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Author: Mr.Howell H. Zee
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
The present paper develops a one-sector aggregate endogenous growth model with intertemporal preference dependence. The resultant model possesses the fundamental property of growth convergence, in the sense that countries with identical parameters regarding technology, preference, and government policy will converge to a steady state with the same (positive) growth rate. A notable tax policy implication of the model is that, even in the absence of externalities, the growth effects of an income tax are shown to be a priori ambiguous and dependent on the relative magnitudes of the tax rate and the tax elasticity of the savings rate.
Author: Mr.Howell H. Zee
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
The present paper develops a one-sector aggregate endogenous growth model with intertemporal preference dependence. The resultant model possesses the fundamental property of growth convergence, in the sense that countries with identical parameters regarding technology, preference, and government policy will converge to a steady state with the same (positive) growth rate. A notable tax policy implication of the model is that, even in the absence of externalities, the growth effects of an income tax are shown to be a priori ambiguous and dependent on the relative magnitudes of the tax rate and the tax elasticity of the savings rate.
Author: Pertti Haaparanta
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We introduce endogenous time preference via investment in patience (farsightedness) in an overlapping generations growth model to study development traps. There is no investment in patience, if the economy is very poor, while if it is wealthy enough there is always such investment. We explore the conditions for the existence of the development trap, and study in detail a robust example of an economy with traps. It does not exist, if the economy's total factor productivity is large enough. Our results illustrate the complementarity between physical investment and investment in farsightedness. Our model may also explain why economic growth is affected by initial conditions. In addition we show that increased international capital mobility does not necessarily help economies to escape from development traps.
Author: Michael Lee Stern
Publisher:
ISBN:
Category :
Languages : en
Pages : 294
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Book Description
Author: Philippe Aghion
Publisher: MIT Press
ISBN: 9780262011662
Category : Business & Economics
Languages : en
Pages : 720
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Book Description
"Problems and solutions by Cecilia Garcâia-Peänalosa in collaboration with Jan Boone, Chol-Won Li, and Lucy White." Includes bibliographical references (p. [665]-687) and index.
Author: Alfred Greiner
Publisher: Princeton University Press
ISBN: 9780691119182
Category : Business & Economics
Languages : en
Pages : 222
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Book Description
Publisher Description
Author: Robert J. Barro
Publisher: MIT Press
ISBN: 9780262025539
Category : Business & Economics
Languages : en
Pages : 676
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Book Description
The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Author: Karen Pittel
Publisher: Edward Elgar Publishing
ISBN: 9781781957219
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Since 1990, interest in growth theory in the context of the environment has increased dramatically, resulting in a vast array of articles and books applying different modelling approaches and focusing on a variety of diverse topics. Dealing with endogenous growth under environmental restrictions, Karen Pittel provides a comprehensive survey of the field and highlights some important issues that have so far been rather neglected within the debate on sustainable growth.
Author: Karen Pittel
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
During the last decade, interest in growth theory in the context of the environment has increased dramatically, resulting in a vast array of articles and books applying different modelling approaches and focusing on a variety of diverse topics. Dealing with endogenous growth under environmental restrictions, Karen Pittel provides a comprehensive survey of the field and highlights some important issues that have so far been rather neglected within the debate on sustainable growth. The book begins with a thorough review of the concepts of sustainable development and growth. Based upon the findings of this review, the focus shifts towards the specifics of integrating environmental concerns into endogenous growth models, which reveals some interesting new insights. Three particular facets of the environment-growth debate are then studied in detail: the role of recycling in the quest for sustainable growth the implications of endogenous time preference the effects of economic integration on growth and pollution. This well written and accessible book provides an extensive introduction to the issues of sustainability and endogenous growth, enhanced by a comprehensive review of the associated literature. It will be required reading for environmental economists, ecological economists, students and academics interested in sustainable development and growth, and growth theorists concerned with environmental issues.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451850956
Category : Business & Economics
Languages : en
Pages : 86
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Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author: Marianna A. Klochko
Publisher: Edward Elgar Publishing
ISBN: 9781781958001
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
'Peter Ordeshook is an outstanding scholar and is addressing a very important question. As he points out on the first page of Chapter 1, social norms do exist and are adhered to, constitutions survive, people cooperate with others in some settings, but not in others. The topic of this book is very exciting and important - this is a real winner.' - Elinor Ostrom, Indiana University, US Marianna Klochko and Peter Ordeshook address an under-studied issue from rational choice theory - the common assumption that individual time preferences are exogenous and fixed. They then present empirical evidence to suggest that this is not the case, exploring a computer simulation model that allows for the evolutionary change of time preferences. This is done, moreover, in the context of social networks that are themselves endogenously determined.
