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Fischer, Stanley - 2021

The 1980s were both the lost decade of growth for much of Latin America and Africa, and the period in which -- through the new growth theory -- macroeconomists returned to the study of growth and development. The new growth theory is production function driven and concerned primarily with steady...

Persistent link: https://www.econbiz.de/10013247273

On the Unstable Relationship between Exchange Rates and Macroeconomic Fundamentals

Bacchetta, Philippe - 2010

It is well known from anecdotal, survey and econometric evidence that the relationship between the exchange rate and macro fundamentals is highly unstable. This could be explained when structural parameters are known and very volatile, neither of which seems plausible. Instead we argue that...

Persistent link: https://www.econbiz.de/10013152622

Monetary Growth, Inflation, and Economic Activity in a Dynamic Macro Model

Turnovsky, Stephen J. - 2007

This paper analyzes the effects of an increase in the monetary growth rate within a dynamic optimizing macroeconomic model. Both the short-run and long-run effects, and therefore the adjustments along the transitional path, depend critically upon the tax structure and the firm's corresponding...

Persistent link: https://www.econbiz.de/10012777378

Macroeconomics, Aging and Growth

Lee, Ronald D. - 2016

intensity, higher wages, and lower returns on capital, a tendency partially offset when the elderly are supported by public or …, strength of public pension and health care systems, and health and vitality of the elderly all condition the impact of … retirement age; reducing benefits and/or raising taxes for public transfer programs for the elderly, with concern for dead …

Persistent link: https://www.econbiz.de/10012989725

The Political Economy of Ethnolinguistic Cleavages

Desmet, Klaus - 2009

with a range of political economy outcomes -- civil conflict, redistribution, economic growth and the provision of public … of linguistic diversity on growth and public goods provision, where finer distinctions between languages matter …

Persistent link: https://www.econbiz.de/10013156246

On Current Account Surpluses and the Correction of Global Imbalances

Edwards, Sebastian - 2007

In this paper I analyze the nature of external adjustments in current account surplus countries. I ask whether a realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve the current situation of global imbalances. The main...

Persistent link: https://www.econbiz.de/10012777651

Policy Distortions and Aggregate Productivity with Endogenous Establishment-Level Productivity

da Rocha, José M. - 2017

What accounts for differences in output per capita and total factor productivity (TFP) across countries? Empirical evidence points to resource misallocation across heterogeneous production units as an important factor. We study misallocation in a general equilibrium model of establishment...

Persistent link: https://www.econbiz.de/10012957990

Institutions vs. Policies : A Tale of Two Islands

Henry, Peter Blair - 2010

Recent work emphasizes the primacy of differences in countries' colonially-bequeathed property rights and legal systems for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter example to this long-run view of income determination. Both...

Persistent link: https://www.econbiz.de/10012758058

Policy Distortions and Aggregate Productivity with Heterogeneous Plants

Restuccia, Diego - 2010

We formulate a version of the growth model in which production is carried out by heterogeneous plants and calibrate it to US data. In the context of this model we argue that differences in the allocation of resources across heterogeneous plants may be an important factor in accounting for...

Persistent link: https://www.econbiz.de/10012760197

Macroeconomics Challenges and Resilience of Emerging Market Economies

Aizenman, Joshua - 2019

A Growing share of Emerging Markets (EMs) use hybrid versions of inflation targeting (IT) that differ from the IT regimes of OECD countries. Policy interest rates among commodity countries are impacted by real exchange rate and international reserves (IR) changes, aiming at stabilizing their...

Persistent link: https://www.econbiz.de/10012861220