What is a good reduced-form representation of Ramsey-Cass-Koopmans. (RCK) model? Solow's model (despite non …-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK …

consequences. The analysis shows that typically, traded sectors have experienced low productivity growth over the past decade …, while skill intensive service sectors have had significant productivity growth. This is the inverse of the traditional …

While it is often argued that exchange rate depreciation has a beggar-thy-neighbour effect, in this paper, we … investigate, whether exchange rate depreciation has a beggarthyself effect. Specifically, we explore the distributional … currency. Using the local projections (LP) approach, we find that managed depreciation shocks decrease income inequality. We …

This paper contributes to the debate on income growth and distribution from a nonmainstream perspective. It looks, in … particular, at the role that the degree of capacity utilization plays in the process of growth of an economy that is not … depreciation is an increasing function of the degree of capacity utilization. This hypothesis implies analytical results that …