Showing 1 - 10 of 176
This paper constructs a two-country stochastic growth model in which neutraland investment-specic technology shocks are nonstationary but cointegrated acrosseconomies. It uses this model to interpret data showing that while real investmenthas grown faster than real consumption in the United...
Persistent link: https://www.econbiz.de/10009302547
We construct and estimate a unified model combining three of the main sources of cross-country income disparities:[...]
Persistent link: https://www.econbiz.de/10009486844
This paper provides a unified theory of the economic and demographic transition. Individualsmake optimal decisions about fertility, education of their children and the type and intensity ofthe investments in their own education. These decisions are affected by different dimensionsof mortality...
Persistent link: https://www.econbiz.de/10005862590
We study long-run trends in market hours of work and employment shifts across economicsectors driven by uneven TFP growth in market and home production. We focus on thesubstitutions between market and home production and on the structural transformationbetween agriculture, manufacturing and...
Persistent link: https://www.econbiz.de/10005863374
Schumpeterian development is characterised by the simultaneous interplay of growthand qualitative transformations of the economic system. At the sectoral level, suchqualitative transformations become manifest as variations in the sectoral composition ofproduction. Following the implementation of...
Persistent link: https://www.econbiz.de/10005866053
This paper introduces wealth-dependent time preference into a simplemodel of endogenous growth. The model generates adjustment dynamics in linewith the historical facts on savings and economic growth in Europe from the HighMiddle Ages to today. Along a virtuous cycle of development more wealth...
Persistent link: https://www.econbiz.de/10005867305
The paper contributes to the literature on the relation between structural changes indemand and supply and growth. We develop a macro{economic model with agent{basedmicro{foundations that articulates the links between production and organisational structureson the supply side, and the endogenous...
Persistent link: https://www.econbiz.de/10005867789
This paper develops a new open-economy endogenous growth modelwhere technology diffusion allows for a stable and non-degenerate world incomedistribution. In accordance with the empirical literature, I find that country characteristicssuch as the social infrastructure, the degree of openness, the...
Persistent link: https://www.econbiz.de/10005868385
We derive an R&D-based semi-endogenous growth model where technological progressdepends on the available amount of technological opportunity. Incremental innovationsprovide direct increases in the knowledge stock but they reduce technological opportunityand thus the potential for further...
Persistent link: https://www.econbiz.de/10005868819
This paper analyses a model of overlapping generations in which agents who do notparticipate in the labor market are unable to borrow. Thus an increase in a fullyfunded pension raises aggregate savings even with a fixed participation rate, sinceprivate savings are not crowded out one-for-one....
Persistent link: https://www.econbiz.de/10005868936