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Persistent link: https://www.econbiz.de/10005583017
This study examines a crucial assumption in much of the recent work on endogenous growth, namely, constant returns to scale in the production of human capital. A simple model is constructed to show that the returns to scale in human capital production can be inferred from the relationship...
Persistent link: https://www.econbiz.de/10005146843
This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer's [1990] model, two new functions are introduced: (1) a specification for the production of new designs that assumes no externalities and no inventions...
Persistent link: https://www.econbiz.de/10005146851
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determinants that probably affect the demand for money in a small open transition economy. We do so in the case of both narrow and …
Persistent link: https://www.econbiz.de/10005368730
transition economies. Therefore, this paper strives to analyze the particular relevance of a currency substitution phenomenon for … the literature. Subsequently, we discuss the role of currency substitution in small open economies in transition with some …
Persistent link: https://www.econbiz.de/10005146853
other selected transition economies by applying the concept of the debt-adjusted real exchange rate (DARER), thereby … motivation for constructing DARER is the fact that many transition economies finance their long-term current account deficits … Czech Republic. Part six and annex 1 to this work contain empirical DARER results for selected transition countries …
Persistent link: https://www.econbiz.de/10005747147