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A Generalized Steady-State Growth Theorem

Irmen, Andreas - 2013

Uzawa's steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The...

Persistent link: https://www.econbiz.de/10013072509

Growth and Enduring Epidemic Diseases

Bell, Clive - 2006

This paper studies the formation of human capital and its transmission across generations when premature adult mortality is a salient feature of the demographic landscape, either permanently or in the form of a long-period wave that follows the outbreak of an epidemic. We establish several...

Persistent link: https://www.econbiz.de/10012779950

Something Out of Nothing? Neoclassical Growth and the 'Trivial' Steady State

Hakenes, Hendrik - 2006

A common perception about the neoclassical growth model is that an economy devoid of capital cannot evolve to strictly positive levels of output if capital is essential. We challenge this view by positing a broad class of production functions, encompassing the neoclassical production function,...

Persistent link: https://www.econbiz.de/10012780464

The Productivity Slowdown and the Declining Labor Share : A Neoclassical Exploration

Grossman, Gene M. - 2017

We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor share of national income. In a neoclassical growth model with endogenous human capital accumulation à la Ben Porath (1967) and capital-skill complementarity à la Grossman et...

Persistent link: https://www.econbiz.de/10012942005

Elite Education, Mass Education, and the Transition to Modern Growth

Strulik, Holger - 2015

We propose an innovation-driven growth model in which education is determined by family background and cognitive ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers market R&D. This means that our model rationalizes two...

Persistent link: https://www.econbiz.de/10013009852

An Empirical Growth Model for Major Oil Exporters

Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2021

This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the 'Dutch disease' and the 'resource curse', which primarily focuses on...

Persistent link: https://www.econbiz.de/10013315924

Steady-State Growth and the Elasticity of Substitution

Irmen, Andreas - 2021

In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...

Persistent link: https://www.econbiz.de/10013316247

Fair and Efficient Taxation Under Partial Control : Theory and Evidence

Ooghe, Erwin - 2011

There is clear evidence that fairness plays a role in redistribution. Individuals want to compensate others for their misfortune, while they allow them to enjoy the fruits of their effort. This paper introduces fairness in a tax-benefit scheme that is based on several characteristics in order to...

Persistent link: https://www.econbiz.de/10013122256

The Dutch Disease in Reverse : Iceland's Natural Experiment

Gylfason, Thorvaldur - 2017

For a long time, abundant natural resources brought Iceland a high and volatile real exchange rate with adverse effects …

Persistent link: https://www.econbiz.de/10012952478

The Anatomy of Constitution Making : From Denmark in 1949 to Iceland in 2017

Gylfason, Thorvaldur - 2017

This paper reviews aspects of the constitution making process in Iceland after the financial collapse of 2008 …, emphasizing the differences between the provisional constitution of 1944 when Iceland separated unilaterally from Nazi …-occupied Denmark and Denmark's 1849 constitution which served, with notable exceptions, as the prototype for Iceland's 1944 …

Persistent link: https://www.econbiz.de/10012953950