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Artificial intelligence, income distribution and economic growth

Gries, Thomas; Naudé, Wim - 2020

The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected, so...

Persistent link: https://www.econbiz.de/10012266990

Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises

Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...

Persistent link: https://www.econbiz.de/10010229932

Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020

This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...

Persistent link: https://www.econbiz.de/10012226632

Volatility and growth : governments are key

Jetter, Michael - 2013

paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …

Persistent link: https://www.econbiz.de/10010228789

From riches to rags, and back? : institutional change, financial development and economic growth in Argentina since the 1890s

Campos, Nauro; Karanasos, Menelaos; Tan, Bin - 2014

individual effects on economic growth and volatility using the power-ARCH framework with annual data since the 1890s. The results …

Persistent link: https://www.econbiz.de/10010440609

Preferences, financial literacy, and economic development

Davoli, Maddalena; Rodríguez-Planas, Núria - 2021

Using data from 74 countries, we uncover important differences in the association between financial literacy and preferences by the level of economic development. We find that patience is only salient in wealthier countries, i.e. countries with their GDP per capita above the sample median. In...

Persistent link: https://www.econbiz.de/10012648266

Euroskepticism in the crisis : more mood than economy

Ritzen, Jozef M. M.; Zimmermann, Klaus F.; Wehner, Caroline - 2014

Before the Great Recession, rising income inequality within the European Union member states has been considered to be one driver for an increasing Euroskepticism. Using rich data on attitudes towards European integration from the Eurobarometer (EB) surveys, we revisit the issue by analyzing the...

Persistent link: https://www.econbiz.de/10010252653

Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market

Dickinson, David L.; Chaudhuri, Ananish; … - 2017

Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...

Persistent link: https://www.econbiz.de/10011731909

Long-term effects of equal sharing: evidence from inheritance rules for land

Bartels, Charlotte; Jäger, Simon; Obergruber, Natalie - 2020

What are the long-term economic effects of a more equal distribution of wealth? We exploit variation in historical inheritance rules for land in Germany. In some German areas, inherited land was to be shared or divided equally among children, while in others land was ruled to be indivisible....

Persistent link: https://www.econbiz.de/10012288516

Is productive entrepreneurship getting scarcer? : a reflection on the contemporary relevance of Baumol's typology

Minniti, Maria; Naudé, Wim; Stam, Erik - 2023

We review Baumol's typology of productive, unproductive and destructive entrepreneurship. We argue that the typology is relevant for explaining the secular decline in business dynamics. To the existing explanations for this decline, we put forward the thesis that entrepreneurship has become less...

Persistent link: https://www.econbiz.de/10014335837

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