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We introduce a new time series measure of the extent of federal regulation in the U.S. and use it to investigate the … relationship between federal regulation and macroeconomic performance. We find that regulation has statistically and economically … labor. Regulation has caused substantial reductions in the growth rates of both output and TFP and has had effects on the …
Persistent link: https://www.econbiz.de/10010987828
Can China build on its development success to achieve high-income status in the decades ahead? To shed light on this question, we examine the past and prospective future sources of growth in China through the lens of the neoclassical growth model. Our key finding is that China would need to...
Persistent link: https://www.econbiz.de/10013241400
This paper examines how global uncertainty and domestic shocks (domestic uncertainty) affect macroeconomic performance, such as household consumption expenditure, gross fixed capital formation, and goods and services exports, in Indonesia, Malaysia, the Philippines, and Thailand. The Global...
Persistent link: https://www.econbiz.de/10012869056
Japan’s remarkable postwar growth spurt in the 1960s would not have been possible without Japan’s alliance with the United States. Policy makers, political scientists, economists, historians, and journalists on both sides of the Pacific have made this claim, but no study has yet tested it...
Persistent link: https://www.econbiz.de/10014155251
This paper examines the drivers of the long-run structural transformation in Japan. We use a dynamic input-output framework that decomposes the reallocation of the total output across sectors into two components: the Engel effect (demand side) and the Baumol effect (supply side). To perform this...
Persistent link: https://www.econbiz.de/10012859749
Peter Hall and David Soskice suggest that institutional coherence is conducive to successful macroeconomic outcomes. Countries with corporate governance arrangements, industrial relations systems and other institutions that are congruent either with those of a coordinated market economy or with...
Persistent link: https://www.econbiz.de/10012760761
This paper investigates empirically the sources of aggregate output growth and the determinants of total factor productivity (TFP) in Niger between 1963 and 2003. A growth accounting analysis indicates that the erosion in output per capita over the sample period is due to the negative growth of...
Persistent link: https://www.econbiz.de/10012778220
Uzbekistan in recent 10 years is an extremely successful economy – high growth (8%), low domestic and international debt, undervalued exchange rate, relatively even distribution of income, creation from scratch competitive export oriented auto industry. It is important though to avoid...
Persistent link: https://www.econbiz.de/10013044489
Persistent link: https://www.econbiz.de/10014006466
Persistent link: https://www.econbiz.de/10014426788