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Innovate to lead or innovate to prevail : when do monopolistic rents induce growth?

Piazza, Roberto; Zheng, Yu - 2019

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to …

Persistent link: https://www.econbiz.de/10012155163

Fair and inclusive markets : why dynamism matters

Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021

inequality are characterized by dynamism-a drive toward sophisticated export industries, innovation, and creative destruction and …

Persistent link: https://www.econbiz.de/10012517949

Tracing productivity growth channels in the UK

Garcia-Macia, Daniel; Korosteleva, Julia - 2021

traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation …, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by … recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms' products) is expected to gain …

Persistent link: https://www.econbiz.de/10012795165

Institutions, innovations, and Growth

Xu, Chenggang - 1999

The fundamental importance of economic institutions for economic growth through their impact on technological change has been argued, reconfirmed by recent empirical studies, but not examined theoretically. This paper tries to fill that gap. In the model proposed, economic growth is affected by...

Persistent link: https://www.econbiz.de/10014403467

Nominal Exchange Rates and Nominal Interest Rate Differentials

Nadal-De Simone, Francisco - 1999

This paper reexamines some unsettled theoretical and empirical issues regarding the relationship between nominal exchange rates and interest rate differentials and provides a model for the behavior of exchange rates in the long run, where interest rates are determined in the bond market. The...

Persistent link: https://www.econbiz.de/10014400414

Deer Hunting : Misalignment, Debt Accumulation, and Desired Equilibrium Exchange Rates

Taylor, Mark P. - 1993

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER...

Persistent link: https://www.econbiz.de/10014396472

The Monetary Approach to the Exchange Rate : Rational Expectations, Long-Run Equilibrium and Forecasting

MacDonald, Ronald - 1992

We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking...

Persistent link: https://www.econbiz.de/10014395316

Consumption Smoothing and Exchange Rate Volatility

Turtelboom, Bart - 1995

This paper analyzes exchange rate behavior in a model where consumers trade goods to diversify shocks to their income. A model with traded and nontraded goods is simulated in a multilateral context based upon historical output correlations for the period 1970–92. Simulation results indicate...

Persistent link: https://www.econbiz.de/10014397963

Real and Nominal Exchange Rates in the Long Run

Adams, Charles - 1991

This paper decomposes longer-run movements in (major) dollar real exchange rates into components associated with changes in nominal exchange rates and price levels, and their comovements. Though the decompositions suggest some permanent movements, they imply that there are large transitory...

Persistent link: https://www.econbiz.de/10014398349

Competition, innovation, and inclusive growth

Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021

reality by considering the spillover and dynamic effects of market power, especially on firm entry, innovation, and inequality …We provide an overview of the theories and empricial evidence on the complex relationship among innovation, competition …, and inclusive growth. Competition and innovation-led growth are critical to drive productivity gains and support broad …

Persistent link: https://www.econbiz.de/10012518975

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