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, industrialization and Technological Advancement. The focus of this paper is to theorize investment attraction mechanism for a national …
Persistent link: https://www.econbiz.de/10012913593
", as proxied by productivity growth shocks - in line with the Real Business Cycle framework -, and we provide empirical … evidence of a "demand granularity", based on investment growth shocks instead. The role of demand in explaining aggregate …
Persistent link: https://www.econbiz.de/10011873811
these medium-term fluctuations, we establish a macro-dynamic model where the q-theory of investment is combined with … and the investment-capital ratio, fluctuate significantly on medium-term frequencies of 10-40 years duration. To explain …
Persistent link: https://www.econbiz.de/10013061233
The Producer Price Index (PPI) for the United States suggests that semiconductor prices have barely been falling in recent years, a dramatic contrast to the rapid declines reported from the mid-1980s to the early 2000s. This slowdown in the rate of decline is puzzling in light of evidence that...
Persistent link: https://www.econbiz.de/10011708124
Much of the recent interest in the relationship between growth and distribution has focused on advanced economies and neglected issues of development and structural transformation. The purpose of this paper is to make a contribution to this gap by arguing that, even in the short-run, some of the...
Persistent link: https://www.econbiz.de/10012024613
Persistent link: https://www.econbiz.de/10012832864
for the evolution of U.S. productivity and labor share. Second, the labor wedge was the main force driving the recovery of …
Persistent link: https://www.econbiz.de/10012832868
Foreign driven medium-term oscillations that originate from uctuations in technological frontier countries gained widespread attention among policymakers. To study this phenomenon in the context of domestic and other foreign drivers of the euro area business cycle, we develop a medium-scale,...
Persistent link: https://www.econbiz.de/10012499631
positive network externalities that should be present if endogenous growth theory is correct. We study the relationship between …. This provides support for endogenous growth theory …
Persistent link: https://www.econbiz.de/10012980894
We develop a parsimonious general equilibrium model where agents allocate time across three activities: production, trade, and leisure. Leisure includes time spent socializing, which economizes transaction costs. Our framework yields multiple equilibria in terms of the number of social ties and...
Persistent link: https://www.econbiz.de/10012707637