A Rubric for Estimation of Efficiency of Progression on a General Equilibrium Growth Path

2020 ◽  
Author(s):  
Oghenovo A. Obrimah
Keyword(s):  
General Equilibrium ◽  
Growth Path ◽  
Equilibrium Growth

scholarly journals THE EVOLUTION OF TAXES AND HOURS WORKED IN AUSTRIA, 1970–2005

2014 ◽  
Vol 19 (8) ◽  
pp. 1800-1815 ◽  
Author(s):  
John T. Dalton
Keyword(s):  
General Equilibrium ◽  
Growth Model ◽  
Labor Income ◽  
Marginal Tax Rate ◽  
Hours Worked ◽  
Tax Rate ◽  
Time Period ◽  
Working Age ◽  
Equilibrium Growth

Aggregate hours worked per working-age person decreased in Austria by 25% from 1970 to 2005. During the same time period, taxes increased, particularly the effective marginal tax rate on labor income. Using a standard general equilibrium growth model with taxes, I quantitatively assess the role played by the evolution of taxes in the evolution of hours worked in Austria. The model accounts for 76% of the observed decrease in hours worked per working-age person. My results are in line with other studies, which find taxes play an important role in explaining aggregate hours worked.

General Equilibrium, Growth, and Trade. Essays in Honor of Lionel McKenzie

1981 ◽  
Vol 14 (1) ◽  
pp. 174
Author(s):  
Murray C. Kemp ◽  
Jerry R. Green ◽  
Jose Alexandre Scheinkman
Keyword(s):  
General Equilibrium ◽  
Equilibrium Growth

General Equilibrium Theory in Soviet Economic Science:bibliometric analysis

2014 ◽  
pp. 106-125 ◽  
Author(s):  
E. Malkov
Keyword(s):  
General Equilibrium ◽  
Qualitative Analysis ◽  
Bibliometric Analysis ◽  
Equilibrium Theory ◽  
General Equilibrium Theory ◽  
Mathematical Economics ◽  
Von Neumann ◽  
Soviet Literature ◽  
Equilibrium Growth ◽  
Disequilibrium Theory

This paper is the first attempt at quantitative and qualitative analysis of the Soviet literature on general equilibrium theory in 1960-1990s. We divide the papers into four subgroups: von Neumann-Gale class of models and equilibrium growth; Arrow-Debreu class of models; disequilibrium theory; other branches of general equilibrium theory. Bibliometric analysis shows that von Neumann-Gale class of models was the most popular one in the Soviet mathematical economics.

scholarly journals CREDIT AND GROWTH UNDER LIMITED COMMITMENT

2008 ◽  
Vol 12 (S1) ◽  
pp. 20-30 ◽  
Author(s):  
COSTAS AZARIADIS ◽  
LEO KAAS
Keyword(s):  
Sufficient Conditions ◽  
Borrowing Constraints ◽  
Limited Commitment ◽  
Growth Path ◽  
Productivity Shocks ◽  
Weak Property ◽  
Productivity Differentials ◽  
Linear Growth Model ◽  
Necessary And Sufficient ◽  
Equilibrium Growth

We consider a linear growth model with idiosyncratic productivity shocks in which producers cannot commit to repay their loans. Borrowing constraints are determined endogenously by the borrowers' incentives to repay, assuming that defaulters lose a share of output and are excluded from future trade in the credit market. We characterize necessary and sufficient conditions for the enforceability of a first-best equilibrium growth path. Weak property rights, impatient producers, and small productivity differentials can make the efficient growth path nonenforceable and lead to an inefficient equilibrium with binding borrowing constraints. For some economies, multiple balanced growth paths coexist.

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