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Fiscal Policy and Growth in the Context of European Integration
Masson, Paul R. - 2000
The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...
Persistent link: https://www.econbiz.de/10014400046
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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
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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
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Institutions, innovations, and Growth
Xu, Chenggang - 1999
&D), which are endogenized through financial institutions. The theory and its results shed lights on the debate of convergence …
Persistent link: https://www.econbiz.de/10014403467
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Technological Adaptation, Trade, and Growth
Chong, Alberto - 2000
This paper extends Grossman and Helpman’s seminal work (1991), and presents an endogenous growth model where innovations created in a high-tech sector may be assimilated or adapted by a low-tech sector. Applying a simple Heckscher-Ohlin framework, the effects of technological diffusion are...
Persistent link: https://www.econbiz.de/10014403519
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International R and D Spillovers and Institutions
Hoffmaister, Alexander W. - 2008
The empirical analysis in ""International R&D Spillovers"" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10014400689
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Can good governance lower financial intermediation costs?
Jarmuzek, Mariusz; Lybek, Tonny - 2018
This paper argues that better governance practices can reduce the costs, risks and uncertainty of financial intermediation. Our sample covers high-, middle- and low-income countries before and after the global financial crisis (GFC). We find that net interest margins of banks are lower if...
Persistent link: https://www.econbiz.de/10011978660
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Endogenous growth, downward wage rigidities and optimal inflation
Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2021
Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses from business cycle fluctuations and long-term monetary neutrality. We develop a NK framework with labour market frictions, endogenous productivity and downward wage rigidity...
Persistent link: https://www.econbiz.de/10012605466
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Market regulation, cycles and growth in a monetary union
Abbritti, Mirko; Weber, Sebastian - 2019
We build a two-country currency union DSGE model with endogenous growth to assess the role of cross-country differences in product and labor market regulations for long-term growth and for the adjustment to shocks. We show that with endogenous growth, there is no reason to expect real income...
Persistent link: https://www.econbiz.de/10012022074
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Growth Gains From Trade and Education
Kim, Yong-jin - 1999
This paper presents a multisector growth model where education enhances general human capital, which is essential for increasing or maintaining the mobility of workers across industries. The paper shows that education, combined with international trade, can affect growth positively in the long...
Persistent link: https://www.econbiz.de/10014400198