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This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration exercise for G-7 countries shows that France, Germany and Italy suffer greater revenue impact...
Persistent link: https://www.econbiz.de/10009618513
This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model calibrated to the U.S. shows that market...
Persistent link: https://www.econbiz.de/10012677860
Since the global financial crisis, corporate investment has been weak in India. Sluggish corporate investment would not …, this paper analyzes the reasons for the slowdown and discusses how India can boost corporate investment, using both macro … investment but that they do not appear to account fully for recent weak performance, suggesting a key role of the bu …
Persistent link: https://www.econbiz.de/10009572430
This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...
Persistent link: https://www.econbiz.de/10009618511
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store … investment, or a ""volatility trap."" Namely, big savers invest relatively little. In contrast, low volatility of permanent … shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks …
Persistent link: https://www.econbiz.de/10009615558
Now close to 50 percent of GDP, this paper assesses the appropriateness of China's current investment levels. It finds …, partly due to a surge in investment over the last decade. Moreover, its investment is significantly higher than suggested by …
Persistent link: https://www.econbiz.de/10009678976
Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector … estate investment in China though a low-probability event would be sizable, with large spillovers to a number of China … and the rest of the G20 economies, we find that a 1-percent decline in China's real estate investment would shave about 0 …
Persistent link: https://www.econbiz.de/10009679024
Intro -- Contents -- I. INTRODUCTION -- II. DATA -- III. ECONOMETRIC PRELIMINARIES -- IV. "INTERNATIONAL R&D SPILLOVERS" REVISITED -- V. INSTITUTIONS AND INTERNATIONAL R&D SPILLOVERS -- VI. CONCLUSIONS -- APPENDIX A: ALTERNATIVE SPECIFICATION -- APPENDIX B: DATA SOURCES AND DEFINITIONS --...
Persistent link: https://www.econbiz.de/10012682177
Intro -- Contents -- I. INTRODUCTION -- II. TRENDS IN REGIONAL INVESTMENT6 -- III. LITERATURE REVIEW -- IV. A BASIC … INVESTMENT MODEL -- V. DATA -- VI. ESTIMATION ISSUES -- VII. ESTIMATION RESULTS -- VIII. CONCLUSIONS -- References -- Data …
Persistent link: https://www.econbiz.de/10012691011
Intro -- Contents -- I. INTRODUCTION -- II. THE PARADOX: LOW GROWTH AND HIGH INVESTMENT -- III. THE MISMEASUREMENT …
Persistent link: https://www.econbiz.de/10012691081