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Nonergodic Economic Growth
Durlauf, Steven N. - 2021
This paper explores the role of complementarities and coordination failure in economic growth. We analyze the evolution composed of a countable set of infinitely-lived heterogenous industries. Individual industries exhibit nonconvexities in production and are linked across time through localized...
Persistent link: https://www.econbiz.de/10013244748
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Growth, Urbanization and Poverty Reduction in India
Datt, Gaurav - 2016
Longstanding development issues are revisited in the light of our newly-constructed dataset of poverty measures for … India spanning 60 years, including 20 years since reforms began in earnest in 1991. We find a downward trend in poverty … measures since 1970, with an acceleration post-1991, despite rising inequality. Faster poverty decline came with both higher …
Persistent link: https://www.econbiz.de/10012998952
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Trade Growth, Production Fragmentation, and China's Environment
Dean, Judith M. - 2008
Trade growth for a relatively poor country is thought to shift the composition of industrial output towards dirtier products, aggravating environmental damage. China's rapidly growing trade and serious environmental degradation appear to be no exception. However, much of China's trade growth is...
Persistent link: https://www.econbiz.de/10012772376
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Optimal Taxation with Rent-Seeking
Rothschild, Casey - 2011
Recent policy proposals have suggested taxing top incomes at very high rates on the grounds that some or all of the highest wage earners are engaged in socially unproductive or counterproductive activities, such as externality imposing speculation in the financial sector. To address this, we...
Persistent link: https://www.econbiz.de/10013125562
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The Wealth of Nations : Fundamental Forces Versus Poverty Traps
Bloom, David E.; Canning, David; Sevilla, Jaypee - 2021
characteristics, i.e. fundamental forces, against the alternative that there are poverty traps. Taking geographical variables as … fundamental characteristics, we find that we can reject fundamental forces in favor of a poverty trap model with high and low …
Persistent link: https://www.econbiz.de/10013240306
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Was Stalin Necessary for Russia's Economic Development?
Cheremukhin, Anton - 2013
This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a...
Persistent link: https://www.econbiz.de/10013076184
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Productivity and U.S. Macroeconomic Performance : Interpreting the Past and Predicting the Future with a Two-Sector Real Business Cycle Model
Ireland, Peter N. - 2010
A two-sector real business cycle model, estimated with postwar U.S. data, identifies shocks to the levels and growth rates of total factor productivity in distinct consumption- and investment-goods-producing technologies. This model attributes most of the productivity slowdown of the 1970s to...
Persistent link: https://www.econbiz.de/10012759764
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The Economy of People's Republic of China from 1953
Cheremukhin, Anton - 2015
This paper studies growth and structural transformation of the Chinese economy from 1953 to 2012 through a lens of a two-sector growth model. The main goal of the paper is to provide a systematic analysis of both the pre-1978 reform and post-1978 reform periods in a unified framework. First, we...
Persistent link: https://www.econbiz.de/10013018719
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Growth Accounting with Misallocation : Or, Doing Less with More in Singapore
Fernald, John G. - 2010
We derive aggregate growth-accounting implications for a two-sector economy with heterogeneous capital subsidies and monopoly power. In this economy, measures of total factor productivity (TFP) growth in terms of quantities (the primal) and real factor prices (the dual) can diverge from each...
Persistent link: https://www.econbiz.de/10013142554
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Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets
Mendoza, Enrique G. - 2013
We study the short- and long-run effects of financial integration in emerging economies using a two-sector model with a collateral constraint on external debt and trading costs incurred by foreign investors. The probability of a financial crisis displays overshooting: It rises sharply initially...
Persistent link: https://www.econbiz.de/10013081498