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Chapter 4 The new empirics of economic growth

Durlauf, Steven N.; Quah, Danny T. - In: Handbook of macroeconomics : volume 1, part A, (pp. 235-308). 1999

We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....

Persistent link: https://www.econbiz.de/10014024246

Chapter 22. RBC Methodology and the Development of Aggregate Economic Theory

Prescott, E.C. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1759-1787). 2016

This essay reviews the development of neoclassical growth theory, a unified theory of aggregate economic phenomena that was first used to study business cycles and aggregate labor supply. Subsequently, the theory has been used to understand asset pricing, growth miracles and disasters, monetary...

Persistent link: https://www.econbiz.de/10014024293

Public investment, taxation, and long-run output in economies with multi-level governments

Bodman, Philip; Campbell, Harry; Le, Thanh - In: Economic Modelling 29 (2012) 5, pp. 1603-1611

This paper examines the dynamic effects of taxation and investment on the steady state output level of an economy. A simple neoclassical growth model with different tiers of government is developed. The initial focus is on governments that aim to maximise their citizens' welfare and economic...

Persistent link: https://www.econbiz.de/10010597494

Post-Keynesian macrodynamics and path-dependent growth

Setterfield, Mark - In: European Journal of Economics and Economic Policies: … 8 (2011) 2, pp. 299-316

This paper discusses the treatment of growth as a path-dependent process in post-Keynesian macrodynamics. A synthetic post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path-dependent in the post-Keynesian tradition. Recent developments in...

Persistent link: https://www.econbiz.de/10010711792

Economic Growth with Heterogeneous Households,Gender Division of Labor, and Elastic Labor Supply

Zhang, 张卫彬 - In: Journal of Income Distribution 21 (2012) 2, pp. 15-37

. The dynamic model describes an interaction among economic growth, time, gender, income, and wealth distribution. Our … consumer behavior. We simulate the 3-group model to provide insights into the complexity of growth, income, and wealth … economic growth, income and wealth distribution, and female labor participation. For instance, our comparative dynamic analysis …

Persistent link: https://www.econbiz.de/10010711968

Energy, the Environment and US Economic Growth

Jorgenson, Dale W.; Goettle, Richard J.; Ho, Mun S.; … - In: Handbook of Computable General Equilibrium Modeling

The point of departure for the study of the impact of energy and environmental policies is the neoclassical theory of economic growth formulated by Cass (1965) and Koopmans (1967). The long-run properties of economic growth models are independent of energy and environmental policies. However,...

Persistent link: https://www.econbiz.de/10010719524

An Econometric Approach to General Equilibrium Modeling

Jorgenson, Dale W.; Jin, Hui; Slesnick, Daniel T.; … - In: Handbook of Computable General Equilibrium Modeling

The first objective of this chapter is to present a new approach to econometric modeling of producer behavior. Our key contribution is to represent the rate and biases of technical change by unobservable or latent variables. We also divide the rate of technical change between components that are...

Persistent link: https://www.econbiz.de/10010719542

The analytical solution of balanced growth of non-linear dynamic multi-sector economic model

Zhang, Jin Shui - In: Economic Modelling 28 (2011) 1, pp. 410-421

In a one-sector neoclassical dynamic economic growth model, a reasonable ratio of investment to consumption exists, i.e., the “Golden Rule of Consumption”. This study is to extend one-sector neoclassical growth model to a multi-sector one. It is assumed that both the production function and...

Persistent link: https://www.econbiz.de/10011048747

Growth, income taxes and consumption aspirations

Marrero, Gustavo A.; Novales, Alfonso - In: Economics Letters 113 (2011) 3, pp. 221-224

In a Barro-type economy with exogenous consumption aspirations, raising income taxes favors growth even in the presence … of lump-sum taxes. Such a policy is compatible with the behavior of private consumption, income taxes and growth rates …

Persistent link: https://www.econbiz.de/10010576445

Még egyszer az optimális növekedésről

Simonovits, András - In: Közgazdasági Szemle (Economic Review - monthly of the … XLII (1995) 12, pp. 1118-1135

Ebben a cikkben a véges időhorizontú optimális növekedés kérdésével foglalkozunk. A kiinduló pont Harrod és Domar állandó tőke/termelési hányadú modellje, de a beruházási hányad az elemzési időszakban bizonyos korlátok között folytonosan változhat. Föltesszük, hogy a...

Persistent link: https://www.econbiz.de/10010963483

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