Showing 1 - 10 of 250
We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and...
Persistent link: https://www.econbiz.de/10012953960
The study presents a simple extension of a Harrodian model, that explores, the relationship between the environment and economic growth in a hypothetical dual low-income economy with relatively low levels of environmental quality. It is supposed that the rise in effective demand increases the...
Persistent link: https://www.econbiz.de/10012914841
For a panel of 75 countries, we find that increases in global agricultural commodity prices that are caused by unfavorable harvest shocks in other regions of the world significantly curtail domestic economic activity. The effects are much larger than for average global agricultural price shifts....
Persistent link: https://www.econbiz.de/10012915574
For a panel of 75 countries, we find that increases in global agricultural commodity prices that are caused by unfavorable harvest shocks in other regions of the world significantly curtail domestic economic activity. The effects are much larger than for average global agricultural price shifts....
Persistent link: https://www.econbiz.de/10011846251
We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and...
Persistent link: https://www.econbiz.de/10011657885
We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and...
Persistent link: https://www.econbiz.de/10012934234
Disasters and pandemics such as COVID-19 will change the world in many ways and the road to redemption from the ongoing economic distress may require a novel approach. This paper proposes a path towards economic recovery that keeps sustainability at the forefront. A computable general...
Persistent link: https://www.econbiz.de/10012824475
We investigate the long-term macroeconomic effects of climate change across 48 U.S. states over the period 1963.2016 using a novel econometric strategy which links deviations of temperature and precipitation (weather) from their long-term moving-average historical norms (climate) to various...
Persistent link: https://www.econbiz.de/10013306954
We ask two questions related to how access to credit affects the nature of business cycles. First, does the standard theory of unsecured credit account for the high volatility and procyclicality of credit and the high volatility and countercyclicality of bankruptcy filings found in U.S. data?...
Persistent link: https://www.econbiz.de/10010941009
The recent global recession requires policy makers to identify the relative importance of shock transmission mechanisms in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics have changed considerably due to increased openness...
Persistent link: https://www.econbiz.de/10008533255