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Investment Rules and Time Invariance Under Population Growth

Asheim, Geir - 2020

We propose an adaptation of Hartwick's investment rule to models with population growth and show that following Hartwick's rule is equivalent to a time-invariant real per capita net national product. In the so-called DHSS model of capital accumulation and resource depletion the proposed...

Persistent link: https://www.econbiz.de/10012824585

The Neoclassical Growth of China

Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - 2023

This paper studies China’s four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China’s growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...

Persistent link: https://www.econbiz.de/10014347723

Climate Change Expectations and Endogenous Economic Growth in the Dice Model

Ciesielski, Anna - 2019

This paper studies the investment based growth rate effects of climate change. The analysis is based on the Integrated Assessment Model DICE by Nordhaus (2008). I depart from the original model, in that endogenous investments into a knowledge stock drive economic growth. Due to a negative...

Persistent link: https://www.econbiz.de/10012865176

Does Tax Competition Really Promote Growth?

Koethenbuerger, Marko; Lockwood, Ben - 2021

This paper considers the relationship between tax competition and growth in an endogenous growth model where there are stochastic shocks to productivity, and capital taxes fund a public good which may be for final consumption or an infrastructure input. Absent stochastic shocks, decentralized...

Persistent link: https://www.econbiz.de/10013316823

Public Education Expenditure, Growth and Welfare

Angelopoulos, Konstantinos; Malley, Jim; … - 2021

In this paper we study the quantitative macroeconomic effects of public education spending in USA for the post-war period. Using comparable measures of human and physical capital, from Jorgenson and Fraumeni (1989, 1992a,b), we calibrate a standard dynamic general equilibrium model where human...

Persistent link: https://www.econbiz.de/10013316996

Economic Globalisation and Africa's Quest for Greener and More Inclusive Growth : The Missing Link

Ofori, Isaac K; Freytag, Andreas; Asongu, Simplice A. - 2023

inclusive green growth (IGG) relationship in Africa. Based on macro data for 22 African countries and the Driscoll …-Kraay standard errors with fixed effects instrumental variable regression, the following findings are established. First, Africa … threshold analysis suggests that by improving Africa’s mostly unfree economic architecture to 60% (moderately free) or 80% (free …

Persistent link: https://www.econbiz.de/10014347989

Sectoral Okun's Law and Cross-Country Cyclical Differences

Goto, Eiji - 2020

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...

Persistent link: https://www.econbiz.de/10012841145

The Impact of Product and Labour Market Reform on Growth : Evidence for OECD Countries Based on Local Projections

de Haan, Jakob - 2020

This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...

Persistent link: https://www.econbiz.de/10012829322

The Contribution of Human Capital and its Policies to Per Capita Income in Europe and the OECD

Égert, Balázs; Botev, Jarmila; Turner, David - 2021

This paper studies empirically the effect of education policies on human capital and per capita income. The results suggest for European and OECD countries that higher attendance at pre-primary education, greater autonomy of schools and universities, a lower student-to-teacher ratio, higher age...

Persistent link: https://www.econbiz.de/10013314766

How deep are the roots of economic development?

Spolaore, Enrico; Wacziarg, Romain - 2012

The empirical literature on economic growth and development has moved from the study of proximate determinants to the analysis of ever deeper, more fundamental factors, rooted in long-term history. A growing body of new empirical work focuses on the measurement and estimation of the effects of...

Persistent link: https://www.econbiz.de/10010283630

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