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Stable balanced expansion in homogeneous dynamic models

Böhm, Volker - 2019

This paper examines the stability of balanced paths of expansion or contraction in closed macroeconomic models as typical cases of homogeneous dynamical systems. Examples of known two-dimensional deterministic and stochastic models are discussed. The appendix presents the mathematical tools and...

Persistent link: https://www.econbiz.de/10012042156

Stagnant Wages, Sectoral Misallocation and Slowing Productivity Growth

Schmöller, Michaela - 2019

I propose a two-sector endogenous growth model with heterogeneous sectoral productivity and nonlinear hiring costs to analyse the link between sectoral resource allocation, low productivity growth and stagnant real wages. My results suggest that an upward shift in employment, triggered for...

Persistent link: https://www.econbiz.de/10012099160

Health Financing Mechanisms, Access to Health and Economic Growth

Bender, Katja - 2011

The paper analyzes the comparative effects of alternative health financing mechanisms on economic growth within a two-sector model with human capital. The transitional growth effects of a social insurance system are stronger than those of an out-of-pocket payment system. A private health...

Persistent link: https://www.econbiz.de/10011918480

On the interaction of growth, trade and international macroeconomics

Struck, Clemens C. - 2017

Standard economic theories have severe difficulties in simultaneously explaining a number of key aggregate empirical facts: i) there are substantial differences in capital-labor ratios across time ii) despite continuously increasing capital-labor ratios, both factors still earn non-negligible...

Persistent link: https://www.econbiz.de/10011928045

Distribution and Growth in an Economy with Limited Needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10010262477

Digital transformation and its impact on labour productivity: A multi-sector perspective

Falck, Elisabeth; Röhe, Oke; Strobel, Johannes - 2024

In recent years, there has been a controversial debate on how the rapid diffusion of digital technologies affects labour productivity in advanced economies. Using a multi-sector dynamic general equilibrium model, we show that cumulative labour productivity growth in the United States, Germany...

Persistent link: https://www.econbiz.de/10014633231

Endogenous sigma-augmenting technological change: An R&D-based approach

Kemnitz, Alexander; Knoblach, Michael - 2020

There is now increasing evidence that for the U.S. economy, the elasticity of substitution between capital and labor, "sigma", is rising over time. To account for this, we propose a microfounded model, where the evolution of "sigma", and, hence, the shape of the aggregate production function...

Persistent link: https://www.econbiz.de/10012267196

Endogenous growth, downward wage rigidity and optimal inflation

Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2021

-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … hysteresis effects on unemployment and output. Price level targeting or a Taylor-rule responding to the unemployment rate can …

Persistent link: https://www.econbiz.de/10012819049

Labour market skills, endogenous productivity and business cycles

Abbritti, Mirko; Consolo, Agostino - 2022

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … unemployment are affected differently across skill types. Also, the model generates sideward shifts of the Beveridge curve …

Persistent link: https://www.econbiz.de/10013272142

The COVID-19 crisis and counter-cyclical policies in Brazil

Tavani, Daniele - In: European Journal of Economics and Economic Policies: … 18 (2021) 2, pp. 198-206

This paper considers both secular and medium-run trends to argue that the US economy was already vulnerable to shocks before the COVID-19 crisis. Long-run trends have shown a pattern of secular stagnation and increasing inequality since the 1980s, while the economy has displayed hysteresis...

Persistent link: https://www.econbiz.de/10014363416