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Chapter 3 Horizontal Innovation in the Theory of Growth and Development
Gancia, Gino; Zilibotti, Fabrizio - 2005
We analyze recent contributions to growth theory based on the model of expanding variety of Romer [Romer, P. (1990). “Endogenous technological change”. Journal of Political Economy 98, 71–102]. In the first part, we present different versions of the benchmark linear model with imperfect...
Persistent link: https://www.econbiz.de/10014023784
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Relative Income Traps
Arias, Maria - 2019
the United States remain constantly low and with no clear sign of convergence. This approach allows them to study the … issue of economic convergence (or lack of it) directly. The authors describe evidence pointing to the existence of both … regional levels. Finally, they point out challenges to the benchmark neoclassical growth theory, which predicts convergence to …
Persistent link: https://www.econbiz.de/10012903471
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The empirical economic growth literature
Florax, Raymond J. G. M.; Groot, Henri L. F. de; … - 2002
The empirical economic growth literature is criticized for its lack ofrobustness. For different definitions of robustness, conclusions vary from 'almost everycorrelation is fragile' to 'a substantial number of explanatory variables are robust.' Were-analyze the empirical results of the economic...
Persistent link: https://www.econbiz.de/10011326970
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Wage Inequality and the Contribution of Capital, Differential Labor Quality and Efficiency to Economic Growth in Korea, 1965-2007
Kwack, Sung Yeung - 2012
We show that skilled and unskilled labors are imperfect substitutes and that capital and skilled labor are complementary in production. The Korean economy has experienced skill-biased technical changes. The capital stock growth is found to be the main source of the economic growth. The...
Persistent link: https://www.econbiz.de/10013109245
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Redistributing income through hierarchy
Fix, Blair - 2021
Although the determinants of income are complex, the results are surprisingly uniform. To a first approximation, top incomes follow a power-law distribution, and the redistribution of income corresponds to a change in the power-law exponent. Given the messiness of the struggle for resources, why...
Persistent link: https://www.econbiz.de/10012650730
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Market Failures and Misallocation
Shenoy, Ajay - 2015
I develop a method to measure and separate the production misallocation caused by failures in factor markets versus financial markets. When I apply the method to rice farming villages in Thailand I find surprisingly little misallocation. Optimal reallocation would increase output in most...
Persistent link: https://www.econbiz.de/10013037374
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Investment-specific Technological Progress in Production Networks
Shirota, Toyoichiro - 2022
This paper argues that investment-specific technological progress (ISTP) conventionally identified with the relative price of investment, inevitably correlate with neutral technological progress in heterogeneous production networks. Consequently, the ISTP is an elusive concept to examine the...
Persistent link: https://www.econbiz.de/10014235511
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Welfare Convergence In Transition Economies
Matkovskaya, Veronika; Veselov, Dmitriy - 2022
This paper presents an analysis of the welfare convergence among 27 transition economies based on the evaluation of a …
Persistent link: https://www.econbiz.de/10013294677
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Human capital, the structure of production, and growth
Ciccone, Antonio; Papaioannou, Elias - 2006
Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more human capital should have adopted more rapidly the skilled-labor augmenting technologies becoming available since the 1970’s. High human capital levels should therefore have...
Persistent link: https://www.econbiz.de/10011604669
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Aid effectiveness and limited enforceable conditionality
Scholl, Almuth (contributor) - 2005
This paper analyzes optimal foreign aid policy in a neoclassical framework with a conflict of interest between the donor and the recipient government. Aid conditionality is modelled as a limited enforceable contract. We define conditional aid policy to be self-enforcing if, at any point in time,...
Persistent link: https://www.econbiz.de/10003324104