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Regional inequality, convergence, and its determinants : a view from outer space
Lessmann, Christian; Seidel, André - 2015 - This version: 16.04.2015
This paper provides a new data set of regional income inequalities within countries based on satellite nighttime light data. We first empirically study the relationship between luminosity data and regional incomes for those countries where regional income data are available. We subsequently use...
Persistent link: https://www.econbiz.de/10010515477
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Business uncertainty in developing and emerging economies
Avalos, Edgar; Barrero, Jose Maria; Davies, Elwyn; … - 2024
volatility generates investment and growth opportunities in poor countries. But high uncertainty and low overprecision slow …
Persistent link: https://www.econbiz.de/10015071152
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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
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Physical capital estimates for China's provinces, 1952-2015 and beyond
Holz, Carsten A.; Yue, Sun - 2017
Capital estimates are widely used in economic growth and productivity studies, for profitability considerations and wealth accounting exercises. Yet the calculation of "capital" frequently receives only cursory attention, despite the challenges posed by conceptual difficulties, the complexity of...
Persistent link: https://www.econbiz.de/10011653808
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International capital allocations and the Lucas Paradox redux
Chirinko, Robert S.; Mallick, Debdulal - 2019
This paper studies the marginal product of private capital (MPK) with new data and a new framework to obtain a better understanding of international capital allocations and the Lucas Paradox (LP). Our point of departure is three influential studies of MPK's and, based on the most recently...
Persistent link: https://www.econbiz.de/10012057304
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The changing patterns of investment in the PRC economy
Holz, Carsten A. - 2017
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and … ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns … economy-wide data with various breakdown. Significant shifts in investment patterns across sectors and ownership forms have …
Persistent link: https://www.econbiz.de/10011657882
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China's investment rate : implications and prospects
Holz, Carsten A. - 2017
it driven by investment and capital accumulation. By 2014, gross capital formation had reached 46 percent of aggregate … expenditures. This paper documents the role of investment in driving economic growth in China, questions how much longer China can … sustain a relatively high investment rate, and examines the arguments that have been offered for an impending drastic …
Persistent link: https://www.econbiz.de/10011659322
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The marginal product of capital : a persistent international puzzle
Chirinko, Robert S. (contributor);  … - 2008
Large and sustained differences in marginal products of capital (MPKs) across countries are sharply at odds with the core implications of the neoclassical framework. Lucas (1990) and many subsequent studies have examined reasons for this MPK differential. In a recent contribution, Caselli and...
Persistent link: https://www.econbiz.de/10003751180
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Stock market cycles and supply side dynamics : two worlds, one vision?
De Grauwe, Paul; Gerba, Eddie - 2015
The paper compares two state-of-art but very dinstinct methods used in macroeconomics: rational-expectations DSGE and bounded rationality behavioural models. Both models are extended to include a financial friction on the supply side.The result in both models is that production, supply of credit...
Persistent link: https://www.econbiz.de/10011374197
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Uncertainty, imperfect information, and expectation formation over the firm's life cycle
Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2020
Using a long-panel dataset of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated forecast errors. However, they make more precise...
Persistent link: https://www.econbiz.de/10012258487