Showing 1 - 10 of 456
Giffen reported that, in the late nineteenth century, English wheat consumption rose when its price increased – the first recorded “Giffen good”. Using Giffen’s data, I explain how he reached his conclusion. I then show that his analysis was faulty: price elasticity of demand appears...
Persistent link: https://www.econbiz.de/10011084480
We study the relationship between geography and growth. To do so, we first develop a dynamic spatial growth theory with … realistic geography. We characterize the model and its balanced growth path and propose a methodology to analyze equilibria with …
Persistent link: https://www.econbiz.de/10011252617
contributed to Austria's post-war growth and the evolution of its pattern of trade over time. The paper looks at two lessons for … small relative share of R&D in GDP. The paper uses insights from recent dynamic theories of trade to explain these three … the Austrian experience, industrial and trade policy for economies in transition is discussed. …
Persistent link: https://www.econbiz.de/10005666891
-1878. There were three forces at work that account for Mexican exceptionalism: first, the terms of trade and Dutch disease effects …
Persistent link: https://www.econbiz.de/10005123574
A recent endogenous growth literature has focused on the transition from a Malthusian world where real wages were … linked to factor endowments, to one where modern growth has broken that link. In this Paper we present evidence on another … locate the causes in the Industrial Revolutionary forces emphasized by endogenous growth theorists, we provide evidence that …
Persistent link: https://www.econbiz.de/10005123980
to trade policy reforms. The paper employs a simple growth model to examine these effects, formally developing the …This paper emphasizes the relevance of classical transition dynamics for trade policy, particularly for developing … countries. The empirical evidence from cross-country growth regressions points to important transitional growth effects related …
Persistent link: https://www.econbiz.de/10005124093
directly related to the level of external trade - which implies that commercial policy can affect economic growth. In … particular, unilateral trade liberalization may increase steady-state income growth in all countries. …, while introducing some modifications that transform it into an open economy endogenous growth model with knowledge …
Persistent link: https://www.econbiz.de/10005136567
To the extent that trade policy affects trade flows between countries, the ramifications can be far-reaching from an … economic growth perspective. This paper examines one aspect of these ramifications, namely the impact of changes in the extent … of trade between countries on changes in the rate of reduction in the size of the income gap that exists between them …
Persistent link: https://www.econbiz.de/10005136577
How much of China’s recent economic performance can be attributed to market-oriented reforms introduced in the last two decades? A long-run perspective may be important for understanding the process of economic development occurring today. This Paper compares the integration of rice markets in...
Persistent link: https://www.econbiz.de/10005136759
We review the literature on the links between technology and international trade. The older literature assumed … exogenous technologies and focused on their effects on the structure of foreign trade and on welfare. Recently much of the … effort has been on explaining technological change. As a result, we also describe the effects of foreign trade on …
Persistent link: https://www.econbiz.de/10005067514