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A Note on the Euler Equation of the Growth Model

Li, defu; Bental, Benjamin - 2023

The neoclassical Euler equation provides the necessary conditions for households to maximize lifetime utility by allocating income between consumption and investment, and is the core equation for solving the steady-state of the neoclassical growth model. The existing textbooks (Barro and...

Persistent link: https://www.econbiz.de/10015270916

The Dual Economy in Long-run Development

Vollrath, Dietrich - 2008

This paper provides a dynamic model of the dual economy in which differences in productivity across sectors arise endogenously. Rather than relying on exogenous price distortions, duality arises because of differences between sectors in the separability of their fertility and labor decisions....

Persistent link: https://www.econbiz.de/10015214592

Home Production and Gender Gap in Structural Change

Cao, Huoqing; Chen, Chaoran; Xi, Xican - 2024

to non-agriculture. Calibrating the model to China, we find that within-household specialization among married couples … greatly amplifies the effects of gender-specific labor distortions, and that changes in entry barriers to non-agriculture … induce more married women to work in non-agriculture. Extrapolating our model globally, it explains a quarter of the …

Persistent link: https://www.econbiz.de/10015214269

Home Production and Gender Gap in Structural Change

Cao, Huoqing; Chen, Chaoran; Xi, Xican - 2024

Persistent link: https://www.econbiz.de/10015214572

Sector-Specific Externalities and Endogenous Growth under Social Constant Returns

Mino, Kazuo - 2000

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/10015217976

Indeterminacy in Two-Sector Models of Endogenous Growth with Leisure

Mino, Kazuo - 2002

This paper demonstrates that preference structure may play a pivotal role in generating indeterminacy in the stylized model of endogenous growth. By examining two-sector models of endogenous growth with human capital formation, we show that if the utility function of the representative family is...

Persistent link: https://www.econbiz.de/10015217977

Kuznets-Kaldor-puzzle, neutral structural change and independent preferences and technologies

Stijepic, Denis; Wagner, Helmut - 2009

The Kuznets-Kaldor stylized facts are one of the most striking empirical regularities of the development process in industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This implies...

Persistent link: https://www.econbiz.de/10015230933

A Note on the Solow Growth Model with a CES Production Function and Declining Population

Sasaki, Hiroaki - 2017

This study investigates the relationship between per capita output growth and population growth using the Solow growth model when population growth is negative. When the Cobb-Douglas production function is used, the per capita output growth rate is positive even if the technological progress...

Persistent link: https://www.econbiz.de/10015256630

Firm Size, Bank Size, and Financial Development

Grechyna, Daryna - 2017

Financial intermediation facilitates economic development by providing entrepreneurs with external finance. The relative costs of financing depend on the relative efficiency of the financial sector and the sector using financial intermediation services, the real sector. These costs determine the...

Persistent link: https://www.econbiz.de/10015258562

Firm Size, Bank Size, and Financial Development

Grechyna, Daryna - 2017

Financial intermediation facilitates economic development by providing entrepreneurs with external finance. The relative costs of financing depend on the efficiency of the financial sector and the sector using financial intermediation services, the production sector. These costs determine the...

Persistent link: https://www.econbiz.de/10015261540