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In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10011401108
-capital-based endogenous-growth model, where a representative parent makes all life-cycle consumption and investment decisions, and life and …
Persistent link: https://www.econbiz.de/10010239269
R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth …
Persistent link: https://www.econbiz.de/10003666469
well. By implication, policies that stimulate investment and R&D and policies that affect the size of the labor force may …
Persistent link: https://www.econbiz.de/10011412072
Persistent link: https://www.econbiz.de/10002035720
per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the … oil revenues, GDP and investment can be confirmed for all countries. While the cointegration vector is found to be unique … for Iran, long run equations for GDP and investment per capita are distinguished for the Gulf countries. Both variables …
Persistent link: https://www.econbiz.de/10010339608
It is commonly argued that labor market institutions such as employment protection worsen an economy's performance and particularly so, if product markets become more competitive. Empirical evidence, however, has difficulties to detect a robust negative correlation between employment protection...
Persistent link: https://www.econbiz.de/10011412718
If redistribution is distortionary, and if the income of skilled workers is due to knowledgeintensive activities and depends positively on intellectual property, a social planner which cares about income distribution may in principle want to use a reduction in Intellectual Property Rights (IPRs)...
Persistent link: https://www.econbiz.de/10011415064
Many countries in the developed world are ageing in terms of their distribution of population. Conversely, a number of countries in the south have younger population. India for example, has 60% of its population in the age group of 15-59, with the mean age close to 27 years as of present times....
Persistent link: https://www.econbiz.de/10011452232
both trade and foreign direct investment and thereby get a better understanding of complex international investment, trade … and FDI dynamics - including with respect to the envisaged Transatlantic Trade and Investment Partnership. …
Persistent link: https://www.econbiz.de/10010510592