Essays on Skill Biased Technological Change and Human Capital

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ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.:/5 (92 download)

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Book Synopsis Essays on Skill Biased Technological Change and Human Capital by : Qian Lu

Download or read book Essays on Skill Biased Technological Change and Human Capital written by Qian Lu and published by . This book was released on 2015 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies determinants of the U.S. labor market structure and human capital development, with a focus on technological change. A key feature of the U.S. labor market since 1980 is the substantial growth of the employment in high skill occupations and there is a substantial literature attributing this change to technological change. However, since 1999, the employment growth of high skill occupations has decelerated markedly despite continued rapid growth in technology. The first essay documents this novel trend and examines the role of technological change in explaining this phenomenon. It shows that technological advancements since the late 1990s, such as the onset of Internet, have expanded what computers can do and become substitutes for high skill occupations. This change can explain a substantial portion of the stagnancy in employment growth for high skill occupation in the 2000s. The second essay examines the role of computer adoption in explaining the differences in the change of gender wage gap between 1980 and 2000 across cities in the United States. It uses the city-level routine task intensity in 1980 to predict the subsequent increase in computer adoption and shows that cities with one percent greater increase in computer adoption experienced a 0.7 percent more decrease in the change of male-female wage ratio between 1980 and 2000. Computerization explains about 50 percent of the decline in the male-female wage gap between 1980 and 2000. The third essay studies the causal effect of maternal education on the gender gap in children's non-cognitive skills. It shows that maternal education reduces boys' disadvantage in non-cognitive behaviors relative to girls at age 7. To explain the mechanism of this effect, it provides suggestive evidence that better educated mothers spend more time going outings with boys while reading to girls at age 7, and going outings could be more closely related to non-cognitive development than reading.

Three Essays on Skill Premium, College Choice, and Investment-specific Technological Change

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ISBN 13 :
Total Pages : 276 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Three Essays on Skill Premium, College Choice, and Investment-specific Technological Change by : Hui He

Download or read book Three Essays on Skill Premium, College Choice, and Investment-specific Technological Change written by Hui He and published by . This book was released on 2007 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Growth, Development, and Human Capital

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ISBN 13 :
Total Pages : 189 pages
Book Rating : 4.:/5 (119 download)

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Book Synopsis Essays on Growth, Development, and Human Capital by : Juan Ignacio Vizcaino

Download or read book Essays on Growth, Development, and Human Capital written by Juan Ignacio Vizcaino and published by . This book was released on 2020 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Skills, Technologies and Development. I study how the productivity of skilled and unskilled labor varies with development. Using harmonized, occupational labor market outcomes for a broad set of countries across the development spectrum, I document that employment in high-skill occupations, or jobs that are relatively more intensive in non-routine cognitive tasks, grows with development. In addition, the income of workers in high-skill occupations falls relative to earnings in low-skill occupations as countries grow richer. To understand the forces driving these findings, I develop a stylized model of the labor market across development. In the model, labor productivity is determined endogenously as a result of the selection of heterogeneous workers into occupations and education. I use a quantitative version of the model to decompose the observed decline in relative labor income between less-developed countries and the US into a component embedded in technologies, or relative skilled labor efficiency, and a fraction due to workers’ characteristics, or relative skilled labor quality. I find that relative quality explains 25 percent of the decline in relative labor income, with the remaining fraction due to relative efficiency. In less-developed countries, the relatively few skilled workers are the most productive in performing high-skill jobs, which reduces the magnitude of skill-biased technological progress needed to rationalize the cross-country data by one half when compared to a world where labor quality is purely determined by educational attainment. Skill-Biased Structural Change. Using a broad panel of advanced economies, we document that increases in GDP per-capita are associated with a systematic shift in the composition of value added to sectors that are intensive in high-skill labor, a process we label as skillbiased structural change. It follows that further development in these economies leads to an increase in the relative demand for skilled labor. We develop a two-sector model of this process and use it to assess the contribution of skill-biased structural change to the rise of the skill premium in the US and a set of ten other advanced economies, over the period of 1977 to 2005. For the US, we find that these compositional changes in demand account for 20-27% of the overall increase of the skill premium due to technical change. Natural Disasters and Growth: The Role of Foreign Aid and Disaster Insurance. In this paper we develop a continuous time stochastic growth model that is suitable for studying the impact of natural disasters on the short run and long run growth rate of an economy. We find that the growth effects of a natural disaster depend in complicated ways on the details of expected foreign disaster aid and the existence of catastrophe insurance markets. We show that aid can have an influence on investments in prevention and mitigation activities and can delay the recovery from a natural disaster strike.

Essays on Skill-biased Technology Diffusion

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (824 download)

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Book Synopsis Essays on Skill-biased Technology Diffusion by : Rosinda M. F. Magalhães

Download or read book Essays on Skill-biased Technology Diffusion written by Rosinda M. F. Magalhães and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: My thesis is a collection of three essays that consider various aspects of a skillbiased technology diffusion as well as skill premium, human capital acumulation and redistributive policies. The first chapter, co-authored with Christian Hellström, investigates the effects of skill-bisead technology change (SBTC) on income inequality and skills supply in the last 30 years in the US. In spite of the intensive debate about the effects of SBTC, its general equilibrium effects on the accumulation of skills and labor supply have been neglected. Thus, we build a dynamic general equilibrium model, in which growth is driven by skill-biased technology diffusion. Households have forward-looking expectations, and differ in terms of innate and idiosyncratic acquisition of skills. Contrary to pure technology progress models, technology diffusion models provide an explanation for the slowdown of the skill premium in the 70s compatible with the slow productivity growth. We find that first, technology diffusion raises the demand for skills and, consequently, the supply of skills. Second, skill-biased technology diffusion explains both the slowdown and the sharp increase of the skill premium observed in the 70s and 80s, respectively. In spite of the slowdown of the skill premium in the 70s, households anticipate the speed up of the technology diffusion and raise their investment in education, even during the economic slowdown. Therefore, the skills supply has continually increased since the 70s. Through a calibration exercise, we replicate the US trends for the skill-premium, skills supply, unskilled wages, consumption inequality and labor supply. The second chapter is motivated by the finding that the skill-biased technology diffusion increases both the skill-premium and skills supply in the last 30 years in the US . This chapter analyzes the effectiveness of redistributive policies in periods of technology diffusion. We build a microfounded general equilibrium model with skill-biased technology diffusion, endogenous labor supply, schooling decisions and redistributive policies. We show that, under endogenous schooling decisions, lump-sum transfers are ineffective. This policy raises the skill premium, in particular during the economic boom and in the long run, and reduces the social welfare during almost all of the technology cycle. Yet education subsidies incentivize the investment in education, decreasing the skill premium, raising the skills supply and social welfare. The investment in education tends to be counter-cyclical. On the one hand, forward-looking individuals anticipate the increase of demand for skills during the economic boom, increasing their investment in education during the economic recession. On the other hand, they also anticipate the maturation of the technology diffusion, reducing their investment in education during the economic boom. Finally, we show that education subsidies are Pareto-effcient, increasing welfare of both high- and low-skilled individuals. The third chapter endogenizes the technology diffusion path assumed in the first chapter. This chapter presents a two-sector growth model that explains the adoption of a skill-biased technology. There are two types of technology: low-tech and high-tech, and the latter is more productive and skill-biased. Technology is not embodied. To adopt high-technology, users must pay an instantaneous adoption cost, which decreases over time due to technology progress. Firms are homogeneous and act strategically, maximizing their profits given their rivals' behavior, leading to a technology sequential adoption pattern due to stock effects. We found that the decrease of the adoption cost and the increase of the technology knowledge due to learning effects leads to an increasing technology diffusion over time. The former has an constant effect over time, but for the latter, although positive, the effect is not constant, changing the speed of the technology diffusion over time.

Inequality and the Labor Market

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Publisher : Brookings Institution Press
ISBN 13 : 0815738811
Total Pages : 263 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Inequality and the Labor Market by : Sharon Block

Download or read book Inequality and the Labor Market written by Sharon Block and published by Brookings Institution Press. This book was released on 2021-04-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.

Essays in International Trade and Human Capital

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ISBN 13 : 9781124718002
Total Pages : 61 pages
Book Rating : 4.7/5 (18 download)

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Book Synopsis Essays in International Trade and Human Capital by : Ferdinando Monte

Download or read book Essays in International Trade and Human Capital written by Ferdinando Monte and published by . This book was released on 2011 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wage ratios between different percentiles of the wage distribution have moved in parallel and then diverged in the U.S. in the last 50 years. In this research, I study the theoretical response of wage ratios to skill-biased technical change and trade integration. I build a simple model of heterogeneous technology and heterogeneous workers that features complementarities between the quality of ideas and abilities. I show that changes to the skill bias of technology and to trade costs can both reproduce the observed pattern since (i) they have similar asymmetric effects on productive vs. unproductive firms, and (ii) positive assortative matching in the labor market transmits this asymmetry across high and low skill workers. Focusing on the different channels through which skill-biased technical change and trade integration operate suggests ways to disentangle the magnitude of each.

What does human capital do? : a review of Goldin and Katz's the race between education and technology

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ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (775 download)

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Book Synopsis What does human capital do? : a review of Goldin and Katz's the race between education and technology by : Daron Acemoğlu

Download or read book What does human capital do? : a review of Goldin and Katz's the race between education and technology written by Daron Acemoğlu and published by . This book was released on 2012 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Goldin and Katz's The Race between Education and Technology is a monumental achievement that supplies a unified framework for interpreting how the demand and supply of human capital have shaped the distribution of earnings in the U.S. labor market over the 20th century. This essay reviews the theoretical and conceptual underpinnings of this work and documents the success of Goldin and Katz's framework in accounting for numerous broad labor market trends. The essay also considers areas where the framework falls short in explaining several key labor market puzzles of recent decades and argues that these shortcomings can potentially be overcome by relaxing the implicit equivalence drawn between workers' skills and their job tasks in the conceptual framework on which Goldin and Katz build. The essay argues that allowing for a richer set of interactions between skills and technologies in accomplishing job tasks both augments and refines the predictions of Goldin and Katz's approach and suggests an even more important role for human capital in economic growth than indicated by their analysis. Keywords: Earnings, education, economic growth, inequality, human capital, inequality, skills, skill-biased technological change, tasks, technology. JEL Classifications: J30, J31, O14, O31, O33.

What Does Human Capital Do? A Review of Goldin and Katz's The Race Between Education and Technology

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (99 download)

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Book Synopsis What Does Human Capital Do? A Review of Goldin and Katz's The Race Between Education and Technology by :

Download or read book What Does Human Capital Do? A Review of Goldin and Katz's The Race Between Education and Technology written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Skill-Biased Technological Change and Labor Market Inequality

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Essays on Skill-Biased Technological Change and Labor Market Inequality by : Yiheng Huang

Download or read book Essays on Skill-Biased Technological Change and Labor Market Inequality written by Yiheng Huang and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

THREE ESSAYS CONSIDERING HUMAN CAPITAL COMPOSITION AND ECONOMIC GROWTH

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ISBN 13 :
Total Pages : 145 pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis THREE ESSAYS CONSIDERING HUMAN CAPITAL COMPOSITION AND ECONOMIC GROWTH by : Guan Lin

Download or read book THREE ESSAYS CONSIDERING HUMAN CAPITAL COMPOSITION AND ECONOMIC GROWTH written by Guan Lin and published by . This book was released on 2017 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: Human capital has long been recognized as a crucial determinant of economic development. The main contribution of my dissertation is to both theoretically and empirically demonstrate the idea that the composition (different types of education) of human capital determines technological progress and affects long-run economic growth. As compared to traditional human capital and growth literature, it emphasizes the composition effect of human capital, rather than the level effect, on economic development. It provides a new perspective in characterizing the stages of economic development along the growth path. Optimal human capital composition benefits not only lesser developed countries who usually lack educational resources but also developed countries with limited population growth potential. The first chapter, titled ``Education, Technology, Human Capital Composition and Economic Development'', develops a framework of endogenous educational decisions and technological progress to explore the human capital composition and its effects on economic growth. In this model, growth is driven by technological advancement, which depends on the human capital composition. Individuals can choose from different types of workers: unskilled workers, generalists or specialists. Both generalists and specialists, through technological progress, are able to enhance growth. The model considers the role of technology stock, coordination cost, education cost and worker's innate ability on the human capital composition and economic growth. The main result shows the improvement in the composition of human capital promotes economic growth in most economic stages. However, this positive effect tapers off as the economy reaches complete specialization. This provides a possible explanation for the convergence of economic growth to zero asymptotically in the long run. I extend the argument into an open economy framework in the second chapter, titled ``Migration Effects on Home Country's Composition of Human Capital and Economic Development''. This chapter examines migration effects on domestic composition of human capital and economic growth. The net effect of migration depends on two facets. On one hand, the possibility of migration provides incentives for workers to invest in education and consequently increases the fraction of skilled workers in home country's human capital composition. On the other hand, increased population of skilled emigrants hinders the accumulation of human capital. A sufficient condition for beneficial migration is derived: if the ex ante domestic fraction of unskilled worker is relatively high, allowing the home country to achieve faster economic growth with migration. The last chapter, titled ``The Effect of Tertiary Education Composition on Economic Growth'', differentiates types of tertiary education by ISECD levels and empirically investigates their effects on economic growth. I use panel data on a group of 77 countries for the period 1998-2011. In dynamic panel data estimation, a potential endogeneity bias could arise due to the inclusion of lagged dependent variables. Several methods are applied to overcome the issue, such as Anderson-Hsiao estimator, the Difference Generalized Method of Moments estimator and the System Generalized Method of Moments estimator. The study shows a significantly positive relationship between short-cycle tertiary education and real GDP per capita for both developed and developing countries. However, undergraduate and graduate education only positively correlate to economic growth in developed countries. The empirical results are informative for developed countries as well as developing countries. Understanding the contribution of tertiary education in different levels allows them to effectively allocate resources and appropriately integrate it in growth policies.

Essays on Information Technology, Intangible Capital, and the Economics of Artificial Intelligence

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ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (113 download)

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Book Synopsis Essays on Information Technology, Intangible Capital, and the Economics of Artificial Intelligence by : Daniel Ian Rock

Download or read book Essays on Information Technology, Intangible Capital, and the Economics of Artificial Intelligence written by Daniel Ian Rock and published by . This book was released on 2019 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains four essays concerning the economics of information technology, intangible capital, and artificial intelligence. In the first essay, "Engineering Value: The Returns to Technological Talent and Investments in Artificial Intelligence" I describe how firms can appropriate some of the value of their employees' human capital by assigning firm-specific tasks. I then use a database of employment records to document dynamics in the valuation of publicly traded firms as they relate to different types of employment, focusing especially on AI skills. The second essay, "The Productivity J-Curve: How Intangibles Complement General Purpose Technologies" (coauthored with Erik Brynjolfsson and Chad Syverson) addresses the concern that new technologies with wide applicability throughout the economy can cause both underestimation and overestimation of total factor productivity. As capital is accumulated, intangible investment output, and therefore productivity growth, will be underestimated only to later generate a yield (at which point productivity growth will be overestimated). Presenting a theoretical description of how to use corporate valuations to recover hidden investment value, we discuss how productivity growth and levels can be adjusted to accommodate these changes. Implications for research and development, computer hardware, and computer software investments are considered. The third essay, "Machine Learning and Occupational Change" (coauthored with Erik Brynjolfsson and Tom Mitchell), develops and implements a method to measure the labor market impact potential of machine learning technologies. Tasks are evaluated for their Suitability for Machine Learning (SML). We find that few occupations can be fully automated with machine learning, but many occupations will potentially be redesigned. The final essay, "Do Labor Demand Shifts Occur Within Firms or Across Them? Non-Routine-Biased Technological Change 2000-2016" (coauthored with Seth Benzell and Guillermo Lagarda) decomposes labor share shifts of occupational groups into changes between firms, within firms, and due to entry and exit. We find that within-firm compositional shifts are an important component of changes in the overall labor market. We also find that the rate of within-firm shifts has declined in the period from 2000 to 2016. Together, these essays offer insights into how artificial intelligence technologies, particularly machine learning, will impact the U.S. economy.

Essays on the Skill Premium and the Skill Bias of Technological Change

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (87 download)

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Book Synopsis Essays on the Skill Premium and the Skill Bias of Technological Change by : Barbara Richter

Download or read book Essays on the Skill Premium and the Skill Bias of Technological Change written by Barbara Richter and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Ability Biased Technological Transition, Wage Inequality and Growth

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ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.X/5 (6 download)

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Book Synopsis Ability Biased Technological Transition, Wage Inequality and Growth by : Oded Galor

Download or read book Ability Biased Technological Transition, Wage Inequality and Growth written by Oded Galor and published by . This book was released on 1998 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on economic integration

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Publisher : Rozenberg Publishers
ISBN 13 : 9051707029
Total Pages : 162 pages
Book Rating : 4.0/5 (517 download)

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Book Synopsis Essays on economic integration by :

Download or read book Essays on economic integration written by and published by Rozenberg Publishers. This book was released on 2006 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Race between Education and Technology

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Publisher : Harvard University Press
ISBN 13 : 0674037731
Total Pages : 497 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis The Race between Education and Technology by : Claudia Goldin

Download or read book The Race between Education and Technology written by Claudia Goldin and published by Harvard University Press. This book was released on 2009-07-01 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.

Endogenous Human Capital and Technological Change in Closed and Open Economies

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ISBN 13 :
Total Pages : 148 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Endogenous Human Capital and Technological Change in Closed and Open Economies by : Theo Stefan Eicher

Download or read book Endogenous Human Capital and Technological Change in Closed and Open Economies written by Theo Stefan Eicher and published by . This book was released on 1994 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays in Dynamic Macroeconomics

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ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Three Essays in Dynamic Macroeconomics by : Hernán J. Moscoso Boedo

Download or read book Three Essays in Dynamic Macroeconomics written by Hernán J. Moscoso Boedo and published by . This book was released on 2006 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: