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Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - 2023

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

A generalized steady-state growth theorem

Irmen, Andreas - 2013 - This Version: November 8, 2013

Uzawaś steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The...

Persistent link: https://www.econbiz.de/10010210700

Does public education expansion lead to trickle-down growth?

Böhm, Sebastian; Grossmann, Volker; Steger, Thomas M. - 2014

The paper revisits the debate on trickle-down growth in view of the widely discussed evolution of the earnings and income distribution that followed a massive public expansion of higher education. We propose a dynamic general equilibrium model to dynamically evaluate whether economic growth...

Persistent link: https://www.econbiz.de/10010417999

Can general purpose technology theory explain economic growth? : electrical power as a case study

Ristuccia, Cristiano Andrea; Solomou, Solomos - 2014

Does the concept of General Purpose Technologies help explain periods of faster and slower productivity advance in …, Britain, France, Germany and Japan and proceeds to evaluate the hypothesis of a productivity bonus as postulated by many … there was no generalized productivity boost from electrical power diffusion as postulated by many existing GPT models. The …

Persistent link: https://www.econbiz.de/10010252126

Economic growth and climate change : many trajectories, many destinations

Steger, Thomas M.; Trimborn, Timo - 2024

To gain insights into the mechanisms that shape the interaction between economic growth and climate change, we analyze the simplified DICE through the lens of growth theory. We analytically show that this model exhibits a continuum of saddle-point stable steady states, a property that carries...

Persistent link: https://www.econbiz.de/10014514947

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

knowledge sector is bounded, as productivity increases, the economy moves from a Solovian zone where wages increase with … productivity, to a Marxian zone where they paradoxically decline with productivity. This is because as consumption of a given good … more unevenly distributed than productivity, technical progress always increases inequality. Redistribution from profits to …

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

Is the electricity sector a weak link in development?

Colmer, Jonathan; Lagakos, David; Shu, Martin - 2023

This paper asks whether increasing productivity in the electricity sector can yield larger long-run GDP gains than …

Persistent link: https://www.econbiz.de/10014450774

Using the salop circle to study scale effects in Schumpeterian growth models : why inter-sectoral knowledge diffusion matters

Gray, Elie; Grimaud, André - 2016

each sector's R&D activity are, the higher the marginal productivity of labor in R&D is, and eventually the higher the …

Persistent link: https://www.econbiz.de/10011515411

Endogenous working hours, overlapping generations, and balanced neoclassical growth

Irmen, Andreas - 2024 - This Version: November 14, 2024

A balanced growth path that accounts for a decline in hours worked per worker approximates the evolution of today’s industrialized countries since 1870. This stylized fact is explained in an OLG-model featuring two-period lived individuals equipped with per-period utility functions of the...

Persistent link: https://www.econbiz.de/10015125465

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

Irmen, Andreas; Tabakovic, Amer - 2015

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