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We set up a unified growth model with gender-specific differences in tastes for consumption, fertility, education of daughters and sons, and consider the intra-household bargaining power of spouses. In line with the empirical regularity for less developed countries, we assume that mothers desire...
Persistent link: https://www.econbiz.de/10010954353
This paper introduces wealth-dependent time preference into a simple model of endogenous growth. The model generates adjustment dynamics in line with the historical facts on savings and economic growth in Europe from the High Middle Ages to today. Along a virtuous cycle of development more...
Persistent link: https://www.econbiz.de/10004982147
It is well known that the performance of simple models of economic growth improves substantially through the introduction of subsistence consumption. How to compute subsistence needs, however, is a difficult and controversially discussed issue. Here, I reconsider the linear (Ak) growth model...
Persistent link: https://www.econbiz.de/10005464752
This paper introduces wealth-dependent time preference into a simple model of endogenous growth. The model generates adjustment dynamics in line with the historical facts on savings and economic growth in Europe from the High Middle Ages to today. Along a virtuous cycle of development more...
Persistent link: https://www.econbiz.de/10010582582
We investigate both the rational explosive inflation paths studied by McCallum (2001), and the classification of fiscal … domains for which the fiscal theory solution, in which fiscal variables affect the price level, can be a stable outcome under …
Persistent link: https://www.econbiz.de/10005136683
We generalize a trade model with firm-specific heterogeneity and R&D-based growth to allow for an endogenous education decision of households and an endogenously evolving population. Our framework is able to explain cross-country differences in living standards and trade intensities by the...
Persistent link: https://www.econbiz.de/10010954280
The paper discusses the impact and implications of Korean unification by setting up a two-region endogenous growth model. The numerical solutions are based on the formal analytical model, and have been calibrated so that they reflect the observed features of the North and South Korean economies....
Persistent link: https://www.econbiz.de/10005357450
We consider an endogenous growth model with international trade in complementary capital goods. The model possesses several distinct, balanced growth solutions, which we classify using stability under adaptive learning. Some of the equilibria can involve growth rates much higher than others. We...
Persistent link: https://www.econbiz.de/10005111377
This paper analyses the long run effects of the 2000 Income Tax Act in Estonia in a dynamic equilibrium model. It studiesthe impact of the shift from an imputation system to a system in which companies pay taxes only with respect to distributed profits.Balanced growth paths, transitional...
Persistent link: https://www.econbiz.de/10005823524
neoclassical growth model and modern endogenous growth theory. …
Persistent link: https://www.econbiz.de/10005764588