Download or read book Essays on endogenous economic policy written by Isidoro Adolfo Mazza and published by Rozenberg Publishers. This book was released on 2009 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Endogenous Growth Theory written by Lill Thanning Hansen and published by . This book was released on 1998 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Growth and Economic Development written by P. Arestis and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . this volume is a very good and important addition to economic growth and development. On the basis of authority, the selection is well-balanced. . . This book should be a mandatory textbook for graduate students in development economics, and essential reading for all policy-makers. Voxi Heinrich Amavilah, Progress in Development Studies This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole. From his early pioneering research in regional and labour economics to his more recent exploration of growth and development economics, leading experts in the field bear witness to the significant role he has played in the evolution of the discipline. In addressing some of the most pivotal aspects of his career, the contributors cover a range of topics including Thirlwall s Law , the application of Keynesian macroeconomic approaches, the General Theory within open economies, the connection between short-run cycles and long-run growth, endogenous growth theory, the Stability and Growth Pact, as well as broader development issues and problems. In championing Thirlwall s challenging work, this volume provides a lively and comprehensive account of some of the most important areas of economics today. This book will prove an essential read for academics and policy makers alike who are interested in trade, growth and development economics.

Download or read book Three Essays on Endogenous Growth and the Environment written by Elamin H. Elbasha and published by . This book was released on 1996 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Trade Growth and Economic Policy in Open Economies written by Karl-Josef Koch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.

Download or read book Three Essays on the Endogenous Growth of a Regional Economy Under the Impacts of Demographic Changes written by Tae-Jeong Kim and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of an ageing population on the economy is one of the key issues in most developed countries. It is a generally accepted notion that an ageing population could cause negative effects, including a decrease of per-capita output and economic welfare, on the economy mainly due to the decline of the labor force and aggregate saving rate. The first chapter adopts the two-sector overlapping generation (OLG) model to capture the impact of population ageing on the regional economy and compares the effectiveness of government policy in an endogenous growth perspective. Comparing the computational results of a one-sector OLG model where agent0́9s productivity is given exogenously, the simulation result confirms that endogenously determined investment in human capital significantly offsets the negative effects of the ageing population on the regional economy. The chapter also attempts to check if there is room for the government to weaken and prevent the negative effects of the ageing population. For this, this chapter examines the effects of two kinds of government transfer systems on the regional economy: money transfer and educational transfer systems. The money transfer, which is redistributed to agents by the government, could be used for an individual0́9s consumption, saving and educational investment. Educational transfer is given directly to the individual proportional to his or her opportunity cost stemming from education investment. The result shows that the educational transfer system is superior to money transfer system in the long-run in terms of growth of per-capita income, aggregate welfare and stabilizing the factor prices. However, the results imply that there exists a trade-off relationship in implementing an educational transfer system between economic growth and equity of income and wealth. The second chapter seeks to examine the effects of the ageing population in Illinois with inclusion of the household0́9s ex-ante intra-generational heterogeneity across race and migration status. For this, this chapter empirically shows that there are significant gaps in returns to education between race and migration status in Illinois; and there exists significant relationships between a resident0́9s demographics and the probability of in- and out- migration around Illinois. These empirical results, including heterogeneous properties across race and migration status and demographic- related migration tendency, are calibrated into the two-sector OLG model. Using this two-sector OLG model incorporated with the intra-generational heterogeneity over race and migration status, this chapter projects the economic growth of Illinois will decelerate substantially until the mid 2020s due to population ageing. After that time, the growth of Illinois will partially recover. The major economic problems of the ageing era stem from the deficiency of the labor force. Also the Black0́9s unemployment rate tends to be substantially high in Illinois. Taking the two labor market- related problems of ageing population and high Black0́9s unemployment into consideration, the government could implement a labor policy measure aiming at increasing the employment rate of the Black to the level of the other races through the absorption of the unemployed Blacks by offering industry subsidies or incentives. However, the result shows that an indirect educational policy, targeting the upgrading of the transmission channel of human capital stock from the old generation to the young generation of the Black, is more preferable than the direct employment policy in terms of long-run effects on per-capita income and social welfare. Also, this chapter shows that the effects of the government0́9s immigration policy, which aims at replacing low-productive international immigrants with native, relatively high-productive unemployed individuals who have been unemployed, are very limited in terms of per-capita income, welfare and aggregate productivity. On the contrary, tax and transfer policy inducing international immigrants to invest more in their education works relatively better. Furthermore, under this policy scheme, the native0́9s human capital stock also improves significantly because of positive spillover effects even though the transfer system0́9s direct beneficiary is the international immigrant group. The third chapter attempts to project the economic paths for the individual Midwest states (Illinois, Indiana, Michigan, Ohio and Wisconsin, as well as the Rest of the US) in the future when the population ageing becomes more pronounced. To accomplish this task, a dynamic general equilibrium model is developed so that it could incorporate the inter-regional transactions and endogenous growth mechanisms within the framework of an OLG model. Key parameter values associated with the regional interconnections were assigned by using multi-regional Social Accounting Matrix (SAM) of the Midwest states. Two different steady-state results were presented with the two different age-cohort population structures corresponding to year 2007 and 2030. These steady-state results imply that there should be considerable negative impacts on the regional economies in the sense of declining per-capita output. The rate of declining of per-capita output are projected to be heterogeneous across the regions due to the different developments of age-cohort population structures and consequently different levels of endogenously determined educational investment of workers. Furthermore, the regions could be grouped separately according to the levels of average human capital stock of workers: high-skilled and low-skilled regions, being roughly consistent with actual labor productivity statistics. It is intuitive that the supply-demand interactions between the regions should be affected by developments of demographics in each region. This intuition is consistent with the simulation results in the sense that the result revealed the development of output price in a certain region reflects the dynamics of demographics of every region. Meanwhile, according to the dynamic simulation, the negative impacts of population ageing will not be so severe unlike what was presented in the steady-state results. This mitigation of negative effects could be attributed mainly to the growth of human capital stock of workers. The dynamic simulation results reveal that the per-capita output of every region is projected to grow positively in the near future when the population ageing will be pronouncing. However, the growth rate of the per-capita output is projected to be heterogeneous across the regions: the regions with high-skilled workers hold the potential threat that population ageing could give more negative impacts on the economy due to the relatively sluggish growth of human capital stock. Also, the dynamic simulation results show that certain regions in Midwest will experience their terms-of-trade deteriorate in the near future, implying that careful attention should be given to their future trade conditions.

Download or read book Essays on Business Cycles and Endogenous Growth written by Dmitry Brizhatyuk and published by . This book was released on 2020 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores the nexus between asset and credit market cycles, short-run fluctuations, and growth. What factors contribute to slow and incomplete recoveries from major crises? Why are some economies more prone to such dynamics than others and what lessons does it offer for policymakers? These are among the questions that I explore in my research. In the first chapter, I document that persistent fluctuations in trend growth -- medium frequency cycles -- tend to be more volatile and negatively skewed in emerging as opposed to developed small open economies. I argue that this evidence can be understood as stemming from the non-linear interaction between credit cycles, occasionally binding collateral constraints, and innovation-driven endogenous growth. Negative shocks are highly detrimental to productivity growth in vulnerable economies that are prone to sudden stops, but this is not the case in economies with deep financial markets where agents are more often able to optimally borrow to offset temporary negative income shocks. The second chapter studies the long-term effects of housing market boom-and-bust cycles. I first examine the relationship between the dynamics of the housing market, household debt, and economic activity in a historical panel of 50 countries. I show that housing market crashes robustly predict slower future output growth, most of which is explained by slower total factor productivity growth. Notably, the magnitude of this relation is increasing in the measure of preexisting household debt. To interpret these stylized facts, I construct a two-agent (borrower-saver) dynamic general equilibrium model with an occasionally binding collateral constraint tied to housing equity. Productivity grows endogenously in the model through forward-looking innovation investment. When the preexisting level of debt is sufficiently high, negative housing demand shocks cause the collateral constraint to bind and trigger deleveraging. The endogenous slowdown in TFP growth emerges as one of the adjustment margins during this process, prolonging the real effects of a crisis. The initial shock is amplified by a negative feedback loop between deleveraging, borrowers' housing wealth, and growth. I use the calibrated model to identify implications for the policy response during episodes of household deleveraging. Measures that reduce the debt burden of borrowers are effective in alleviating the short-run and persistent effects of deleveraging. In terms of monetary policy, the endogenous response of productivity growth warrants a greater focus on short-run output stabilization as opposed to inflation stabilization. Finally, in the third chapter (joint with Fabio Ghironi) we study the macroeconomic consequences of trade policy uncertainty emphasizing its negative effects on productivity growth. To that end, we build a small open economy model with nominal rigidity, innovation-driven endogenous growth, and time-varying volatility of domestic import tariffs. Several conclusions emerge: import tariff uncertainty shocks act as aggregate supply shocks; they cause a temporary improvement of the current account along with the real exchange rate appreciation in the medium run. In addition, an increase in import tariff uncertainty causes a sharp decline in the introduction of new intermediate products, which is detrimental to productivity growth and prolongs the effect of the shock. The size of these persistent effects -- relative to short-term effects -- is much larger for tariff uncertainty shock than for tariff level shocks. We show that endogenous risk premia in equity and bond markets is the key channel transmitting the shock to the broader economy and study role monetary policy in shaping it.

Download or read book Essays on Endogenous Trade Policies written by Susanna Thede and published by . This book was released on 2003 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three essays on endogenous growth in open economies written by Alberto Franco Pozzolo and published by . This book was released on 1999 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Method Theory and Policy in Keynes written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 1998 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the third and final volume of essays celebrating the work and lifetime contribution of Paul Davidson to economics, specifically the development of post Keynesian Economics. The outstanding group of international economists examine areas in which Paul Davidson has an interest, or has made significant contributions. They explore international macroeconomic issues such as consumption and investment, wage and price flexibility, sticky prices and aggregate production, and financial liberalization. Other contributions discuss economic rhetoric and post Keynesian methodological issues while the final part of the book turns to real problems such as the politics and economics of the European Union, the stabilization of the international oil market and realities of financial liberalization.

Download or read book Essays on Endogenous Policies Under Labor Union Influence and Their Implications written by Rasmus Højbjerg Jacobsen and published by . This book was released on 2001 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Policy Evaluation with Endogenous Adoption written by Elisabetta Gentile and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, experimental and quasi-experimental methods have been favored by researchers in empirical economics, as they provide unbiased causal estimates. However, when implementing a program, it is often not possible to randomly assign subjects to treatment, leading to a possible endogeneity bias. This dissertation consists of two empirical policy studies relying on large micro-level datasets to address issues of endogeneity of adoption. The first essay investigates the effect of intellectual property (IP) protection on arms-length licensing of foreign technology using a pooled cross-section of firms from 58 developing economies. While prior investigations have been mostly cross-country analyses relying on proxies for technology adoption, and with technology exporters as a target population, I analyze the determinants of foreign technology licensing for firms in developing countries, thus focusing on the implications of IP protection on economic development. I use two different measures of IP protection: the Index of Patent Rights, based on the legal framework, and the Intellectual Property Protection index, emphasizing enforcement. I find that the relationship of IP protection and firm-level adoption of foreign technology is contingent on a country's development stage. Enacting stronger IP legislation has a positive effect only on the group of newly industrialized countries and transition economies, whereby a 1% increase in legal protection of intellectual property increases the probability of licensing foreign technology by over 20%. When I focus on small and medium-sized firms, I find evidence that increased enforcement of existing IP rights has a negative impact on foreign technology licensing. In the second essay, we use a unique dataset from a large urban school district in the southwest United States (LUSD-SW) to assess how uniforms affect student behavior and achievement, as well as other outcomes. While prior literature relies on cross-sectional OLS or first-difference evidence, we exploit the panel nature of our data. Since schools in LUSD are free to set their own uniform policies and most schools adopt uniforms during the time period for which we have data, we are able to produce causal estimates of uniform impacts on student outcomes through the use of school, student and principal fixed effects. In contrast to most of the prior literature, we find that uniforms generate improvements in attendance in middle and high/school. We also find that uniforms significantly reduce teacher attrition in elementary schools. Nonetheless, uniforms have little impact otherwise. We find no statistically significant effect on disciplinary infractions, achievement, grade retention or student movements between schools. Although we cannot completely rule out that other contemporaneous policy enactments generate the attendance and teacher attrition effects rather than uniforms, the robustness of our estimates to the inclusion of principal fixed effects, the finding that our estimates are similar when we account for adoption under new principals, and the lack of any increase in disciplinary infractions even in the short term suggest that the results are unlikely to be due to concurrent changes in enforcement policies.

Download or read book Macroeconomics Undergraduate Essays and Revision Notes written by Bahrum Lamehdasht and published by Lulu.com. This book was released on 2013-03-06 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains essays and revision notes for Macroeconomics at the undergraduate level. This book includes the following topics: - Keynes vs. the Classics; - Keynes vs. Say's Law; - Keynes and the Neoclassical Synthesis; - IS-LM; - Keynes and Disequilibrium Economics; - Monetarism; - New Classical Economics; - Real Business Cycle Theory; - Kalecki's Trade Cycle; - Minsky's Financial Instability Hypothesis; - Harrod-Domar vs. Solow; - The Solow Model; - Endogenous Growth Theory; - Cambridge Capital Controversy; - The Mundell-Fleming Model; - Dornbusch's Overshooting Exchange Rate Model

Download or read book Complexity and the Art of Public Policy written by David Colander and published by Princeton University Press. This book was released on 2016-02-16 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: How ideas in complexity can be used to develop more effective public policy Complexity science—made possible by modern analytical and computational advances—is changing the way we think about social systems and social theory. Unfortunately, economists' policy models have not kept up and are stuck in either a market fundamentalist or government control narrative. While these standard narratives are useful in some cases, they are damaging in others, directing thinking away from creative, innovative policy solutions. Complexity and the Art of Public Policy outlines a new, more flexible policy narrative, which envisions society as a complex evolving system that is uncontrollable but can be influenced. David Colander and Roland Kupers describe how economists and society became locked into the current policy framework, and lay out fresh alternatives for framing policy questions. Offering original solutions to stubborn problems, the complexity narrative builds on broader philosophical traditions, such as those in the work of John Stuart Mill, to suggest initiatives that the authors call "activist laissez-faire" policies. Colander and Kupers develop innovative bottom-up solutions that, through new institutional structures such as for-benefit corporations, channel individuals’ social instincts into solving societal problems, making profits a tool for change rather than a goal. They argue that a central role for government in this complexity framework is to foster an ecostructure within which diverse forms of social entrepreneurship can emerge and blossom.

Download or read book Health and Economic Growth written by Guillem López i Casasnovas and published by MIT Press. This book was released on 2005 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading international researchers offer theoretical and empirical microeconomic and macroeconomic perspectives on the ways a population's health status affects a country's economic growth.

Download or read book Essays on the Theory of Optimal Economic Growth written by Karl Shell and published by MIT Press (MA). This book was released on 1967 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Composite work on economic theory of optimal economic growth - includes econometrics essays covering capital investment, trade, foreign investment, savings, efficiency, labour supply, technological change and the capital worker ratio, etc. References and bibliography.

Download or read book Handbook of Economic Growth written by Philippe Aghion and published by Newnes. This book was released on 2013-12-20 with total page 1172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volumes 2A and 2B of The Handbook of Economic Growth summarize recent advances in theoretical and empirical work while offering new perspectives on a range of growth mechanisms, from the roles played by institutions and organizations to the ways factors beyond capital accumulation and technological change can affect growth. Written by research leaders, the chapters summarize and evaluate recent advances while explaining where further research might be profitable. With analyses that are provocative and controversial because they are so directly relevant to public policy and private decision-making, these two volumes uphold the standard for excellence in applied economics set by Volumes 1A and 1B (2005). Offers definitive theoretical and empirical scholarship about growth economics Empowers readers to evaluate the work of other economists and to plan their own research projects Demonstrates the value of empirical testing, with its implicit conclusion that our understanding of economic growth will help everyone make better decisions