Mostrando ítems 1-10 de 10
Ciclo económico de Colombia: una mirada desde la teoría austriaca (1994-2004)
(Universidad EAFIT, 2007-10-15)
The Austrian Business Cycle Theory is founded on monetary transmission mechanisms in order to explain peaks and troughs in the business cycle. According to Austrian postulates, markets are dynamic interaction processes ...
Los modelos DSGE: una respuesta de la discusión macroeconómica.
(Universidad EAFIT, 2011-10-03)
Models of Dynamic Stochastic General Equilibrium (DSGE) are based on the theory of general equilibrium that influences contemporary macroeconomics. This instrument explains the aggregate economic phenomena derived from ...
Midiendo el impacto del capital humano en el crecimiento económico de Corea del Sur
(Universidad EAFIT, 2007-04-15)
The effects of wage volatility on growth
This paper shows that the volatility of wages has significant effects on a country’s rate of economic growth. Our theoretical framework suggests two distinct channels in which wage volatility affects growth: a positive ...
World total factor productivity growth and the steady-state rate in the 20th century
I estimate a Solow model augmented with human capital in 42 countries for 1910–2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining ...
Volatility and growth: Governments are key
There exists a persistent disagreement in the literature over the effect of business cycles on economic growth. This paper offers a solution to this disagreement, suggesting that volatility carries not only a positive ...
Human capital and growth in Japan: Converging to the steady state in a 1% world
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I showthat a dynamic Solow growth model, augmented with human capital, weekly hours worked, and ...
Penn World Table 7.0: Are the data flawed?
PWT 7.0 data deviate substantially from PWT 6.3 data because the benchmarked prices for 1970 to 1996 used in PWT 6.3 were entirely discarded. PWT 7.0 data are unreliable and appear to be much less accurate than PWT 6.3 data.
Can Institutions or Education Explain World Poverty? An Augmented Solow Model Provides Some Insights
When the Solow model is augmented with variables for institutions and human capital and estimated with national data for rates of investment in education, it can explain most of the variation in cross-country standards of ...
The Quality vs. the Quantity of Schooling: What Drives Economic Growth?
This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I ...