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on Economic Growth |
| By: | Ryo Sakamoto; Katsunori Minami |
| Abstract: | Sustainable growth has emerged as a critical policy challenge worldwide. We investigate the influence of conventional gender norms on fertility and economic growth to explain the phenomena recently observed across high-income countries. To this end, we construct an overlapping generations model with endogenous fertility and labor supply, incorporating gender norms and R&D activities. We demonstrate that conventional gender norms can impede fertility and economic growth. Specifically, when gender norms are sufficiently conservative, income growth stagnates and population erosion eventually occurs. Conversely, when gender norms are sufficiently less conservative, the economy follows a sustained growth path characterized by simultaneous growth in both population and income per capita. Our results underscore the need to address and correct gender norms to achieve sustainable growth and improve welfare. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:dpr:wpaper:1255 |
| By: | Nader AlKathiri; Abdulelah Darandary (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Using a sample of 94 countries, we analyze the contribution of energy to cross-country economic growth and convergence since 1980. By extending the traditional frontier approach to include energy as an additional factor of production, we decompose economic growth into components attributable to technological catch-up (movement toward or away from the frontier), technological change (shifts in the world production frontier) and changes in factor inputs per unit of labor (movement along the production frontier). |
| Date: | 2024–05–12 |
| URL: | https://d.repec.org/n?u=RePEc:prc:dpaper:ks--2024-dp14 |
| By: | Hoyos, Mateo (Center for Research and Teaching in Economics) |
| Abstract: | This paper documents that the relationship between tariffs and growth varies significantly with economic structure. Using a panel of 161 countries from 1960 to 2019 and employing a local projections difference-in-differences strategy, I show that tariff reductions are associated with higher GDP per capita in manufacturer countries but lower GDP per capita in nonmanufacturer ones. I then reveal that these results are consistent with, and possibly explained by, heterogeneous changes in productivity, capital accumulation, and the manufacturing share of GDP. The heterogeneity is further confirmed by a comprehensive set of robustness checks. The findings suggest that the recent rise in protectionism in manufacturer countries might end up being harmful, and that existing calls for further liberalization in nonmanufacturers could have unintended consequences. |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:v75aw |
| By: | Sasaki, Hiroaki; Sonoda, Ryunosuke |
| Abstract: | This study investigates how the income redistribution policy affects economic growth, employment, income distribution, income inequality, and asset inequality. The income redistribution policy is defined as one that imposes capital taxation on capitalists and redistributes it to workers. Therefore, we constructed a Kaleckian model in which, in addition to capitalists, workers own capital stock through savings. Depending on the relative size of workers' and capitalists' saving rates, we obtained the Pasinetti equilibrium, in which both classes coexist, and the dual equilibrium, in which only workers own capital stock, whereas capitalists do not. In the Pasinetti equilibrium, raising the tax rate for capitalists drives an increase in workers' assets and income shares. Simultaneously, economic growth and employment rates increase when the short-run equilibrium is wage-led growth whereas they decrease when the short-run equilibrium is profit-led growth. Hence, the income redistribution policy is effective in reducing inequality and promoting economic growth and employment when the short-run equilibrium is wage-led. |
| Keywords: | workers' saving; income equality; income redistribution policy; growth; employment |
| JEL: | E11 E12 E64 J31 J53 |
| Date: | 2024–09–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121968 |
| By: | Dawn Chinagorom-Abiakalam; B. Ravikumar; Amy Smaldone |
| Abstract: | An analysis suggests the divergence in GDP growth per capita among richer and poorer countries has reversed since 2000, implying the latter are now catching up. |
| Keywords: | gross domestic product (GDP); gross domestic product (GDP) growth; gross domestic product (GDP) per capita |
| Date: | 2024–08–19 |
| URL: | https://d.repec.org/n?u=RePEc:fip:l00001:98705 |
| By: | Lanati, Mauro; Thiele, Rainer |
| Abstract: | Tackling the root causes of migration from developing countries through development cooperation has been suggested as an essential part of the policy mix in OECD migrant destinations. This is even though the evidence on whether economic development leads to more or less people emigrating is so far inconclusive. We investigate the relationship between income per capita and emigration to OECD countries separately for three different skill groups—low‐skilled, medium‐skilled and high‐skilled emigrants—being the first to employ panel regression approaches that account for cross‐country heterogeneity and cover a policy‐relevant time frame of about 5 years. Our findings reveal a universal negative association between income per capita and emigration for all three skill groups and for different income thresholds. This implies that policy makers should not be too concerned about potential trade‐offs between (successful) development cooperation and immigration management, at least in the short to medium run that our analysis covers. At the same time, the scope for using development cooperation as a migration policy instrument can be considered to be limited given the modest size of the estimated income effect: Taking our point estimates at face value, a 10% rise in GDP per capita would on average lead to about 3600 fewer immigrants per destination. |
| Keywords: | Economic Development, Migrants’ Skill Composition, Migration |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:302107 |
| By: | Ina Ganguli; Jeffrey Lin; Vitaly Meursault; Nicholas F. Reynolds |
| Abstract: | As distorted maps may mislead, Natural Language Processing (NLP) models may misrepresent. How do we know which NLP model to trust? We provide comprehensive guidance for selecting and applying NLP representations of patent text. We develop novel validation tasks to evaluate several leading NLP models. These tasks assess how well candidate models align with both expert and non-expert judgments of patent similarity. State-of-the-art language models significantly outperform traditional approaches such as TF-IDF. Using our validated representations, we measure a secular decline in contemporaneous patent similarity: inventors are “spreading out” over an expanding knowledge frontier. This finding is corroborated by declining rates of multiple invention from newly-digitized historical patent interference records. In contrast, selecting another single representation without validating alternatives yields an ambiguous or even opposing trend. Thus, our framework addresses a fundamental challenge of selecting among different black-box NLP models that produce varying economic measurements. To facilitate future research, we plan to provide our validation task data and embeddings for all US patents from 1836–2023. |
| JEL: | C81 L19 O31 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32934 |