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The Turning Tide : How Energy Has Driven the Transformation of the British Economy Since the Industrial Revolution
Frieling, Julius - 2018
Since the Industrial Revolution, the economy of the UK has transformed from that of an industrial manufacturing giant to a service economy and a central hub for the financial sector. Energy and energy services derived from fossil fuels have played a key role as drivers behind this structural...
Persistent link: https://www.econbiz.de/10012932104
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Political power, resistance to technological change and economic development : evidence from the 19th century Sweden
Tyrefors, Björn; Lindgren, Erik; Pettersson-Lidbom, Per - 2017 - This version: June 16, 2017
We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
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Economic Growth, Technology Trade and R&D
Toro González, Daniel - 2010
growth model framework, the role of technology trade and investment in R&D is verified as an approximate measurement of …
Persistent link: https://www.econbiz.de/10013136771
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Interest premium and economic growth: the case of CEE
Baksa, Dániel; Kónya, István - 2017
This paper views the growth and convergence process of the four Visegrad economies - the Czech Republic, Hungary, Poland and Slovakia - through the lens of the open economy, stochastic neoclassical growth model. We use a unified framework to understand both the long-run convergence path and...
Persistent link: https://www.econbiz.de/10011686350
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Trend growth expectations and US house prices before and after the crisis
Hoffmann, Mathias; Krause, Michael; Laubach, Thomas - 2012
portion of the evolution of U.S. house prices during the past 20 years can be reproduced when expectations of future income … corresponding changes in house prices, since the value of housing must be linked to expected aggregate income. Only since about 2005 …
Persistent link: https://www.econbiz.de/10009528869
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Growth impacts of the exchange rate and technology
Márquez-Velázquez, Alejandro - 2016
suggest that developing countries grow faster when they are globally competitive in low-technology manufacturing and natural … undervaluation in middle-income countries by accounting for an explicit role for domestic technological capabilities in the …
Persistent link: https://www.econbiz.de/10011536945
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Inequality, aging, and the middle-income trap
Wang, Chen; Lan, Jiajun - 2017
the probability of a country escaping the middle income trap (MIT). A second contribution of this paper is to model this … probability using 1960–2015 cross-country data, focusing on the roles of income distribution or inequality and aging. It is found …; (2) relative to income distribution, aging is found to be much less important in terms of both magnitude and statistical …
Persistent link: https://www.econbiz.de/10011757920
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Elasticity of substitution and growth: normalized CES in the Diamond model
Miyagiwa, Kaz; Papageorgiou, Chris - In: Economic Theory 21 (2003) 1, pp. 155-165
It is often asserted that the more substitutable capital and labor are in the aggregate production the more rapidly an economy grows. Recently this has been formally confirmed within the Solow model by Klump and de La Grandville (2000). This paper demonstrates that there exists no such monotonic...
Persistent link: https://www.econbiz.de/10005371010
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Testing the balanced growth hypothesis in the presence of structural breaks : evidence from developed and developing countries
Arjun; Mishra, Bibhuti Ranjan - In: Prague economic papers : a bimonthly journal of … 33 (2024) 1, pp. 1-35
The balanced growth theory and the neoclassical growth model predict that certain macroeconomic variables such as output, consumption, and investment grow at a constant rate. Analytically, it indicates that the consumption-output ratio and the investment-output ratio (termed "great ratios") must...
Persistent link: https://www.econbiz.de/10014516266
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Potential Growth of the Spanish Economy
Cuadrado, Pilar - 2016
This paper presents an estimate of the Spanish economy's potential growth. This estimate is based on a production function methodology that includes certain refinements on previous versions and generates less procyclical potential output growth estimates than those traditionally considered in...
Persistent link: https://www.econbiz.de/10012998649