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The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income … disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued … behind income convergence are analized by means of the decomposition of per capita income in labor productivity and …
Persistent link: https://www.econbiz.de/10005463756
Main trends of per capita income convergence in Portugal and the European Union are surveyed. An explanation is given … to the fact that in the last two decades countries have converged, while no visible convergence has taken place among the … distribution of the stock of existing firms in the European Union is fixed, it is assumed that the degree of convergence follows …
Persistent link: https://www.econbiz.de/10005463763
In this paper, we develop a Listian model of economic development. The economy consists of a primary sector and a potential industrial sector that can arise via industrialization. Industrialization however depends on if the primary sector specializes on the primary product, which can lead to a...
Persistent link: https://www.econbiz.de/10011194292
In most countries, discretionary fiscal policy has often been pro-cyclical: instead of dampening the business cycle, actual discretionary policy has mostly magnified it. This paper proposes a mechanism that allows discretionary fiscal policy to be counter-cyclical. This involves the creation of...
Persistent link: https://www.econbiz.de/10009645608