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We introduce distributive justice into a simple model of growth and distribution. Two groups (‘classes’) of otherwise … supplies one unit of labour inelastically and desires a wage; and that the labour share impacts growth negatively in our ‘AK … conflict is resolved by the two positive and three normative criteria we consider. Thus, the macroeconomy (growth, factor …
Persistent link: https://www.econbiz.de/10012018292
&Dbased endogenous growth model with exhaustible natural resources, labour, and knowledge capital as inputs, the present paper addresses … material balance principles and relying too much on planner solutions to obtain long-term growth. By analysing a multi-sector R … this critique. We study transitional dynamics and the long-term growth path and identify conditions under which firms keep …
Persistent link: https://www.econbiz.de/10011753091
introduced by which society forces the economy to make a transition to cleaner production processes. We model this transition as … a change in "general purpose technology" and investigate how it interferes with economic growth driven by quality …-improvements. The model gives an explanation for the inverted U-shaped pollution-income relation found in empirical research for many …
Persistent link: https://www.econbiz.de/10011753107
-driven economic growth model with labor mobility and a demographic structure of overlapping generations. The model shows that there is …
Persistent link: https://www.econbiz.de/10011800301
, growth and regional inequality. We provide conditions for existence and uniqueness of a spatial equilibrium, and for the …. Narrowing the gap in knowledge spillovers across regions raises growth, and reduces regional inequality by making firms more …
Persistent link: https://www.econbiz.de/10011815844
distribution, growth and international specialization. The model is explored both for the steady-state properties and the …This paper explores the features of a dynamic multisectoral model which focuses on the relationship between income … transitory dynamics of integrated economies. Income inequality affects the patterns of growth and international specialization as …
Persistent link: https://www.econbiz.de/10012099860
Conventional econometric analysis using VEC suggests that there is a long-term relationship between nominal world GDP and nominal world exports. The analysis cannot say anything about the causal relationships between the levels of GDP and exports. But it says a lot about the rules governing the...
Persistent link: https://www.econbiz.de/10012100122
Growth models of the Dutch disease, such as those of Krugman (1987), Matsuyama (1992), Sachs and Warner (1995) and … Gylfason et al. (1999), explain why resource abundance may reduce growth. The literature, however, also raises a new question …: if the use of resource wealth hurts productivity growth, how should such wealth be optimally managed? This question forms …
Persistent link: https://www.econbiz.de/10012143606
This paper analyses the long-run effects of Estonia s 2000 Income Tax Act with a dynamic general equilibrium model … profits.Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 Income …
Persistent link: https://www.econbiz.de/10012148455
shows how labor markets and unemployment can be added into super-multiplier models to provide a comprehensive growth model …This paper links the super-multiplier to Keynesian macroeconomics, showing it to be the most Keynesian of growth … accumulation. Firms' decisions regarding capital accumulation coordinate demand and supply growth in goods markets. The paper then …
Persistent link: https://www.econbiz.de/10012154136