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作者：Lanz, Bruno; Dietz, Simon; Swanson, Timothy
作者单位：University of Neuchatel; University of London; London School Economics & Political Science
摘要：We structurally estimate a two-sector Schumpeterian growth model with endogenous population and finite land reserves to study the long-run evolution of global population, technological progress, and the demand for food. The estimated model closely replicates trajectories for world population, GDP, sectoral productivity growth, and crop land area from 1960 to 2010. Projections from 2010 onward show a slowdown of technological progress, and, because it is a key determinant of fertility costs, si...
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作者：van der Meijden, Gerard; Smulders, Sjak
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute; Tilburg University; Leibniz Association; Ifo Institut
摘要：We argue that expectations about future energy use affect the transition from fossil to renewables because of an interaction between innovation and resource scarcity. This article presents a model of directed technical change to study this interaction. We find that fossil-saving technical change erodes the incentives to implement renewables. Conversely, the anticipation of a transition to renewables diminishes the incentives to invest in fossil technology. As a result, two equilibria may arise...
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作者：Aragones, Enriqueta; Xefteris, Dimitrios
作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); Barcelona School of Economics; University of Cyprus
摘要：We analyze a two-candidate Downsian model considering that voters use shortcuts (e.g., interest-group/media endorsements) to infer candidates' policy platforms. That is, voters do not observe candidates' exact platforms but only which candidate offers the more leftist/rightist platform (relative positions). In equilibrium, candidates' behavior tends to maximum extremism, but it may converge or diverge depending on how voters behave when indifferent policywise between the candidates. When the t...
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作者：Anderson, Simon P.; Foros, Oystein; Kind, Hans Jarle
作者单位：University of Virginia; Norwegian School of Economics (NHH)
摘要：The more functionalities a good offers, the greater is its perceived quality. Equilibrium prices in standard spatial competition models depend solely on quality differences. We assume that new functionalities are more appreciated the closer a product is to a consumer's ideal variety. Prices are then increasing in functionality levels. Furthermore, we endogenize whether consumers buy only one of two varieties (single-purchase) or both (multipurchase). Under multipurchase, there might be a hump-...
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作者：Rathke, Alexander; Straumann, Tobias; Woitek, Ulrich
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; Leibniz Association; Ifo Institut; University of Zurich
摘要：The article discusses Sweden's monetary policy in the 1930s, which has been hailed as the first and only example of successful price-level targeting. Our contribution is twofold. First, we argue that the crucial measure that immediately ended deflationary expectations and enabled a swift recovery was a strong and involuntary devaluation of the currency, not the adoption of a new monetary policy framework. Second, starting from the recent literature on monetary policy at the zero-lower bound, w...
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作者：Seoane, Hernan D.
作者单位：Universidad Carlos III de Madrid
摘要：This article studies the role of endogenous markups in the transmission of volatility shocks in real models. I design a variant of a small open economy model with volatility shocks and firm dynamics that gives rise to endogenous markups. I calibrate this model to match the business cycle facts in emerging economies and show that the impact of volatility shocks is substantially amplified if markups are endogenously time varying. Volatility shocks increase savings, due to precautionary motives, ...
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作者：Yang, Chun-Lei; Xu, Mao-Long; Meng, Juanjuan; Tang, Fang-Fang
作者单位：Nanjing Audit University; Tilburg University; Peking University
摘要：Efficient coordination in large groups is a fundamental issue in economic organizations. We consider the weak-link game with the feature of economies of scale that is necessary for voluntary group growth, in a minimal setup with exit and merger options. We show that large groups with efficient outcomes prevail in most communities. Seed groups form that seem to set a norm of both maximal effort level and mutual trust that there will be no panic when seeing noisy dips. Initial doubters are event...
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作者：Ruhl, Kim J.; Willis, Jonathan L.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Federal Reserve System - USA; Federal Reserve Bank - Kansas City
摘要：We document that new exporters initially export small amounts, grow gradually, and are most likely to exit the export market in their first few years. We find that the standard sunk-cost model cannot replicate these new exporter dynamics: New exporters grow too large too quickly and live too long. In a modified sunk-cost model that can account for these facts, the entry costs needed to match the data are three times smaller than in the sunk-cost model. Dynamic models with richer plant-level he...
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作者：Aronsson, Thomas; Johansson-Stenman, Olof
作者单位：Umea University; University of Gothenburg
摘要：Much evidence suggests that people are concerned with their relative consumption. Yet, positional externalities have so far been ignored in savings-based indicators of sustainable development. This article examines the implications of relative consumption concerns for measures of sustainable development by deriving analogues to genuine saving when people are concerned with their relative consumption. Unless the positional externalities have been internalized, an indicator of such externalities...
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作者：Irmen, Andreas
作者单位：University of Luxembourg; Leibniz Association; Ifo Institut
摘要：Does population aging and the associated increase in the old-age dependency ratio affect economic growth? The answer is given in a novel analytical framework that allows for population aging to affect endogenous capital- and labor-saving technical change. In a steady state capital-saving technical progress vanishes, and the economy's growth rate of per-capita variables reflects only labor-saving technical change. The mere possibility of capital-saving technical change is shown to imply that th...
