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Displaying results 1 to 25 of 102.

  1. Is regional innovative activity path-dependent?
    an empirical analysis for Germany
    Author: Bode, Eckhardt
    Published: 2001
    Publisher:  Inst. of World Economics, Kiel

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  2. Is regional innovative activity path-dependent? An empirical analysis for Germany
    Author: Bode, Eckhardt
    Published: 2001
    Publisher:  Kiel Institute for the World Economy (IfW), Kiel

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  3. Optimal policy with R&D-based growth and the risk of environmental disaster
    Author: Palokangas, Tapio K.
    Published: November 2023
    Publisher:  Helsinki Graduate School of Economics, Helsinki

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    Language: English
    Media type: Ebook
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    ISBN: 9789527543184
    Series: Helsinki GSE discussion papers ; 19 (2023)
    Subjects: emissions; pollution; R&D; endogenous growth; environmental disaster; precautionary policy
    Scope: 1 Online-Ressource (circa 25 Seiten)
  4. Technological change, human capital structure, and multiple growth paths
    Author: Kim, Yong Jim; Lee, Jong-Wha
    Published: 2009
    Publisher:  Asian Development Bank, Manila, Philippines

    This paper presents a theoretical model to analyze the effects of technology change on growth rates of income and human capital in the uncertain environments of technology. The uncertainty comes from two sources; the possibility of a technology... more

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    This paper presents a theoretical model to analyze the effects of technology change on growth rates of income and human capital in the uncertain environments of technology. The uncertainty comes from two sources; the possibility of a technology advance and the characteristics of new technologies. We set up an overlapping generations model in which young agents invest in both width and depth of human capital in order to adopt new technologies. The model develops explicitly the micro-mechanism of the role of human capital in adopting new technologies as well as that of the process of human capital production in uncertain environments. In our model, a higher level for width of human capital relative to the level of depth leads one country to a higher growth path. We also show that an economy can have different growth paths depending on the initial structure of human capital and the uncertainty about the nature of new technologies. In particular, new technologies with more uncertain characteristics may adversely affect human capital accumulation and income growth, leading the economy to a low growth trap.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/109330
    hdl: 11540/1797
    Series: ADB economics working paper series / Asian Development Bank ; 149
    Subjects: Technischer Fortschritt; Technologiewahl; Humankapital; Wirtschaftswachstum; Overlapping Generations; Theorie; education; endogenous growth; human capital; technology adoption
    Scope: Online-Ressource (43 S., 648 KB)
  5. Endogenous growth and recycling
    a material balance approach
    Author: Pittel, Karen; Amigues, Jean-Pierre; Kuhn, Thomas
    Published: [2005]
    Publisher:  WIF, Institute of Economic Research, Zurich

    In this paper we analyze the importance of recycling in the strive for sustainable development. In contrast to former approaches we emphasize the role of the waste stock as a source of valuable inputs. We enhance a Romer (1990) type endogenous growth... more

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    In this paper we analyze the importance of recycling in the strive for sustainable development. In contrast to former approaches we emphasize the role of the waste stock as a source of valuable inputs. We enhance a Romer (1990) type endogenous growth model by a material balance condition that reflects the circulation of matter in the economy. Differentiated intermediate products are produced from recycled waste and virgin resources. These material intermediates are then employed in the production of final output. They either end up as waste after consumption or are bound in the capital stock - depending on the utilization of the produced output. We show that, even in the absence of environmental policy, long-run development is sustainable in this economy. The intuition is, that, as waste is a valuable resource in our model, not recycling part of it, cannot be optimal in the long-run.

     
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    Language: English
    Media type: Book
    Format: Online
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    Series: Working paper / WIF, Institute of Economic Research ; 05, 37 (February 2005)
    Subjects: Erschöpfbare Ressourcen; Kreislaufwirtschaft; Endogenes Wachstumsmodell; Nachhaltige Entwicklung; non-renewable resources; recycling; endogenous growth; sustainable development
    Scope: 1 Online-Ressource (circa 37 Seiten)
  6. Ageing, human capital and demographic dividends with endogenous growth, labour supply and foreign capital
    Author: Edle von Gäßler, Anne; Ziesemer, Thomas
    Published: 2017
    Publisher:  Maastricht Economic and Social Research Institute on Innovation and Technology (UNU‐MERIT), Maastricht, The Netherlands

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    Format: Online
    Series: Working paper series / United Nations University, UNU-MERIT ; #2017, 043
    Subjects: Ageing; human capital; endogenous growth; open economy; serendipity theorem
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  7. The serendipity theorem for an endogenous open economy growth model
    Author: Ziesemer, Thomas
    Published: 2018
    Publisher:  Maastricht Economic and Social Research Institute on Innovation and Technology (UNU‐MERIT), Maastricht, The Netherlands

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    Format: Online
    Series: Working paper series / United Nations University, UNU-MERIT ; #2018, 001
    Subjects: Open economy; endogenous growth; human capital; serendipity theorem; ageing
    Scope: 1 Online-Ressource (circa 12 Seiten), Illustrationen
  8. Immigration, innovation, and growth
    Author: Burchardi, Konrad B.; Chaney, Thomas; Hassan, Tarek A.; Tarquinio, Lisa; Terry, Stephen
    Published: 2020
    Publisher:  Boston University - Department of Economics, [Boston, MA]

    We show a causal impact of immigration on innovation and dynamism in US counties. To identify the causal impact of immigration, we use 130 years of detailed data on migrations from foreign countries to US counties to isolate quasi-random variation in... more

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    We show a causal impact of immigration on innovation and dynamism in US counties. To identify the causal impact of immigration, we use 130 years of detailed data on migrations from foreign countries to US counties to isolate quasi-random variation in the ancestry composition of US counties that results purely from the interaction of two historical forces: (i) changes over time in the relative attractiveness of different destinations within the US to the average migrant arriving at the time and (ii) the staggered timing of the arrival of migrants from different origin countries. We then use this plausibly exogenous variation in ancestry composition to predict the total number of migrants flowing into each US county in recent decades. We show four main results. First, immigration has a positive impact on innovation, measured by the patenting of local firms. Second, immigration has a positive impact on measures of local economic dynamism. Third, the positive impact of immigration on innovation percolates over space, but spatial spillovers quickly die out with distance. Fourth, the impact of immigration on innovation is stronger for more educated migrants

     
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    Series: [IED working papers] ; 339
    Subjects: migrations; innovation; patents; endogenous growth; dynamism
    Scope: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  9. Positional preferences and efficiency in a dynamic economy
    Author: Aronsson, Thomas; Ghosh, Sugata; Wendner, Ronald
    Published: February 2020
    Publisher:  Department of Economics, Department of Public Economics, University of Graz, Graz

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    Series: Graz economics papers ; GEP 2020, 01
    Subjects: Positional preferences; efficiency; intertemporal distortions; welfarist government; paternalist government; endogenous growth
    Scope: 1 Online-Ressource (circa 64 Seiten)
  10. Symbolic stationarization of dynamic equilibrium models
    Author: Canova, Fabio; Paulsen, Kenneth Sæterhagen
    Published: [2021]
    Publisher:  Norges Bank, Oslo

    Dynamic equilibrium models are specifted to track time series with unit root-like behavior. Thus, unit roots are typically introduced and the optimality conditions adjusted. This step requires tedious algebra and often leads to algebraic mistakes,... more

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    Dynamic equilibrium models are specifted to track time series with unit root-like behavior. Thus, unit roots are typically introduced and the optimality conditions adjusted. This step requires tedious algebra and often leads to algebraic mistakes, especially in models with several unit roots. We propose a symbolic algorithm that simpliftes the step of rendering non-stationary models stationary. It is easy to implement and works when trends are stochastic or deterministic, exogenous or endogenous. Three examples illustrate the mechanics and the properties of the approach. A comparison with existing methods is provided.

     
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    ISBN: 9788283792171
    Other identifier:
    hdl: 11250/2835495
    hdl: 10419/264937
    Series: Working paper / Norges Bank ; 2021, 18
    Subjects: DSGE models; unit roots; endogenous growth; symbolic computation
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  11. Growing like Google
    endogenous growth with global network
    Author: Córdoba Muñoz, Juan C.; He, Sicheng
    Published: July 16, 2021
    Publisher:  Iowa State University, Department of Economics, Ames, Iowa

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    Series: Working paper / Iowa State University, Department of Economics ; number 21009
    Subjects: Network externalities; endogenous growth; anti-trust policies
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  12. The financial resource curse revisited
    the supply-side effect of low interest rates
    Author: Hildebrandt, Simon; Michaelis, Jochen
    Published: [2022]
    Publisher:  Philipps-University Marburg, School of Business and Economics, Marburg

    Benigno and Fornaro (2014) show that an episode of low interest rates may harm an economy. Low interest rates trigger a consumption boom, labor shifts away from the tradable sector, learning spillovers from foreign technology decline and so do... more

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    Benigno and Fornaro (2014) show that an episode of low interest rates may harm an economy. Low interest rates trigger a consumption boom, labor shifts away from the tradable sector, learning spillovers from foreign technology decline and so do domestic total factor productivity, consumption and welfare. In this paper, we show that their conclusion of a financial resource curse does not hold in a world with capital as production factor. Low interest rates now trigger an investment boom, there is no shift of labor between sectors, total factor productivity remains unaffected. Our model confirms "textbook wisdom", i.e., an episode of low interest rates enhances welfare in a small open economy.

     
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    hdl: 10419/262321
    Series: Joint discussion paper series in economics ; no. 2022, 22
    Subjects: capital accumulation; endogenous growth; macroeconomic integration
    Scope: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  13. Hysteresis, endogenous growth, and monetary policy
    Author: Amador, Sebastián
    Published: [2022]
    Publisher:  [University of California, Davis, Department of Economics], [Davis, CA]

    I provide evidence of substantial hysteresis (i.e., a situation in which temporary shocks have longrun effects) from monetary shocks on two sources of endogenous growth; human capital and technological adoption. This contribution is the first to test... more

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    I provide evidence of substantial hysteresis (i.e., a situation in which temporary shocks have longrun effects) from monetary shocks on two sources of endogenous growth; human capital and technological adoption. This contribution is the first to test for the presence of this phenomenon in direct measures of the supply-side potential of economies, instead of indirect measures, e.g., TFP. To estimate the effects of exogenous monetary policy shocks, I improve on the the trilemma identification by incorporating a mean-unbiased instrumental variable estimator. Results show substantial hysteresis in both human capital and technological adoption. Importantly, these are found to be asymmetric, as only contractionary shocks result in long lasting responses. I evaluate the aggregate importance of monetary hysteresis with a growth accounting exercise. Across the 17 countries in sample, the accumulated average cost of monetary hysteresis ranges between 1.2 and 9.6% of TFP, for human capital and the adoption of electricity, respectively.

     
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    hdl: 10419/267012
    Series: [Working papers / University of California, Davis, Department of Economics ; 348]
    Subjects: hysteresis; money non-neutrality; endogenous growth
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  14. Symmetric Markovian games of commons with potentially sustainable endogenous growth
    Author: Hakobyan, Zaruhi; Koulovatianos, Christos
    Published: [2019]
    Publisher:  Center for Financial Studies, Goethe University, Frankfurt am Main, Germany

    Differential games of common resources that are governed by linear accumulation constraints have several applications. Examples include political rent-seeking groups expropriating public infrastructure, oligopolies expropriating common resources,... more

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    Differential games of common resources that are governed by linear accumulation constraints have several applications. Examples include political rent-seeking groups expropriating public infrastructure, oligopolies expropriating common resources, industries using speci…c common infrastructure or equipment, capital-flight problems, pollution, etc. Most of the theoretical literature employs speci…c parametric examples of utility functions. For symmetric differential games with linear constraints and a general time-separable utility function depending only on the player’s control variable, we provide an exact formula for interior symmetric Markovian-strategies. This exact solution, (a) serves as a guide for obtaining some new closed-form solutions and for characterizing multiple equilibria, and (b) implies that, if the utility function is an analytic function, then the Markovian strategies are analytic functions, too. This analyticity property facilitates the numerical computation of interior solutions of such games using polynomial projection methods and gives potential to computing modi…ed game versions with corner solutions by employing a homotopy approach.

     
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    hdl: 10419/213007
    Series: CFS working paper series ; no. 638
    CFS Working Paper ; No. 638, 2019
    Subjects: differential games; endogenous growth; tragedy of the commons; Lagrange-d’Alembert equation; analytic functions
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  15. Incorporating a job search & matching module in the QUEST-model
    Author: Raciborski, Rafał; Robledo Böttcher, Nicolas
    Published: 2019
    Publisher:  Publications Office of the European Union, Luxembourg

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    Format: Online
    ISBN: 9789279774447
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    Series: Array ; 107 (September 2019)
    Subjects: Search & matching; DSGE modelling; endogenous growth
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  16. Synergizing ventures
    Author: Akcigit, Ufuk; Dinlersoz, Emin Murat; Greenwood, Jeremy; Penciakova, Veronika
    Published: [2019]
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of... more

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    Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of reaching the right tails of the firm size and innovation distributions. Furthermore, outcomes are better for startups matched with more experienced venture capitalists. An endogenous growth model, where venture capitalists provide both expertise and financing for business startups, is constructed to match these facts. The presence of venture capital, the degree of assortative matching between startups and financiers, and the taxation of VC-backed startups matter significantly for growth.

     
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    Other identifier:
    hdl: 10419/207251
    Series: Array ; no. 7860 (September 2019)
    Subjects: Risikokapital; Börsengang; Endogenes Wachstumsmodell; Übernahme; Forschung; Unternehmensgründung; Synergie; venture capital; assortative matching; endogenous growth; IPO; management,mergers and acquisitions; research and development; startups; synergies; taxation; patents
    Scope: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  17. Synergizing ventures
    Author: Akcigit, Ufuk; Dinlersoz, Emin Murat; Greenwood, Jeremy; Penciakova, Veronika
    Published: August 2019
    Publisher:  National Bureau of Economic Research, Cambridge, MA

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    Series: Working paper series / National Bureau of Economic Research ; 26196
    Subjects: Risikokapital; Börsengang; Endogenes Wachstumsmodell; Übernahme; Forschung; Unternehmensgründung; Synergie; venture capital; assortative matching; endogenous growth; IPO; management; mergers and acquisitions; research and development; startups; synergies; taxation; patents
    Scope: 60 Seiten, Illustrationen
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  18. Positional preferences and efficiency in a dynamic economy
    Author: Aronsson, Thomas; Ghosh, Sugata; Wendner, Ronald
    Published: January 30, 2020
    Publisher:  Department of Economics, Umeå University, Umeå, Sweden

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    Series: Umeå economic studies ; 969
    Subjects: Positional preferences; efficiency; intertemporal distor-tions; welfarist government; paternalist government; endogenous growth
    Scope: 1 Online-Ressource (circa 60 Seiten)
  19. Output hysteresis and optimal monetary policy
    Author: Garga, Vaishali; Singh, Sanjay R.
    Published: [2019]
    Publisher:  Federal Reserve Bank of Boston, [Boston, MA]

    We analyze the implications for monetary policy when deficient aggregate demand can cause a permanent loss in potential output, a phenomenon we term output hysteresis. In the model, the incomplete stabilization of a temporary shortfall in demand... more

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    We analyze the implications for monetary policy when deficient aggregate demand can cause a permanent loss in potential output, a phenomenon we term output hysteresis. In the model, the incomplete stabilization of a temporary shortfall in demand reduces the return to innovation, thus reducing total factor productivity growth and generating a permanent loss in output. Using a purely quadratic approximation to welfare under endogenous growth, we derive normative implications for monetary policy. Away from the zero lower bound (ZLB), optimal commitment policy sets interest rates to eliminate output hysteresis. A strict inflation targeting rule implements the optimal policy. However, when the nominal interest rate is constrained at the ZLB, strict inflation targeting is suboptimal and admits output hysteresis. A new policy rule that targets output hysteresis returns output to its pre-shock trend and approximates the welfare gains under optimal commitment policy. A central bank that is unable to commit to future policy actions suffers from hysteresis bias, as the bank's inconsistent policy does not offset past losses in potential output.

     
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    hdl: 10419/227934
    Edition: This version: December, 2019
    Series: Working papers / Federal Reserve Bank of Boston ; no. 19, 19
    Subjects: endogenous growth; zero lower bound; output hysteresis; optimal monetarypolicy
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  20. Do we still need carbonIntensive capital when transitioning to a green economy?
    Author: Jin, Wei; Ploeg, Frederick van der; Zhang, Lin
    Published: December 2020
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    This paper presents a two-sector green endogenous growth model to explore a mechanism that explains why carbon-intensive capital is not necessarily shut down during transition to a green economy. Without accumulating clean capital to offset carbon... more

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    This paper presents a two-sector green endogenous growth model to explore a mechanism that explains why carbon-intensive capital is not necessarily shut down during transition to a green economy. Without accumulating clean capital to offset carbon emissions, a tightening of climate regulation leads to the running down of carbon-intensive capital. However, if climate regulations induce stepping-up of carbon-free capital to offset warming damages, the economic value of carbon-intensive capital can be protected and the running down of carbon-intensive assets can be mitigated. The use of carbon-intensive capital gives the economic means to enhance clean capital accumulation and sustain endogenous growth. Both carbon-intensive and carbon-free capital may thus be needed for an efficient transition to green growth.

     
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    hdl: 10419/229563
    Series: CESifo working paper ; no. 8745 (2020)
    Subjects: endogenous growth; green growth; two-sector growth model; climate policy
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  21. Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
    Author: Lechthaler, Wolfgang; Tesfaselassie, Mewael F.
    Published: [2021]
    Publisher:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great Recession: a... more

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    We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the "missing disinflation puzzle"), and a permanent gap between output and the pre-crisis trend output. In the model, lower aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders learning-by-doing, which slows down human capital accumulation, feeding back into even fewer vacancies than justified by the demand shock alone. These feedback channels mitigate the disinflationary effect of the demand shock while amplifying its contractionary effect on output. The temporary growth slowdown translates into output hysteresis (permanently lower output and labor productivity).

     
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    hdl: 10419/228742
    Series: Working paper series / Institute for Monetary and Financial Stability ; no. 149 (2021)
    Subjects: endogenous growth; search and matching; unemployment; nominal rigidity; output hysteresis; monetary policy
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  22. Directed technical change, environmental sustainability, and population growth
    Author: Kruse-Andersen, Peter K.
    Published: [2019]
    Publisher:  Department of Economics, University of Copenhagen, Copenhagen, Denmark

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 572
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion papers / Department of Economics, University of Copenhagen ; no. 19, 12
    Subjects: Directed technical change; endogenous growth; environmental policy; environmental sustainability; climate change; population growth
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  23. A theory of heterogeneous city growth
    Author: Ghiglino, Christian; Nishimura, Kazuo; Venditti, Alain
    Published: [2020]
    Publisher:  Aix-Marseille School of Economics, [Aix-en-Provence

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    VS 717
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: Working papers / AMSE, Aix-Marseille School of Economics ; WP 2020, nr 02
    Subjects: Urban dynamics; human capital; endogenous growth; heterogeneous growth rates; city inequalities
    Scope: 1 Online-Ressource (circa 17 Seiten), Illustrationen
  24. The scars of supply shocks
    Author: Fornaro, Luca; Wolf, Martin
    Published: October 2020
    Publisher:  Universitat Pompeu Fabra, Department of Economics and Business, Barcelona

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Economic working paper series working paper ; no. 1748
    Subjects: supply shocks; Covid-19; hysteresis; investment; endogenous growth; monetary policy; fiscal policy; zero lower bound; Keynesian growth
    Scope: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  25. The role of human capital in structural change and growth in an open economy
    innovative and absorptive capacity effects
    Author: Bye, Brita; Fæhn, Taran
    Published: January 2021
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Since the financial crisis in 2008, slow growth has riddled Europe and the Covid-19 pandemic is amplifying the challenge. Promoting economic growth and transforming to a more knowledge-based industrial structure will be high on the agenda for the... more

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    Since the financial crisis in 2008, slow growth has riddled Europe and the Covid-19 pandemic is amplifying the challenge. Promoting economic growth and transforming to a more knowledge-based industrial structure will be high on the agenda for the coming decades. We study how more and better human capital can contribute to knowledge accumulation and structural change by means of a dynamic endogenous growth model, with Norway as a numerical case. Human capital has two main roles in productivity growth: to increase the innovative capacity by participating in research and development (R&D), and to increase the absorptive capacity in sectors that trade and can learn from abroad. We find that in a small, open economy sectors where human capital, R&D and trade interact, and enable absorption, tend to grow fastest.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/232454
    Series: CESifo working paper ; no. 8857 (2021)
    Subjects: absorptive capacity; computable general equilibrium model; endogenous growth; human capital; innovation; research and development
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen