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Elasticity of Factor Substitution and Capital Formation in a Two-Sector Economy
Mino, Kazuo - Volkswirtschaftliche Fakultät, … - 2011
This paper explores the relationship between factor substitution in production and the steady-sate level of capital stock in a growing economy. Unlike the foregoing studies on this topic that have exclusively utilized one-sector growth models, we consider a two-sector economy where investment...
Persistent link: https://www.econbiz.de/10011109476
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Inflationary pressures in South Asia
Goyal, Ashima - In: Asia-Pacific Development Journal 17 (2010) 2, pp. 1-42
price shocks, provides a useful opportunity to better understand the structure of inflation in these economies. Analysis of … that output is largely demand determined but inefficiencies on the supply side perpetuate inflation. Pro-cyclical policy … amplifies the negative impact of supply shocks on output. Inflation surges are reduced at high output cost while propagation …
Persistent link: https://www.econbiz.de/10009364296
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Is There a Case for Formal Inflation Targeting in Sub-Saharan Africa?
Heintz, James; Ndikumana, Léonce - Political Economy Research Institute (PERI), University … - 2010
This working paper examines the question of whether inflation targeting monetary policy is an appropriate framework for … sub-Saharan African countries. The paper presents an overview of inflation targeting, reviews the justification for the … regime, and summarizes some major critiques. Monetary policy responses to inflation depend on the source of inflationary …
Persistent link: https://www.econbiz.de/10008464035
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Inflationary Pressures in South Asia
Goyal, Ashima - Economic and Social Commission for Asia and the Pacific …
price shocks, gives a useful opportunity to better understand the structure of inflation in these economies. Analysis of the … inefficiencies on the supply side perpetuate inflation. Procyclical policy amplifies the negative impact of supply shocks on output …. Inflation surges are reduced at high output cost while propagation mechanisms and well-intentioned administrative interventions …
Persistent link: https://www.econbiz.de/10010890749
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Blooming landscapes in East Germany?
Berlemann, Michael; Thum, Marcel - In: CESifo Forum 6 (2005) 4, pp. 16-22
Persistent link: https://www.econbiz.de/10004998721
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Neoclassical Growth and the Natural Resource Curse Puzzle
Guilló, María Dolores; Pérez-Sebastián, Fidel - Departamento de Métodos Cuantitativos y Teoría … - 2012
The traditional view that natural riches increase the wealth of nations has been recently challenged by empirical findings that point out that natural inputs are negatively related to growth. This paper shows, within a two-sector neo-classical growth model with international trade in goods, that...
Persistent link: https://www.econbiz.de/10010991672
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Misallocation and Productivity
Restuccia, Diego; Rogerson, Richard - University of Toronto, Department of Economics - 2012
A large portion of differences in output per capita across countries is explained by differences in total factor productivity (TFP). In this article, we summarize a recent literature - and the articles in this special issue on misallocation and productivity - that focus on the reallocation of...
Persistent link: https://www.econbiz.de/10010850124
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Accounting for Spanish business cycles.
Rodríguez-López, Jesús; Solís-García, Mario - Departamento de Economía, Universidad Pablo de Olavide - 2014
We apply the business cycle methodology proposed by Chari, Kehoe, and McGrattan (2007) to identify the sources of Spanish business fluctuations during two outstanding cyclical episodes: the recession alongside the transition to democracy in 1977 and the great recession of 2008. We find that the...
Persistent link: https://www.econbiz.de/10010875541
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China’s Great Convergence and Beyond
Storesletten, Kjetil; Zilibotti, Fabrizio - In: Annual Review of Economics 6 (2014) 1, pp. 333-362
review a comprehensive theory of its economic transition. Finally, we discuss China’s future. In particular, we review some …
Persistent link: https://www.econbiz.de/10010886217
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Can Oil-led Growth and Structural Change Go Hand in Hand in Ghana? A Multi-sector Intertemporal General Equilibrium Assessment
Breisinger, Clemens; Diao, Xinshen; Wiebelt, Manfred - Institut für Weltwirtschaft (IfW) - 2012
Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a...
Persistent link: https://www.econbiz.de/10010886853