Download or read book Growth with Unused Capacity and Endogenous Capital Depreciation written by Fabrizio Patriarca and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper contributes to the debate on growth and distribution in a non-mainstream perspective. It looks at the role that capacity utilization plays in the process of growth under the hypothesis that the rate of capital depreciation is a function of the degree of capacity utilization. Our hypothesis implies results partly different from those obtained by other models in which capacity utilization plays a key role. In particular, a varying rate of depreciation affects the conditions under which distributional changes in favor of wages affect the rate of growth positively.
Download or read book Growth with Unused Capacity and Endogenous Depreciation written by Patriarca Fabrizio and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Endogenous Growth Capital Utilization and Depreciation written by J. Aznar-Marquez and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Endogenous Growth Capital Utilization and Depreciation written by Juana Aznar Márquez and published by . This book was released on 2004 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Revisiting Capital Accumulation written by Adeliada Mehmetaj and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three chapters that look at the business cycle and productivity implications of relaxing certain assumptions regarding capital accumulation. In the first chapter, I introduce capital search frictions into an otherwise standard Real Business Cycle model. New and used capital markets are separate and used capital reallocation is subject to search frictions. The model produces the desired property of procyclical reallocation of used capital in equilibrium in line with business cycle data facts. The second chapter relaxes the assumption that capital depreciation is exogenous, to study the implications of such an assumption on productivity growth. In a Dynamic Stochastic General Equilibrium model where capital depreciation varies with the rate of technological innovation, the model finds that failure to account for depreciation's endogenous response to technological changes, only biases productivity measures when the economy is switching regimes. Along the Balanced Growth Path, when the rate of technological innovation is fixed, the econometrician who computes Total Factor Productivity from standard growth accounting, using capital stock with constant depreciation, will exactly pin down true productivity. The model is then used to study two main episodes of productivity slowdown in the US, the slowdown of the early 1970s and that of the mid 2000s. As the economy switches from a higher to a lower growth rate of technology in the early 1970s, failure to account for endogenous capital depreciation overestimates the slowdown by approximately 15%, while the opposite is true in the mid 2000s. As the economy switches from a higher to a lower growth rate of technology, the true slowdown is underestimated by approximately 5% when capital depreciation is kept constant. The third chapter proposes two approximations of the non-recursive, infinite horizon model of endogenous depreciation used in the second chapter, otherwise known as the Putty-Clay model, in order to implement and solve the model in Dynare. The first approximation is based on the assumption that it takes a capital vintage a certain number of periods to fully depreciate. This assumption takes care of the infinite horizon problem and the contribution of the paper is to show how to automatize and solve this non-recursive model in Dynare using its first-order perturbation methods. The second method proposes approximating the non-recursive equilibrium equations through a time-series process of lag one that preserves the dynamics of the putty-clay model. While the first method automatizes the non-recursive model in Dynare for any general number of periods, it is computationally expensive, which matters for estimation. The recursive approximation method can resolve this issue by reducing the state-space of the model.
Download or read book Endogenous Growth Depreciation Rates and Technological Progress written by Fernando Luis Lugo-Camacho and published by . This book was released on 2001 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit Markets and Stagnation in an Endogenous Growth Model written by Mr.Jose De Gregorio and published by International Monetary Fund. This book was released on 1993-09-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects that the inability of individuals to borrow against future income has on economic growth. The model assumes that human capital, which is accumulated through education, is the only factor of production. It is shown that liquidity constraints reduce growth. Further, in the presence of externalities that may induce two equilibria, it is shown that liquidity constraints not only reduce the rate of growth in the high-growth equilibrium, but can also make the low-growth equilibrium more likely to occur.
Download or read book Cycles Growth and Structural Change written by Lionello F Punzo and published by Routledge. This book was released on 2003-09-02 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.
Download or read book Economic Growth second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Download or read book Capital Utilization written by Roger R. Betancourt and published by Cambridge University Press. This book was released on 1981-06-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the theory of capital utilization, a discussion of the econometrics of capital utilization, and econometric tests of the theory using international data. Capital utilization, defined as the proportion of time that capital is working productively, is mainly affected by shift-working. Capital utilization is an important economic variable that has received serious attention from economists only since the mid-1960s In the first part, the authors provide a synthesis of current knowledge, combining a consistent statement of existing theory with some major extensions. In the second part, they turn to the econometrics, first discussing the appropriate methodology and then testing the theory on data from several countries. This empirical work is considerably more sophisticated than previous studies on this topic. Having established the theory and tested it, they move on to consider policy, the relationship between capital utilization and economic growth, and the place of shift-work in the dual economy.
Download or read book PELPS III a Microcomputer Price Endogenous Linear Programming System for Economic Modeling written by Dali Zhang and published by . This book was released on 1993 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Issues in Contemporary Macroeconomics and Distribution written by George R. Feiwel and published by State University of New York Press. This book was released on 1985-06-30 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book and its companion volume, Issues in Contemporary Microeconomics and Welfare, capture and convey the spirit, fundamental issues, underlying tensions, rich variety, accomplishments, and failures in contemporary economics. It presents economics as a dynamic subject, showing its strengths and limitations, exploring alternative approaches, and tracing the sources of differences. The essays include original contributions by the theorists themselves; major interpretations, reflections, and assessments by leading economists, and evaluations of particular areas by rising young scholars.
Download or read book Quantitative Aspects of Post War European Economic Growth written by Bart van Ark and published by Cambridge University Press. This book was released on 1996 with total page 447 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quantitative account of European growth since 1950 which combines historical and economic expertise.
Download or read book The Economics of Growth written by Philippe Aghion and published by MIT Press. This book was released on 2024-09-17 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies—analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy—and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
Download or read book The New Development Economics written by Jomo K.S. and published by Zed Books. This book was released on 2006 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a critique of the post-Washington Concensus in neoliberal economics.
Download or read book Forecasts of the Economic Growth in OECD Countries and Central and Eastern European Countries for the Period 2000 2040 written by NOBE (Firm) and published by United Nations Publications. This book was released on 2002 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study contains projections for the economic development of 22 high-income OECD countries and 22 central and eastern European countries for the years 2000-2040, as input to the European forest sector outlook studies (EFSOS) programme.
Download or read book Survey of Current Business written by and published by . This book was released on 1997 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt:
