neoclassical growth model. Investment rates and total factor productivity start out low and rise over time. These model dynamics …

wealth Jamaica was the most unequal place in the pre-modern world. Furthermore, all of these characteristics applied to the …

for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter … 1960 to 2002, Barbados' GDP per capita grew roughly three times as fast as Jamaica's. Consequently, the income gap between … Barbados and Jamaica is now almost five times larger than at the time of independence. Since their property rights and legal …

oil price shocks. We study two Caribbean economies highly vulnerable to oil price shocks, an oil-importer (Jamaica) and an …

We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth …) firm growth independent of firm size, as stated in the so-called Gibrat's law, and (iii) R&D investment proportional to …

incomes in the east have now reached the western level, and investment per capita has been much higher than in the west …. However, every third deutschmark spent in the east has been coming from the west, investment in equipment has fallen below the … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

future oil price volatility derived from the NYMEX futures options market. Using a dynamic model of firms' investment problem …

To analyze business fixed investment in Japan, which has been unusually volatile in recent years, we develop and apply … a loglinear flexible accelerator model. We find that movements in business fixed investment are consistent with …