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In this paper, we attempt to derive and test the role of energy prices on economic growth. We first developed a two-sector endogenous growth model, based on Rebelo (1991). We modified the model such that consumption goods sector uses energy as an input along with capital. The model allows us to...
Persistent link: https://www.econbiz.de/10011807219
Persistent link: https://www.econbiz.de/10011807573
This paper investigates the relationship between capital account openness and inflation since the 1980s. It argues that widespread capital account liberalization during the last two decades appears to have contributed to the worldwide disinflation observed during the same period. The paper...
Persistent link: https://www.econbiz.de/10011807598
Most of the existing literature has used single reserve adequacy measures to evaluate the volume of excess reserves. In this paper, we employ empirical methods to generate a comprehensive reserve adequacy measure, incorporating the various objectives of holding reserves, and compare the actual...
Persistent link: https://www.econbiz.de/10011807612
The positive association between the service sector share of output and per capita income is one of the best-known regularities in all of growth and development economics. Yet there is less than complete agreement on the nature of that association. Here we identify two waves of service sector...
Persistent link: https://www.econbiz.de/10011807641
This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on stocks and derivatives, currency transactions, and tangible property. Most of the discussion...
Persistent link: https://www.econbiz.de/10011807660
When President Trump came into office the US administration launched a detailed analysis of American trade relations. It aimed to identify "unfair trade practices" that are supposedly increasingly being used by other countries, and that are economically damaging to America. This study simulates...
Persistent link: https://www.econbiz.de/10011815688
der Atmosphäre. Die globale Klimaerwärmung bringt massive Folgen mit sich, die bereits heute in Teilen der Welt spürbar …
Persistent link: https://www.econbiz.de/10010308407
Die Einkommensverteilung innerhalb der verschiedenen Länder der Welt weist enorme Unterschiede auf. Diese Form der … Schichtungsmuster herausgearbeitet werden, die in verschiedenen Regionen und Kulturen der Welt entwickelt worden sind. Dabei werden drei …Income inequality differs tremendously across the countries of the world. It remains central even in the age of …
Persistent link: https://www.econbiz.de/10010308442
Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by …
Persistent link: https://www.econbiz.de/10010308558