dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the … model for the US economy. First, we establish that the net effect of a decline in population growth on the growth rate of … the growth performance and for individual welfare. Third, we show that the assessment of pension reform proposals may be …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …

One of the most striking regularities of the growth process is the massive reallocation of labour from agriculture into … industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well …-known Kaldor facts about economic growth. Unfortunately, these models are inconsistent with the structural change dynamics that are …

This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita … main external shocks. The paper also argues that rapid growth interacted with weak institutions in a way that contributed …

-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since …-differenced GMM in our estimation of an empirical growth model. …

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical … growth model. In the long run the world growth rate is driven by discoveries in those economies that lead in their use of … costs to increase reduces followers' growth rates and thereby generates a pattern of conditional convergence. We discuss how …

epidemic disease such as AIDS. We establish that the disease can severely retard economic growth, even to the point of leading …

This paper examines how economic stratification affects inequality and growth over time. It studies economies where …-wide linkages (complementary skills, knowledge spillovers). It compares growth and welfare when families are stratified into … slower growth in the short run, but to higher output or even productivity growth in the long run. This trade-off occurs in …

and economic growth. Individuals (who differ in abilities) live for two periods, working when young and owning capital … lower pollution tax, a larger capital tax, and lower growth. …

economy displaying neoclassical growth. There are two vertically-integrated economies. Each consists of a large number of … growth need not be positively related. Furthermore, trade is not necessarily beneficial to regional growth, whereas trade …