Showing 1 - 10 of 10,993
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10001596279
Persistent link: https://www.econbiz.de/10001589906
Persistent link: https://www.econbiz.de/10001647235
The determinants of the direction of technical change and the implications for economic growth are studied in the one-sector neoclassical growth model of Ramsey (1928), Cass (1965), and Koopmans (1965) extended to allow for endogenous capital- and labor-augmenting technical change. For this...
Persistent link: https://www.econbiz.de/10010490615
The macroeconomic production function is a traditional key element of modern macroeconomics, as is the more recent knowledge production function which explains knowledge/patents by certain input factors such as research, foreign direct investment or international technology spillovers. This...
Persistent link: https://www.econbiz.de/10011452235
reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always … productivity, to a Marxian zone where they paradoxically decline with productivity. This is because as consumption of a given good … increases, the price elasticity of demand falls, and markups increase to infinity as consumption reaches the unit elasticity …
Persistent link: https://www.econbiz.de/10011398011
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10011401108
Dass die Erklärung von Langzeitarbeitslosigkeit ein überaus aktuelles Thema ist, zeigt der starke Anstieg der Langzeitarbeitslosigkeit in den Industrieländern seit Mitte der 70er Jahre. Die Erhöhung der Langzeitarbeitslosigkeit bei gleichzeitigem Wirtschaftswachstum - sowohl in einer...
Persistent link: https://www.econbiz.de/10011402136
Persistent link: https://www.econbiz.de/10011373657
The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a...
Persistent link: https://www.econbiz.de/10011404419