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Real Business Cycles with a Human Capital Investment Sector and Endogenous Growth: Persistence, Volatility and Labor Puzzles
Dang, Jing; Gillman, Max; Kejak, Michal - 2011
An identical two-sector productivity shock causes Rybczynski (1955) and Stolper and Samuelson (1941) effects that …
Persistent link: https://www.econbiz.de/10010494483
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Stuck on gold: real exchange rate volatility and the rise and fall of the gold standard, 1870-1939
Chernyshoff, Natalia; Jacks, David S.; Taylor, Alan M. - 2005
thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … shocks if it ties the hands of policy makers. But any decision to forsake exchange-rate flexibility might compromise shock … absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in …
Persistent link: https://www.econbiz.de/10010266408
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Output volatility and openness to trade: A reassessment
Cavallo, Eduardo A. - 2007
Many economists believe that, while openness to trade increases average GDP growth rates, it also raises output volatility by exposing countries to terms-oftrade shocks. This view does not take into account that, as suggested by a recent strand of the financial fragility literature, commercial...
Persistent link: https://www.econbiz.de/10010278237
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Climatic fluctuations and the diffusion of agriculture
Ashraf, Quamrul; Michalopoulos, Stelios - 2013
This research examines variations in the diffusion of agriculture across countries and archaeological sites. The theory …
Persistent link: https://www.econbiz.de/10010420257
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Knowledge and economic progress: The role of social technologies
Eggertson, Thráinn - 2008
I focus on the independent role of social innovation in economic progress. Modern theory of economic growth and …
Persistent link: https://www.econbiz.de/10014306472
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Inventor mobility, knowledge diffusion, and growth
Koike-Mori, Yasutaka; Maruyama, Toshitaka; Okumura, Koki - 2024
This paper develops an endogenous growth model that incorporates a frictional inventor market and examines the allocation of inventors across firms, knowledge diffusion, and its impact on growth. In our model, inventors play dual roles: they engage in in-house R&D and transfer knowledge from...
Persistent link: https://www.econbiz.de/10015054238
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AS-AD in the Standard Dynamic Neoclassical Model: Business Cycles and Growth Trends
Gillman, Max - 2012
The paper shows how a dynamic neoclassical AS-AD can be derived and used to describe business cycles and growth trends to undergraduates. Derived within the Ramsey-Cass-Koopmans (RCK) model, the AS-AD is the stationary equilibrium of the deterministic dynamic general equilibrium framework....
Persistent link: https://www.econbiz.de/10010494523
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Shifting into digital services: Does a crisis matter and for who?
van der Marel, Erik - 2020
How do trade patterns change after an external shock such as an economic crisis, and is this shift structural? This …
Persistent link: https://www.econbiz.de/10014327353
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Design-based identification with formula instruments: A review
Borusyak, Kirill; Hull, Peter; Jaravel, Xavier - 2023
Many studies in economics use instruments or treatments which combine a set of exogenous shocks with other predetermined variables by a known formula. Examples include shift-share instruments and measures of social or spatial spillovers. We review recent econometric tools for this setting, which...
Persistent link: https://www.econbiz.de/10014480549
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Energy Prices and Economic Growth: Theory and Evidence in the Long Run
Berk, Ýstemi; Yetkiner, Hakan - 2013
In this paper, we attempt to derive and test the role of energy prices on economic growth. We first developed a two-sector endogenous growth model, based on Rebelo (1991). We modified the model such that consumption goods sector uses energy as an input along with capital. The model allows us to...
Persistent link: https://www.econbiz.de/10011807219