Growth Through Heterogeneous Innovations PDF Download

Author: Ufuk Akcigit
Publisher:
ISBN:
Category :
Languages : en
Pages : 54

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Book Description
We study how external versus internal innovations promote economic growth through a tractable endogenous growth framework with multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in external R&D to acquire new product lines and in internal R&D to improve their existing product lines. A baseline model derives the theoretical implications of weaker scaling for external R&D versus internal R&D, and the resulting predictions align with observed empirical regularities for innovative firms. Quantifying a generalized model for the recent U.S. economy using matched Census Bureau and patent data, we observe a modest departure for external R&D from perfect scaling frameworks.

Author: John Fletcher
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 640

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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 9781589061231
Category : Business & Economics
Languages : en
Pages : 250

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This paper reports for uncovered interest parity (UIP) using daily data for 23 developing and developed countries during the crisis-strewn 1990s. UIP is a classic topic of international finance, a critical building block of most theoretical models, and a dismal empirical failure. UIP states that the interest differential is, on average, equal to the ex post exchange rate change. UIP may work differently for countries in crisis, whose exchange and interest rates both display considerably more volatility. This volatility raises the stakes for financial markets and central banks; it also may provide a more statistically powerful test for the UIP hypothesis. Policy-exploitable deviations from UIP are, therefore, a necessary condition for an interest rate defense. There is a considerable amount of heterogeneity in the results, which differ wildly by country.

Author: Peterson Institute for International Economics
Publisher: Peterson Institute
ISBN: 9780881323887
Category : Business & Economics
Languages : en
Pages : 496

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Book Description
Perhaps the most popular of all Institute products, selected Working Papers are now available for the first time in a print format. These papers contain the preliminary results of ongoing Institute research. The book is divided into four sections: Trade and the Global Economy, Outsourcing, Asia, and the Middle East. Included in the book are papers by Edwin M. Truman, Morris Goldstein, Gary Clyde Hufbauer, Nicholas R. Lardy, Catherine L. Mann, and Marcus Noland. Volume I contains papers from 2005. Future volumes will be published on a semi-regular schedule as material is available.

Author: Eric A. Hanushek
Publisher: Brookings Institution Press
ISBN: 0815717687
Category : Political Science
Languages : en
Pages : 224

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Book Description
Educational reform is a big business in the United States. Parents, educators, and policymakers generally agree that something must be done to improve schools, but the consensus ends there. The myriad of reform documents and policy discussions that have appeared over the past decade have not helped to pinpoint exactly what should be done. The case for investment in education is an economic one: schooling improves the productivity and earnings of individuals and promotes stronger economic growth and better functioning of society. Recent trends in schooling have, however, lessened the value of society's investments as costs have risen dramatically while student performance has stayed flat or even fallen. The task is to improve performance while controlling costs. This book is the culmination of extensive discussions among a panel of economists led by Eric Hanushek. They conclude that economic considerations have been entirely absent from the development of educational policies and that economic reality is sorely needed in discussions of new policies. The book outlines an improvement plan that emphasizes changing incentives in schools and gathering information about effective approaches. Available research and analysis demonstrates that current central decisionmaking has worked poorly. Concentrating on inputs such as pupil-teacher ratios or teacher graduate degrees appears quite inferior to systems that directly reward performance. Nonetheless, since experience with such alternatives is very limited, a program of extensive evaluation appears to be in order. Attempts to institute radical change on the basis of currently available information involve substantial risks of failure. Many people today find proposals such as charter schools, expanded use of merit pay, or educational vouchers to be appealing. Yet there is little evidence of their effectiveness, and widespread adoption of these proposals is sure to run into substantial problems of im

Author: Brigitte Madrian
Publisher: OUP Oxford
ISBN: 019152817X
Category : Business & Economics
Languages : en
Pages : 346

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Book Description
As the leading edge of the 'Baby Boom' generation attains age 60, members of this unusually large cohort born 1946-66 are poised to redefine retirement - just as they have restructured educational, housing, and labor markets in prior days. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. Contributors to this volume note that 'Boomers' will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management. This volume paints a complex and fascinating picture as Boomers move into retirement. On average they are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. Contributors to the volume use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Analysts offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy. This book offers readers an invaluable and first book-length study of Boomers as they march into retirement. As such, it represents an invaluable addition to the Pension Research Council/Oxford University Press series. It will be especially useful for scholars and policymakers seeking to understand retirement preparedness, to actuaries and tax specialists concerned with retirement system regulation, and to plan sponsors interested in the determinants of work and retirement at older ages.

Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Social Security, Pensions, and Family Policy
Publisher:
ISBN:
Category : Retirement income
Languages : en
Pages : 128

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Author: Yasuyuki Fuchita
Publisher: Brookings Institution Press
ISBN: 0815729847
Category : Business & Economics
Languages : en
Pages : 242

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A Brookings Institution Press and Nomura Institute of Capital Markets Research publication New financial instruments—such as structured financial products and exchange-traded funds—and new financial institutions—including hedge funds and private-equity funds—present opportunities as well as policy and regulatory challenges in U.S. and Japanese financial markets. This book presents cutting-edge research from experts in academia and the financial industry on new instruments and new institutions while contrasting their developments in the different countries. The contributors highlight the innovative way in which Japanese financiers and government officials have learned from the U.S. regarding the introduction of new instruments into their market. New Financial Instruments and Institutions continues the productive collaboration between the Brookings Institution and the Nomura Institute of Capital Markets Research in examining current issues in capital and financial markets. Contributors include Jennifer Bethel (Babson College),Todd Broms (Managed ETFs, LLC), Frank Edwards (Columbia Business School), Allen Ferrell (Harvard Law School),Yasuyuki Fuchita (Nomura Institute of Capital Markets Research), Gary Gastineau (Managed ETFs, LLC), Ken Lehn (University of Pittsburgh), Josh Lerner (Harvard Business School), Frank Partnoy (University of San Diego Law School), Adam Posen (Institute for International Economics), Ken Scott (Stanford Law School), Steve G. Segal (Boston University, J.W. Childs Associates),Yuta Seki (Nomura Institute of Capital Markets Research, New York), Erik Sirri (Babson College), and Randall Thomas (Vanderbilt Law School).

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 120

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Author: United States. Department of Housing and Urban Development
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 834

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