Equilibrium In The Growth Model With An Endogenous Labor Leisure Choice
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Optimal Human Investment Allocation
Author | : Wempi Saputra |
Publisher | : |
Total Pages | : 4 |
Release | : 2009 |
Genre | : |
ISBN | : |
This paper presents an analysis of government spending and optimal human investment allocation rate in the two sector model of an endogenous growth (education and good sectors), by comparing solutions between social planner maximization problem and decentralized competitive equilibrium, and by considering two types of utility functions: the Constant Inter-temporal Elasticity of Substitution (CIES) and the Constant Elasticity of Substitution (CES) with labor-leisure choice. The results show that the optimal rate of human investment allocation depends on the elasticity of inter-temporal substitution in which it describes insignificant changes when we use CIES or CES. Moreover, the optimal rate of human investment allocation both in social planner as well as decentralized competitive equilibrium are equivalent which suggest that Pareto optimum is prevailed.
Growth and Business Cycles with Equilibrium Indeterminacy
Author | : Kazuo Mino |
Publisher | : Springer |
Total Pages | : 240 |
Release | : 2017-07-11 |
Genre | : Business & Economics |
ISBN | : 4431556095 |
Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules. The book also considers equilibrium indeterminacy in open economy models.
Capital Accumulation and Economic Growth in a Small Open Economy
Author | : Stephen J. Turnovsky |
Publisher | : Cambridge University Press |
Total Pages | : 255 |
Release | : 2009-08-20 |
Genre | : Business & Economics |
ISBN | : 0521764750 |
An investigation of the process of economic growth in a small open economy by one of the world's leading economists.
Frontiers of Business Cycle Research
Author | : Thomas F. Cooley |
Publisher | : Princeton University Press |
Total Pages | : 452 |
Release | : 1995-02-26 |
Genre | : Business & Economics |
ISBN | : 9780691043234 |
This introduction to modern business cycle theory uses a neoclassical growth framework to study the economic fluctuations associated with the business cycle. Presenting advances in dynamic economic theory and computational methods, it applies concepts to t
Human Capital, Trade, and Public Policy in Rapidly Growing Economies
Author | : Michele Boldrin |
Publisher | : Edward Elgar Publishing |
Total Pages | : 328 |
Release | : 2004-01-01 |
Genre | : Business & Economics |
ISBN | : 9781782542001 |
Human Capital, Trade and Public Policy in Rapidly Growing Economies argues that only two centuries ago, no society had ever enjoyed sustained growth in living standards. The contributors to this book aim to discover why the world today exhibits a predilection for perpetual self-improvement. In particular, the book focuses on the forces underlying long-lasting growth in East Asia's Newly Industrialized Countries (NICs). Drawing from the experiences of Hong Kong, South Korea, Singapore and Taiwan, it questions whether public policy can contribute to removing barriers towards accumulation of wealth, and if so, what development policy should be put in place to remedy the existing distortions or market failure problems.
Economic Growth, second edition
Author | : Robert J. Barro |
Publisher | : MIT Press |
Total Pages | : 676 |
Release | : 2003-10-10 |
Genre | : Business & Economics |
ISBN | : 9780262025539 |
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.
A General Equilibrium Model for Tax Policy Evaluation
Author | : Charles L. Ballard |
Publisher | : University of Chicago Press |
Total Pages | : 275 |
Release | : 2009-05-15 |
Genre | : Business & Economics |
ISBN | : 0226036332 |
This book reports the authors' research on one of the most sophisticated general equilibrium models designed for tax policy analysis. Significantly disaggregated and incorporating the complete array of federal, state, and local taxes, the model represents the U.S. economy and tax system in a large computer package. The authors consider modifications of the tax system, including those being raised in current policy debates, such as consumption-based taxes and integration of the corporate and personal income tax systems. A counterfactual economy associated with each of these alternatives is generated, and the possible outcomes are compared.