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The Degrowth Movement calls for "degrowth" - a reduction in GDP in advanced economies - to avert an ecological crisis. This paper argues that the Degrowth Movement misses that the West is already in a state resembling degrowth - a Great Stagnation. This state of degrowth and its correlates,...
Persistent link: https://www.econbiz.de/10014286501
The economic expansion witnessed in the last 0,08% of modern human history is an anomalous event. It has been compared to a "rocket ship that took off five seconds ago, and nobody knows where it's going." This paper explores the destiny of this rocket ship. It shows that economic growth cannot...
Persistent link: https://www.econbiz.de/10014279848
Commodity price increases associated with the entry of China, India and other countries into the world economy has led …
Persistent link: https://www.econbiz.de/10003961657
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10009308020
income trap" as China exhausts the benefits of international technology transfer. IKC is productivity-enhancing among Chinese … China's IKC generates patents in China, but fewer than in major industrialized economies. Among domestically owned …
Persistent link: https://www.econbiz.de/10010224593
China has achieved tremendous economic progress in the last three decades, but there is much work to be done to make … in striking the right balance in terms of speed and coordination of reforms. We argue that China's current stage of …
Persistent link: https://www.econbiz.de/10003464109
incomes from 1986 to 1999. Using a detailed household-level data set from rural China, we find robust evidence that initial …
Persistent link: https://www.econbiz.de/10003474137
China has achieved impressive growth over the last three decades. However, there has been debate over the sources of … quantifying their contributions to growth. In this paper, we develop a three-sector dynamic model to quantify the sources of China … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …
Persistent link: https://www.econbiz.de/10003940472
We document dramatic rising wages in China for the period 1978-2007 based on multiple sources of aggregate statistics …-intensive and labor-intensive industries have widened. Comparisons of international data show that China's manufacturing wage has … already converged to that of Asian emerging markets, but China still enjoys enormous labor cost advantages over its …
Persistent link: https://www.econbiz.de/10003976837
While China shared many systemic, initial conditions with the transition economies of Central-East Europe (CEE) and the … CEE and CIS countries. Unlike most of the CEE and CIS economies, China adopted a strategy of gradual economic … transformation that maintained the existing system and created new economic activities on top of it. This enabled China to avoid the …
Persistent link: https://www.econbiz.de/10003594444