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To React or Not? Fiscal Policy, Volatility and Welfare in the EU-3

Malley, Jim - 2008

This paper develops a dynamic stochastic general equilibrium model to examine the quantitative macroeconomic implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is the particular market failure justifying policy...

Persistent link: https://www.econbiz.de/10012773638

Immigration, fertility, and human capital: A model of economic decline of the West

Azarnert, Leonid V. - 2010

I show how the influences of unskilled immigration, differential fertility between immigrants and the local indigenous population, and incentives for investment in human capital combine to predict the decline of the West. In particular, indigenous low-skilled workers lose from unskilled...

Persistent link: https://www.econbiz.de/10010270531

The Impact of the Spatial Population Distribution on Economic Growth : Evidence from the United States

Bürgi, Constantin; Gorgulu, Nisan - 2022

We look at a part of the spatial angle of economic growth. We introduce a new measure Spatial Population Concentration (SPC) that captures the weighted average population surrounding every person within a geographic area. The weights are a function of the distance between the person in question...

Persistent link: https://www.econbiz.de/10014243162

Structural Unemployment, Underemployment, and Secular Stagnation

Hashimoto, Ken-Ichi - 2020

is persistent demand shortage. We show that, under some conditions, a secular stagnation steady state exists in which the … addition to the job creation channel of the standard matching model. Turning to the stagnation equilibrium, the effects of … employment gap under stagnation are primarily driven by fluctuations in underemployment instead of structural unemployment. Our …

Persistent link: https://www.econbiz.de/10012832192

Inequality Undermines Democracy and Growth

Gylfason, Thorvaldur - 2019

Income equality and trust seem to go along with several other ingredients of social capital as determinants of economic growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank and by The Standardized World Income Inequality...

Persistent link: https://www.econbiz.de/10012892099

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

Commanding Nature by Obeying Her : A Review Essay on Joel Mokyr's a Culture of Growth

Spolaore, Enrico - 2019

Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...

Persistent link: https://www.econbiz.de/10012865698

The Interplay of Economic, Social and Political Fragmentation

Bosworth, Steven - 2019

This paper examines how skill-biased growth can generate economic fragmentation (income dis-parities) that give rise to social fragmentation (the adoption of increasingly incompatible social identities and values), which generate political fragmentation (the adoption of increasingly incompatible...

Persistent link: https://www.econbiz.de/10012859600

Growth and Long-Run Sustainability

Cairns, Robert D. - 2019

From any state of economic and environmental assets, the maximin value defines the highest level of utility that can be sustained forever. Along any development path, the maximin value evolves over time according to investment decisions. If the current level of utility is lower than this value,...

Persistent link: https://www.econbiz.de/10012861429

Technological Growth and Hours in the Long Run : Theory and Evidence

Reif, Magnus; Tesfaselassie, Mewael F.; Wolters, Maik - 2021

Over the last decades, hours worked per capita have declined substantially in many OECD economies. Using a neoclassical growth model with endogenous work-leisure choice, we assess the role of trend growth slowdown in accounting for the decline in hours worked. In the model, a permanent reduction...

Persistent link: https://www.econbiz.de/10013222213

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