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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

Simulation and estimation of hedonic models

Heckman, James J. - 2003

Making use of restrictions imposed by equilibrium, theoretical progress has been made on the nonparametric and semiparametric estimation and identification of scalar additive hedonic models (Ekeland, Heckman, and Nesheim, 2002) and scalar nonadditive hedonic models (Heckman, Matzkin, and...

Persistent link: https://www.econbiz.de/10011509388

Aging and health care expenditures : a non-parametric approach

Lorenz, Normann; Ihle, Peter; Breyer, Friedrich - 2020

One of the most important controversies in health economics concerns the question whether the imminent aging of the population in most OECD countries will place an additional burden on the tax payers who finance public health care systems. Proponents of the “red-herring hypothesis” argue...

Persistent link: https://www.econbiz.de/10012200247

Steady-state growth and the elasticity of substitution

Irmen, Andreas - 2010

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/10003938203

Something out of nothing? : Neoclassical growth and the "trivial" steady state

Hakenes, Hendrik (contributor); Irmen, Andreas (contributor) - 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/10003301114

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10011398011

Immigration and economic growth in the OECD countries 1986 - 2006

Boubtane, Ekrame; Dumont, Jean-Christophe; Rault, Christophe - 2015

This paper offers a reappraisal of the impact of migration on economic growth for 22 OECD countries between 1986-2006 and relies on a unique data set we compiled that allows us to distinguish net migration of the native- and foreign-born populations by skill level. Specifically, after...

Persistent link: https://www.econbiz.de/10010533072

Incentives to work and performance in the public sector

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2015

This paper develops a dynamic general equilibrium model with three distinct social groups, capitalists, private workers and public employees. After solving for the status quo equilibrium, which can mimic the advantages of employment in the public sector in most EU countries, the paper looks for...

Persistent link: https://www.econbiz.de/10010477149

An empirical growth model for major oil exporters

Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2012

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/10009518225

Endogenous capital- and labor-augmenting technical change in the neoclassical growth model

Irmen, Andreas; Tabakovic, Amer - 2015

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a...

Persistent link: https://www.econbiz.de/10011404419