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growthmodels: (i) the standard neoclassical growth model similar to that employed by Mankiw, Romer, and Weil (1992), (ii) an … contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological …
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To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short … predictive content of the yield spread for future output growth. For U.S. data we observe good leading indicator properties at …
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This paper constructs a small open economy version of the two sector Benhabib-Farmer (1996) indeterminacy model. It can be shown that sunspot equilibria arise at significantly lower magnitude of increasing returns to scale than in the original dosed economy model. Furthermore, if a mix of...
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) income distribution dynamics, intergenerational community formation and growth. In a world in which redistributive policies … long run. -- growth ; Community formation ; human capital ; redistribution ; social mobility …
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