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Sequentiality versus simultaneity: Interrelated factor demand
Asphjell, Magne Krogstad; Letterie, Wilko; Nilsen, … - 2010
covers the period 1993-2005. The estimates indicate that it is advantageous to adjust the stock of labour and capital … simultaneously. The cost advantage of simultaneous changes is small for capital but is large for labour. The empirical results … suggest that when estimating separate factor demand models the bias of parameter estimates is most severe in case of labour …
Persistent link: https://www.econbiz.de/10010278762
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Sequentiality versus Simultaneity: Interrelated Factor Demand
Asphjell, Magne Krogstad; Letterie, Wilko; Nilsen, … - Institute for the Study of Labor (IZA) - 2010
covers the period 1993-2005. The estimates indicate that it is advantageous to adjust the stock of labour and capital … simultaneously. The cost advantage of simultaneous changes is small for capital but is large for labour. The empirical results … suggest that when estimating separate factor demand models the bias of parameter estimates is most severe in case of labour …
Persistent link: https://www.econbiz.de/10008765234
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How do trade and financial integration affect the relationship between growth and volatility?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2006
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization a term typically used to...
Persistent link: https://www.econbiz.de/10010268058
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Trade and Economic Growth: Theories and Evidence from the Southern African Development Community
Farahane, Matias Jaime; Heshmati, Almas - 2020
This paper empirically tests the hypothesis that trade can act as an engine of growth using panel data for the Southern African Development Community (SADC), a regional integration agreement (RIA) organization, the central objective of whose formation was the need to accelerate, foster, and...
Persistent link: https://www.econbiz.de/10012322478
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How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2006
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom – that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization – a term typically used...
Persistent link: https://www.econbiz.de/10005233764
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The Effect on Foreign Direct Investment of Membership in the European Union
Bruno, Randolph Luca; Campos, Nauro F.; Estrin, Saul - 2020
This paper explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. Using a structural gravity framework on annual bilateral FDI data for almost...
Persistent link: https://www.econbiz.de/10012322467
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Distribution and Growth in an Economy with Limited Needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10010262477
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Distribution and Growth in an Economy with Limited Needs
Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10005762377
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Measurement of globalization and its variations among countries, regions and over time
Bhandari, Amit K.; Heshmati, Almas - 2005
The process of globalization is an international economic order which has led to the progressive integration of the world economy through the pulling the barrier of trade and greater mobility of factors of production. In addition the technological innovation also provides impetus to the...
Persistent link: https://www.econbiz.de/10010267513
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Alternative composite Lisbon development strategy indices
Heshmati, Almas; Oh, Jong-Eun - 2005
This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment,...
Persistent link: https://www.econbiz.de/10010267606