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long-run real income convergence and derive 67 comparable effect sizes. The precision-weighted estimate of beta convergence … is more consistent with endogenous self-reinforcing growth than with neoclassical convergence. Introducing a net … migration variable in a growth regression increases the estimate of beta convergence slightly. Studies that use panel models or …
Persistent link: https://www.econbiz.de/10010269575
Although it is well known that Markov process theory, frequently applied in the literature on income convergence …
Persistent link: https://www.econbiz.de/10011495597
This paper investigates the convergence behaviour of carbon dioxide emissions for 39 countries in the Americas from … 1960-2016. A linear regression test of convergence which looks for conditional sigma convergence is employed, and a … clustering algorithm is used to identify convergence clubs. The results show evidence of convergence in the region for the long …
Persistent link: https://www.econbiz.de/10014234252
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10011374345
This paper addresses the question of whether government procurement can work as a de facto innovation policy tool. We develop an endogenous growth model with quality-improving in-novation that incorporates industries with heterogeneous innovation sizes. Government de-mand in high-tech industries...
Persistent link: https://www.econbiz.de/10009271362
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10003747332
This article provides the first examination of the relationship between public expenditures and labor productivity that focuses on municipalities, rather than states or nations. We use data for 1880-1920, a period of rapid industrialization in which there were both high levels of public...
Persistent link: https://www.econbiz.de/10013099262
According to Frankel and Catao (2011), a commodity exporting developing economy is advised to target the output price index rather than consumer price index, as the former monetary policy is automatically countercyclical against the volatile terms of trade shock. This paper constructs a dynamic...
Persistent link: https://www.econbiz.de/10012978673
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10013058328
This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure spending bill in a neoclassical growth model. We add to the literature by considering a more detailed tax structure, different types of infrastructure spending and linkages between...
Persistent link: https://www.econbiz.de/10012801569