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Finance, Talent Allocation, and Growth
D'Acunto, Francesco - 2018
The growing finance wage premium is related to a modest net reallocation of skilled workers from non-finance sectors into finance in a broad sample of 24 countries over 35 years. The reallocation is higher when the finance wage premium grows faster than the contribution of the financial sector...
Persistent link: https://www.econbiz.de/10012922660
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Can General Purpose Technology Theory Explain Economic Growth? Electrical Power as a Case Study
Ristuccia, Cristiano Andrea - 2015
Does the concept of General Purpose Technologies help explain periods of faster and slower productivity advance in economies? The paper develops a new comparative data set on the usage of electricity in the manufacturing sectors of the USA, Britain, France, Germany and Japan and proceeds to...
Persistent link: https://www.econbiz.de/10013033865
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Skilled Worker Migration and Trade : Inequality and Welfare
Bougheas, Spiros - 2011
We develop a two-sector, two-country model where trade is driven by technological differences. Each country is populated by large number of heterogeneous workers distinguished by their level of skills. Given that one country has a technological advantage in the skilled intensive good when we...
Persistent link: https://www.econbiz.de/10013132017
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Top Incomes, Rising Inequality, and Welfare
Lansing, Kevin J. - 2012
This paper develops a general-equilibrium model of skill-biased technological change that approximates the observed shifts in the shares of wage and non-wage income going to the top decile of U.S. households since 1980. Under realistic assumptions, we find that all agents can benefit from the...
Persistent link: https://www.econbiz.de/10013098333
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Top Incomes, Rising Inequality, and Welfare
Lansing, Kevin J.; Markiewicz, Agnieszka - 2021
We introduce permanently-shifting income shares into a standard growth model with two types of agents. Capital owners represent the top quintile of U.S. households while workers represent the remainder. Our tractable model allows us to exactly replicate the observed U.S. time paths of the top...
Persistent link: https://www.econbiz.de/10013315527
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Commodity Windfalls, Polarization, and Net Foreign Assets : Panel Data Evidence on the Voracity Effect
Arezki, Rabah - 2013
This paper examines the effects that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign...
Persistent link: https://www.econbiz.de/10013092044
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A Rise By Any Other Name? Sensitivity of Growth Regressions to Data Source
Hanousek, Jan - 2008
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...
Persistent link: https://www.econbiz.de/10012773476
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Measurement Error in Education and Growth Regressions
Portela, Miguel - 2008
The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
Persistent link: https://www.econbiz.de/10012774497
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Demographic Structure and Macroeconomic Trends
Aksoy, Yunus; Basso, Henrique S.; Smith, Ron; Grasl, Tobias - 2021
The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a Panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....
Persistent link: https://www.econbiz.de/10013315503
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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