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The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...
Persistent link: https://www.econbiz.de/10010510592
may be amplified by international competition. In countries with a larger distance to the technology frontier, however …
Persistent link: https://www.econbiz.de/10013244297
demand: the complementarity between technology and skilled and unskilled labor. Our results identify parameters that are …
Persistent link: https://www.econbiz.de/10013321167
puzzles, like the productivity paradox for example, a special emphasis is given to the analysis of deindustrialization and the …
Persistent link: https://www.econbiz.de/10011789200
demand: the complementarity between technology and skilled and unskilled labor. Our results identify parameters that are …
Persistent link: https://www.econbiz.de/10009781636
knowledge sector is bounded, as productivity increases, the economy moves from a "Solovian zone" where wages increase with … productivity, to a "Marxian" zone where the paradoxically decline with productivity. This is because as consumption of a given good … more unevenly distributed then productivity, technical progress always increases inequality. Redistribution from profits to …
Persistent link: https://www.econbiz.de/10011401020
This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per … capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the …
Persistent link: https://www.econbiz.de/10003897830
a panel of European countries over the period 1265-1850 using agricultural productivity as a measure of technology … agriculture, and provide evidence for technology-driven inequality in Britain between 1525 and 1895. We confirm these results for …. Finally, using patents in the period 1800-1980, we find a technology-driven inequality reversal around the onset of the …
Persistent link: https://www.econbiz.de/10012204880
, our theory predicts that faster economic growth promotes inequality. …
Persistent link: https://www.econbiz.de/10011620638
The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...
Persistent link: https://www.econbiz.de/10011790517