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Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10010281026

Spatial Competition in Quality, Demand-Induced Innovation, and Schumpeterian Growth

Auer, Raphael; Sauré, Philip - 2011

We develop a general equilibrium model of vertical innovation in which multiple firms compete monopolistically in the … the product cycle as it is superseded by further innovations. The intrinsic reason that innovation happens in our economy … is not one of displacing the incumbent; rather, innovation is a means to differentiate oneself from existing firms and …

Persistent link: https://www.econbiz.de/10011430082

2008 Lawrence R. Klein lecture - Comparative economic development: Insights from unified growth theory

Galor, Oded - 2009

This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the factors that have governed the pace of the transition from...

Persistent link: https://www.econbiz.de/10010284035

Multiple growth regimes: Insights from unified growth theory

Galor, Oded - 2007

Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in...

Persistent link: https://www.econbiz.de/10010318873

Words, deeds, and outcomes: A survey on the growth effects of exchange rate regimes

Harms, Philipp; Kretschmann, Marco - 2007

Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory results. In this paper, we systematically compare three prominent contributions in this field. Using a common data set, a common specification, and common estimation methods, we...

Persistent link: https://www.econbiz.de/10011430062

Macroeconomic determinants of exit from aid-dependence

Hailu, Degol; Shiferaw, Admasu - 2012

This paper analyses macroeconomic aspects of exit from aid-dependence. By 'exit from aid', we mean substantial and enduring decline over time in Official Development Assistance (ODA) as a share of Gross Domestic Product (GDP). The relevant macroeconomic variables are identified by systematically...

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

The impact of inflation targeting on unemployment in developing and emerging economies

Divino, Jose Angelo - 2009

Several countries around the world have adopted the inflation targeting regime for monetary policy. Despite the growing literature on the issue, it is not clear whether developing and emerging countries can improve their economic performance by adopting inflation targeting. This working paper...

Persistent link: https://www.econbiz.de/10010293308

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

Are crises good for long-term growth? The role of political institutions

Cavallo, Alberto F.; Cavallo, Eduardo A. - 2008

This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with...

Persistent link: https://www.econbiz.de/10010278293

Post-1500 population flows and the long run determinants of economic growth and inequality

Putterman, Louis; Weil, David N. - 2008

We construct a matrix showing the share of the year 2000 population in every country that is descended from people in different source countries in the year 1500. Using this matrix, we analyze how post-1500 migration has influenced the level of GDP per capita and within-country income inequality...

Persistent link: https://www.econbiz.de/10010284078

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