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Based on the characteristics of urban-rural dual economic structure in China, we build a dynamic endogenous urban-rural dual economic model closely linked to China's reality, and carry out mathematical economics analysis of optimized conditions for urban and rural sectors. The main results show...
Persistent link: https://www.econbiz.de/10010918997
Agriculture has a multifunctional role in economic development in developing countries; besides providing food for growing population, it is a major source of economic growth. Furthermore, growth originating from agriculture is known to be twice as effective in poverty reduction as growth...
Persistent link: https://www.econbiz.de/10010920170
Persistent link: https://www.econbiz.de/10010934104
framework of endogenous growth theory, it is known that a sustainable development path is optimal only if the following three …
Persistent link: https://www.econbiz.de/10010949613
This paper develops a monetary endogenous growth model where money is no longer superneutral. Economic growth is propelled by the accumulation of human capital and money enters into the optimization problem of the individual through a shopping-time techno
Persistent link: https://www.econbiz.de/10005212258
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10010835818
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10005703487
The elasticity of intertemporal substitution (EIS) at the macro level has been estimated mostly based on endowment economy models and these estimates are very sensitive to the choice of interest rates that are used for estimation. Estimates based on production economy models do not need...
Persistent link: https://www.econbiz.de/10005126406
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10005094754
This paper analyzes the role of imperfect asset markets and financial intermediaries in determining the equilibrium growth rate of the capital stock by incorporating exogenous market participation constraints into an overlapping generation¡¯s economy. Economic growth and social welfare...
Persistent link: https://www.econbiz.de/10010688380