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An open-economy Ramsey-Cass-Koopmans model in reduced form
Spiro, Daniel - 2021
-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK … country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …
Persistent link: https://www.econbiz.de/10012619417
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Natural disasters and the effect of trade on income : a new panel IV approach
Felbermayr, Gabriel; Gröschl, Jasmin - 2011
Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...
Persistent link: https://www.econbiz.de/10009240715
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Discretionary fiscal policy and economic activity in Greece
Tagkalakis, Athanasios - In: Empirica : journal of european economics 41 (2014) 4, pp. 687-712
Persistent link: https://www.econbiz.de/10010482478
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Monetary and fiscal management, finance, and growth
Thorvaldur Gylfason - 2004
This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications of economic integration for monetary and fiscal policy, especially the narrow focus on low inflation as the main objective of monetary policy. I argue that...
Persistent link: https://www.econbiz.de/10011404264
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The macroeconomic challenges of scaling up aid to Africa
Gupta, Sanjeev; Powell, Robert; Yang, Yongzheng - 2005
Persistent link: https://www.econbiz.de/10003222296
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Monetary and fiscal management, finance, and growth
Thorvaldur Gylfason - In: Empirica : journal of european economics 31 (2004) 2/3, pp. 71-91
Persistent link: https://www.econbiz.de/10002424932
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Macroeconomic policy lessons for Greece from the debt crisis
Oikonomidēs, Geōrgios; Papageorgiou, Dimitris; … - 2020
This paper first searches for the drivers of the Greek depression in the aftermath of the 2007-8 global crisis and in turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our simulations show that the adopted adjustment program (namely, the...
Persistent link: https://www.econbiz.de/10012195896
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The volatility curse : revisiting the paradox of plenty
Ploeg, Frederick van der; Poelhekke, Steven - 2009
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling for initial income per capita, population growth, human capital, investment, openness and natural resource dependence. This effect is significant and robust over a wide range of...
Persistent link: https://www.econbiz.de/10003832092
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Oil exports and the Iranian economy
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2009
effects of oil exports are taken into account, the estimates support output growth convergence between Iran and the rest of …
Persistent link: https://www.econbiz.de/10003897747
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The pungent smell of "red herrings" : subsoil assets, rents, volatility and the resource curse
Ploeg, Frederick van der; Poelhekke, Steven - 2010
Brunnschweiler and Bulte (2008) provide cross-country evidence that the resource curse is a "red herring" once one corrects for endogeneity of resource exports and allows resource abundance affect growth. Their results show that resource exports are no longer significant while the value of...
Persistent link: https://www.econbiz.de/10003956035