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This paper develops empirical growth models suitable for dual economies, and studies the relationship between structural change and economic growth. Changes in the structure of employment will raise aggregate productivity when the marginal product of labour varies across sectors. The models in...
Persistent link: https://www.econbiz.de/10008859503
In economies with fixed exchange rates, the adjustment to government spending shocks is asymmetric. A fiscal expansion appreciates the real exchange rate but does not stimulate output. A fiscal contraction does not alter the exchange rate, but lowers output. We develop these insights in a...
Persistent link: https://www.econbiz.de/10012544252
What do citizens of the United States and Germany think about their schools and school policies? This paper offers the first broad comparison of public thinking on education in the two countries. We carried out opinion surveys of representative samples of the German and American adult...
Persistent link: https://www.econbiz.de/10011306290