Examinando por Autor "Ballesteros, Carlos"
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Ítem Buenas prácticas y recomendaciones para una reforma pensional(Universidad EAFIT, 2023-05) Gutiérrez, Juan Carlos; Agudelo, Diego; Ospina, Jaime; Ballesteros, Carlos; Almonacid, Paula; Universidad EAFIT; Escuela de Finanzas, Economía y Gobierno; Valor Público EAFITÍtem Explaining economic growth in developed economies after 1980(Universidad EAFIT, 2016-08-01) Ballesteros, Carlos; Posada, Carlos E.; cballes4@eafit.edu.co; cposad25@eafit.edu.coWe use the Aguion and Howitt (2009) theoretical model of endogenous economic growth to explain the declining economic growth in developed economies in the period 1981-2009. Aguion and Howitt theoretical framework combines Solownian and Schumpeterian elements in a single scenario, so that labor-augmenting technological progress and capital accumulation per efficiency unit of labor are both caused not only by exogenous changes in the investment rate but also by shocks to the degree of efficiency in the Research and Development (R&D) expenditure process. Empirical results revealed that per worker output growth rates and capital stock per efficiency unit of labor growth rates both have a common panel unit root. Since the panel cointegration tests and estimates revealed a statistical significant negative long-run relationship between per worker output growth rate and capital stock per efficiency unit of labor, the interpretation of the econometric results analized from the Aguion and Howitt ́s theoretical perspective is that labor-augmenting technological progress is endogenously falling over time mainly because of an exogenous deterioration of the environment conditions for the transformation of the investment rate and R&D expenditures in technological progress.Ítem Growth and stagnation: The case of the Japanese economy (1981-2009)(Universidad EAFIT, 2017-05-01) Ballesteros, Carlos; Posada, Carlos Esteban; cballes4@eafit.edu.co; cposad25@eafit.edu.coThe pace of Japanese economic growth was substantially higher than that exhibited by the group of developed economies between 1985 and 1995; later has been lower. What explains this "relative decline"? According to the econometric results of an exercise carried out, inspired by the model of Aghion and Howitt (2009), the hypotheses of insufficient investment or savings can be considered implausible to explain such performance, while an alternative hypothesis can be considered likely: The loss of efficiency of the Japanese society, compared with the other developed societies, to transform resources required in R&D into a high and constant rate of technical change.Ítem Mining and Energy Boom, Dutch Disease and Informality in Colombia: a DSGE Approach(Universidad EAFIT, 2016-08-01) Ballesteros, Carlos; cballes4@eafit.edu.coThe paper develops a Dynamic Stochastic General Equilibrium (DSGE) model, which assesses the macroeconomic and labor market effects derived from simulating a positive shock to the stochastic component of the mining-energy sector productivity. Calibrating the model for the Colombian economy, this shock generates a whole increase in formal wages and a raise in tax revenues, expanding total consumption of the household members. These facts increase non-tradable goods prices relative to tradable goods prices, then real exchange rate decreases (appreciation) and occurs a displacement of productive resources from the tradable (manufacturing) sector to the non-tradable sector, followed by an increase in formal GDP and formal job gains. This situation makes the formal sector to absorb workers from the informal sector through the non-tradable formal subsector, which causes informal GDP to go down. As a consequence, in the net consumption falls for informal workers, which leads some members of the household not to offer their labor force in the informal sector but instead they prefer to keep unemployed. Therefore, the final result on the labor market is a decrease in the number of informal workers, of which a part are in the formal sector and the rest are unemployed.