Now showing items 1-10 of 12
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 ...
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 ...
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.
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 ...
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 ...
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 ...
Midiendo el impacto del capital humano en el crecimiento económico de Corea del Sur
(Universidad EAFIT, 2007-04-15)
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 ...