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Author: Lavan Mahadeva
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Book Description
Author: Lavan Mahadeva
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
Get Book Here
Book Description
Author: Lavan Mahadeva
Publisher:
ISBN:
Category : Capital
Languages : en
Pages : 32
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Book Description
Author: Michael Bräuninger
Publisher: Springer Science & Business Media
ISBN: 3642574203
Category : Business & Economics
Languages : en
Pages : 186
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Book Description
This book considers public debt dynamics in various endogenous growth mod els, namely the AK model and explicit models of innovation and human cap ital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus is on budget deficit and public debt dynamics and their influence on capital growth and output growth. Then, in the open economy model, the effects on foreign debt growth are considered. In a two-country setting, public debt growth in one country affects growth in the other country. In each scenario the government either fixes the deficit ratio or the tax rate. For both strategies the steady state is derived and stability is analysed. Then, dynamics induced by various shocks and policy measures are explored. Many diagrams illustrate the dynamics. I greatly benefited from comments by Michael Carlberg. In addition, Alkis Otto and Justus Haucap discussed with me many parts of the book. I wish to thank them all. Hamburg, February 2003 Michael Briiuninger Contents 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . Part I The Closed Economy with AK Production 2 The Solow Model. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . 2. 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2. 2 Fixing the Deficit Ratio. . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . 2. 2. 1 The Model. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . 2. 2. 2 Stability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 2. 2. 3 Some Shocks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 . . . . . . . . . 2. 2. 4 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 2. 3 Fixing the Tax Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 . . . . . . . . . 2. 3. 1 The Model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 2. 3. 2 Stability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 2. 3. 3 Some Shocks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 . . . . . . . . . 2. 3. 4 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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: Dipankar Dasgupta
Publisher: Oxford University Press
ISBN: 0199088349
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
This book deals with Growth Theory, an important subject taught as a part of economic theory. Amongst other topics, it introduces the literature on growth and inequality as well as a major critique of growth economics by Charles Jones. These issues remained unaddressed in an earlier volume by the author, Growth Theory: Solow and His Modern Exponents (OUP 2005). Developed on the earlier work, the present volume focuses on: long run growth growth and infrastructure taxation policies for growth human capital formation a unified theoretical framework to help students travel from the world of old growth theory to modern growth theory intuitive as well as rigorous development of optimal control theory using undergraduate mathematical tools analysis of India's long term growth experience. For an interactive platform on updates and queries on the book and clarifications by the author, please visit the Discussion Forum: Modern Growth Theory, OUP, 2010 at this URL http:--economicsteaching.wordpress.com-2010-10-28-modern-growth-theory-
Author: Alfred Greiner
Publisher: Springer
ISBN: 3319093487
Category : Business & Economics
Languages : en
Pages : 284
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Book Description
Public debt has become a severe problem for a great many economies. While the effects of tax policies on the allocation of resources are readily derived, the mechanisms that make public deficits and debt influence the economy are not so easily understood. This book elaborates on the effects of public debt starting from the intertemporal budget constraint of the government. It is shown under which conditions a government can stick to the intertemporal budget constraint and then, demonstrated how public debt affects the growth process and welfare in market economies. The effects are derived for models with complete labor markets as well as taking into account labor market imperfections. The focus in this book is on fiscal policy issues, but it also deals with monetary policy aspects. The theoretical analysis is complemented with empirical time series analyses on debt sustainability and with panel studies dealing with the relationship between public debt and economic growth.
Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author: Federico Etro
Publisher: Springer Science & Business Media
ISBN: 3540874275
Category : Business & Economics
Languages : en
Pages : 363
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Book Description
This is a key year for the evolution of international markets. The global economy is experiencing the most severe downturn since the thirties, it is temporarily leaving a path of sustained growth that characterized the last decades, and is facing an impressive decline of trade between countries. Banks are going bankrupt, the stock market has crashed, rms are going out of bu- ness or drastically reducing their production and exports, workers are being red and investment in new business creation or innovation is shrinking. Meanwhile, consumers con dence has dropped at its minimum, aggregate demand has been declining for months and expansionary policies and int- national coordination have failed to counteract the crisis until now. It is quite likely that all this will change sooner or later, but at the end of this crisis our understanding of the macroeconomy may change as well. In front of these crucial events, this book is not an attempt at proposing a radically new way of interpreting macroeconomic phenomena, and, as a m- ter of fact, it is not even a book on macroeconomic theory. My more modest goal is to collect a number of insights derived from recent research on the role of competition and innovation in the analysis of three topics: business cycles, trade and growth through innovations.
Author: Dipankar Dasgupta
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
This presentation of some recent advances in growth theory is motivated by two considerations. First, the works addressed by the book have not received uniform treatment in standard references. It presents a self-contained development of the subject matter including an exposition of the basic mathematics needed to study the subject. At the same time the different concepts are presented with reference to a common platform. Since economics students are exposed to the tools of supply and demand starting from the most elementary of courses, it is expected that they will readily grasp the message of modern growth theory when presented in this familiar language. A second consideration is the emphasis the book accords to the role played by externalities as in the case of most public goods where technological changes generate non-internalisable externalities which constitute one of the primary reasons for the failure of the competitive market system. The failures lead to a natural quest for policies to sustain efficient solutions with minimal interventions by the government.
Author: Alfred Greiner
Publisher: Springer Science & Business Media
ISBN: 3642017452
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether empirical evidence for that rule can be found. Additional tests are implemented to gain further evidence on sustainability of public debt. In order to allow for time varying coefficients penalized spline estimations are performed. The theoretical chapters present endogenous growth models and assume that the primary surplus rises as public debt increases so that sustainability of public debt is given. Implications of public deficits and debt are studied assuming full employment and for unemployment. The conclusion summarizes the findings and compares the results of the different models. Finally, policy implications are given showing how governments should deal with high public debt to GDP ratios.
