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documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate … that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …
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Industrial policies, such as infrastructure investments and export tariffs, affect the allocation of labor and incomes across sectors, attracting substantial lobbying efforts by special interest groups. Yet, the link between structural change and lobbying remains underexplored. Using more than...
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contributed to the rapid growth of GDP in Japan throughout the 20th century. …
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assumes climate change has equal impacts on the productivity of firms that produce consumption and investment goods or … services. We show the split between damage to consumption and investment productivity matters for the dynamic consequences of … climate damages. When investment is more vulnerable to climate, we find short-run consumption losses will be smaller than …
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We examine the (potentially nonlinear) relationship between inequality and growth using a method which does not require …
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endogenous growth approach - will be contrasted with the Schumpeterian and evolutionary views pointing to the role of … capabilities and knowledge, considered as key inputs to foster economic growth. Then, attention will be turned to structural change …
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can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher …
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