This paper provides empirical evidence that the size of the spillovers from U.S. monetary policy to non-oil GDP growth … effectiveness of monetary policy are discussed. We find that the level of oil prices tends to dampen or amplify the growth impact of …

-state with lower equilibrium growth driven by population aging and slower productivity growth, lower credit demand is likely to …

factor in determining a country’s level of corruption. In a simple growth model, we illustrate the interrelationships between … natural resources, corruption, and economic growth, and discuss potential anti-corruption policies. We show that the extent of …, the growth effects of natural resource discoveries and anticorruption policies crucially depend on the economy’s state of …

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a … significant structural break in the function that relates economic growth to inflation. The break is estimated to occur when the … inflation rate is 8 percent. Below that rate, inflation does not have any effect on growth, or it may even have a slightly …

Several recent empirical studies have examined determinants of economic growth using country average (cross … industrial and developing countries over 1960-85 to determine the quantitative importance for economic growth of both country … results provide support for the view that these factors exert a positive and significant influence on economic growth. They …

This paper proposes a model of endogenous economic growth and distribution explicitly incorporating social extraction … developments in the distribution of national income and wealth and in the growth rate of per capita capacity output. When …

This paper examines the effects of demographic dynamics on the measured rates of economic growth. First, it develops a … order to reflect the changing age-structure of the population. Fourth, it decomposes the historical measured growth rates … into effects of demographic dynamics and into “real” growth rates, net of demographic effects …

The standard growth accounting framework, which weights various inputs by their factor shares to measure their … contributions to output growth, is known to underestimate the contribution of inputs in the presence of externalities and increasing …, growth can occur through either embodied technological progress or firms replication of existing technology. The standard …

of endogenous growth for a small open economy that is driven by increases in labor productivity from learning and that …

This paper uses the standard one-sector neoclassical growth model to investigate why China''s consumption has been low … China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms …