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Elasticity of Factor Substitution and Capital Formation in a Two-Sector Economy
Mino, Kazuo - Volkswirtschaftliche Fakultät, … - 2011
This paper explores the relationship between factor substitution in production and the steady-sate level of capital stock in a growing economy. Unlike the foregoing studies on this topic that have exclusively utilized one-sector growth models, we consider a two-sector economy where investment...
Persistent link: https://www.econbiz.de/10011109476
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Inflationary pressures in South Asia
Goyal, Ashima - In: Asia-Pacific Development Journal 17 (2010) 2, pp. 1-42
price shocks, provides a useful opportunity to better understand the structure of inflation in these economies. Analysis of … that output is largely demand determined but inefficiencies on the supply side perpetuate inflation. Pro-cyclical policy … amplifies the negative impact of supply shocks on output. Inflation surges are reduced at high output cost while propagation …
Persistent link: https://www.econbiz.de/10009364296
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Inflationary Pressures in South Asia
Goyal, Ashima - Economic and Social Commission for Asia and the Pacific …
price shocks, gives a useful opportunity to better understand the structure of inflation in these economies. Analysis of the … inefficiencies on the supply side perpetuate inflation. Procyclical policy amplifies the negative impact of supply shocks on output …. Inflation surges are reduced at high output cost while propagation mechanisms and well-intentioned administrative interventions …
Persistent link: https://www.econbiz.de/10010890749
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On the Tyranny of Numbers : East Asian Miracles in World Perspective
Ferreira, Pedro C. - 2006
In a widely cited paper, Young (1995) showed that the East Asian miracles (Hong Kong, Korea, Singapore and Taiwan) grew mostly through input accumulation during the period 1966-1990. Using data for 83 countries taken from the Penn World Table, version 6.1, and Barro and Lee (2000), we use a...
Persistent link: https://www.econbiz.de/10012734754
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Escaping the Curse of Oil? The Case of Gabon
Soderling, Ludvig - 2006
This paper studies the prospects for sustainable growth and economic development in Gabon in the face of a severe decline in its main source of income and growth i.e. oil. A simple Computable General Equilibrium model is used to simulate the development of the non-oil economy under various...
Persistent link: https://www.econbiz.de/10012782813
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Population, Pensions, and Endogenous Economic Growth
Heer, Burkhard - 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10012768291
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Neoclassical Growth and the Natural Resource Curse Puzzle
Guilló, María Dolores; Pérez-Sebastián, Fidel - Departamento de Métodos Cuantitativos y Teoría … - 2012
The traditional view that natural riches increase the wealth of nations has been recently challenged by empirical findings that point out that natural inputs are negatively related to growth. This paper shows, within a two-sector neo-classical growth model with international trade in goods, that...
Persistent link: https://www.econbiz.de/10010991672
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Misallocation and Productivity
Restuccia, Diego; Rogerson, Richard - University of Toronto, Department of Economics - 2012
A large portion of differences in output per capita across countries is explained by differences in total factor productivity (TFP). In this article, we summarize a recent literature - and the articles in this special issue on misallocation and productivity - that focus on the reallocation of...
Persistent link: https://www.econbiz.de/10010850124
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Accounting for Spanish business cycles.
Rodríguez-López, Jesús; Solís-García, Mario - Departamento de Economía, Universidad Pablo de Olavide - 2014
We apply the business cycle methodology proposed by Chari, Kehoe, and McGrattan (2007) to identify the sources of Spanish business fluctuations during two outstanding cyclical episodes: the recession alongside the transition to democracy in 1977 and the great recession of 2008. We find that the...
Persistent link: https://www.econbiz.de/10010875541
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China’s Great Convergence and Beyond
Storesletten, Kjetil; Zilibotti, Fabrizio - In: Annual Review of Economics 6 (2014) 1, pp. 333-362
review a comprehensive theory of its economic transition. Finally, we discuss China’s future. In particular, we review some …
Persistent link: https://www.econbiz.de/10010886217