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We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary …-reducing. Expansive education policies may foster growth and reduce earning inequalities between workers, but only by transferring income … recent stylized facts on growth, distribution and education for the US. …
Persistent link: https://www.econbiz.de/10011596523
A simple classical-Marxian model of growth and distribution is developed in which education transforms low … education can have a positive effect on growth but by altering the distribution of income rather than by fostering technological …-skilled wages and profit income. We analyze the implications for class divisions, growth and distribution, of the transformation of …
Persistent link: https://www.econbiz.de/10011596528
We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash...
Persistent link: https://www.econbiz.de/10008737158
Persistent link: https://www.econbiz.de/10012648357
The growth prospects of a nation are stymied by the burden of government debt. This study has two goals: first, it … tests whether public debt hinders growth; and, second, it explores whether economic policy ameliorates this effect. A large … panel data of countries for 1970–2010 reveal a negative and robust effect of public debt on growth. Strong institutions …
Persistent link: https://www.econbiz.de/10011303250
This paper seeks to identify the most promising fiscal strategy to boost long-term economic growth in Argentina and … quantify its effects. To this end, the authors updated a growth-diagnostics study for Argentina and corroborated that low … improved appropriability and long-term growth. …
Persistent link: https://www.econbiz.de/10011303821
Persistent link: https://www.econbiz.de/10010238005
economic development and growth is still in its infancy. In order to facilitate further necessary research on this topic, this …
Persistent link: https://www.econbiz.de/10010247143
The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the...
Persistent link: https://www.econbiz.de/10011438640
the first time the negative impact of cronyism on economic growth. In the early 2000s, a policy shift in Egypt led to the … 1996 and 2006 experienced lower aggregate employment growth during the period than those that did not. A wide array of …
Persistent link: https://www.econbiz.de/10011544875