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functions that nests both the Cobb-Douglas and the CES. Embedding the resultant production function in a neoclassical growth …
Persistent link: https://www.econbiz.de/10005789940
In this paper, several flaws of the basic no-capital/labor-only New Keynesian model are discussed. Some flaws were left undiscovered because mass of varieties n in Dixit-Stiglitz aggregator is often considered as not affecting overall outcomes. Only when n=1 would ordinary results of the basic...
Persistent link: https://www.econbiz.de/10011109474
In this paper, several flaws of the basic no-capital/labor-only New Keynesian model are discussed. Some flaws were left undiscovered because mass of varieties n in Dixit-Stiglitz aggregator is often considered as not affecting overall outcomes. Only when n=1 would ordinary results of the basic...
Persistent link: https://www.econbiz.de/10011111947
In this paper, several flaws of the basic no-capital/labor-only New Keynesian model are discussed. Some flaws were left undiscovered because mass of varieties n in Dixit-Stiglitz aggregator is often considered as not affecting overall outcomes. Only when n=1 would ordinary results of the basic...
Persistent link: https://www.econbiz.de/10011113562
By examining two-sector models of endogenous growth with physical and human capital, this paper demonstrates that indeterminacy of equilibrium may emerge even in the absence of social increasing returns. The first model we examine assumes that both final good and new human capital production...
Persistent link: https://www.econbiz.de/10005105902
This paper evaluates the relative contribution of factor accumulation and technology in explaining output per worker differences across Italian regions in the period 2000-2004. The contributions of physical and human capital are separately estimated through the variance decomposition of output...
Persistent link: https://www.econbiz.de/10005055507
We investigate whether Italian regions have converged in terms of output per worker because of physical capital accumulation, human capital accumulation or thanks to technological catch-up. In order to identify channels of convergence we adopt the methodology recently proposed by Wong (2007) and...
Persistent link: https://www.econbiz.de/10005616770
This paper explains and shows us the Phillips Curve for advanced economies on period 1996-2007 for specially for the United States and Euro area case. The informations for 2006 and 2007 was considered being in attention the forecasting of International Monetary Fund (IMF) for these years. We...
Persistent link: https://www.econbiz.de/10005837539
The interplay between supply and demand in the context of growth processes is examined. It is demonstrated that economic development is also significantly influenced by demand under classic, exchange-based hypotheses. Growth assumes that economic operators are willing to change the composition...
Persistent link: https://www.econbiz.de/10009647381
On the basis of the current production function, this paper categorizes the industries in an economy into the traditional and emerging industries, builds a categorized production function (CPF) and defines the innovation efficiency. We can repeat all the researches about original production...
Persistent link: https://www.econbiz.de/10011110025