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Does Factor Biased Technological Change Stiffle International Convergence
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Book Synopsis Is Skill-biased Technological Change Here Yet? by : Eli Berman
Download or read book Is Skill-biased Technological Change Here Yet? written by Eli Berman and published by World Bank Publications. This book was released on 2005 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most high and middle-income countries showed symptoms of skill-biased technological change in the 1980s. India-a low income country-did not, perhaps because India's traditionally controlled economy may have limited the transfer of technologies from abroad. However the economy underwent a sharp reform and a manufacturing boom in the 1990s, raising the possibility that technology absorption may have accelerated during the past decade. The authors investigate the hypothesis that skill-biased technological change did in fact arrive in India in the 1990s using panel data disaggregated by industry and state from the Annual Survey of Industry. These data confirm that while the 1980s were a period of falling skills demand, the 1990s showed generally rising demand for skills, with variation across states. They find that increased output and capital-skill complementarity appear to be the best explanations of skill upgrading in the 1990s. Skill upgrading did not occur in the same set of industries in India as it did in other countries, suggesting that increased demand for skills in Indian manufacturing is not due to the international diffusion of recent vintages of skill-biased technologies.
Book Synopsis Inequality and Instability by : James K. Galbraith
Download or read book Inequality and Instability written by James K. Galbraith and published by Oxford University Press. This book was released on 2012-04-02 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Wall Street rose to dominate the U.S. economy, income and pay inequalities in America came to dance to the tune of the credit cycle. As the reach of financial markets extended across the globe, interest rates, debt, and debt crises became the dominant forces driving the rise of economic inequality almost everywhere. Thus the "super-bubble" that investor George Soros identified in rich countries for the two decades after 1980 was a super-crisis for the 99 percent-not just in the U.S. but the entire world. Inequality and Instability demonstrates that finance is the driveshaft that links inequality to economic instability. The book challenges those, mainly on the right, who see mysterious forces of technology behind rising inequality. And it also challenges those, mainly on the left, who have placed the blame narrowly on trade and outsourcing. Inequality and Instability presents straightforward evidence that the rise of inequality mirrors the stock market in the U.S. and the rise of finance and of free-market policies elsewhere. Starting from the premise that fresh argument requires fresh evidence, James K. Galbraith brings new data to bear as never before, presenting information built up over fifteen years in easily understood charts and tables. By measuring inequality at the right geographic scale, Galbraith shows that more equal societies systematically enjoy lower unemployment. He shows how this plays out inside Europe, between Europe and the United States, and in modern China. He explains that the dramatic rise of inequality in the U.S. in the 1990s reflected a finance-driven technology boom that concentrated incomes in just five counties, very remote from the experience of most Americans-which helps explain why the political reaction was so slow to come. That the reaction is occurring now, however, is beyond doubt. In the aftermath of the Great Financial Crisis, inequality has become, in America and the world over, the central issue. A landmark work of research and original insight, Inequality and Instability will change forever the way we understand this pivotal topic.
Book Synopsis Crisis and Inequality by : Mattias Vermeiren
Download or read book Crisis and Inequality written by Mattias Vermeiren and published by John Wiley & Sons. This book was released on 2021-02-11 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the two most important challenges to democratic capitalism since the Great Depression. To understand the political economy of contemporary Europe and America we must, therefore, put inequality and crisis at the heart of the picture. In this innovative new textbook Mattias Vermeiren does just this, demonstrating that both the global financial crisis and the European sovereign debt crisis resulted from a mutually reinforcing but ultimately unsustainable relationship between countries with debt-led and export-led growth models, models fundamentally shaped by soaring income and wealth inequality. He traces the emergence of these two growth models by giving a comprehensive overview, deeply informed by the comparative and international political economy literature, of recent developments in the four key domains that have shaped the dynamics of crisis and inequality: macroeconomic policy, social policy, corporate governance and financial policy. He goes on to assess the prospects for the emergence of a more egalitarian and sustainable form of democratic capitalism. This fresh and insightful overview of contemporary Western capitalism will be essential reading for all students and scholars of international and comparative political economy.
Download or read book Working Paper Series written by and published by . This book was released on 2000 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Focus on Economic Growth and Productivity by : L. A. Finley
Download or read book Focus on Economic Growth and Productivity written by L. A. Finley and published by Nova Publishers. This book was released on 2005 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: By 'economic growth' economists mean, in the first place, annual increases in the nation's total output of goods and services -- its national product. Maintaining rapid economic growth depends increasingly on productivity gains, particularly in the service sector. Economic growth and the productivity are impacted by individual enterprises, industrial sectors and the wider economy. The standard of living of a country is profoundly effected by economic growth and productivity. One of the key questions within the debate on economic growth and productivity is the effect of information technology on the system. This new book presents leading edge research on this exciting topic.
Book Synopsis The Economics of the Digital Society by : Luc Soete
Download or read book The Economics of the Digital Society written by Luc Soete and published by Edward Elgar Publishing. This book was released on 2005 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents research into the economics of the digital society. This work offers an overview of the changes that information and communication technologies (ICTs) have brought about in our analysis and understanding of society, focusing upon welfare economics, networks, the diffusion of businesses and various forms of entrepreneurship, and more. This important new book presents a unique body of research into the economics of the digital society. It questions how modern economies have been transformed as a result of digital goods and markets, and explores the policy implications and challenges of this revolution. Luc Soete and Bas ter Weel have assembled leading economists and social scientists to provide an invaluable insight into the influence of the digital society in the core fields of economics. They offer a comprehensive overview of the changes that information and communication technologies (ICTs) have brought about in our analysis and understanding of society, focusing particularly upon welfare economics, networks, the diffusion of new businesses and new forms of entrepreneurship, the auctioning of licences, the much-debated role of intellectual property rights and the emergence of free software in the open-source movement
Book Synopsis International and Domestic Collateral Constraints in a Model of Emerging Market Crises by : Ricardo J. Caballero
Download or read book International and Domestic Collateral Constraints in a Model of Emerging Market Crises written by Ricardo J. Caballero and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a model of emerging markets crises which features two types of collateral constraints. Firms in a domestic economy have limited borrowing capacity from international investors. They also have limited borrowing capacity with respect to each other. We study how the presence of and changes in these collateral constraints affect financial and real variables. A binding international constraint in the aggregate leads to a sharp rise in interest rates and fire sales of domestic assets, while limited domestic collateral can lead to wasted international collateral. These two collateral constraints can interact in important ways. The first is disintermediation: a fire sale of domestic assets causes banks to fail in their function of reallocating resources across the economy leading to wasted international collateral. The second is a dynamic effect. We show that firms in an economy with limited domestic collateral and a binding international collateral constraint will not adequately precaution against adverse shocks, increasing the severity of these shocks. Our approach is distinctive in that, while much of the literature on the role of financial constraints in macroeconomics draws their insights within either of these collateral deficiencies, we argue that their static and dynamic interactions have important consequences for emerging markets' performance.
Book Synopsis The Environmental Kuznets Curve by : David F. Bradford
Download or read book The Environmental Kuznets Curve written by David F. Bradford and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new specification, we reanalyze the data on worldwide environmental quality investigated by Gene Grossman and Alan Krueger in a well-known paper on the environmental Kuznets curve (which postulates an inverse U shaped relationship between income level and pollution). The new specification enables us to draw conclusions from fixed effects estimation. In general, we find support for the environmental Kuznets curve for some pollutants and for its rejection in other cases. The fresh specification offers some promise for analysis of such phenomena.
Book Synopsis The Impact of Capital Gains Taxes on Stock Price Reactions to S&P 500 Inclusin by : Jennifer Blouin
Download or read book The Impact of Capital Gains Taxes on Stock Price Reactions to S&P 500 Inclusin written by Jennifer Blouin and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2000 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding Mid-life and Older Age Mortality Declines by : Dora L. Costa
Download or read book Understanding Mid-life and Older Age Mortality Declines written by Dora L. Costa and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the twentieth century the 17 year survival rate of 50-64 year old men rose by 24 percentage points. I examine waiting time until death from all natural causes and from all chronic, all acute, respiratory, stomach, infectious, all heart, ischemic, and myocarditis disease among Union Army veterans first observed in 1900. The effect of such specific early life infections as stomach ailments, rheumatic fever, syphilis, measles, respiratory infections, malaria, diarrhea, and tuberculosis on older age mortality depended upon the cause of death that was being investigated but all of these infections reduced cause-specific longevity. Men who grew up in a large city faced an elevated mortality risk from all causes of death controlling for later residence. The immediate effect of reduced infectious disease rates and reduced mortality from acute disease accounts for 62 percent of the twentieth century increase in survival rates and the long-run effect of reduced early life infectious disease rates accounts for 12 percent of the increase. The findings imply that although the current effects of improved public health and medical care are larger than the cohort effects, cost-benefit analyses and forecasts of future mortality still need to account for long-run effects; that mortality in populations in which infectious, respiratory, and parasitic deaths are common is best described by a competing risks model; and, that the urbanization that accompanied early industrialization was extremely costly.
Download or read book Cahiers BEI written by and published by . This book was released on 2000 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Private Inflows when Crises are Anticipated by : Michael P. Dooley
Download or read book Private Inflows when Crises are Anticipated written by Michael P. Dooley and published by . This book was released on 2000 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Bureau of Economic Research, Inc. offers an abstract of the November 2000 working paper entitled "Private Inflows when Crises are Anticipated: A Case Study of Korea," written by Michael P. Dooley and Inseok Shin. The full text may be purchased online. This paper examines the hypothesis that deregulation of financial markets in Korea provided the incentives and opportunities for a sequence of capital inflows and crisis.
Book Synopsis A Century of Purchasing-power Parity by : Alan M. Taylor
Download or read book A Century of Purchasing-power Parity written by Alan M. Taylor and published by . This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates purchasing-power parity (PPP) since the late nineteenth century. I collected data for a group of twenty countries over one hundred years, a larger historical panel of annual data than has ever been studied before. The evidence for long-run PPP is favorable using recent multivariate and univariate tests of higher power. Residual variance analysis shows that episodes of floating exchange rates have generally been associated with larger deviations from PPP, as expected; this result is not attributable to significantly greater persistence (longer halflives) of deviations in such regimes, but is due to the larger shocks to the real-exchange rate process in such episodes. In the course of the twentieth century there was relatively little change in the capacity of international market integration to smooth out real exchange rate shocks. Instead, changes in the size of shocks depended on the political economy of monetary and exchange-rate regime choice under the constraints imposed by the trilemma.
Book Synopsis The Uneasy Marriage of Export Incentives and the Income Tax by : Mihir A. Desai
Download or read book The Uneasy Marriage of Export Incentives and the Income Tax written by Mihir A. Desai and published by . This book was released on 2000 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the economic impact of tax incentives for American exports.
Book Synopsis Economic Development by : Michael P. Todaro
Download or read book Economic Development written by Michael P. Todaro and published by Pearson UK. This book was released on 2020 with total page 1361 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Economic Development, the leading textbook in this field, provides your students with a complete and balanced introduction to the requisite theory, driving policy issues, and latest research. Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies, to show how theory relates to the problems and prospects of developing countries."--Publisher0́9s description
Book Synopsis An Economic Analysis of Alcohol, Drugs, and Violent Crime in the National Crime Victimization Survey by : Sara Markowitz
Download or read book An Economic Analysis of Alcohol, Drugs, and Violent Crime in the National Crime Victimization Survey written by Sara Markowitz and published by . This book was released on 2000 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to examine the direct relationship between the prices of alcohol and drugs and the incidence of criminal violence in a nationally representative sample of individuals in the United States. The positive association between substance use and violence is well documented, as is the negative relationship between the quantity of alcohol or drugs consumed and their prices. These two relationships together form the principal hypothesis examining whether increases in substance prices will directly decrease the incidence of criminal violence. Violence is measured by assault, rape/sexual assault and robbery. Measures of alcohol or drug involved violent crimes are also considered. The data come from the 1992, 1993 and 1994 National Crime Victimization Surveys. A reduced form model is estimated in which the probability of being a victim of a violent crime is determined by the full prices of alcohol and illegal drugs, the arrest rates for violent crimes, and characteristics of the respondent. Individual- level fixed effects are also employed in some models. Results from the preferred specifications indicate that higher beer taxes lead to a lower incidence of assault, but not rape or robbery. Higher beer taxes will also lead to lower probabilities of alcohol- or drug-involved assault. Decriminalizing marijuana will result in a higher incidence of assault and robbery, while higher cocaine prices will decrease these crimes.
