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The paper addresses a topical issue - how expansionary fiscal policy affects the debt to GDP ratio. It examines whether the projected future economic growth (stimulated by government spending) is sustained with the resulting national debt. It is discussedif government investment in...
Persistent link: https://www.econbiz.de/10010346737
hence in the U.S. price of gasoline after June 2014. Our analysis suggests that this decline produced a cumulative stimulus … investment and an additional stimulus of 0.04 percentage points reflecting a shrinking petroleum trade deficit. This stimulating … effect, however, has been largely offset by a large reduction in real investment by the oil sector. Hence, the net stimulus …
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generate a stronger growth response from its R&D spending. Possible explanations for the US advantage include higher private …
Persistent link: https://www.econbiz.de/10010512534
An important question in development studies is how abundance of natural resources affects long-term economic growth. No consensus answer, however, has yet emerged, with approximately 40% of empirical papers finding a negative effect, 40% finding no effect, and 20% finding a positive effect....
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The topic of convergence is at the heart of a wide-ranging debate in the growth literature. Empirical studies of convergence differ widely in their theoretical backgrounds, empirical specifications and in their treatment of cross-sectional heterogeneity. Despite these differences, a rate of...
Persistent link: https://www.econbiz.de/10011342545
In recent years there has been a growing interest in the impact of inequality on economic growth. Both theoretical and empirical approaches have produced ambiguous results on sign and size of this relationship. Although there is a considerable part of the literature that considers inequality...
Persistent link: https://www.econbiz.de/10011349190