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Capital Accumulation, Vintage and Productivity: The Japanese Experience

Hagiwara, Taiji; Matsubayashi, Yoichi - Faculty of Economics, Kobe University - 2014

We empirically examine the relationship between capital accumulation and vintage as well as the productivity of … industries in Japan from 1980 to 2007. Based on the empirical analyses, we confirmed that vintage exerted a significant influence …, where strong vintage effects were observed in all industries. The rejuvenation of capital equipment during this period …

Persistent link: https://www.econbiz.de/10010775065

Convergence, capital accumulation and the nominal exchange rate

Benczur, Peter; Konya, Istvan - In: Journal of International Money and Finance 37 (2013) C, pp. 260-281

This paper develops a flexible price, two-sector growth model with a nominal side to study the role of the exchange rate in transition dynamics. We adopt a standard small open economy model with traded and nontraded goods, where the engines of growth are exogenous productivity improvements and...

Persistent link: https://www.econbiz.de/10010869435

Convergence, capital accumulation and the nominal exchange rate

Benczúr, Péter; Kónya, István - Magyar Nemzeti Bank (MNB) - 2007

This paper develops a flexible price, two-sector nominal growth model, in order to study the role of the exchange rate regime in capital accumulation (convergence). We adopt a standard model of a small open economy with traded and nontraded goods, and enrich its structure with costly investment...

Persistent link: https://www.econbiz.de/10005562425

Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series

Levy, Daniel - EconWPA - 2005

This paper makes three contributions: First, I construct annual time series of gross domestic investment and national saving in the U.S. for the 1897–1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with the...

Persistent link: https://www.econbiz.de/10005408170

Revisiting business cycles in the Eurozone: A fuzzy clustering and discriminant approach

Quah, Chee-Heong - In: Acta Oeconomica 64 (2014) June, pp. 161-180

The first part of analysis draws out homogenous clusters of countries out of the 27 EU states based on their business cycle synchronicities with the euro area (EA) 12, quantified by correlations of cycles between the 27 countries’ GDP components and the EA12’s GDP1. The purpose is to compare...

Persistent link: https://www.econbiz.de/10011094472

The Macroeconomic Effects of Reserve Requirements

Glocker, Ch.; Towbin P. - Banque de France - 2012

Monetary authorities in emerging markets are often reluctant to raise interest rates when dealing with credit booms driven by capital inflows, as they fear that an increase attracts even more capital and appreciates the currency. A number of countries therefore use reserve requirements as an...

Persistent link: https://www.econbiz.de/10010540385

Fiscal Policy and Macroeconomic Imbalances

Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

Persistent link: https://www.econbiz.de/10011277938

Technology adoption and accumulation in a vintage-capital model

Barucci, Emilio; Gozzi, Fausto - In: Journal of Economics 74 (2001) 1, pp. 1-38

Persistent link: https://www.econbiz.de/10005715581

Terms of Trade Shocks in an Intertemporal Model: Should We Worry about the Dutch Disease or Excessive Borrowing?

Kuralbayeva, Karlygash; Vines, David - C.E.P.R. Discussion Papers - 2006

This paper analyzes the impact of terms of trade and risk-premium shocks on a small open economy in an intertemporal, Dutch disease model, with international capital mobility. It is shown that when the economy experiences a permanent improvement in the terms of trade, the Dutch disease effect...

Persistent link: https://www.econbiz.de/10005504657

Current Account Imbalances and Real Exchange Rates in the Euro Area

Arghyrou, Michael - Economics Section, Cardiff Business School - 2006

Global current account imbalances have been one of the focal points of interest for policymakers during the last few years. Less attention has been paid, however, to the diverging current account balances of the individual euro area countries. In this paper we consider the dynamics of current...

Persistent link: https://www.econbiz.de/10005509762