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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

Social capability, history and the economies of Communist and post-Communist states

Iliev, Peter; Putterman, Louis - 2005

It has been shown, for non-Communist developed and developing countries, that earlier development of agriculture, a dense population, and a state-level polity is associated with a higher income and more rapid economic growth in the late 20th Century. We investigate whether this was also the case...

Persistent link: https://www.econbiz.de/10010318883

Agriculture, diffusion, and development: Ripple effects of the neolithic revolution

Putterman, Louis - 2006

Are the Neolithic revolution’s effects still impacting incomes across the world today? I find strong support for this proposition using new, country-specific estimates of the timing of agricultural transition. While support with my data is slightly weaker than with the coarser data of Hibbs...

Persistent link: https://www.econbiz.de/10010318923

Early starts, reversals and catchup in the process of economic development

Chanda, Areendam; Putterman, Louis - 2004

Early states like China, India, Italy and Greece have been experiencing more rapid economic growth in recent decades than have later-comers to agriculture and statehood like New Guinea, the Congo, and Uruguay. We show that more rapid growth by early starters has been the norm in economic...

Persistent link: https://www.econbiz.de/10010318983

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 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