Showing 1 - 10 of 10
One of the most striking regularities of the growth process is the massive reallocation of labor from agriculture into industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts about economic growth. These...
Persistent link: https://www.econbiz.de/10005200821
This paper presents the different conferences held around the subject of the theory of economic growth.
Persistent link: https://www.econbiz.de/10005200822
This paper reports on the progress made by the literature about economic growth in answering the question "Why do Growth Rates Differ? " It reviews that we currently know about the mechanics of growth miracles and poverty traps, as well as the tentative policy advice that these mechanics suggest.
Persistent link: https://www.econbiz.de/10005220928
In this paper, we study some continuous-time cash-in-advanced models in which interest rate smoothing is optimal. We consider both deterministic and stochastic models.
Persistent link: https://www.econbiz.de/10005808110
A prototypical vintage capital model of economic growth is developed, where the decision to replace old technologies with new ones is modeled explicitly. Technological change is investment specific. Depreciation in this environment is an economic , not a physical concept.
Persistent link: https://www.econbiz.de/10005808115
How much technological change progress has there been in structures? An attempt is made to measure this using panel data on the age and rents of buildings. The data are interpreted with the help of a vintage capital model where buildings are replaced with some chosen periodicity. The key is a...
Persistent link: https://www.econbiz.de/10005808128
This paper analyzes the political economy of growth as an issue of inter-generational distribution. The first part of the paper develops a model of endogenous growth via accumulation of knowledge in a finite-horizon overlapping generations setting. equilibrium growth is enefficient due to the...
Persistent link: https://www.econbiz.de/10005504002
This paper explores the effect of policy variability (or frequency of regime switching) on economic growth and welfare. We study a one sector growth model where investment can be subsidized at either a positive rate or not subsidized at all.
Persistent link: https://www.econbiz.de/10005504054
Persistent link: https://www.econbiz.de/10005698159
The role that investment-specific technological change played in generating postwar US growth is investigated here. The premise is that the introduction of new, more efficient capital goods is an important source of productivity change, and an attempt is made to disentangle its effects from the...
Persistent link: https://www.econbiz.de/10005698175