Showing 1 - 10 of 370
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...
Persistent link: https://www.econbiz.de/10014293308
The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and labor as arguments. Are these conditions justifiable on economic grounds? Yes, they are: we show that a production function with positive, yet diminishing marginal products and...
Persistent link: https://www.econbiz.de/10010465163
How would climate change affect India’s agriculture which accounts for sixty percent of employment? We study the impact …
Persistent link: https://www.econbiz.de/10012177019
(agriculture, manufacturing and services) characterized by different productivity gains and by saturation levels in the demands of …
Persistent link: https://www.econbiz.de/10011819388
This study estimates the impact of excess precipitation (or the absence of rainfall) on productivity of agricultural … productivity. Overall, we find statistically significant declines in agricultural productivity that is associated with both floods …
Persistent link: https://www.econbiz.de/10013093054
price shocks. Following a migrant inflow, labor costs decline and employment expands. Labor productivity decreases sharply … migration mostly benefits low- productivity firms within locations. As migrants select into high-productivity destinations …, migration however strongly contributes to the equalization of factor productivity across locations. …
Persistent link: https://www.econbiz.de/10011955657
We show that economies may exhibit a strong endogenous macroeconomic adaptation response to climate change. If climate change induces a structural change to the more productive sector, economies can benefit from climate change though productivities in both sectors are reduced. If climate change...
Persistent link: https://www.econbiz.de/10011454039
density. We show that endogenous technological progress causes structural change if there are positive productivity spillovers … from the modern to the traditional sector and Engel's law holds. In turn, urban congestion effects cause a productivity …
Persistent link: https://www.econbiz.de/10009375255
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
innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These …
Persistent link: https://www.econbiz.de/10011404419