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Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation
Klyuev, Vladimir - 2004
This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal...
Persistent link: https://www.econbiz.de/10014404038
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Capital gaps, risk dynamics, and the macroeconomy
Lipinsky, Fabian T.; Miescu, Mirela S. - 2020
Motivated by the increasing interest in analyzing the links between the financial sector and the real economy, we develop a macro-financial structural model with two novel features. First, we include idiosyncratic and aggregate risk in a tractable general equilibrium model. This allows us to...
Persistent link: https://www.econbiz.de/10012391995
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News shocks in open economies : evidence from giant oil discoveries
Arezki, Rabah; Ramey, Valerie A.; Sheng, Liugang - 2015
. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall …
Persistent link: https://www.econbiz.de/10011373999
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Rebalancing China's Economy : What Does Growth Theory Tell Us?
Aziz, Jahangir - 2006
and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … caused by nonperforming loans, borrowing constraints, and uncertainty over changes in government guidance in bank lending. If … China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms …
Persistent link: https://www.econbiz.de/10014400153
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Factor Reallocation and Growth in Developing Countries
Poirson, Hélène - 2000
especially important in countries with high rates of investment (and thus high rates of labor transfer) and/or at low levels of …
Persistent link: https://www.econbiz.de/10014399960
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Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices
Medina Guzman, Juan Pablo - 2007
This paper studies optimal monetary policy in a two-sector small open economy model under segmented asset markets and sticky prices. We solve the Ramsey problem under full commitment, and characterize the optimal monetary policy in a calibrated version of the model. The findings of the paper are...
Persistent link: https://www.econbiz.de/10014399992
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Labor Market Segmentation in a Two-Sector Model of An Open Economy
Demekas, Dimitri G. - 1990
The paper examines formally the effects of labor market segmentation in a two-sector open economy model. The model demonstrates how the structure of the labor market affects the real exchange rate, defined as the relative price of traded and home goods, and is then used to examine the effects of...
Persistent link: https://www.econbiz.de/10014396314
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Capital Flows and Economic Fluctuations : The Role of Commercials Banks in Transmitting Shocks
Zhou, Yong Sarah - 2008
additionally reducing the available bank credit to firms through a ""deposit run"". Empirical results from a VAR model broadly …
Persistent link: https://www.econbiz.de/10014401400
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Aggregate Uncertainty and the Supply of Credit
Valencia, Fabian - 2013
examines one particular channel at work: the supply of credit. It presents a model in which a bank, even if managed by risk …
Persistent link: https://www.econbiz.de/10014394461
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Crowding-out or crowding-in? : public and private investment in India
Bahal, Girish; Raissi, Mehdi; Tulin, Volodymyr - 2015
This paper contributes to the debate on the relationship between public-capital accumulation and private investment in … the past three decades, we study whether public investment in recent years has become more or less complementary to … private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate …
Persistent link: https://www.econbiz.de/10011445833