Bequests, Golden-age Capital Accumulation and Government Debt

Economica ◽  
1979 ◽  
Vol 46 (184) ◽  
pp. 403 ◽  
Author(s):  
John P. Laitner
Keyword(s):  
Golden Age ◽  
Capital Accumulation ◽  
Government Debt

scholarly journals From restrained golden age to creeping platinum age: A periodization of Latin American development in the Robinsonian tradition

2015 ◽  
Vol 35 (4) ◽  
pp. 683-707
Author(s):  
MATÍAS VERNENGO
Keyword(s):  
Latin America ◽  
Growth Model ◽  
Latin American ◽  
Real Wage ◽  
Golden Age ◽  
Capital Accumulation ◽  
Output Growth ◽  
The Real ◽  
Theoretical Approaches ◽  
Productive Structure

ABSTRACTThis paper analyzes Joan Robinson's growth model, and then adapted in order to provide an exploratory taxonomy of Growth Eras. The Growth Eras or Ages were for Robinson a way to provide logical connections among output growth, capital accumulation, the degree of thriftiness, the real wage and illustrate a catalogue of growth possibilities. This modified taxonomy follows the spirit of Robinson's work, but it takes different theoretical approaches, which imply that some of her classifications do not fit perfectly the ones here suggested. Latin America has moved from a Golden Age in the 1950s and 1960s, to a Leaden Age in the 1980s, having two traverse periods, one in which the process of growth and industrialization accelerated in the late 1960s and early 1970s, which is here referred to as a Galloping Platinum Age, and one in which a process of deindustrialization, and reprimarization and maquilization of the productive structure took place, starting in the 1990s, which could be referred to as a Creeping Platinum Age.

scholarly journals Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation

2015 ◽  
Vol 105 (11) ◽  
pp. 3443-3470 ◽  
Author(s):  
Piero Gottardi ◽  
Atsushi Kajii ◽  
Tomoyuki Nakajima
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Optimal Taxation ◽  
Optimal Path ◽  
Government Debt ◽  
Optimal Level ◽  
Labor Income ◽  
Human Capital Accumulation ◽  
Issue Public ◽  
Quantitative Importance

We consider an economy where individuals face uninsurable risks to their human capital accumulation and analyze the optimal level of linear taxes on capital and labor income together with the optimal path of government debt. We show that in the presence of such risks, it is beneficial to tax both labor and capital and to issue public debt. We also assess the quantitative importance of these findings, and show that the benefits of government debt and capital taxes both increase with the magnitude of idiosyncratic risks and the degree of relative risk aversion. (JEL D52, H21, H24, H25, H63, J24)

Interest Rates and Crowding-Out During Britain's Industrial Revolution

1987 ◽  
Vol 47 (1) ◽  
pp. 117-139 ◽  
Author(s):  
Carol E. Heim ◽  
Philip Mirowski
Keyword(s):  
Interest Rates ◽  
Capital Accumulation ◽  
Industrial Revolution ◽  
Full Employment ◽  
Private Investment ◽  
Government Debt ◽  
Crowding Out ◽  
Historical Case ◽  
Using Data ◽  
Constrained Models

Available evidence on interest rates and government borrowing during Britain's industrial revolution, while limited, does not support the idea that war spending crowded out private investment. This article demonstrates the importance of using data on net receipts from borrowing, rather than changes in government debt. Weaknesses of the crowding-out model concerning capital markets and investment, openness of the economy, and full employment are identified for the historical case. The case raises broader issues of whether conceptions of saving and investment based in neoclassical supply-constrained models are as appropriate as theories of capital accumulation.

The Golden Age of School Psychology?

1997 ◽  
Vol 42 (9) ◽  
pp. 842-844
Author(s):  
Elizabeth W. Brazelton ◽  
Patsy Barrett ◽  
Jain McGarity ◽  
Nancy Michael ◽  
Carolyn Paul ◽  
...  
Keyword(s):  
School Psychology ◽  
Golden Age
Sign in / Sign up

Export Citation Format

Share Document