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Revisiting growth accounting from a trade in value-added perspective

Escaith, Hubert - 2016 - Manuscript date: 24 February 2016

Global Manufacturing and International Supply Chains changed the way trade and international economics are understood today. The present essay builds on recent statistical advances to suggest new ways of looking at the demand and supply side approaches when Global Value Chains (GVCs) -...

Persistent link: https://www.econbiz.de/10011435987

Higher education and the fall and rise of inequality

Prettner, Klaus; Schaefer, Andreas - 2016

We investigate the effect of higher education on the evolution of inequality. In so doing we propose a novel … initial phase in which no social class invests in higher education of their children, such that the evolution of inequality is … education of their children, which partially crowds out bequests and thereby reduces inequality in the short run. The better …

Persistent link: https://www.econbiz.de/10011439186

Growth and distribution in low income economies : modifying post Keynesian analysis in light of theory and history

Razmi, Arslan - 2015

Growth in low-income developing economies with large sectors charac- terized by underemployment is unlikely to be wage-led in the traditional neo-Kaleckian sense of the term. Output and employment in the sectors of the economy producing non-tradable output could be demand-led, how- ever, and...

Persistent link: https://www.econbiz.de/10011522170

The implications of automation for economic growth and the labor share of income

Prettner, Klaus - 2016

We introduce automation into the standard Solovian model of capital accumulation and show that (i) there is the possibility of perpetual growth, even in the absence of technological progress; (ii) the long-run economic growth rate declines with population growth, which is consistent with the...

Persistent link: https://www.econbiz.de/10011458839

Economic growth and convergence during the transition to production using automation capital

Dujava, Daniel; Lábaj, Martin - 2019

This paper examines the implications of automation capital in a Solow growth model with two types of labour. We study the transition from standard production to production using automation capital which substitutes low-skilled workers. We assume that despite advances in technology, AI and...

Persistent link: https://www.econbiz.de/10012125628

Automation, economic growth, and the labor share - a comment on Prettner (2019)

Heer, Burkhard; Irmen, Andreas - 2019 - This Version: June 24, 2019

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...

Persistent link: https://www.econbiz.de/10012031062

Is planet earth as a whole likely to be wage-led?

Razmi, Arslan - 2017

Evidence regarding the relationship between distribution, demand, and growth in the short run has been mixed. Open economy models that create the possibility of "beggar-thy-neighbor" growth offer one theoretical explanation for why this may be expected. Several authors have argued recently,...

Persistent link: https://www.econbiz.de/10011638343

The implications of automation for economic growth and the labor share

Prettner, Klaus - 2016

We introduce automation into a standard model of capital accumulation and show that (i) there is the possibility of perpetual growth, even in the absence of technological progress; (ii) the long-run economic growth rate declines with population growth, which is consistent with the available...

Persistent link: https://www.econbiz.de/10011555095

Ramsey model of barriers to growth and skill-biased income distribution in South Africa

Rattsø, Jørn; Stokke, Hildegunn Ekroll - 2005

The paper integrates two mechanisms of economic growth, barriers to international spillovers and skill - biased effects on the income distribution. South Africa is an interestin g case study because of dramatic changes in international barriers over time and policy focus to productivity and...

Persistent link: https://www.econbiz.de/10011533511

The role of material/energy resources and dematerialisation in economic growth theories

Ayres, Robert U.; Bergh, Jeroen C. J. M. van den - 2000

The nature of energy and material resources in an endogenous growththeory framework is clarified. This involves three modifications of the conventional theory. Firstly, multiple feedback mechanisms or "growth engines" are identified. Secondly, a productionfunction distinguishesbetween resource...

Persistent link: https://www.econbiz.de/10011303864