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Legal Institutions, Sectoral Heterogeneity, and Economic Development
CASTRO, Rui; CLEMENTI, Gian Luca; MACDONALD, Glenn - Centre Interuniversitaire de Recherche en Économie … - 2009
Poor countries have lower PPP–adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods, or because they are subject to greater...
Persistent link: https://www.econbiz.de/10008617049
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Legal Institutions, Sectoral Heterogeneity, and Economic Development
CASTRO, Rui; CLEMENTI, Gian Luca; MACDONALD, Glenn - Département de Sciences Économiques, Université de … - 2009
Poor countries have lower PPP–adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods, or because they are subject to greater...
Persistent link: https://www.econbiz.de/10008679134
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An Interview with Paul A. Samuelson
Barnett, William - Department of Economics, University of Kansas - 2004
) that it could be particularly difficult to identify those areas of modern economic theory to which he has not made seminal … theory, which has since become legendary. An unconfirmed anecdote has it that at the end of Samuelson's dissertation defense … be listed here? being among the most prolific writers in economics. Samuelson's signature method of economic theory …
Persistent link: https://www.econbiz.de/10005115543
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Budgetary Policy and Unemployment Dynamics
von Thadden, Leopold; Kaas, Leo - Deutsche Bundesbank - 2001
We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an...
Persistent link: https://www.econbiz.de/10005083290
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Social Security Policy with Public Debt in an Aging Economy
Ono, Tetsuo - Center for Intergenerational Studies, Institute of … - 2002
This paper analyzes a social security policy with public debt in an overlapping generations growth model. In particular, the paper considers a situation in which population aging causes a heavy burden of social security payments where public debt is issued by the government to finance the...
Persistent link: https://www.econbiz.de/10005018473
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Dynamic Fiscal Policies, Unemployment, and Economic Growth
Josten, Stefan Dietrich - Fächergruppe Volkswirtschaftslehre, Helmut Schmidt … - 2003
This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...
Persistent link: https://www.econbiz.de/10004970422
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Fiscal sustainability and public debt in an endogenous growth model
Fernández-Huertas Moraga, Jesús; Vidal, Jean-Pierre - European Central Bank - 2004
This paper investigates fiscal sustainability in an overlapping generations economy with endogenous growth coming from human capital formation through educational spending. We assess how budgetary imbalances affect economic dynamics and the outlook for economic growth, thereby providing a...
Persistent link: https://www.econbiz.de/10005530746
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Social security policy with public debt in an aging economy
Ono, Tetsuo - In: Journal of Population Economics 16 (2003) 2, pp. 363-387
This paper analyzes a social security policy with public debt in an overlapping generations growth model. In particular, the paper considers a situation in which population aging causes a heavy burden of social security payments where public debt is issued by the government to finance the...
Persistent link: https://www.econbiz.de/10005622318
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Optimal Financial Repression
Norkina, Olga A.; Pekarski, Sergey E. - National Research University Higher School of Economics - 2014
Modern financial repression in advanced economies does not rely on increasing seigniorage revenue, but mostly rests upon regulatory measures to enlarge the demand for public debt that delivers extremely low or negative real interest rate. In this paper we propose the extension of the overlapping...
Persistent link: https://www.econbiz.de/10011098869
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On the Modeling of the Income Distribution Business Cycle Dynamics
Heer, Burkhard - CESifo - 2007
Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. We find that business cycle models should consider overlapping generations and elastic labor supply in order to replicate this finding.
Persistent link: https://www.econbiz.de/10005181506