dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the … model for the US economy. First, we establish that the net effect of a decline in population growth on the growth rate of … the growth performance and for individual welfare. Third, we show that the assessment of pension reform proposals may be …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …

One of the most striking regularities of the growth process is the massive reallocation of labour from agriculture into … industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well …-known Kaldor facts about economic growth. Unfortunately, these models are inconsistent with the structural change dynamics that are …

This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita … main external shocks. The paper also argues that rapid growth interacted with weak institutions in a way that contributed …

industrialization and, thereby, their take-off to a state of sustained economic growth. The theory contributes to the understanding of …

economic growth after controlling for institutional quality, openness, and initial income. These results do not survive once we …

--sector extension of the one--sector growth model that encompasses the main existing theories of structural transformation. We argue …

and economic growth. It examines a sequence of theoretical models that share a common description of technology and … explanations of income differences and long-run trends in economic growth. …

If capital is an essential input, the neoclassical growth model has a steady state with zero capital. From this, one is …