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, thus, endogenous. Conditioning on factor accumu- lation in growth regressions that also include endogenous policy variables … may then be problematic. When policy is endogenous the measured ef- fects of policy on growth will generally be biased …- cal viewpoint. The paper argues that regressing growth on policy may still yield important information if policy …
Persistent link: https://www.econbiz.de/10010266867
Using the model proposed in Krugman and Taylor's "Contractionary effects of devaluation" (1978), we examine what macroeconomic effects of shocks to foreign prices. We show that these shocks can be contractionary for two reasons: (i) because they imply a loss of income if an economy has a trade...
Persistent link: https://www.econbiz.de/10014331852
This paper examines whether growth regressions should incorporate dualism and structural change. If there is a … factor productivity. The paper develops empirical growth models that allow for this effect in a more flexible way than … labour can explain a significant fraction of the international variation in TFP growth. …
Persistent link: https://www.econbiz.de/10010261270
only successful in promoting a new type of firm that otherwise might not exist, but in transforming the sources of growth …
Persistent link: https://www.econbiz.de/10010261491
China has achieved impressive growth over the last three decades. However, there has been debate over the sources of … the growth, and the role of the intensive versus extensive margin. Growth accounting exercises at the aggregate level … have been doubts about the contribution of TFP improvements to growth. For the period between 1978 and 1998, Young (2003 …
Persistent link: https://www.econbiz.de/10010269571
The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
Persistent link: https://www.econbiz.de/10010270563
We obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these … long run growth rates, and; (ii) any policies that can raise national growth rates must be international in scope. The … results therefore have bleak implications for the ability of countries to affect their long run growth rates. …
Persistent link: https://www.econbiz.de/10010318375
Recent research has revealed enormous variation in performance and growth among firms, which both drives and is driven …
Persistent link: https://www.econbiz.de/10011417130
large current account deficit or rise in inflation or interest rates, a rising inflow of external capital, accompanied by …
Persistent link: https://www.econbiz.de/10011520530
partly to the redistributive effect of education spending. In the model income inequality and growth depend in an inverted U … requires more resources, which lowers pre-tax and post-tax income inequality as well as growth. Using consistently defined … income data from the Luxembourg Income Study suggests that there is a negative relationship between growth and income …
Persistent link: https://www.econbiz.de/10011409838