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The emphasis in post-Keynesian macroeconomics on wage- versus profit- led growth may not have been helpful. The profit share is not an exogenous variable, and the correlations between the pro.t share and economic growth can be positive for some exogenous shocks but negative for others. The...
Persistent link: https://www.econbiz.de/10011522218
corporate net lending determinants. We disentangle the effects of the profit share on corporate saving and investment and …
Persistent link: https://www.econbiz.de/10012137922
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10011978553
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investment), (3) that the specific causes of the IS imbalances have changed dramatically over time, and (4) that future trends in …
Persistent link: https://www.econbiz.de/10011311745
, which is that even though global financial markets appear to be integrated, levels of saving and investment are correlated …
Persistent link: https://www.econbiz.de/10011756014
Martin Stuart ("Marty") Feldstein, currently George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, Inc. (NBER), is a renowned American economist who has made important contributions to public finance, macroeconomics,...
Persistent link: https://www.econbiz.de/10010381488
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We study the negative correlation between natural resource-abundance and long-term income focusing on the savings-investment … the issue. In this model, savings adjust downwards to income from natural resources, and investment in capital contributes … income through savings and investment. Natural resources have two counteracting effects on income. In the short term …
Persistent link: https://www.econbiz.de/10011324959