Narrow search
Showing 1 - 10 of 6,050
Cover Image
Stable balanced expansion in homogeneous dynamic models
Böhm, Volker - 2019 - Version: June 4, 2019
This paper examines the stability of balanced paths of expansion or contraction in closed macroeconomic models as … discussed. The appendix presents the mathematical tools and concepts to prove the stability of expanding/contracting paths in … international trade, or monetary macro, conditions of existence and stability are obtained applying the features of the non …
Persistent link: https://www.econbiz.de/10012011755
Cover Image
The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018 - Version: September 26, 2018
and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …
Persistent link: https://www.econbiz.de/10011903801
Cover Image
A multi-factor Uzawa growth theorem and endogenous capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2019 - This version: March 28, 2019
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem. In the two-factor case, the theorem implies that a neoclassical growth model cannot be simultaneously consistent with empirical evidence on both capital-augmenting technical change and the elasticity of...
Persistent link: https://www.econbiz.de/10012024717
Cover Image
A generalized Uzawa growth theorem and capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2022
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem. The theorem implies that neoclassical growth models need at least three factors of production to be consistent with empirical evidence on both the capital-labor elasticity of substitution and the existence of...
Persistent link: https://www.econbiz.de/10012880053
Cover Image
A generalized Uzawa growth theorem
Casey, Gregory; Horii, Ryo - 2023
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem, Balanced growth with capital-augmenting technical change is possible when capital has a unitary elasticity of substitution with at least one other factor of production, Thus, a neoclassical growth model with...
Persistent link: https://www.econbiz.de/10014451890
Cover Image
Endogenous capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2023
We construct a 3-factor, directed technical change growth model that ex-hibits capital-augmenting technical change on the balanced growth path (BGP), circumventing the issues usually caused by the 2-factor Uzawa growth theorem. We calibrate the model to the United States and consider a...
Persistent link: https://www.econbiz.de/10014451921
Cover Image
Ecology, economics, and network dynamics
Hastings, Harold M.; Young-Taft, Tai; Tsen, Chih-Jui - 2020
In a seminal 1972 paper, Robert M. May asked: "Will a Large Complex System Be Stable?" and argued that stability (of a … describe highlights in the development of our present understanding of stability and complexity in network systems, in order to …
Persistent link: https://www.econbiz.de/10012291950
Cover Image
Wage bargaining, employment, and union power : the right-to-manage approach
Böhm, Volker; Claas, Oliver - 2014
This paper analyzes the implications of right-to-manage wage bargaining between a producers' syndicate and a workers' union representing finite numbers of identical members in a monetary macroeconomic model of the AS-AD type with government activity. At given prices and price expectations,...
Persistent link: https://www.econbiz.de/10010239909
Cover Image
Price stability and debt sustainability under endogenous trend growth
Schmöller, Michaela; McClung, Nigel - 2024
This paper studies price stability and debt sustainability when the real rate exceeds trend growth (r > g) in a New …
Persistent link: https://www.econbiz.de/10014457581
Cover Image
Endogenous technology, scarring and fiscal policy
Schmöller, Michaela - 2022
This paper studies fiscal policy in a New Keynesian DSGE model with endogenous technology growth in which scarring can occur endogenously through hysteresis effects in TFP. Both demand- and supply-driven recessions can weaken investment in R&D and technology adoption, thus depressing the...
Persistent link: https://www.econbiz.de/10013463787