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The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...
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economic growth that has accumulated over the past quarter-century. The bulk of the historical evidence suggests that financial … development a¤ects economic growth in a positive, monotonic way, yet recent research endeavors have provided useful and important … society, as well as the channels through which finance can slow down long-term growth. …
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endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance … fosters the correct allocation of financial resources, the fair redistribution of wealth and positive economic growth (the … financial system with the ability to create money ex nihilo, over time it drags the economy down to recession or negative growth …
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We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
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Central America experienced moderate growth during the last decade, including in the years leading up to the global … imply that these trends will continue. What can be done to spur higher growth in Central America? We bring new data to bear …-country panel regression of economic growth using System GMM captures the importance to growth of conditional convergence, factor …
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