Showing 1 - 10 of 40
This paper revisits the relationship between international trade and economic growth. We measure trade openness indices … output and global input output tables to construct the measures of trade openness, our empirical analysis covering 21 … countries, 30 industries and 15 years reveals that trade openness in terms of intermediate and capital goods lead to economic …
Persistent link: https://www.econbiz.de/10012120367
We argue that, for a given level of scientific knowledge, tolerance and diversity are conducive to technological creativity and innovation. In particular, we show that variations in innovation within Prussia during the second industrial revolution can be ascribed to differences in religious...
Persistent link: https://www.econbiz.de/10011774957
This paper deals with a classic development question: how can the process of economic development - transition from stagnation in a traditional technology to industrialization and prosperity with a modern technology - be accelerated? Lewis (1954) and Rostow (1956) argue that the pace of...
Persistent link: https://www.econbiz.de/10010189831
What determines the structure of labour market institutions? This paper argues that common explanations based on rent sharing are incomplete; unions, job protection, and egalitarian pay structures may have as much to do with social insurance of otherwise uninsurable risks as with rent sharing and...
Persistent link: https://www.econbiz.de/10009786721
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10012270412
This paper explores the dynamic effects of trade liberalization on tax revenue using a worldwide panel dataset. Results point to statistically significant negative effect of liberalization on (non- resource) tax revenues in the short term and no significant effect in the medium term....
Persistent link: https://www.econbiz.de/10012603019
We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a broad panel of 35 countries and controlling for possibly non-linear exchange rate effects. We find that the output gap generally has a significant positive effect on inflation,...
Persistent link: https://www.econbiz.de/10012653311
This paper looks at how the reputation of a monetary policy making committee is jointly determined with the reputations … of its individual members. I ask whether individuals ha ve more or less incentive to gain a reputation for being tough on …
Persistent link: https://www.econbiz.de/10009781721
I show how changes in competition affect the power of reputation to induce sellers to exert effort. The impact of …. To guide the empirical analysis, I develop a model of reputation where the relative number of hosts and guests affects … the value of building a reputation through effort. In this framework, more competition depresses hosts' profits and leads …
Persistent link: https://www.econbiz.de/10012138911
Recent evidence highlights the importance of social norms in many economic relations. However, many of these relationships are long-term and provide repeated game incentives for performance. We experimentally investigate interaction effects of reciprocity and repeated game incentives in two...
Persistent link: https://www.econbiz.de/10011398911