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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi - 2012
-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …
Persistent link: https://www.econbiz.de/10013107701
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The Rise of the East and the Far East : German Labor Markets and Trade Integration
Dauth, Wolfgang - 2012
We analyze the effects of the unprecedented rise in trade between Germany and "the East" – China and Eastern Europe – in the period 1988-2008 on German local labor markets. Using detailed administrative data, we exploit the cross-regional variation in initial industry structures and use...
Persistent link: https://www.econbiz.de/10013104067
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Export-Led Growth after Covid-19 : The Case of Portugal
Naudé, Wim; Cameron, Martin - 2021
The COVID-19 pandemic has disrupted trade and global value chains. Small open economies such as Portugal are particularly vulnerable. In this paper we consider the impact of the pandemic on the country's exports, arguing that an export-led recovery is possible. The challenge is to identify...
Persistent link: https://www.econbiz.de/10013314943
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Splitting Tournaments
Leuven, Edwin - 2010
In this paper we investigate how heterogeneous agents choose among tournaments with different prizes. We show that if the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over the tournaments, these may include, for example, a...
Persistent link: https://www.econbiz.de/10013137797
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Inefficient Equilibrium Unemployment in a Duocentric Economy with Matching Frictions
Lehmann, Etienne - 2013
This article examines unemployment disparities and efficiency in a densely populated economy with two job centers and workers distributed between them. We introduce commuting costs and search-matching frictions to deal with the spatial mismatch between workers and firms. In equilibrium, there...
Persistent link: https://www.econbiz.de/10013071292
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Sweatshop Equilibrium
Chau, Nancy H. - 2009
This paper presents a capability-augmented model of on the job search, in which sweatshop conditions stifle the capability of the working poor to search for a job while on the job. The augmented setting unveils a sweatshop equilibrium in an otherwise archetypal Burdett-Mortensen economy, and...
Persistent link: https://www.econbiz.de/10013157023
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Unordered Monotonicity
Heckman, James J. - 2017
This paper presents a new monotonicity condition for unordered discrete choice models with multiple treatments. Unlike a less general version of monotonicity in binary and ordered choice models, monotonicity in unordered discrete choice models along with other standard assumptions does not...
Persistent link: https://www.econbiz.de/10012954068
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Minimum Wages and Spatial Equilibrium : Theory and Evidence
Monras, Joan - 2015
Often, minimum wage laws are decided at the state or regional level, and even when not, federal level increases are only binding in certain states. This has been used in previous literature to evaluate the effects of minimum wages on earnings and employment levels. This paper introduces a...
Persistent link: https://www.econbiz.de/10013012806
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Equilibrium Health Spending and Population Aging in a Model of Endogenous Growth : Will the GDP Share of Health Spending Keep Rising?
Ehrlich, Isaac - 2014
The apparently unrelenting growth in the GDP-share of health spending (SHS) has been a perennial issue of policy concern. Does an equilibrium limit exist? The issue has been left open in recent dynamic models which take income growth and population aging as given. We view these variables as...
Persistent link: https://www.econbiz.de/10013058739
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Solow or Lucas? Testing Speed of Convergence on a Panel of OECD Countries
Arnold, Jens Matthias - 2010
We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and...
Persistent link: https://www.econbiz.de/10013136719