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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
We investigate the effects of input variety creation and destruction on both micro- and macroeconomic outcomes using detailed data from Belgium. We estimate that marginal costs rise by 0.6% for every 1% of suppliers lost. We show that this elasticity measures the area under the input demand...
Persistent link: https://www.econbiz.de/10014287332
region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving-investment … 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 …
Persistent link: https://www.econbiz.de/10012463480
scarcity of saving in LATAM, thereby increasing investment and growth. Yet, the data and several case studies suggest that the … savings and investments were taxed in an arbitrary and unpredictable way, the credibility of a new regime could not be assumed … saving and investment rates tends to be a time consuming process. This also suggests that greater political instability and …
Persistent link: https://www.econbiz.de/10012467540
savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and …
Persistent link: https://www.econbiz.de/10012460970
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
Compared to a half-century ago, inequality in the United states has risen and measured productivity growth has fallen. Concerns about rising inequality have been exacerbated by the observation that prices of goods consumed by the poor have risen faster than prices of goods consumed by the rich....
Persistent link: https://www.econbiz.de/10014248014
accumulated investment and the market value of land owned by corporations (that is, the Tobin's average 'q' is much smaller than … unity). This discrepancy appears to result from the very low rate of return earned on corporate investment and also from the … estimate of the capital stock and its depreciation to those offered in the National Accounts. The basic difference is that the …
Persistent link: https://www.econbiz.de/10012469257
. Often this problem is ignored in the theory of investment, not only because depreciation is exogenous, but also due to the … interdependence with investment decisions. The approach is based on the view that the flow of undepreciated capital is an output to be …
Persistent link: https://www.econbiz.de/10012476496
. In contrast, the elasticity of investment supply can be inferred from quantity data alone. The bonus depreciation …Investment decisions are inherently forward-looking. The payoff of acquiring capital goods, particularly long …-lived capital goods, is governed almost exclusively by events in the far future. Because the timing of the investment itself does …
Persistent link: https://www.econbiz.de/10012466153