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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
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The Econometrics of Oil Market VAR Models
Kilian, Lutz - 2020
Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...
Persistent link: https://www.econbiz.de/10012839764
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Productivity Shocks and Aggregate Fluctuations in an Estimated Endogenous Growth Model with Human Capital
Malley, Jim - 2011
Employing an endogenous growth model with human capital, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate fluctuations in output, consumption, investment and hours. Given the importance of accounting for both the...
Persistent link: https://www.econbiz.de/10013120659
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The Role of Human Capital in Structural Change and Growth in an Open Economy : Innovative and Absorptive Capacity Effects
Bye, Brita; Faehn, Taran - 2021
Since the financial crisis in 2008, slow growth has riddled Europe and the Covid-19 pandemic is amplifying the challenge. Promoting economic growth and transforming to a more knowledge-based industrial structure will be high on the agenda for the coming decades. We study how more and better...
Persistent link: https://www.econbiz.de/10013249658
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Redistributive Income Taxation with Directed Technical Change
Loebbing, Jonas - 2021
What are the implications of (endogenous) directed technical change for the design of redistributive income taxes? I study this question in a Mirrleesian economy augmented to include endogenous technology development and adoption choices by firms. Under certain conditions, any progressive tax...
Persistent link: https://www.econbiz.de/10013314849
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Fiscal Competition in Space and Time : An Endogenous-Growth Approach
Becker, Daniel Thomas; Rauscher, Michael - 2021
Is tax competition good for economic growth? The paper addresses this question by means of a simple model of endogenous growth. There are many small jurisdictions in a large federation and individual governments benevolently maximise the welfare of immobile residents. Investment is costly:...
Persistent link: https://www.econbiz.de/10013316964
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Globalization in the Time of COVID-19
Sforza, Alessandro - 2020
shock has a considerable impact on most economies in the world, especially when a share of the labor force is quarantined … networks. In this paper we incorporate production barriers induced by COVID-19 shock into a Ricardian model with sectoral … of the disruption in production that started in China and then quickly spread across the world. We find that the COVID-19 …
Persistent link: https://www.econbiz.de/10012837986
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How Shocks Affect International Reserves? A Quasi-Experiment of Earthquakes
Jinjarak, Yothin; Noy, Ilan; Ta, Quy - 2021
We evaluate the change in international reserves in the aftermath of significant external shocks. We examine the response of international reserves to shocks by using a quasi-experimental setup and focusing on earthquakes. The estimation is done on a panel of 103 countries over the period...
Persistent link: https://www.econbiz.de/10013315174
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COVID-19 shocking global value chains
Eppinger, Peter S.; Felbermayr, Gabriel; Krebs, Oliver; … - 2021
(in contrast to final goods trade) in transmitting the shock. In a hypothetical world without GVCs, the welfare loss due … with input-output linkages to gauge the effects of this adverse supply shock in China on the global economy through … countries even gain from the shock due to trade diversion. As a key methodological contribution, we quantify the role of GVCs …
Persistent link: https://www.econbiz.de/10013315297
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We are All in the Same Boat : Cross-Border Spillovers of Climate Shocks Through International Trade and Supply Chain
Feng, Alan; Li, Haishi; Wang, Yulin - 2023
Are land locked countries subject to sea-level rise risk? We highlight a new mechanism by which physical climate shocks affects countries’ macro-financial performance: the cross-border spillover effects that propagate through international trade. Basing our findings on historical data between...
Persistent link: https://www.econbiz.de/10014357033