Most models currently used to determine optimal foreign reserve holdings take the level of international debt as given. However, given the sovereign's willingness-to-pay incentive problems, reserve accumulation may reduce sustainable debt levels. In addition, assuming constant debt levels does not allow addressing one of the puzzles behind using reserves as...
It is commonly believed that accumulation of Human Capital HC and availability of physical and financial capitals are among the major determinants of economic growth. In a globalised world, where factors of production are increasingly mobile, the process of domestic accumulation of HC might be affected in several ways through...
We present a tractable equilibrium job search model of individual worker careers allowing for human capital accumulation, employer heterogeneity and individual-level shocks. We estimate our structural model on a panel of Danish matched employer-employee data and use it to analyze the determinants of wage dispersion and individual wage dynamics. Our...
Body mass index (BMI, kg/m2) may not be the best marker for estimating the risk of obesity-related disease. Consistent with physiologic observations, an alternative index uses waist circumference WC and fasting triglycerides TG concentration to describe lipid over accumulation. LAP describing lipid over accumulation performed better than BMI (describing weight...
Social Security traditionally has operated on a pay-as-you-go basis - that is, current taxes pay for current benefits. This paper explains the effectiveness of building up assets in the Social Security trust funds. It first describes the economic rationale for such a buildup. It then looks at the debate about...
Research evidence confirms that the accumulation of knowledge contributes to the competitive advantage of firms. In the strategy consulting industry, one of the most knowledge-intensive professional services industries, however, established firms that exploited their knowledge accumulation by adding exploitative consulting practices have found their performance has deteriorated. To investigate this...
This paper explores the role of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous time model is estimated on several European countries, Japan, and the US. Policy simulations illustrate the benefits for EU growth of the deepening of...
The paper analyzes how social barriers to communication affect economy-wide productivity and factor accumulation. Using a dynamic model of an economy that includes a reproducible capital stock physical or human and effective labor, a negative relationship is shown to exist between social barriers to communication and Total Factor Productivity TFP,...
This paper explores two broad and related historical themes. Firstly, the non-neutrality of the impacts of innovations on the demand side of the markets for productive inputs implies that "Innovation" should be understood as contributing to complex interactions among all the proximate "Sources of growth." The second theme underscores a...
The paper reveals that the stochastic discount factor seems volatile, but is this observation of any consequence for aggregate analysis of consumption, capital accumulation, output, etc. This paper outlines the standard frictionless model of aggregate consumption and capital accumulation with time-varying subjective probability adjustments, and obtains four implications for aggregate...
One decompose labor-productivity growth into components attributable to technological change shifts in the world production frontier, technological catch-up movements toward or away from the frontier, human capital accumulation changes in the efficiency of labor, and physical capital accumulation movement along the frontier. The world production frontier is constructed using deterministic...
Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing economies. We quantify the model using a panel of 78 countries over the post war era. The...
This article is not a pitch for investing in bonds, though they are an essential part of most retirement portfolios. No, this is a pitch for investments of any type that have lower risks. It stresses that there is a big difference between the best way to invest before retirement...
The author develops a growth model where a single good can be produced with a traditional and a modern technology. The traditional technology features low Total Factor Productivity TFP and a low share of reproducible capital. In this framework, barriers to capital accumulation affect technology use and therefore aggregate TFP....
"The article shows that in the last several years, many employers have decided to automatically enroll their new employees in the company 401k plan. Using several years of administrative data from three large firms, we analyze the impact of automatic enrollment on 401k participation rates, savings behavior,...
One of the basic motives for saving is the accumulation of wealth to insure future welfare. In theory, the consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from the behavior of these same households in the equivalent economy with complete-markets. The question addresses...
Sigma-Tau Pharmaceuticals, Inc. is pleasedto announce the acquisition of Chenofalk® chenodeoxycholic acid fromthe Germany-based, Dr. Falk Pharma GmbH. Chenofalk® is approved inGermany for the dissolution of gallstones, and Sigma-Tau's Germanaffiliate, Sigma-Tau Arzneimittel GmbH, will immediately assumedistribution of this important medicine, ensuring there is no interruptionin availability to patients. The acquisition...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/bead4f/growth_opportuniti) has announced the addition of the "Growth Opportunities in Emerging EU Wealth: A Strategic Analysis" report to their offering. The emerging EU markets are accumulating wealth considerably faster than the mature EU economies; they are forecast to be the most important...
Washington County has awarded Eagle-Elsner Inc. of Sherwood a construction contract to realign 175th Avenue and Roy Rogers Road north of Scholls Ferry Road. Once completed, the $4.25 million project will replace a three-way intersection where Roy Rogers Road ends at Scholls Ferry Road with a new four-way intersection. ...
Travelstar, Inc. (PINKSHEETS: TVLS), one ofthe nation's largest and fastest-growing travel networks and leading sellerof cruises and vacations, announced today Singapore-based SingXpress, LTD.has filed Form SC13-G with The Securities and Exchange Commission. On July 3, 2008, SingXpress filed with the Securities and ExchangeCommission, representing the holding company had accumulated 2,910,988shares...
Articles 2008-07-08
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