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Capital Accumulation, Vintage and Productivity: The Japanese Experience

Hagiwara, Taiji; Matsubayashi, Yoichi - Faculty of Economics, Kobe University - 2014

We empirically examine the relationship between capital accumulation and vintage as well as the productivity of … industries in Japan from 1980 to 2007. Based on the empirical analyses, we confirmed that vintage exerted a significant influence …, where strong vintage effects were observed in all industries. The rejuvenation of capital equipment during this period …

Persistent link: https://www.econbiz.de/10010775065

Cross-Border Equity Investment and the Business Cycle

Amdur, David - 2009

I present new evidence that gross foreign assets and liabilities in equity investments, measured at market value, are positively correlated over the business cycle in each of the Group of Seven industrialized countries (G7). The close comovement of assets and liabilities, in turn, reflects...

Persistent link: https://www.econbiz.de/10013154331

Decreasing marginal impatience and capital accumulation in a two-country world economy

Hirose, Ken-Ichi; Ikeda, Shinsuke - 2013

This research is the first to examine dynamic general equilibrium in a growing two-country economy under decreasing marginal impatience (DMI). The stability condition is shown to be more restrictive than in the case of an endowment economy and/or under increasing marginal impatience (IMI). By...

Persistent link: https://www.econbiz.de/10009786227

Decreasing marginal impatience and capital accumulation in a two-country world economy

Hirose, Ken-Ichi; Ikeda, Shinsuke - 2013

Persistent link: https://www.econbiz.de/10010332261

Convergence, capital accumulation and the nominal exchange rate

Benczúr, Péter; Kónya, István - Magyar Nemzeti Bank (MNB) - 2007

This paper develops a flexible price, two-sector nominal growth model, in order to study the role of the exchange rate regime in capital accumulation (convergence). We adopt a standard model of a small open economy with traded and nontraded goods, and enrich its structure with costly investment...

Persistent link: https://www.econbiz.de/10005562425

Convergence, capital accumulation and the nominal exchange rate

Benczúr, Péter; Kónya, István - 2007

Persistent link: https://www.econbiz.de/10010322424

Investment-Specific Technology Shocks and International Business Cycles : An Empirical Assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - 2014

In this paper, we first introduce investment-specific technology (IST) shocks into an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses several of the existing puzzles in the...

Persistent link: https://www.econbiz.de/10014048949

Current Accounts in the Long and Short Run

Kraay, Aart; Ventura, Jaume - 2003

Faced with income fluctuations, countries smooth their consumption by raising savings when income is high, and vice versa. How much of these savings do countries invest at home and abroad? In other words, what are the effects of fluctuations in savings on domestic investment and the current...

Persistent link: https://www.econbiz.de/10014115044

Why the Feldstein-Horioka “Puzzle” Remains Unsolved

Felipe, Jesus; Fullwiler, Scott; Yusoph, Al-Habbyel - 2022

This paper argues that the 40-year-old Feldstein-Horioka “puzzle” (i.e., in a regression of the domestic investment rate on the domestic saving rate, the estimated coefficient is significantly larger than expected in a world with high capital mobility) should have never been labeled as such....

Persistent link: https://www.econbiz.de/10014078601

Global Imbalances : In Midstream?

Blanchard, Olivier - 2010

Before the crisis, there were strong arguments for reducing global imbalances. As a result of the crisis, there have been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does this mean that imbalances are a problem of the past?...

Persistent link: https://www.econbiz.de/10013149670