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Does financial development affect economic growth through its impact on the accumulation of capital inputs or by boosting total factor productivity growth? We use a new data set on output, physical, and human capital inputs for the U.S. states to study this question. Unlike previous...
Persistent link: https://www.econbiz.de/10012869342
Robert Solow (1958) argued that, from 1929-1954, U.S. aggregate labor's share was not stable relative to what we would expect given individual industry labor's shares. I confirm and extend this result using data from 1958-1996 that includes 35 industries (roughly 2-digit SIC level) and spans the...
Persistent link: https://www.econbiz.de/10014067450
differences in (short-term) GDP fluctuations between origin countries and U.S. states, and perhaps to (long-term) trend GDP … differences as well. More specifically, short-run GDP fluctuations pull less-educated male immigrants into certain U.S. states …, whereas GDP trends push less-educated male immigrants out of their countries of origin. Effects for less-educated women are …
Persistent link: https://www.econbiz.de/10010286878
An imperative need has arisen to provide a Constructive push to the President Bush. American population, Corporate units, Expatriates and all nations with their currency related to US $, are not happy in the current $ dipping situation. Even the currencies of poor nations are galloping upward in...
Persistent link: https://www.econbiz.de/10005556940
We explore the relationship between input-output accounts and the national revenue function. The generalized inverse of an economy's technology matrix carries information relating changes in endowments with changes in outputs; its transpose relates output prices and factor prices. Our primary...
Persistent link: https://www.econbiz.de/10010264358
The measurement of bank output, a difficult and contentious issue, has become even more important in the aftermath of the devastating financial crisis of recent years. In this paper, we argue that models of banks as processors of information and transactions imply a quantity measure of bank...
Persistent link: https://www.econbiz.de/10010280912
that between 1997 and 2007, in the U.S. National Accounts, on average, bank output is overestimated by 21 percent and GDP …
Persistent link: https://www.econbiz.de/10010280964
the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998 … private sector spent, in 2004, about £127bn on intangibles, which is about 11% of UK GDP. The implied investment figure is … around £116bn (10% of GDP) which is about equal to UK investment in tangible assets. Of the £127bn expenditure, (in …
Persistent link: https://www.econbiz.de/10010284183
as intermediate consumption. Thus they do not count as either GDP or investment. We ask how treating such spending as …
Persistent link: https://www.econbiz.de/10010284188
that between 1997 and 2007, in the U.S. National Accounts, on average, bank output is overestimated by 21 percent and GDP …
Persistent link: https://www.econbiz.de/10003779074