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A numerical approach to fiscal policy, unemployment, and growth in Europe

Daveri, Francesco; Maffezzoli, Marco - EconWPA - 2000

We calibrate an infinite-horizon model with endogenous growth and unemployment on actual data from the largest countries in the European Union. Two types of balanced-budget fiscal policy experiments are studied. First, the effects of separately changing the tax rates on capital, labor and...

Persistent link: https://www.econbiz.de/10005412655

Adjustment Costs in a Two-Capital Growth Model

Duczynski, Petr - EconWPA - 2001

The paper analyzes the convergence dynamics of a log-linearized open- economy neoclassical growth model under the assumptions of large adjustment costs for human capital investment, moderate adjustment costs for physical capital investment, and perfect capital mobility. The model can be...

Persistent link: https://www.econbiz.de/10005412690

Entrepreneurial Efficiency

Takii, Katsuya - EconWPA - 2004

This paper examines a particular aspect of entrepreneurship, namely firms' ability to respond appropriately to unexpected changes in the environment (i.e., their adaptability). An increase in firms' adaptability improves allocative efficiency in a competitive economy, but can reduce it when...

Persistent link: https://www.econbiz.de/10005125013

Stages of Growth in Economic Development

Kejak, Michal - EconWPA - 2001

The paper analyses a two-sector model of endogenous growth with two common features of economic development: stages of sustained growth and underdevelopment traps. The model also demonstrates the transitional issues of a temporary underdevelopment trap, seemingly sustainable growth, and a...

Persistent link: https://www.econbiz.de/10005407679

Beyond the Linearity Critique: The Knife-Edge Assumption of Steady State Growth

Growiec, Jakub - EconWPA - 2005

The "linearity critique" of endogenous growth models is presented in a general context of an arbitrary growth model and reassessed. It is argued, that presence of linearities is not a valid criterion for rejecting growth models. Existence of exponential/geometrical steady- state growth (i.e. of...

Persistent link: https://www.econbiz.de/10005408263

AN EVALUATION OF POST-INDEPENDENCE AGRICULTURAL POLICIES IN RELATION TO ECONOMIC DEVELOPMENT IN NIGERIA(1960 - 1987}

NWAOBI, DR. GODWIN CHUKWUDUM - EconWPA - 2005

AGRICULTURE IN ITS COMMON PARLENCE INCLUDES PRODUCTION, RESEARCH AND TRAINING IN THE FIELDS OF CROPS, FORESTRY, FISHING … AND LIVESTOCK. NIGERIAN AGRICULTURE WAS CHARACTERIZED BY LOW FARM INCOMES; LOW CAPACITY LEVEL TO SATISFY FOOD AND FIBRE … APPROPRIATE STRATEGY FOR SECURING INCREASED FARM OUTPUT AND PRODUCTIVITY IN AN UNDERDEVELOPED AGRICULTURE. THIS PAPER THEREFORE …

Persistent link: https://www.econbiz.de/10005118780

System of mathematical models of value (methodology, theory, agricultural applications)

Svetlov, Nikolai - EconWPA - 2002

The model of exchanges in a competitive economy is developed that is based on an economic agent model who maximises the levels of satisfying his demands. The existence of a weak tendency to formation of value is shown. The interrelation between value and (a) technologies, (b) shadow prices in...

Persistent link: https://www.econbiz.de/10005135066

Explaining the Negative Coefficient Associated with Human Capital in Augmented Solow Growth Regressions

Jean-Louis, Arcand; d'Hombres, Béatrice - EconWPA - 2005

In this paper we consider different explanations for why the coefficient associated with human capital is often negative in growth regressions once country-specific effects are controlled for, whereas the coefficient in question is strongly positive in cross-sectional or panel results based on...

Persistent link: https://www.econbiz.de/10005126183

Intelligence, Human Capital, and Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

Jones, Garett; Schneider, W. Joel - EconWPA - 2005

Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...

Persistent link: https://www.econbiz.de/10005407739

The Optimal Control of Technology Choices

Gomes, Orlando - EconWPA - 2004

We may distinguish between two concepts of technology: a theoretical level of technology (that is, a technology possibilities frontier) and a level of technology in practice (that is, ready to use in production technology). Having these two concepts in mind, the paper develops an intertemporal...

Persistent link: https://www.econbiz.de/10005408275