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This paper uses panel data for 19 OECD countries and finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The empirical work relies upon some direct measures of product variety calculated from...
Persistent link: https://www.econbiz.de/10014399925
This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...
Persistent link: https://www.econbiz.de/10014400163
leads to an increase in average income, economic theory is ambiguous about the possible effects on the long-run growth rate …
Persistent link: https://www.econbiz.de/10014404012
This paper analyzes the sources of Mexico''s economic growth since the 1960s and compares various decompositions of historical growth into its trend and cyclical components. The role of the implied output gaps in the inflationary process is then assessed. Looking ahead, the paper presents...
Persistent link: https://www.econbiz.de/10014400927
Relative GDP shares are frequently used as weights in aggregations. In order to ensure that these weights reflect countries’ shares in real output, GDP data in national currencies should be converted into a common numeraire currency at purchasing power parity (PPP) rates. A review of the...
Persistent link: https://www.econbiz.de/10014398543
developing countries. This paper develops a theory of family business that brings market forces and the family, as a nonmarket …Family businesses make up forty percent of the Fortune 500 companies in the US, generate about two-thirds of the German …, and succession, which allow family businesses to thrive and to successfully compete with other businesses …
Persistent link: https://www.econbiz.de/10014399982
liquidity constraints, the temporal change in family income (exclusive of wives'' earnings) reinforces the substitution effect …
Persistent link: https://www.econbiz.de/10014401440
statistically significant output effect under floating exchange rate regimes. For the estimation of the output effects of fiscal …
Persistent link: https://www.econbiz.de/10012252736
Output gap estimates are widely used to inform macroeconomic policy decisions, including in Korea. The main determinant of these estimates is the measure of labor market slack. The traditional measure of unemployment in Korea yields an incomplete estimate of labor market slack, given that many...
Persistent link: https://www.econbiz.de/10012102193
the model's output gap as a benchmark, we further show that common output gap estimation methods exhibit a systematic bias …
Persistent link: https://www.econbiz.de/10012103632