This paper tests a geography and growth model using regional data for Europe, the US, and Japan. We set up a standard … geography and growth model with a poverty trap and derive a log-linearized growth equation that corresponds directly to a …

In a simplified model GDP growth depends on the demand effect of private investment growth and on the growth of the … budget deficit (D), their sum being termed NPCE (Non-Private-Consumption-Expenditures). Hence GDP growth depends, in the … generalized case, on the demand effect of NPCE growth and on changes in the private savings ratio. In the present paper the term …

This paper uses a modi.ed Harrodian model to understand both the long period of rapid Japanese growth and the recent … period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government … intervention, we argue, took the Japanese economy onto a high-growth trajectory. Labour constraints began to appear around 1970 …