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We address intertemporal utility maximization under a general discount function that nests the exponential discounting and the quasi-hyperbolic discounting cases as particular specifi?cations. The suggested framework intends to capture one important anomaly typically found when addressing the...
Persistent link: https://www.econbiz.de/10010561321
In this work we empirically test optimum currency area theory regarding the efficiency of two usual stabilization mechanisms for members of a given monetary union (the United States): federal transfers and migration. The US is recognized as a country where labor mobility between states is high....
Persistent link: https://www.econbiz.de/10010561299
Social capital has recently been introduced in the economic literature as a growth factor. In this paper we study the interactions between social and human capital, and their contributions to economic growth in an endogenous growth model. In particular, we are interested in comparing the results...
Persistent link: https://www.econbiz.de/10010561302
Federal transfers in the USA comprises some components such as retirement and disability payments for individuals, other direct payments for individuals or organizations, grants, procurement contracts, and wages. It is recognized that one of the goals of federal transfers is to alleviate di¢...
Persistent link: https://www.econbiz.de/10010561309
Models of economic growth are typically based on the use of one or more stocks of productive assets to create goods for utility-generating consumption. The roles played by man-made capital, natural capital and human capital have been explored, often separately, in the literature, and more...
Persistent link: https://www.econbiz.de/10010561316
In this article we document the features of business cycles in German Länders from 1970 and 2007. Specifically, we answer the question if German Länders are becoming more synchronized or not. All results indicate that the synchronization of cycles is stronger inside the former Western Germany...
Persistent link: https://www.econbiz.de/10010561663
In this work we assess the existence of a S-Curve pattern in ten Central and Eastern European Countries (CEEC-10) for the relation between the trade balance and the terms of trade. Empirical results support the existence of this curve for Slovenia, Czech Republic, Hungary, and also for an...
Persistent link: https://www.econbiz.de/10010561664
Persistent link: https://www.econbiz.de/10010400992
Persistent link: https://www.econbiz.de/10010461146
: In this paper we study business cycle correlations in the Eurozone, and its determinants. Additionally, we also analyze the determinants of the lead and lag behavior of business cycles in the Eurozone. We explore the relevance, in the Eurozone context, of the determinants of business cycle...
Persistent link: https://www.econbiz.de/10011262828