Author: Isidoro Adolfo MazzaPublisher: Rozenberg Publishers
ISBN: 9036100984
Category :
Languages : en
Pages : 96
Book Description
Essays on endogenous economic policy
Author: Isidoro Adolfo MazzaPublisher: Rozenberg Publishers
ISBN: 9036100984
Category :
Languages : en
Pages : 96
Book Description
Three Essays on Endogenous Growth and the Environment
Author: Elamin H. ElbashaGrowth and Economic Development
Author: P. ArestisPublisher: Edward Elgar Publishing
ISBN: 1847204082
Category : Business & Economics
Languages : en
Pages : 307
Book Description
. . . this volume is a very good and important addition to economic growth and development. On the basis of authority, the selection is well-balanced. . . This book should be a mandatory textbook for graduate students in development economics, and essential reading for all policy-makers. Voxi Heinrich Amavilah, Progress in Development Studies This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole. From his early pioneering research in regional and labour economics to his more recent exploration of growth and development economics, leading experts in the field bear witness to the significant role he has played in the evolution of the discipline. In addressing some of the most pivotal aspects of his career, the contributors cover a range of topics including Thirlwall s Law , the application of Keynesian macroeconomic approaches, the General Theory within open economies, the connection between short-run cycles and long-run growth, endogenous growth theory, the Stability and Growth Pact, as well as broader development issues and problems. In championing Thirlwall s challenging work, this volume provides a lively and comprehensive account of some of the most important areas of economics today. This book will prove an essential read for academics and policy makers alike who are interested in trade, growth and development economics.
Endogenous Growth Theory
Author: Lill Thanning HansenPublisher:
ISBN:
Category :
Languages : en
Pages : 100
Book Description
Trade, Growth, and Economic Policy in Open Economies
Author: Karl-Josef KochPublisher: Springer Science & Business Media
ISBN: 3662004232
Category : Business & Economics
Languages : en
Pages : 398
Book Description
Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.
Three Essays on the Endogenous Growth of a Regional Economy Under the Impacts of Demographic Changes
Author: Tae-Jeong KimPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The impact of an ageing population on the economy is one of the key issues in most developed countries. It is a generally accepted notion that an ageing population could cause negative effects, including a decrease of per-capita output and economic welfare, on the economy mainly due to the decline of the labor force and aggregate saving rate. The first chapter adopts the two-sector overlapping generation (OLG) model to capture the impact of population ageing on the regional economy and compares the effectiveness of government policy in an endogenous growth perspective. Comparing the computational results of a one-sector OLG model where agent0́9s productivity is given exogenously, the simulation result confirms that endogenously determined investment in human capital significantly offsets the negative effects of the ageing population on the regional economy. The chapter also attempts to check if there is room for the government to weaken and prevent the negative effects of the ageing population. For this, this chapter examines the effects of two kinds of government transfer systems on the regional economy: money transfer and educational transfer systems. The money transfer, which is redistributed to agents by the government, could be used for an individual0́9s consumption, saving and educational investment. Educational transfer is given directly to the individual proportional to his or her opportunity cost stemming from education investment. The result shows that the educational transfer system is superior to money transfer system in the long-run in terms of growth of per-capita income, aggregate welfare and stabilizing the factor prices. However, the results imply that there exists a trade-off relationship in implementing an educational transfer system between economic growth and equity of income and wealth. The second chapter seeks to examine the effects of the ageing population in Illinois with inclusion of the household0́9s ex-ante intra-generational heterogeneity across race and migration status. For this, this chapter empirically shows that there are significant gaps in returns to education between race and migration status in Illinois; and there exists significant relationships between a resident0́9s demographics and the probability of in- and out- migration around Illinois. These empirical results, including heterogeneous properties across race and migration status and demographic- related migration tendency, are calibrated into the two-sector OLG model. Using this two-sector OLG model incorporated with the intra-generational heterogeneity over race and migration status, this chapter projects the economic growth of Illinois will decelerate substantially until the mid 2020s due to population ageing. After that time, the growth of Illinois will partially recover. The major economic problems of the ageing era stem from the deficiency of the labor force. Also the Black0́9s unemployment rate tends to be substantially high in Illinois. Taking the two labor market- related problems of ageing population and high Black0́9s unemployment into consideration, the government could implement a labor policy measure aiming at increasing the employment rate of the Black to the level of the other races through the absorption of the unemployed Blacks by offering industry subsidies or incentives. However, the result shows that an indirect educational policy, targeting the upgrading of the transmission channel of human capital stock from the old generation to the young generation of the Black, is more preferable than the direct employment policy in terms of long-run effects on per-capita income and social welfare. Also, this chapter shows that the effects of the government0́9s immigration policy, which aims at replacing low-productive international immigrants with native, relatively high-productive unemployed individuals who have been unemployed, are very limited in terms of per-capita income, welfare and aggregate productivity. On the contrary, tax and transfer policy inducing international immigrants to invest more in their education works relatively better. Furthermore, under this policy scheme, the native0́9s human capital stock also improves significantly because of positive spillover effects even though the transfer system0́9s direct beneficiary is the international immigrant group. The third chapter attempts to project the economic paths for the individual Midwest states (Illinois, Indiana, Michigan, Ohio and Wisconsin, as well as the Rest of the US) in the future when the population ageing becomes more pronounced. To accomplish this task, a dynamic general equilibrium model is developed so that it could incorporate the inter-regional transactions and endogenous growth mechanisms within the framework of an OLG model. Key parameter values associated with the regional interconnections were assigned by using multi-regional Social Accounting Matrix (SAM) of the Midwest states. Two different steady-state results were presented with the two different age-cohort population structures corresponding to year 2007 and 2030. These steady-state results imply that there should be considerable negative impacts on the regional economies in the sense of declining per-capita output. The rate of declining of per-capita output are projected to be heterogeneous across the regions due to the different developments of age-cohort population structures and consequently different levels of endogenously determined educational investment of workers. Furthermore, the regions could be grouped separately according to the levels of average human capital stock of workers: high-skilled and low-skilled regions, being roughly consistent with actual labor productivity statistics. It is intuitive that the supply-demand interactions between the regions should be affected by developments of demographics in each region. This intuition is consistent with the simulation results in the sense that the result revealed the development of output price in a certain region reflects the dynamics of demographics of every region. Meanwhile, according to the dynamic simulation, the negative impacts of population ageing will not be so severe unlike what was presented in the steady-state results. This mitigation of negative effects could be attributed mainly to the growth of human capital stock of workers. The dynamic simulation results reveal that the per-capita output of every region is projected to grow positively in the near future when the population ageing will be pronouncing. However, the growth rate of the per-capita output is projected to be heterogeneous across the regions: the regions with high-skilled workers hold the potential threat that population ageing could give more negative impacts on the economy due to the relatively sluggish growth of human capital stock. Also, the dynamic simulation results show that certain regions in Midwest will experience their terms-of-trade deteriorate in the near future, implying that careful attention should be given to their future trade conditions.
The Quality of Society, Volume III
Author: Adolfo FigueroaPublisher: Springer Nature
ISBN: 3031210727
Category : Political Science
Languages : en
Pages : 301
Book Description
This book contains another set of essays dealing with the fundamental economic problems of our time: inequality, environment degradation, and social disorder, which are analyzed in light of the unified theory of capitalism. This theory is a scientific endeavor that seeks to explain the capitalist system taken by parts and then taken as a whole, as a unified theory. By parts, the theory analyzes the First World and the Third World and also the short run, long run, and very long run economic processes, showing why and how economic growth has led to a new epoch, with ecological equilibrium disruption, known as the Anthropocene Age. The empirical predictions of the theory are proven to be consistent with the available facts. Therefore, the theory can be accepted as a good representation of the real-world capitalism; moreover, its derived causality relations become inputs for the debate on the needed science-based policies for the new age. Indeed, this book proposes structural policies to change the way capitalism operates, through changes in its basic institutions, mainly the electoral democracy, which would certainly imply a re-foundation of the capitalist system.
Productivity Growth and Economic Performance
Author: J. McCombiePublisher: Springer
ISBN: 023050423X
Category : Business & Economics
Languages : en
Pages : 293
Book Description
This collection of essays on Verdoorn's Law - the relationship between the growth of industrial productivity and output - presents a number of comprehensive surveys and assessments of the vast literature available. The collection not only includes an English translation of Verdoorn's seminal article originally published in Italian, but also new empirical evidence for the Verdoorn Law and new developments in the theoretical modelling of cumulative causation.
Microeconomics, Macroeconomics and Economic Policy
Author: P. ArestisPublisher: Springer
ISBN: 0230313752
Category : Business & Economics
Languages : en
Pages : 316
Book Description
Microeconomics, Macroeconomics and Economic Policy are at the core of research and study in economics. The essays in this volume have been specifically commissioned and brought together to celebrate the work of Malcolm Sawyer, who has made substantial contributions in these areas.
Complexity, Endogenous Money and Macroeconomic Theory
Author: Mark SetterfieldPublisher: Edward Elgar Publishing
ISBN: 1847203116
Category : Business & Economics
Languages : en
Pages : 437
Book Description
That the chapters in the volume cover such a wide range of important, often fundamental, topics is a proper tribute to Basil Moore s influence and contributions over his working life. From the foreword by G.C. Harcourt, Jesus College, Cambridge, UK During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the horizontalist analysis of endogenous money. More recently, he has embraced complexity theory as part of an ongoing effort to understand macroeconomics as an evolving, path-dependent process. This book celebrates and explores Basil Moore s interests in and contributions to monetary and macroeconomic theory. Complexity, Endogenous Money and Macroeconomic Theory features original essays by internationally acclaimed and expert authors. It comprises a selection of papers on five distinct but interrelated themes: economic concepts, tools and methodology; complexity, uncertainty and path dependence; the macroeconomics of endogenous money; the macroeconomics of exogenous interest rates; and unemployment, inflation and the determination of aggregate income. These papers combine to provide a comprehensive methodological and theoretical discussion of the macroeconomics of a monetary production economy. The book will be of interest to professionals and research students in the fields of macroeconomics and monetary economics especially those with an interest in the Post Keynesian approach to analyzing these fields, including the wide audience that has been reached by the contributions of Basil Moore himself.