This paper explores the relationship between the quarterly values of the Romanian exports and of the Gross Domestic Product for the period 2007-2014, which was marked by the consequences of the adhesion to European Union and by the global crisis. In this analysis we employ cointegration tests,...

In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and R&D are costly and...

One of the most topical issues that have received extensive attention in economics to date centers on: what determines economic growth? Attempts at answering this question have spawned an avalanche of possible reasons as determinants, ranging from economic, social, political to institutional...

In the present paper, we are going to analyse the concept of economic growth as a factor in the revitalization of the knowledge-based society. Although the whole economic and human development occurred under the auspices of knowledge, making progress possible in all its aspects and...

Growth of the Korean economy has been sluggish, and this situation is more pronounced in the service sector. We argue that capital misallocation, especially in the service sector, could contribute to this slowdown. Utilizing firm and sectoral level data, first we assess the rising dispersion of...

We develop a model where temporary non-technology shocks can lead to permanent changes in the rate of growth of total factor productivity (TFP). The key ingredient of the model is a matching processes between basic researchers, product developers, and the stock of knowledge of the economy. In...

"creative destruction" refers to the way that economic advances make existeng economic capital ideas absolescent: thay are partially destroyed (in value term). Existing models have only considered how additions to economic knowledge make existing knowledge less valuable. This paper recognises...

This paper shows that growth models featuring the representative consumer (RC) assumption can generate rich dynamics for the cross- sections of consumption, wealth and income.

This paper aims to review the causes of internationalmigration and the potential impact of FTAs (Free TradeAgreements) on Latin American Migrations. Thefirst part describes the economic and non-economiccauses for migration. The second one shows the potentialimpact of FTAs in the economy (job...