We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii)the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …

Undervaluation of the currency is generally believed to affect growth through two main transmission channels: the … “capital accumulation channel” and the “total factor productivity (TFP) growth channel”. This paper carries out the first … empirical investigation on the TFP growth channel. More specifically, we provide answers to the three following questions: Does …

The Chinese economy does still not qualify as demand-driven economy. Its growth is based on investment. In fact …

would suggest a slowdown of the Chinese economy in the future. However, standard growth accounting allocates both technical … though if its growth is caused by capital accumulation (perspiration factors) or driven by Total Factor Productivity (TFP …) growth (inspiration factors). The difference between both stances is quite substantial since, if the perspiration theory is …

The media and policy makers often mention that China manipulates its real exchange rate (RER) in order to improve its … exports and boost growth. This view, however, is not supported by the most prominent economic models, which do not predict a … positive relationship between real undervaluation and economic growth. I propose a 3-sector model with labor market frictions …

growth and (2) from economic growth to services. As for China, only unidirectional causality from services sector to economic …This study examines the meaningful relationship between economic growth, and service sector contribution and domestic … investment in two major Asian economies, namely India and China. Autoregressive Distributed Lag (ARDL) bounds testing procedure …

China, a low income country about the same geographic size as the US and with over four times the population, has had … persistent rapid growth that averaged 9.6 percent per year since reform began in 1979. On a per capita basis, real GDP is eight … times larger than it was 26 years earlier! China’s population is expected to continue to slow, reaching near zero in 30 …

Agricultue in India is undergoing a structural change leading to a crisis situation. The rate of growth of agricultural … changes in the present economic policies related to agriculture. No other sector’s growth and development must be at the cost …