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theory appears not to be a cumulative science so far. When attempts are done to settle controversies by "nature" (testing the … or non-identified when testing them. Two examples are provided, one in growth theory and testing convergence, one in … business cycles theory and testing inflation persistence. …
Persistent link: https://www.econbiz.de/10011597938
The present paper assesses the interactions between innovation and economic institutions within the context of the inequality-growth nexus. By carrying out fixed effects estimations on a cross-country panel, we find that both institutional quality and innovations improve economic growth at the...
Persistent link: https://www.econbiz.de/10014434530
In recent decades, the ASEAN economies have implemented a number of regional integration policies. Using a panel dataset of 10 ASEAN countries from 1980 to 2017, this study examines the productivity and efficiency of the ASEAN economies using a stochastic production frontier model. Furthermore,...
Persistent link: https://www.econbiz.de/10013179517
: informal sector is quantitatively significant and tax-collecting technologies are more rudimentary. We characterize competitive … determined, some workers can be hired in the informal market, and imperfect tax-collecting technology can be heterogeneous across … approximately (from 19 percent to 28 percent). As expected, the better the tax collecting technologies, the higher the corresponding …
Persistent link: https://www.econbiz.de/10011303820
annum) and only secondarily due to the accumulation of productive capital (2.7% annually). Simulations of tax cuts suggest … that income taxes and consumption taxes restrict economic growth equally heavily. Simultaneously reducing all tax rates by …
Persistent link: https://www.econbiz.de/10010414741
in public capital (6.0%) and secondarily due to the accumulation of private capital (2.1% annually). Simulations of tax … cuts suggest that a synchronized reduction of all tax rates by 5 percentage points (pp) in Poland should increase the …
Persistent link: https://www.econbiz.de/10012177134
One of the key determinants of potential growth are productivity gains. Total factor productivity (TFP) differences are the main determinant of per capita income differences between countries. A key factor to understand TFP is misallocation: the aggregate productivity loss from microeconomic...
Persistent link: https://www.econbiz.de/10011658836
There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...
Persistent link: https://www.econbiz.de/10011480254
This paper contributes to the productivity literature by using results from firm-level productivity studies to improve forecasts of macro-level productivity growth. The paper employs current research methods on estimating firm-level productivity to build times-series components that capture the...
Persistent link: https://www.econbiz.de/10011378362
The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However, the size of the estimated growth rate of total...
Persistent link: https://www.econbiz.de/10011477079