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Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2021

How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...

Persistent link: https://www.econbiz.de/10012428917

The neoclassical growth of China

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

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

Automation, economic growth, and the labor share - a comment on Prettner (2019)

Heer, Burkhard; Irmen, Andreas - 2019 - This Version: June 24, 2019

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...

Persistent link: https://www.econbiz.de/10012031062

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

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

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 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

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

Entrepreneurial innovation and sustained long-run growth without weak or strong scale effects

Grossmann, Volker (contributor) - 2008

Persistent link: https://www.econbiz.de/10003662975

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