Narrow search
Showing 1 - 10 of 8,108
Cover Image
Unmeasured Investment and the Puzzling U.S. Boom in the 1990s
McGrattan, Ellen R. - 2007
goods and find that the 1990s are not puzzling in light of this new theory. There is compelling micro and macro evidence for … our extension, and the predictions of the theory are in conformity with U.S. national products, incomes, and capital gains …. We use the theory to compare current accounting measures for labor productivity and investment with the corresponding …
Persistent link: https://www.econbiz.de/10012465147
Cover Image
Transitional Dynamics and Economic Growth in the Neoclassical Model
King, Robert G. - 1989
An understanding of the <i>qualitative</i> nature of the transitional dynamics of the neociassical model - the process of convergence from an initial capital stock to a steady state growth path - is a key part of the shared knowledge of most economists. It forms the basis, for example, of the...
Persistent link: https://www.econbiz.de/10012475856
Cover Image
The Neoclassical Growth of China
Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - National Bureau of Economic Research - 2023
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...
Persistent link: https://www.econbiz.de/10014322739
Cover Image
Solow and the States : Capital Accumulation, Productivity and Economic Growth
Holtz-Eakin, Douglas - 1992
National, state, and local policy makers have increasingly focused their attention on policies toward economic growth, especially efforts to raise the rate of investment. Recent studies of economic growth have raised a debate over the role played by the investment rate in the long-run...
Persistent link: https://www.econbiz.de/10012474826
Cover Image
A Contribution to the Empirics of Economic Growth
Mankiw, N. Gregory - 1990
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The...
Persistent link: https://www.econbiz.de/10012475495
Cover Image
Public Policy and Economic Growth : Developing Neoclassical Implications
King, Robert G. - 1990
Why do the countries of the world display considerable disparity in long term growth rates? This paper examines the hypothesis that the answer lies in differences in national public policies which affect the incentives that individuals have to accumulate capital in both its physical and human...
Persistent link: https://www.econbiz.de/10012475697
Cover Image
Costly Financial Intermediation in Neoclassical Growth Theory
Mehra, Rajnish - 2008
in this intermediation amounted to at least 3.4 percent of GNP. The theory implies that financial intermediation services …
Persistent link: https://www.econbiz.de/10012464296
Cover Image
Trevor Swan And The Neoclassical Growth Model
Dimand, Robert W. - 2008
Trevor Swan independently developed the neoclassical growth model. Swan (1956) was published ten months later than Solow (1956), but included a more complete analysis of technical progress, which Solow treated separately in Solow (1957). Reference is sometimes made to the "Solow-Swan growth...
Persistent link: https://www.econbiz.de/10012464699
Cover Image
Neoclassical Factors
Chen, Long - 2007
Building on neoclassical reasoning, we propose a new multi-factor model that consists of the market factor and factor mimicking portfolios based on investment and productivity. The neo- classical three-factor model outperforms traditional factor models in explaining the average returns across...
Persistent link: https://www.econbiz.de/10012465369
Cover Image
Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II
McGrattan, Ellen R. - 2006
fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of … data. Our main finding is that the theory quantitatively accounts for macroeconomic activity during this big fiscal shock …
Persistent link: https://www.econbiz.de/10012466525