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Does Inflation Harm Economic Growth? Evidence for the OECD
Andrés, Javier; Hernando, Ignacio - 2021
The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the … following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies …; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical …
Persistent link: https://www.econbiz.de/10013218315
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Cross-Country Evidence on the Link between Volatility and Growth
Ramey, Garey; Ramey, Valerie A. - 2021
This paper presents empirical evidence against the standard dichotomy in macroeconomics that separates growth from the volatility of economic fluctuations. In a sample of 92 countries as well as a sample of OECD countries, we find that countries with higher volatility have lower growth. The...
Persistent link: https://www.econbiz.de/10013218817
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Unit Roots, Postwar Slowdowns and Long-Run Growth : Evidence from Two Structural Breaks
Ben-David, Dan; Lumsdaine, Robin L.; Papell, David H. - 2021
This paper provides evidence on the unit root hypothesis and long-term growth by allowing for two structural breaks. We reject the unit root hypothesis for three-quarters of the countries approximately 50% more rejections than in models that allow for only one break. While about half of the...
Persistent link: https://www.econbiz.de/10013222058
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Climate Shocks and Exports
Jones, Benjamin F. - 2010
This paper uses international trade data to examine the effects of climate shocks on economic activity. We examine panel models relating the annual growth rate of a country's exports in a particular product category to the country's weather in that year. We find that a poor country being 1...
Persistent link: https://www.econbiz.de/10013148370
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Coping with Change : International Differences in the Returns to Skills
Hanushek, Eric A. - 2016
Expanded international data from the PIAAC survey of adult skills allow us to analyze potential sources of the cross-country variation of comparably estimated labor-market returns to skills in a more diverse set of 32 countries. Returns to skills are systematically larger in countries that have...
Persistent link: https://www.econbiz.de/10012982929
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Forecasting Output and Inflation : The Role of Asset Prices
Stock, James H.; Watson, Mark W. - 2022
This paper examines old and new evidence on the predictive performance of asset prices for inflation and real output … prices predict either inflation or output growth in some countries in some periods. Which series predicts what, when and …
Persistent link: https://www.econbiz.de/10013322105
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A Currency of One'S Own? An Empirical Investigation on Dollarization and Independent Currency Unions
Edwards, Sebastian; Magendzo, I. Igal - 2021
probability of being a common currency country and outcome' equations for growth, volatility and inflation. We find that both type … of common currency countries have lower inflation than countries with a domestic currency. Dollarized countries have …
Persistent link: https://www.econbiz.de/10013221081
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Implications of Population Aging for Economic Growth
Bloom, David E. - 2011
The share of the population aged 60 and over is projected to increase in nearly every country in the world during 2005-2050. Population ageing will tend to lower both labor-force participation and savings rates, thereby raising concerns about a future slowing of economic growth. Our calculations...
Persistent link: https://www.econbiz.de/10013131060
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Credit Constraints, Cyclical Fiscal Policy and Industry Growth
Aghion, Philippe - 2009
This paper evaluates whether the cyclical pattern of fiscal policy can affect growth. We first build a simple endogenous growth model where entrepreneurs can invest either in short-run projects or in long-term growth enhancing projects. Long-term projects involve a liquidity risk which credit...
Persistent link: https://www.econbiz.de/10013158505
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Who's Going Broke? Comparing Growth in Healthcare Costs in Ten OECD Countries
Kotlikoff, Laurence J. - 2006
Persistent link: https://www.econbiz.de/10012783346