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and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in …
Persistent link: https://www.econbiz.de/10012471762
This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...
Persistent link: https://www.econbiz.de/10013210052
features of the world at present are the low rates of investment and growth in some of the richest countries, whose surpluses … account for about half of the US deficit. The result is that financial capital is flowing out of countries with low investment …
Persistent link: https://www.econbiz.de/10012463124
growth. Investment growth has dominated GDP growth in China during this decade but is also important in the cases of India … and Vietnam. <br> <br>To examine the global implications of domestic growth patterns in Asia, I analyze saving-investment … region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving-investment …
Persistent link: https://www.econbiz.de/10012463480
We review evidence on the Great Moderation in conjunction with evidence about volatility trends at the micro level. We combine the two types of evidence to develop a tentative story for important components of the aggregate volatility decline and its consequences. The key ingredients are...
Persistent link: https://www.econbiz.de/10012464599
by introducing intangible investment and non-neutral technology change with respect to producing intangible investment …. We use the theory to compare current accounting measures for labor productivity and investment with the corresponding … measures for the model economy with intangible investment. Our findings show that standard accounting measures greatly …
Persistent link: https://www.econbiz.de/10012465147
We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …
Persistent link: https://www.econbiz.de/10012465562
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/10012465637
has significant effects on the cost of capital, investment, and economic growth …
Persistent link: https://www.econbiz.de/10012465962
benefited high-dollar debtors, as shown in these firms' investment behavior, especially non-tradables firms whose revenues in … dollar terms were adversely affected by devaluation. That investment behavior contrasts with the experience of Mexican firms … significant relative reductions in investment. Stock return reactions to Argentine debt redenomination indicate large, positive …
Persistent link: https://www.econbiz.de/10012466017