S-shaped Transition and Catapult E¤ects
نویسندگان
چکیده
Among the rich economies of the world today, per capita output levels had diverged before converging to the per capita output level of the frontier economy. Since frontier economies have grown at stable rates, non-frontier economies display an S-shape aggregate transition path. Along this transition, there are catapult e¤ects: longer episodes of divergence are associated with faster subsequent rates of convergence to the frontier. We construct and quantitatively assess a model of S-shaped transition with catapult e¤ects. Deviations in per capita output from frontier economy levels are endogenous, while conventional growth accounting would classify these as TFP di¤erences. Keywords S-shaped transition; catapult e¤ects; TFP. JEL Classi cation O11, O41, O57.
منابع مشابه
S-shaped Transition and Catapult Effects
Among today’s rich economies, per capita output levels diverged before converging to the levels of the frontier economy. Since frontier economies grew at stable rates, non-frontier economies display an S-shaped transition path. Along this transition, there are "catapult effects": longer episodes of stagnation are associated with faster subsequent rates of convergence to the frontier. Many of to...
متن کاملA Novel Small E–Ring Shaped Monopole Antenna with Dual Band-Notch Function for UWB Wireless Communications
This paper presents an E-ring shaped printed monopole antenna for UWB applications with dual notched bands performance. In order to generate single frequency band notch function, we applied a U-ring shaped monopole antenna, and by inserting a rectangular ring in the centre of it an E-ring shaped radiating patch created and a dual band-notch function can be achieved. The measured bandwidth of th...
متن کاملFabrication and Characterization of Rutile TiO2 Nanocrystals by Water Soluble Precursor
In this research, TiO2 nanoparticles were synthesized by a simple wet chemical method. TiCl4 was used as precursor in hydrogen peroxideand ethanol. The TiO2 nanoparticles were characterized by transmission electron microscopy (TEM), scanning electron microscopy (SEM), X-ray diffraction (XRD), electron dispersive spectroscopy (EDS) and UV-Vis spectrophotome...
متن کاملWhen does lumpy factor adjustment matter for aggregate dynamics?
We analyze the dynamic e¤ects of lumpy factor adjustments at the rm level onto the aggregate economy. We nd that distinguishing between capital and labour as lumpy factors within the production function result in very di¤erent dynamics for aggregate output, investment and labour in an otherwise standard real business cycle model. Lumpy capital leaves the RBC mainly unchanged, while lumpy labo...
متن کاملEvaluation of some random eþ ects methodology applicable to bird ringing data
Existing models for ring recovery and recapture data analysis treat temporal variations in annual survival probability (S ) as ® xed eþ ects. Often there is no explainable structure to the temporal variation in S1 , . . . , Sk ; random eþ ects can then be a useful model: S i 5 E(S ) + e i . Here, the temporal variation in survival probability is treated as random with average value E( e 2 ) 5 r...
متن کامل