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The Demise of U.S. Economic Growth : Restatement, Rebuttal, and Reflections

Gordon, Robert J. - 2014

over the past century, stagnates at a plateau as the U.S. sinks lower in the world league tables of high school and college …

Persistent link: https://www.econbiz.de/10012458768

From Growth to Green Growth - a Framework

Hallegatte, Stéphane - 2012

Green growth is about making growth resource-efficient, cleaner and more resilient without slowing it. This paper aims at clarifying this in an analytical framework and proposing foundations for green growth. This framework identifies channels through which green policies can potentially...

Persistent link: https://www.econbiz.de/10012460817

Is Deflation depressing? Evidence from the Classical Gold Standard

Bordo, Michael D. - 2003

United States and Canada, 1870-1913. Both countries adhered to the international gold standard. This meant that the domestic … response to supply' shocks. For Canada the results are murkier. As in the U.S., the money supply shocks before 1896 are … shocks play a larger role in determining output behavior in Canada. The key conclusion of our analysis is that the simple …

Persistent link: https://www.econbiz.de/10012469182

Mitigating Disaster Risks to Sustain Growth

Hong, Harrison - 2020

We provide the planner's solution to a model where households learn from exogenous natural disaster arrivals about arrival rates and spend to mitigate future damages. Mitigation cannot be decentralized due to positive externalities from curtailing aggregate risks. First-best can be implemented...

Persistent link: https://www.econbiz.de/10012482023

Tracing Sustainability in the Long Run : Genuine Savings Estimates 1850 - 2018

McLaughlin, Eoin; Ducoing, Cristián; Oxley, Les - National Bureau of Economic Research - 2023

World Bank and widely used in contemporary economic research. GS derives from the theoretical work on wealth accounting, and … countries to enhance, complement, and contextualise the work of the World Bank and others …

Persistent link: https://www.econbiz.de/10014250172

Financial Markets, the Real Economy, and Self-fulfilling Uncertainties

Benhabib, Jess - 2018

Uncertainty in both financial markets and the real economy rises sharply during recessions. We develop a model of informational interdependence between financial markets and the real economy, linking uncertainty to information production and aggregate economic activities. We argue that there...

Persistent link: https://www.econbiz.de/10012480637

The Optimal Inflation Target and the Natural Rate of Interest

Andrade, Philippe - 2018

We study how changes in the value of the steady-state real interest rate affect the optimal inflation target, both in the U.S. and the euro area, using an estimated New Keynesian DSGE model that incorporates the zero (or effective) lower bound on the nominal interest rate. We find that this...

Persistent link: https://www.econbiz.de/10012453386

Is the Macroeconomy Locally Unstable and Why Should We Care?

Beaudry, Paul - 2016

In most modern macroeconomic models, the steady state (or balanced growth path) of the system is a local attractor, in the sense that, in the absence of shocks, the economy would converge to the steady state. In this paper, we examine whether the time series behavior of macroeconomic aggregates...

Persistent link: https://www.econbiz.de/10012456400

Zero-Sum Thinking, the Evolution of Effort-Suppressing Beliefs, and Economic Development

Carvalho, Jean-Paul; Bergeron, Augustin; Henrich, Joseph; … - National Bureau of Economic Research - 2023

-being. We test the model's predictions using data from two samples in the Democratic Republic of Congo and from the World Values …

Persistent link: https://www.econbiz.de/10014372420

Fiscal Limits in Advanced Economies

Leeper, Eric M. - 2011

Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved...

Persistent link: https://www.econbiz.de/10012461838

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