiz.de/10010655972