Showing 1 - 10 of 2,806
Concave hiring rules imply that firms respond more to bad shocks than to good shocks. They provide a unified explanation for several seemingly unrelated facts about employment growth in macro and micro data. In particular, they generate countercyclical movement in both aggregate conditional...
Persistent link: https://www.econbiz.de/10011637667
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...
Persistent link: https://www.econbiz.de/10013503368
This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute to income inequality. Those explanations are contrasted with a structural Keynesian explanation. The role of income inequality differs substantially, giving rise to different...
Persistent link: https://www.econbiz.de/10010526792
Economic theory is prone to hysteresis. Once an idea is adopted, it is difficult to change. In the 1970s, the economics profession abandoned the Keynesian Phillips curve and adopted Milton Friedman's natural rate of unemployment (NRU) hypothesis. The shift was facilitated by a series of lucky...
Persistent link: https://www.econbiz.de/10011926941
Ex-post economic impact evaluations are standard requirements for loans and grants from multilateral international development institutions. In many cases, however, lack of sufficient baseline or historical data, or the very nature of the investment itself renders orthodox economic impact...
Persistent link: https://www.econbiz.de/10011545433
Based on the gravity model, this paper analyzes China and South Korea's tourism patterns. Using a panel data set of … China's international tourism flows from 32 countries for 1995-2012, and Korea's international tourism flows from 152 …
Persistent link: https://www.econbiz.de/10011480861
Tourism has long been important part of the economy. Specifically, it serves as a kind of resource that performs a … significant role in national economies. With the rise of globalization, cross-border tourism has grown and induced intense … domestic tax serves as the source of funding for the improvements to the infrastructure of domestic tourism, including the …
Persistent link: https://www.econbiz.de/10011482449
tourism industry as part of their regional development policies. The main objective of these programs is to increase local … investment and employment, as tourism activities are labor intensive. Little evidence is available, however, to assess the effect … introduced in 2002 to develop the tourism industry in the undeveloped region of Northeast Brazil. It provides evidence that …
Persistent link: https://www.econbiz.de/10011485096
This paper analyses the impact of Rural Development Program (RDP) measures focusing on tourism have on the growth of … tourism and on the economy in rural areas. We first explored tourism in NUT2 regions in the EU with a spatial data analyses … and then we applied spatial econometric analyses on tourism where we take into account the RDP spending on the measures …
Persistent link: https://www.econbiz.de/10011507854
adversely affected by geographical discontinuity and they should focus on specific activities. Tourism is such an activity for … which geographical discontinuity is not a barrier, but on the contrary it may be an advantage. Hence, tourism may act as a … driving force for the development of isolated regions. On the basis of the above, a region may become a competitive tourism …
Persistent link: https://www.econbiz.de/10011523794