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Japanese growth and stagnation: A Keynesian perspective
Nakatani, Takeshi; Skott, Peter - 2006
This paper uses a modi.ed Harrodian model to understand both the long period of rapid Japanese growth and the recent period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government intervention, we argue, took the Japanese economy...
Persistent link: https://www.econbiz.de/10010287845
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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012818360
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Debt and Economic Growth in Developing and Industrial Countries
Schclarek, Alfredo - 2004
This paper empirically explores the relationship between debt and growth for a number of developing and industrial economies. For developing countries, we find that lower total external debt levels are associated with higher growth rates, and that this negative relationship is driven by the...
Persistent link: https://www.econbiz.de/10013208488
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The relationship between housing investment and economic growth in China: A panel analysis using quarterly provincial data
Chen, Jie; Zhu, Aiyong - 2008
China using the quarterly province-level panel data for the period 1999 q1 to 2007 q4. Recently developed econometric … techniques for panel unit root testing and heterogeneous panel cointegration analysis are employed. The empirical results provide …. The variations across regions are detected and reasons for this fact are discussed. Based on the panel ECM, we show that …
Persistent link: https://www.econbiz.de/10010321479
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India's economic growth: From socialist rate of growth to Bharatiya rate of growth
Virmani, Arvind - 2004
Paper reviews India's growth performance since independence. Phrases suchas "Hindu Rate of Growth," sometimes make a telling comment and expose obscureeconomic data to a wider audience, but they can just as readily obscure reality byfocussing attention on the wrong issue. There is nothing in the...
Persistent link: https://www.econbiz.de/10011807532
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Sustainability of Public Debt and Budget Deficit: Panel cointegration analysis for the European Union Member countries
Prohl, Silika; Schneider, Friedrich G. - 2006
In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and … error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration … conclude that the fiscal policy is consistent with the intertemporal budget constraint, i.e., it is sustainable in the panel of …
Persistent link: https://www.econbiz.de/10010294496
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Cross-Border Trade and FDI in Services
Fillat-Castejon, Carmen; Francois, Joseph Francis; … - 2008
Working with a panel dataset of of OECD countries over the decade 1994-2004, we examine linkages between cross …
Persistent link: https://www.econbiz.de/10010294854
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Consistent estimation of the fixed effects ordered logit model
Baetschmann, Gregori; Staub, Kevin E.; Winkelmann, Rainer - 2011
The paper re-examines existing estimators for the panel data fixed effects ordered logit model, proposes a new one, and …
Persistent link: https://www.econbiz.de/10010316860
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Identification and estimation of thresholds in the fixed effects ordered logit model
Baetschmann, Gregori - 2011
The paper proposes a new estimator for the fixed effects ordered logit model. In contrast to existing methods, the new procedure allows estimating the thresholds. The empirical relevance and simplicity of implementation is illustrated in an application to the effect of unemployment on life...
Persistent link: https://www.econbiz.de/10010316876
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Reconsidering the analysis of longitudinal happiness data: With an application to the effect of unemployment
Baetschmann, Gregori; Staub, Kevin E.; Winkelmann, Rainer - 2011
The paper reconsiders existing estimators for the panel data fixed effects ordered logit model, including one that has …
Persistent link: https://www.econbiz.de/10010316884