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During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...
Persistent link: https://www.econbiz.de/10011873794
utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution … growth rate of demand that matters, not the level of demand.The paper makes three contributions. First, following up on …
Persistent link: https://www.econbiz.de/10012208160
Building on a Kaleckian-structuralist macroeconomic growth model this paper examines the impact of the interaction … between labor market gender equality and social reproduction (SR) or care provisioning, on economic growth across U.S. states … relationship between women's labor force participation rate (WLFPR) and state's per-capita growth rate across these regimes. The …
Persistent link: https://www.econbiz.de/10014483502
We use data on wages and rents in different U.S. cities to assess the amenity effects on production and consumption of cultural diversity as measured by diversity of countries of birth of city residents. We show that US-born citizens living in metropolitan areas where the share of foreign-born...
Persistent link: https://www.econbiz.de/10011324913
We investigate the existence of wage premium due to cultural diversity across US cities. Using census data from 1970 to 1990, we find that at the urban level richer diversity is systematically associated with higher average nominal wages for white US-born males. We measure cultural diversity in...
Persistent link: https://www.econbiz.de/10011324967
In an empirical analysis, considering 236 U.S. cities in the period 1980-1990, we document a strong positive correlation between local supply of skills and their return. In SMSA's where the average education of workers is high the education premium is also high. This is true both considering the...
Persistent link: https://www.econbiz.de/10011608415
Persistent link: https://www.econbiz.de/10012014956
Persistent link: https://www.econbiz.de/10012016352
declines. In this paper, we examine whether faster growth in the Hispanic population is linked to faster growth in income per … capita in rural areas and small towns. Our results indicate strong support for the hypothesis that Hispanic population growth … has fueled increased economic growth in those small, rural communities whose populations had been in decline during the …
Persistent link: https://www.econbiz.de/10010269600
We provide evidence that the robust association between cognitive skills and economic growth reflects a causal effect … sensitivity analyses of cross-country growth regressions generate remarkably stable results across specifications, time periods …, and country samples. In addressing causality, we find, first, significant growth effects of cognitive skills when …
Persistent link: https://www.econbiz.de/10010274159