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In recent years, the role attached to the autonomous components of aggregate demand has attracted rising attention, as testified by the development of the Sraffian Supermulti plier model (SSM) and the attempts to include autonomous demand in the Neo-Kaleckian model. This paper reviews and...
Persistent link: https://www.econbiz.de/10011984077
Misallocation of human capital across sectors can have substantial negative implications for aggregate output. So far, the literature examining this type of labor misallocation has assumed a Cobb-Douglas production function. Our paper departs from this assumption and instead considers more...
Persistent link: https://www.econbiz.de/10014429346
The empirical growth literature has focused on capital accumulation but largely ignored productivity growth. To address … this imbalance, we propose a methodology for analyzing productivity convergence based on frontier production functions. We … importance of efficiency changes for economic growth. Using a sample of 26 OECD countries from 1965-90, we find convergence and …
Persistent link: https://www.econbiz.de/10010466016
This paper addresses the controversial issue of the direct and indirect effects of public R&D on growth. We look at six … variables of R&D-driven growth jointly for 14 OECD countries using methods of dynamic systems for panel data analysis: GDP …&D has positive long-run regression coefficients for direct effects on productivity and indirect ones via private R&D. Here …
Persistent link: https://www.econbiz.de/10015071017
a strong positive casual relationship between manufacturing productivity growth and output growth, due to static and …This study first provides an outline of Kaldor's growth model and then tests its relevance to the economic experience … manufacturing is the engine of economic growth, whereas the second proposition, also known as Verdoorn's law, asserts that there is …
Persistent link: https://www.econbiz.de/10010320573
In this work we update the reviews on endogenous growth theories, after two decades of theoretical and empirical … core topics studied in the growth econometric framework, namely, convergence, identification of growth determinants and … factors responsible for growth differences in the data, the primary focus of this paper is on the last two. We will review …
Persistent link: https://www.econbiz.de/10010298563
In this work the author updates the reviews on endogenous growth theories in order to explore whether recent empirical … studies have become more supportive of their main predictions. Among the core topics studied in the growth econometric … framework, namely convergence, identification of growth determinants and factors responsible for growth differences in the data …
Persistent link: https://www.econbiz.de/10010298621
. Following Baumol's cost disease hypothesis, (unexplained) productivity differentials between the industrial and service sectors … are often utilized to explain the recent dominance of the service sector. We hypothesize that the productivity … productivity and variables from our model representing the technological substitution conditions. Our findings support this …
Persistent link: https://www.econbiz.de/10010327363
prices on growth. In the short run, growth is hampered by increasing energy prices. In the long run, however, capital … inputs where growth increases with rising energy prices. In the empirical part, estimations using different channels and …, they can even be positive for growth. …
Persistent link: https://www.econbiz.de/10011753112
In this work the author updates the reviews on endogenous growth theories in order to explore whether recent empirical … studies have become more supportive of their main predictions. Among the core topics studied in the growth econometric … framework, namely convergence, identification of growth determinants and factors responsible for growth differences in the data …
Persistent link: https://www.econbiz.de/10003812708