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Labor Market Institutions, International Capital Mobility, and the Persistence of Underdevelopment

Bertocchi, Graziella - In: Review of Economic Dynamics 6 (2003) 3, pp. 637-650

countries involved. We contrast bargaining and perfect competition. Under perfect capital markets, convergence of capital and … convergence of the income shares, with unionized countries showing a lower wage rate and consequent capital inflows. Therefore …

Persistent link: https://www.econbiz.de/10005090984

Neoclassical Growth and Commodity Trade

Cunat, Alejandro; Maffezzoli, Marco - In: Review of Economic Dynamics 7 (2004) 3, pp. 707-736

We construct a dynamic Heckscher-Ohlin model in which the initial distribution of production factors across economies makes factor price equalization impossible. The model produces dynamics similar to those of the neoclassical growth model. However, free trade prevents identically parameterized...

Persistent link: https://www.econbiz.de/10005085506

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model

Bajona, Claustre; Kehoe, Timothy - In: Review of Economic Dynamics 13 (2010) 3, pp. 487-513

In models in which convergence in income levels across closed countries is driven by faster accumulation of a … productive factor in the poorer countries, opening these countries to trade can stop convergence and even cause divergence. We …. Divergence can occur for parameter values that would imply convergence in a world of closed economies and vice versa. Second …

Persistent link: https://www.econbiz.de/10008504403

The Role of Allocative Efficiency in a Decade of Recovery

Chen, Kaiji; Irarrazabal, Alfonso - In: Review of Economic Dynamics

The Chilean economy experienced a decade of sustained growth in aggregate output and productivity after the 1982 financial crisis. This paper analyzes the role of allocative efficiency on total factor productivity (TFP) in the manufacturing sector by applying the methodology of Hsieh and Klenow...

Persistent link: https://www.econbiz.de/10010945609

Spatial Takeoff in the First Industrial Revolution

Trew, Alex - In: Review of Economic Dynamics 17 (2014) 4, pp. 707-725

Using the framework of Desmet and Rossi-Hansberg (2009), we present a model of spatial takeoff that is calibrated using spatially-disaggregated occupational data for England in c.1710. The model predicts changes in the spatial distribution of agricultural and manufacturing employment which match...

Persistent link: https://www.econbiz.de/10010945618

Relative Underperformance Alla Turca

Adamopoulos, Tasso; Akyol, Ahmet - In: Review of Economic Dynamics 12 (2009) 4, pp. 697-717

From 1960 to 2003, Turkey has underperformed relative to several Western economies, in terms of hours worked and output per hour. Our sectoral analysis illustrates two points. First, Turkey's large drop in hours is due to the fact that the substantial decline in agricultural hours has not been...

Persistent link: https://www.econbiz.de/10004985607

A Tale of Two States: Maharashtra and West Bengal

Lahiri, Amartya; Yi, Kei-Mu - In: Review of Economic Dynamics 12 (2009) 3, pp. 523-542

In this paper we study the decline of West Bengal relative to Maharashtra, historically two of the most important states of India. In 1960, West Bengal's per capita income exceeded that of Maharashtra, the third richest state at the time. By 1993, it had fallen to just 69 percent of...

Persistent link: https://www.econbiz.de/10004991315

Demographic Transition and Industrial Revolution: A Macroeconomic Investigation

Bar, Michael; Leukhina, Oksana - In: Review of Economic Dynamics 13 (2010) 2, pp. 424-451

All industrialized countries have experienced a transition from high birth rates, land-based production and stagnant standards of living to low birth rates and sustained income growth. To develop a better understanding of these economic and demographic transformations and the link between them,...

Persistent link: https://www.econbiz.de/10005009775

Aid Effectiveness and Limited Enforceable Conditionality

Scholl, Almuth - In: Review of Economic Dynamics 12 (2009) 2, pp. 377-391

This paper analyzes optimal foreign aid policy in a neoclassical growth framework with a conflict of interest between the donor and the recipient government. Aid conditionality is modeled as a limited enforceable dynamic contract. We define the contract to be self-enforcing if, at any point in...

Persistent link: https://www.econbiz.de/10005090962

Financial Intermediation and Occupational Choice in Development

Erosa, Andres - In: Review of Economic Dynamics 4 (2001) 2, pp. 303-334

This paper presents evidence that the spread between the marginal product of capital and the return on financial assets is mich higher in poor than in rich countries. A model with costly intermediation is developed. In this economy, individuals choose at each instant whether to work or to...

Persistent link: https://www.econbiz.de/10005090978

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