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Author: Jaime De Melo
Publisher: World Bank Publications
ISBN:
Category : Exports
Languages : en
Pages : 47
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Book Description
A model for export- led growth that captures structural change, growth in productivity, and growth in the share of trade.
Author: Jaime De Melo
Publisher: World Bank Publications
ISBN:
Category : Exports
Languages : en
Pages : 47
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Book Description
A model for export- led growth that captures structural change, growth in productivity, and growth in the share of trade.
Author: R. J. Colwell
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Concepts in banking output and the empirical literature on bank productivity--which employs output concepts--are critically surveyed. Related issues concerning externalities from banking activity, which entail a deviation of private from social measures of banking output, are outlined. For output, the national accounts, production and intermediation approaches are compared. As regards productivity, both partial and total factor productivity measures and the DEA and parametric approaches to the latter are assessed. The externalities from banking are shown to include contributions to economic development, external economies of scale between institutions, and contagious effects of failures. Among the most striking results is the prevalence of technical inefficiency in banking. In addition, externality issues are rarely considered in combination nor assessed empirically. But more generally, it is also suggested that measurement techniques have often outpaced the theory of what is to be measured, notably in fields such as joint production, risk and competition. Alternative approaches to address these issues are suggested.
Author: Jaime de Melo
Publisher:
ISBN:
Category :
Languages : en
Pages : 84
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Book Description
Author: Roy Cordato
Publisher: Ludwig von Mises Institute
ISBN: 1610164636
Category : Austrian school of economics
Languages : en
Pages : 164
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Book Description
"The problem of externalities and efficiency is cited relentlessly in mainstream literature as the great rationale for government intervention. The Austrian School, however, rooted in an understanding of the competitive process, takes another approach: viewing these supposed problems as having market-based solutions. In Efficiency and Externalities in an Open-Ended Universe, author Roy Cordato elucidates the Austrian view and expands it. He relies strongly on the work of Murray Rothbard and Israel Kirzner to address the modern arguments, showing that there is no standard by which we can judge efficiency apart from the market standard, and no way to adjudicate property rights apart from exchange relationships. This is an important contribution to Austrian literature, the most thorough and extensive study on a topic that is generally treated as a blank check for government to run roughshod over market institutions. No serious student of the market process can afford not to absorb the analytics and lessons of this book." -- from Mises Institute website
Author: Alison L. Booth
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 36
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Book Description
Author: Ronald Wendner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper investigates the effects of ("keeping up with the Joneses" and "learning-by-investing") externalities, when labor productivity decreases with age. Within the framework of a continuous time overlapping generations model, the effects of the consumption externality on the propensity to consume, capital level and individual consumption growth rates are ambiguous and depend on the presence (absence) and sign of the "generation replacement effect" (GRE). The sign of the GRE is determined by the rate at which labor productivity declines. Both externalities generate distortions - even with exogenous labor supply. Depending on the sign of the GRE, in case of a production externality, the consumption externality may raise efficiency by introducing an additional distortion. For a specific rate of labor productivity decline the GRE vanishes. In this case, externalities display the same effects in both a representative agent and the overlapping generations model.
Author: Cristiano Antonelli
Publisher: Edward Elgar Publishing
ISBN: 9780857930828
Category : Technology & Engineering
Languages : en
Pages : 233
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Book Description
This book elaborates a new path dependent and localized growth theory based upon knowledge externalities by making two important contributions. Firstly, it elaborates the hypothesis that total factor productivity growth stems from pecuniary knowledge externalities that consist in the access to localized external knowledge, at costs that are below equilibrium levels. Secondly, it implements the economic analysis of complex dynamic systems with a novel approach to understanding the role of knowledge interactions and knowledge governance mechanisms in the generation of new technological knowledge within economic systems characterized by webs of interdependence.
Author: Antonio Ciccone
Publisher: Fundacion BBVA
ISBN:
Category : Human capital
Languages : en
Pages : 73
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Book Description
Author: Susana Iranzo
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
The recent literature on local schooling externalities in the U.S. is rather mixed: positive external effects of average education levels are hardly to be found but, in contrast, positive externalities from the share of college graduates can often be identified. This paper proposes a simple model to reconcile this mixed evidence. The key idea is that advanced technologies are complementary to highly educated workers, as opposed to traditional technologies which are complementary to less educated workers. Our calibrated model predicts that workers with high school education or less are employed in the traditional sector, while more educated workers are employed in the advanced sector. As the advanced sector is associated with the production of differentiated goods and services this generates a positive pecuniary externality (positive TFP effect) of college educated workers. By contrast, as no externalities are associated with the traditional technology, high school education only increases private returns. The model predictions are tested using data on U.S. states. We use compulsory attendance and child labor laws, push-driven immigration of highly educated workers and the location of Land Grant colleges as instruments for schooling attainments of workers in different states. The empirical estimates confirm that an increase in college education, but not an increase in high school education, had significant positive production externalities in U.S. states during the period 1960-2000.
Author: Parkash Chander
Publisher: Springer Science & Business Media
ISBN: 0387255346
Category : Business & Economics
Languages : en
Pages : 587
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Book Description
The 22 papers in this volume illustrate the itinerary of Henry Tulkens on the occasion of his retirement from teaching. The volume presents contemporary analysis of Tulkens’ classic papers on public sector economics. The collection is structured in four parts: I. Decentralized resource allocation processes for public and private goods - II. Environment, public goods and externalities - III. Efficiency analysis - IV. Fiscal competition and optimality.
