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Catching-up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits
Égert, Balázs - 2010
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel’s Law may hold during …
Persistent link: https://www.econbiz.de/10012444720
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Catching-Up and Inflation in Europe : Balassa-Samuelson, Engel’s Law and Other Culprits
Égert, Balázs - 2012
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel’s Law may hold during …
Persistent link: https://www.econbiz.de/10014171842
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Catching-Up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits
Égert, Balázs - 2013
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel's Law may hold during …
Persistent link: https://www.econbiz.de/10013094566
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Solow or Lucas? : testing speed of convergence on a panel of OECD countries
Arnold, Jens Matthias; Bassanini, Andrea; Scarpetta, Stefano - 2010
We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and...
Persistent link: https://www.econbiz.de/10009154581
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Solow or Lucas? Testing Speed of Convergence on a Panel of OECD Countries
Arnold, Jens Matthias - 2010
We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and...
Persistent link: https://www.econbiz.de/10013136719
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A Note on Economic Growth with Subsistence Consumption
Strulik, Holger - 2008
It is well known that the performance of simple models of economic growth improves substantially through the introduction of subsistence consumption. How to compute subsistence needs, however, is a difficult and controversially discussed issue. Here, I reconsider the linear (Ak) growth model...
Persistent link: https://www.econbiz.de/10012723271
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Paths of Development for Early- and Late-Bloomers in a Dynamic Heckscher-Ohlin Model
Atkeson, Andrew - 2008
We show that in a dynamic Heckscher-Ohlin model the timing of a country's development relative to the rest of the world affects the path of the country's development. A country that begins the development process later than most of the rest of the world-a late-bloomer-ends up with a permanently...
Persistent link: https://www.econbiz.de/10012770684
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Solow or Lucas?: Testing Growth Models Using Panel Data from OECD Countries
Arnold, Jens - 2007
In this paper, we test whether the growth experience of a sample of OECD countries over the past three decades is more consistent with the human-capital augmented Solow model of exogenous growth, or with an endogenous growth model à la Uzawa-Lucas with constant returns to scale to “broad”...
Persistent link: https://www.econbiz.de/10012446905
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Interest premium and economic growth: the case of CEE
Baksa, Dániel; Kónya, István - 2017
This paper views the growth and convergence process of the four Visegrad economies - the Czech Republic, Hungary, Poland and Slovakia - through the lens of the open economy, stochastic neoclassical growth model. We use a unified framework to understand both the long-run convergence path and...
Persistent link: https://www.econbiz.de/10011686350
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Solow or Lucas? : Testing Growth Models Using Panel Data from OECD Countries
Arnold, Jens Matthias; Bassanini, Andrea; Scarpetta, Stefano - 2008
In this paper, we test whether the growth experience of a sample of OECD countries over the past three decades is more consistent with the human-capital augmented Solow model of exogenous growth, or with an endogenous growth model à la Uzawa-Lucas with constant returns to scale to broad (human...
Persistent link: https://www.econbiz.de/10014220199