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This paper offers an overview of Alberto Alesina's life and of his scholarly work (§ 1 and 2). It will be argued, that Alberto would have entirely deserved the award of the Nobel Prize for Economic Science, except only for his premature passing away. His foundational contribution was the...
Persistent link: https://www.econbiz.de/10014390535
This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …
Persistent link: https://www.econbiz.de/10012227388
We develop a model which shows that wages, prices and real income should grow faster in countries with low increase in their labour force. If not, other countries experience growing unemployment and/or trade deficit. This result is applied to the case of Germany, which has displayed a...
Persistent link: https://www.econbiz.de/10012255659
Growth has been high and widespread in the last decade in Africa. Whether this shift in Africa's fortune has impacted … Africa and addresses whether or not previously held belief that Africa is too poor to grow is relevant today. The findings … employment, particularly to increase in employment in the industrial sector, than to increase in mean income. In Africa the co …
Persistent link: https://www.econbiz.de/10010463409
A model linking macroeconomic phenomena and income distribution in balanced growth equilibria is developed as a variant to the Kaldor model of factor shares. It departs from the original Kaldor model in assuming equal savings rates and production determined by a matching process between workers...
Persistent link: https://www.econbiz.de/10011403982
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012054782
This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader … institutional development. After reporting results from standard growth regressions, I analyze the role of Africa's peculiar history … influence, in and out of Africa, of the slave trades. The essay ends with critical conclusions and suggestions for further …
Persistent link: https://www.econbiz.de/10009310834
prominent in Africa today, but do or can Africans respond to them with the same elasticity as in the days of "free" migration …? Our new estimates of net migration and labor market performance for the countries of sub-Saharan Africa suggest that …. In Africa today, economic growth has faltered, its economies have fallen further behind the highwage OECD leaders, and …
Persistent link: https://www.econbiz.de/10011391489
With the year 2015 - the MDG finishing line - approaching, post-2015 goals as they impact Africa need to be firmed. The … promote shared prosperity in every society. We examine feasibility of these objectives for Sub-Saharan Africa, the world … rate, especially if in part achieved by lowering inequality, the Africa region would meaningfully contribute to the global …
Persistent link: https://www.econbiz.de/10010345542
Demographic and Health Surveys (DHS) for Africa. Results suggest inequality between countries tends to be higher when the share of … inequality in Africa. Other factors correlated strongly with inequality reduction include human capital which tend to have large … and significant income or asset equalizing effect in Africa, particularly at higher level of education. Growth in …
Persistent link: https://www.econbiz.de/10012704919