Narrow search
Showing 1 - 10 of 1,668
Cover Image
An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2021
-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy’s steady state growth …
Persistent link: https://www.econbiz.de/10013315924
Cover Image
Technological Progress, the Supply of Hours Worked, and the Consumption-Leisure Complementarity
Irmen, Andreas - 2018
At least since 1870 hours worked per worker declined and real wages increased in many of today's industrialized countries. The dual nature of technological progress in conjunction with a consumption-leisure complementarity explains these stylized facts. Technological progress drives real wages...
Persistent link: https://www.econbiz.de/10012925257
Cover Image
Technology, Market Structure and the Gains from Trade
Impullitti, Giammario - 2018
We study the gains from trade in an economy with oligopolistic competition, firm heterogeneity, and innovation. Oligopolistic competition together with free entry make markups responsive to firm productivity and trade costs. Lowering trade costs reduces markups on domestic sales but increases...
Persistent link: https://www.econbiz.de/10012930693
Cover Image
Non-Cooperative and Cooperative Climate Policies with Anticipated Breakthrough Technology
Jaakkola, Niko - 2018
Global warming can be curbed by pricing carbon emissions and thus substituting fossil fuel with renewable energy consumption. Breakthrough technologies (e.g., fusion energy) can reduce the cost of such policies. However, the chance of such a technology coming to market depends on investment. We...
Persistent link: https://www.econbiz.de/10012917020
Cover Image
Renewable Technology Adoption and the Macroeconomy
Adão, Bernardino - 2017
We study the effect of technological progress on the optimal transition to a renewable energy-fueled world economy. We develop a dynamic general equilibrium model where energy is used as an input in production and can come from fossil or renewable sources. Both require the use of capital, which...
Persistent link: https://www.econbiz.de/10012960106
Cover Image
Economic Retirement Age and Lifelong Learning - A Theoretical Model with Heterogeneous Labor, Biased Technical Change and International Sourcing
Gries, Thomas - 2017
The employability of an aging population in a world of continuous and biased technical change is top of the political agenda. Due to endogenous human capital depreciation the effective retirement age is often below statutory retirement age resulting in permanent non-employability of older...
Persistent link: https://www.econbiz.de/10012964188
Cover Image
Anonymity, Efficiency Wages and Technological Progress
Broadberry, Stephen N. - 2016
Although the Industrial Revolution is often characterized as the culmination of a process of commercialisation, the precise nature of such a link remains unclear. This paper provides an analysis of one such link: the role of commercialisation in raising wages as impersonal labour market...
Persistent link: https://www.econbiz.de/10012988225
Cover Image
Stranded Assets, the Social Cost of Carbon, and Directed Technical Change : Macroeconomic Dynamics of Optimal Climate Policy
van der Ploeg, Rick - 2016
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for stock-dependent fossil fuel extraction costs and partial exhaustion of fossil fuel reserves, a negative impact of global warming on growth, mean reversion in climate damages,...
Persistent link: https://www.econbiz.de/10012996198
Cover Image
Identity-Driven Cooperation Versus Competition
Snower, Dennis J. - 2016
This paper seeks to extend the domain of identity economics by exploring motivational foundations of in-group cooperation and out-group competition. On this basis, we explore the reflexive interaction between individual economic decisions and social identities in response to technological change...
Persistent link: https://www.econbiz.de/10012996263
Cover Image
Balanced Growth Despite Uzawa
Grossman, Gene M. - 2016
Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that introducing human capital...
Persistent link: https://www.econbiz.de/10012996335