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Secular stagnation : is immigration part of the solution?

Alves, José; Morgado, Sandro - 2022

In our article we review the secular stagnation hypothesis, firstly postulated by Hansen (1939), to describe the … definition of secular stagnation founded on four pillars: diminished long run growth potential, increasing aggregate demand … secular stagnation. For that, we consider one of the most evoked factors causing secular stagnation, demographics in the form …

Persistent link: https://www.econbiz.de/10012815750

The role of the state in economic development

Tabellini, Guido Enrico - 2004

This paper discusses the recent literature on the role of the state in economic development. It concludes that government incentives to enact sound policies are key to economic success. It also discusses the evidence on what happens after episodes of economic and political liberalizations,...

Persistent link: https://www.econbiz.de/10011450487

Impact of colonial institutions on economic growth and development in India : evidence from night lights data

Jha, Priyaranjan; Talathi, Karan - 2021

We study the implications of two historical institutions, direct British rule, and the heterogeneous land tenure institutions implemented by the British, on disparity in present day development using district level data from India. Using nightlights per capita as a proxy for district level per...

Persistent link: https://www.econbiz.de/10012508730

How I learned to stop worrying and love the crisis

Fidrmuc, Jan; Tichit, Ariane - 2012

We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the...

Persistent link: https://www.econbiz.de/10009488896

Evaluation of long-dated investments under uncertain growth trend, volatility and catastrophes

Gollier, Christian - 2012

Because of the uncertainty about how to model the growth process of our economy, there is still much confusion about which discount rates should be used to evaluate actions having long-lasting impacts, as in the contexts of climate change, social security reforms or large public infrastructures...

Persistent link: https://www.econbiz.de/10009689360

The positive link between financial liberalization, growth, and crises

Tornell, Aaron; Westermann, Frank; Martínez Trigueros, … - 2004

There is no agreement regarding the growth-enhancing effects of financial liberalization, mainly because it is associated with risky international bank flows, lending booms, and crises. In this paper we make the case for liberalization despite the occurrence of crises. We show that in developing...

Persistent link: https://www.econbiz.de/10011402501

Systemic crisis and growth revisited : has the global financial crisis marked a new era?

Steinkamp, Sven; Westermann, Frank - 2018

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

Persistent link: https://www.econbiz.de/10011863602

Switching-track after the great recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10012533939

The farmer, the blue-collar, and the monk : understanding economic development through saturations of demands and non-homothetic productivity gains

Gray, Elie; Grimaud, André; Le Bris, David - 2018 - This draft: April 9, 2018

" exhibiting slow growth, a fast growth regime after a takeoff, and a gradual slow down leading to a possible new stagnation) and …

Persistent link: https://www.econbiz.de/10011819388

Hurricanes, economic growth and transmission channels : empirical evidence for developed and underdeveloped countries

Berlemann, Michael; Wenzel, Daniela - 2016

While the short-term growth consequences of natural disasters are comparatively well studied, there is little knowledge how disasters affect long-run growth. Based on truly exogenous storm indicators, derived from a meteorological database, we show that the growth effects of tropical storms go...

Persistent link: https://www.econbiz.de/10011521860

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