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The Overlapping Generations Model With Endogenous Labor Supply
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Book Synopsis Handbook of Computable General Equilibrium Modeling by : Peter B. Dixon
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy
Book Synopsis A Theory of Economic Growth by : David de la Croix
Download or read book A Theory of Economic Growth written by David de la Croix and published by Cambridge University Press. This book was released on 2002-10-24 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.
Download or read book Exchange Rate Dynamics Redux written by and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until now, thinking on open economy macroeconomics has been largely schizophrenic. When it comes to analyzing exchange rate dynamics, an empirically-minded economist abandons modern current account models which, while theoretically coherent, fail to address the awkward reality of sticky nominal prices. In this paper we develop an analytically tractable two-country model that marries a full account of dynamics to a supply framework based on monopolistic competition and sticky prices. It offers simple and intuitive predictions about exchange rates and current accounts that sometimes differ sharply from those of either modern flexible-price intertemporal models, or traditional sticky-price Keynesian models. The model also leads to a novel perspective on the international welfare spillovers of monetary and fiscal policies.
Book Synopsis Handbook of the Economics of Population Aging by : John Piggott
Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1080 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. - Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues - Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource - Presents diverse perspectives on subjects that can be closely associated with national and regional concerns - Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309444454 Total Pages :643 pages Book Rating :4.3/5 (94 download)
Book Synopsis The Economic and Fiscal Consequences of Immigration by : National Academies of Sciences, Engineering, and Medicine
Download or read book The Economic and Fiscal Consequences of Immigration written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-07-13 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis The Macroeconomics of Corruption by : Maksym Ivanyna
Download or read book The Macroeconomics of Corruption written by Maksym Ivanyna and published by Springer. This book was released on 2017-11-29 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. The book merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income inequality within and across countries, growth slowdowns, and fiscal crises. Most of the basic ideas are illustrated using a two-period model of government investment that captures the future cost of policies that favor the present (Chapters 2-3). The more subtle and advanced issues are illustrated and, in some cases, quantified, using the overlapping-generations model of economic growth (Chapters 4-6). The models used to illustrate the mechanisms of economic growth are extended to incorporate politics and the behavior of public officials (Chapters 3, 5-7). The text concludes with a thorough discussion of policy reforms designed to address the issues discussed in earlier chapters. Intended for students familiar with intermediate-level economics, the book contains a technical appendix, including detailed explanations of each model, end-of-chapter questions and problems, and a complete solutions manual, making it ideal for self-study. Offering a unified explanation for the causes and consequences of government failure, fiscal crisis, and the needed policy reforms, this text is appropriate for advanced undergraduate and beginning graduate courses in macroeconomics, political economy, and public policy.
Book Synopsis Economic Growth, second edition by : Robert J. Barro
Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Book Synopsis Income Distribution in Macroeconomic Models by : Giuseppe Bertola
Download or read book Income Distribution in Macroeconomic Models written by Giuseppe Bertola and published by Princeton University Press. This book was released on 2014-09-28 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.
Book Synopsis Public Finance in an Overlapping Generations Economy by : T. Ihori
Download or read book Public Finance in an Overlapping Generations Economy written by T. Ihori and published by Springer. This book was released on 1996-11-20 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a theoretically-based comprehensive analysis of macroeconomic consequences of fiscal policy using a popular economic model: the overlapping generations growth model. A wide range of essential public finance issues is analyzed, including the effects of tax reform on dynamic efficiency, positive and normative effects of public spending, considerations of taxes on fixed assets and monetary holdings, and sustainability of deficits. A unique approach is applied in the study of public finance: one expected to generate substantial interest among current graduate students and active researchers.
Book Synopsis Models and Measurement of Welfare and Inequality by : Wolfgang Eichhorn
Download or read book Models and Measurement of Welfare and Inequality written by Wolfgang Eichhorn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on economic problems connected with measuring and modelling of welfare and inequality has grown rapidly within the last decade. Since this literature is scattered throughout a great number of journals on economics, economic theory, econometrics, and statisties, it is difficult to get an adequate picture of the present state of the art. Therefore books should appear from time to time, which offer a representative cross-section of the latest results of research on: the subject. This book offers such material. It contains 54 articles by 84 authors from four of the five continents. Each paper has been reviewed by two referees. As a conse quence, the contributions of this book are revised versions, or, in many cases, revised revisions of the original papers. The book is divided into four parts. Part I: Measurement of Inequality and Poverty This part contains eleven papers on theory and empirical applications of inequa lity and/or poverty measures. Two contributions deal with, among other things, experimental findings on questions concerning the acceptance of distributional axioms. Part II: Taxation and Redistribution Distributional or, rather, redistributional aspects play an important role in Part II. The topics of the 14 papers included in this part range from tax progressivity and redistribution, allocative consequences of splitting under income taxation, and connections between income tax and cost-of-living indices to merit goods and welfarism as well as to welfare aspects of tax reforms.
Book Synopsis The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model by : Ms.Jenny Elisabeth Ligthart
Download or read book The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model written by Ms.Jenny Elisabeth Ligthart and published by International Monetary Fund. This book was released on 1998-12-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies the dynamic allocation effects of tax policy in the context of an overlapping generations model of the Blanchard-Yaari type. The model is extended to allow for endogenous labor supply and three tax instruments: a capital income tax, labor income tax, and consumption tax. Analytical expressions and simple diagrams are used to discuss the impact, transition, and long-run effects of tax policy changes. It is shown that a part of the long-run incidence of capital and consumption taxes falls on capital when households’ horizons are finite, whereas labor would fully bear the burden of these taxes in an infinite horizon model.
Book Synopsis Economic Growth and Development by : Sibabrata Das
Download or read book Economic Growth and Development written by Sibabrata Das and published by Springer. This book was released on 2018-08-16 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text is an introduction to the newer features of growth theory that are particularly useful in examining the issues of economic development. Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. Structural transformation, in which developing countries transition from traditional production in largely rural areas to modern production in largely urban areas, is an important causal force in creating early economic growth, and as such, is made central in this approach. Towards this end, the authors augment the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation, creating a single two-sector model of structural transformation. Based on applied research and practical experiences in macroeconomic development, the model in this book presents a more rigorous, quantifiable, and explicitly dynamic dual economy approach to development. Common microeconomic foundations and notation are used throughout, with each chapter building on the previous material in a continuous flow. Revised and updated to include more exercises for guided self study, as well as a technical appendix covering required mathematical topics beyond calculus, the second edition is appropriate for both upper undergraduate and graduate students studying development economics and macroeconomics.
Book Synopsis The Housing Boom and Bust by : Thomas Sowell
Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Book Synopsis Foundations of Modern Macroeconomics by : Ben J. Heijdra
Download or read book Foundations of Modern Macroeconomics written by Ben J. Heijdra and published by Oxford University Press. This book was released on 2017 with total page 937 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using nothing more than undergraduate mathematical skills this book takes the reader from basic IS-LM style macro models to the state of the art literature on Dynamic Stochastic General Equilibrium. Dealing with all major topics it summarizes important approaches and provides a coherent angle on macroeconomic thought.
Book Synopsis General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory by : Truman F. Bewley
Download or read book General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory written by Truman F. Bewley and published by Harvard University Press. This book was released on 2009-07-01 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as microeconomic theory. The book contains problems sets for most chapters.
Book Synopsis Growth and Distribution by : Duncan K. Foley
Download or read book Growth and Distribution written by Duncan K. Foley and published by Harvard University Press. This book was released on 2019-02-11 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major revision of an established textbook on the theory, measurement, and history of economic growth, with new material on climate change, corporate capitalism, and innovation. Authors Duncan Foley, Thomas Michl, and Daniele Tavani present Classical and Keynesian approaches to growth theory, in parallel with Neoclassical ones, and introduce students to advanced tools of intertemporal economic analysis through carefully developed treatments of land- and resource-limited growth. They cover corporate finance, the impact of government debt and social security systems, theories of endogenous technical change, and the implications of climate change. Without excessive formal complication, the models emphasize rigorous reasoning from basic economic principles and insights, and respond to students’ interest in the history and policy dilemmas of real-world economies. In addition to carefully worked out examples showing how to use the analytical techniques presented, Growth and Distribution presents many problems suitable for inclusion in problem sets and examinations. Detailed answers to these problems are available. This second edition includes fresh data throughout and new chapters on climate change, corporate capitalism, models of wealth inequality, and technical change.
