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Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent...
Persistent link: https://www.econbiz.de/10005481857
substitution (CES) production function and the implications of this formulation for the properties of a structural macroeconomic … model. He then seeks to determine whether Canadian macroeconomic data correlate better with a CES production function with …-Douglas function, or with a CES function whose elasticity of substitution is different from one. Cobb-Douglas-type production functions …
Persistent link: https://www.econbiz.de/10005162482
India has created the basic rules of modern economic and political life. While the country’s institutional framework needs strengthening, it will allow India to prosper without drastic changes. Gradual economic reform has transformed India, putting it on a much faster growth path. Economic...
Persistent link: https://www.econbiz.de/10005518987
This article examines the effect of remittances on economic growth, highlighting the main transmission channels. Using the SGMM method, estimates based on data from 27 developing countries show that remittances have a positive and significant effect on economic growth. The results don’t allow...
Persistent link: https://www.econbiz.de/10009195605
This chapter presents the methods and contributions of evolutionary approach to economic dynamics. First, we expose why economic dynamics can indeed be considered as evolutionary. Second, we discuss sources of diversity and selection mechanisms that drive these dynamics, in the context of...
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