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Li, Mengheng; Mendieta-Muñoz, Ivan - 2024

We study how the output gap affects potential output over time-i.e., the dynamic hysteresis effect. To do so, we introduce novel unobserved components (UC) models that consider hysteresis as a sequence of lagged effects, thus separating the long-run recession-induced adverse effects from other...

Persistent link: https://www.econbiz.de/10014581848

Technical change in India's organized manufacturing sector

Felipe, Jesus; Kumar, Utsav - 2010

We use the real wage-profit rate schedule to examine the direction of technical change in India's organized manufacturing sector during 1980-2007. We find that technical change was Marx biased (i.e., declining capital productivity with increasing labor productivity) through the 1980s and 1990s;...

Persistent link: https://www.econbiz.de/10010286494

Economic Growth and Evolution : Parental Preferences for Quality and Quantity of Offspring

Collins, Jason - 2012

This paper presents a quantitative analysis of the model developed in Galor and Moav, Natural Selection and the Origin of Economic Growth (2002), in which agents vary genetically in their preference for quality and quantity of children. The simulation produces a pattern of income and population...

Persistent link: https://www.econbiz.de/10013114693

Macroeconomic determinants of exit from aid-dependence

Hailu, Degol; Shiferaw, Admasu - 2012

maintaining moderate inflation, the rate of investment; aggressive effort at domestic resource mobilisation; and structural change …

Persistent link: https://www.econbiz.de/10010293266

Wage and profit-led growth: The limits to Neo-Kaleckian models and a Kaldorian proposal

Pérez Caldentey, Esteban; Vernengo, Matías - 2013

investment. Kaleckian-Robinsonian models postulate an investment function dependent on the accelerator and profitability. Some of …. For their part, Kaldorian models place the emphasis on the accelerator. More important, investment is a derived demand … positively related to growth, investment, and capacity utilization. It also highlights the role of finance in sustaining …

Persistent link: https://www.econbiz.de/10010513026

Solving consumption models with multiplicative habits

Carroll, Christopher D. - 2000

This paper provides derivations necessary for solving an optimal consumption problem with multiplicative habits and a CRRA 'outer' utility function either for a microeconomic problem with both labor income risk and rate-of-return risk or for a macroeoconomic representative agent model.

Persistent link: https://www.econbiz.de/10010293504

Does Free Trade Really Reduce Growth? Further Testing Using the Economic Freedom Index

Berggren, Niclas; Jordahl, Henrik - 2003

While studies of the relationship between economic freedom and economic growth have shown it to be positive, significant and robust, it has rightly been argued that different areas of economic freedom may have quite different effects on growth. Along that line, Carlsson and Lundström (2002)...

Persistent link: https://www.econbiz.de/10010321548

Does excessive sovereign debt really hurt growth? A critique of This time is different, by Reinhart and Rogoff

Nersisyan, Yeva; Wray, L. Randall - 2010

The worst global downturn since the Great Depression has caused ballooning budget deficits in most nations, as tax revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal policy. With notable exceptions, most economists accept the desirability of...

Persistent link: https://www.econbiz.de/10010333044

Heterogeneous convergence

Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - 2013

We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity. E.g., the California estimate is 19.9 percent and the New York estimate is 3.3 percent. Convergence rates are essentially uncorrelated with income levels.

Persistent link: https://www.econbiz.de/10010335973

Federal, state, and local governments: Evaluating their separate roles in US growth

Higgins, Matthew J.; Young, Andrew T.; Levy, Daniel - 2008

We use US county level data (3,058 observations) from 1970 to 1998 to explore the relationship between economic growth and the extent of government employment at three levels: federal, state and local. We find that increases in federal, state and local government employments are all negatively...

Persistent link: https://www.econbiz.de/10010336011

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