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Quantifying optimal growth policy
Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - 2010
The optimal mix of growth policies is derived within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and takes into account transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...
Persistent link: https://www.econbiz.de/10010269804
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Distribution of natural resources, entrepreneurship and economic development: growth dynamics with two elites
Falkinger, Josef; Grossmann, Volker - 2005
easing entrepreneurial investments for credit-constrained individuals whose investment possibilities depend on their income …
Persistent link: https://www.econbiz.de/10010267484
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Migration, international trade and capital formation: Cause or effect?
Felbermayr, Gabriel J.; Grossmann, Volker; Kohler, … - 2012
In this paper, we provide an overview of the relationship between international migration and international trade as well as capital movements. After taking a brief historical perspective, we first investigate migration flows between two countries in a static, neoclassical context. We allow for...
Persistent link: https://www.econbiz.de/10010289941
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Interest Rate Hysteresis in Macroeconomic Investment under Uncertainty
Belke, Ansgar H.; Göcke, Matthias - 2019
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this … paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis …
Persistent link: https://www.econbiz.de/10012141203
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment: Evidence for the Euro Area
Belke, Ansgar H.; Frenzel Baudisch, Coletta; Göcke, … - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012141204