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Persistent link: https://www.econbiz.de/10009703305
The stability of factor shares has long been considered one of the “stylized facts” of macroeconomics. Most factor share studies, however, acknowledge only two factors of production (total capital and total labor), which yields misleading results. I distinguish between reproducible and...
Persistent link: https://www.econbiz.de/10011065326
This paper analyzes the relationship between financial repression and structural change. We present a simple theoretical model of structural transformation in which the impact of financial repression on unbalanced growth is studied. The model suggests that governments may choose to repress the...
Persistent link: https://www.econbiz.de/10011124097
This paper examines differences in the optimal strength of intellectual property rights protection in a North-South endogenous growth model where it is possible for the South to engage in imitation, innovation or both. The possibility of Southern innovation implies sharp breaks in optimal policy...
Persistent link: https://www.econbiz.de/10011124129