منابع مشابه
Capital Accumulation and Convergence in a Small Open Economy
Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....
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The financial crisis of 2008 was followed by sharp contractions in aggregate output and employment and an unusual increase in aggregate total factor productivity (TFP). This paper attempts to explain these facts by modeling the creation and destruction of jobs in the presence of heterogeneity in firm productivity and frictional credit and labor markets. The aggregate level of TFP is determined ...
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The dramatic events of recent weeks, which have seen governments mobilise huge sums of money in support of the global banking system, have got many researchers thinking about how they might be mobilised to tackle environmental problems more effectively, particularly as a recession may be an ideal opportunity to kick-start 'green' jobs. And this was the key element of last month's Green Economy ...
متن کاملCredit Risk, Credit Crunch and Capital Structure
A firm partially financed by debt is considered. The firm is subject to two types of shocks: macro-shocks modeled as a finite state Markov chain, and idiosyncratic shocks. The dynamics of the latter may depend on the state of the macroeconomy; the state of the economy is determined not only by fundamentals but the market sentiment as well. The lenders are competitive and debt is rolled over unt...
متن کاملcapital accumulation and convergence in a small open economy
â â â â â â â abstract â outward-oriented economies seem to grow faster than inward-looking ones. does the literature on convergence have anything to say on this? in the dynamic heckscher-ohlin-samuelson model, with factor-price equalization, there is no convergence of incomes. this is because with identical preferences and return to capital, irrespective of initial levels the growth rates o...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2011
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2011.07.010