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The paper compares Feinstein`s and Clark`s consumer price and real wage indices for the British industrial revolution. The sources for their weights and component price series are evaluated. While some of Clark`s innovations are improvements, many of his changes degrade the price index. A new...
Persistent link: https://www.econbiz.de/10005090706
Empirical evidence has shown that exporters are more capital intensive than non-exporters. Based on this evidence, I construct a two-factor general equilibrium model with firm heterogeneity in factor intensities, monopolistic competition, scale economies and international trade. This setting can...
Persistent link: https://www.econbiz.de/10010730093
evidence that such a shift has happened, this overlooks the fact that inequality has also markedly risen between individuals …
Persistent link: https://www.econbiz.de/10005776513
This paper analyses the e¤ect of a resource discovery on an open economy with endogenous directed technical change. Technical progress depends on entrepreneurs who produce (or adopt) technology, and endogenously choose which sector to operate in. The static e¤ect of a resource discovery is de-...
Persistent link: https://www.econbiz.de/10010551672
indeterminate. After opening the borders, the rigid wage country may export indeterminacy to the full employment country …, particularly if it is big enough. In contrast, when the full employment country is sufficiently big, local indeterminacy, and … fluctuations (associated with local indeterminacy and bifurcations) are possible with smaller externalities, whatever the relative …
Persistent link: https://www.econbiz.de/10012497948
indeterminate. After opening the borders, the rigid wage country may export indeterminacy to the full employment country …, particularly if it is big enough. In contrast, when the full employment country is sufficiently big, local indeterminacy, and … fluctuations (associated with local indeterminacy and bifurcations) are possible with smaller externalities, whatever the relative …
Persistent link: https://www.econbiz.de/10012419065
imperfect capital markets and show that local indeterminacy always arises independently of the capital market regime. Also, we …
Persistent link: https://www.econbiz.de/10010856900
local indeterminacy emerges in the case of incomplete specialization under milder conditions compared with conventional …
Persistent link: https://www.econbiz.de/10008776851
shows that local indeterminacy always arises independently of the capital market regime. To study the dynamic implications …
Persistent link: https://www.econbiz.de/10011112431
function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …
Persistent link: https://www.econbiz.de/10011263592