Showing 1 - 10 of 938
This paper constructs a two-country (Home and Foreign) general equilibrium model of Schumpeterian growth without scale effects. The scale effects property is removed by introducing a distinct specification in the knowledge production function which generates semi-endogenous growth. In this model...
Persistent link: https://www.econbiz.de/10005836293
Average hourly productivity has often been used to draw conclusions on long run per capita GDP growth, based on the … trend among the two variables in the period 1980-2005. Furthermore, we apply a simple decomposition of GDP growth into five … indeed a non-negligible role in explaining the dynamics of long run per capita GDP growth. In particular, these “forgotten …
Persistent link: https://www.econbiz.de/10008866140
power for both GDP growth and excess stock returns, and that the results are robust to the inclusion of information …
Persistent link: https://www.econbiz.de/10009647399
This note briefly describes the merits and limitations of the national accounts, e.g. GDP per capita is a simple …
Persistent link: https://www.econbiz.de/10008873547
in replacing GDP. Why? The article reviews what are arguably the three most successful alternatives to GDP (the Human … refinement as most of the literature does. After discussing their faults, it is shown that the wealth approach underlying GDP can … to substantiate this claim es-timates of environment-augmented GDP for 130 countries are presented and discussed. However …
Persistent link: https://www.econbiz.de/10011118550
Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth...
Persistent link: https://www.econbiz.de/10008565433
Whether fixed factors such as land constrain per-capita income growth depends crucially on two variables: the substitutability of fixed factors in production, and the extent to which innovation is biased towards land-saving technologies. This paper attempts to quantify both. Using the timing of...
Persistent link: https://www.econbiz.de/10011258310
concerns the estimates of regional GDP, it is shown that: my estimation procedure for 1871 was transparent; the interpolation …
Persistent link: https://www.econbiz.de/10011113579
One of the most common myths in European economic history, and indeed in Economics itself, is that the Black Death of 1347-48, followed by other waves of bubonic plague, led to an abrupt rise in real wages, for both agricultural labourers and urban artisans – one that led to the so-called...
Persistent link: https://www.econbiz.de/10005055486
The traditional and almost universal method of expressing real wages is by index numbers, according to the formula: RWI = NWI/CPI: i.e., the real wage is the quotient of the nominal (money) wage index divided by the consumer price index, all employing a common base period (here: 1451-75 = 100)....
Persistent link: https://www.econbiz.de/10005616988