Showing 1 - 10 of 465
This paper studies a quantitative general equilibriummodel of the housing market where a large number of overlapping generations of homeowners face both idiosyncratic and aggregate risks but have limited opportunities to insure against these risks due to incomplete financial markets and...
Persistent link: https://www.econbiz.de/10008634639
and technical assistance in the same period. We interpret this as supportive of the interpretation that technology …
Persistent link: https://www.econbiz.de/10008646459
extensive margins of technology adoption. At the aggregate level, our model is isomorphic to a neoclassical growth model. The … microeconomic underpinnings of growth come from technology adoption of firms, both at the extensive and the intensive margin. We use … variation in income per capita. …
Persistent link: https://www.econbiz.de/10008646464
We introduce a growth model of technology diffusion and endogenous Total Factor Productivity (TFP) levels both at the … to bridge the gap between the theoretical and empirical studies of technology adoption and economic growth. We bridge … broadly consistent with the observed dynamics of both economic growth as well as of many different measures of technology …
Persistent link: https://www.econbiz.de/10005778553
We develop and estimate a model where technology diffusion depends on the level of productivity embodied in capital and … where this is, in turn, determined by two key mechanisms: the rate at which the quality embodied in new technology vintages … two effects are related to technology adoption decisions taken at two different levels. The capital goods suppliers%u2019 …
Persistent link: https://www.econbiz.de/10005050365
This paper focuses on the bi-directional interaction between technology adoption and labor market conditions. We … evaluate whether the patterns conform to the predictions of a neoclassical model of endogenous technology adoption. Our … approach melds the literature on the effect of the relative supply of skilled labor on technology adoption to the often …
Persistent link: https://www.econbiz.de/10005829970
policies, such as mandating open-source technology, can make matters worse. …
Persistent link: https://www.econbiz.de/10011170273
Goldin and Katz's <i>The Race between Education and Technology</i> is a monumental achievement that supplies a unified …
Persistent link: https://www.econbiz.de/10009652861
The common approach to evaluating a model in the structural VAR literature is to compare the impulse responses from structural VARs run on the data to the theoretical impulse responses from the model. The Sims-Cogley-Nason approach instead compares the structural VARs run on the data to...
Persistent link: https://www.econbiz.de/10005774407
We compute the forecastable changes in output, consumption, and hours implied by a VAR that includes the growth rate of private value added, the share of output that is consumed, and the detrended level of private hours. We show that the size of the forecastable changes in output greatly exceeds...
Persistent link: https://www.econbiz.de/10005774838