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Measuring the Contribution of Public Infrastructure Capital in Sweden
Berndt, Ernst R. - 1991
Our purpose in this paper is to examine how one might evaluate and measure the contribution of public infrastructure …, we find that increases in public infrastructure capital, ceteris paribus, reduce private sector costs. We compute that … amount of public infrastructure capital that would rationalize the cost savings incurred by the private business and …
Persistent link: https://www.econbiz.de/10012475151
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The Impact of Globalization on Pre-Industrial, Technologically Quiescent Economies
Williamson, Jeffrey G. - 1999
This paper uses a new pre-1940 Third World data base documenting real wages and relative factor prices to explore their … wages to land rents, on the other hand, declined up to World War I and so did the ratio of wages to GDP per capita. The …
Persistent link: https://www.econbiz.de/10012471648
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Mismatch and Assimilation
Wang, Ping - 2018
Income disparity across countries has been large and widening over time. We develop a tractable model where factor requirements in production technology do not necessarily match a country's factor input profile. Appropriate assimilation of frontier technologies balances such multi-dimensional...
Persistent link: https://www.econbiz.de/10012480613
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Importing Skill-Biased Technology
Burstein, Ariel - 2011
Capital equipment - such as computers and industrial machinery - embodies skill-biased technology, in the sense that it is complementary to skilled labor. Most countries import a large share of their capital equipment, and by doing so import skill-biased technology. In this paper we develop a...
Persistent link: https://www.econbiz.de/10012461199
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The Comovements Between Real Activity and Prices at Different Business Cycle Frequencies
Haan, Wouter J. Den - 1996
In this paper, I present two different methods that can be used to obtain a concise set of descriptive results about the comovement of variables. The statistics are easy to interpret and capture important information about the dynamics in the system that would be lost if one focused only on the...
Persistent link: https://www.econbiz.de/10012473303
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Deterministic vs. Stochastic Trend in U.S. GNP, Yet Again
Diebold, Francis X. - 1996
A sleepy consensus has emerged that U.S. GNP data are uninformative as to whether trend is better described as deterministic or stochastic. Although the distinction is not critical in some contexts, it is important for point forecasting, because the two models imply very different long-run...
Persistent link: https://www.econbiz.de/10012473378
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Unit Roots in Macroeconomic Time Series : Some Critical Issues
McCallum, Bennett T. - 1993
This paper suggests that the relevant question concerning unit root' in the U.S. real GNP time series pertains to the relative importance of difference-stationary and trend-stationary components. Various analytical approaches indicate than an accurate answer is not obtainable with existing data....
Persistent link: https://www.econbiz.de/10012474588
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Unit Roots in Real GNP : Do We Know, and Do We Care?
Christiano, Lawrence J. - 1989
No, and maybe not. [additional text from author's introduction] To us, the possibility of providing a compelling case that real GMP is either trend or difference stationary seems extremely small, certainly on the basis of post-war data. This is because there is only one difference between these...
Persistent link: https://www.econbiz.de/10012475913
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On the Existence and Interpretation of the "Unit Root" in U.S. GNP
De Long, J. Bradford - 1988
In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain the choices individuals make when faced with risky prospects. To make this assessment, we use experimental evidence for two random samples of young adults. Using a robust,...
Persistent link: https://www.econbiz.de/10012476345
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Searching For a Break in GNP
Christiano, Lawrence J. - 1988
It has been suggested that existing estimates of the long-run impact of a surprise move in income may have a substantial upward bias due to the presence of a trend break in post war U.S. GNP data. This paper shows that the statistical evidence does not warrant abandoning the no trend null...
Persistent link: https://www.econbiz.de/10012476369