Journal ArticleDOI
Neoclassical Theory of Investment Behavior: A Comment
Robert Eisner,M. I. Nadiri +1 more
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Hinrichs, H. H., "Determinants of Government Revehue Share Among Less Developed Countries," Economic Journal (Sept. 1965), 546-556 as discussed by the authors.Abstract:
Transfers from Developed to Underdeveloped Areas," Study Week on the Econometric Approach to Development Planning, Pontificiae Academie Scientiarum Scripts Varia (Amsterdam: NorthHolland Publishing Company, 1965). [4] Hinrichs, H. H., "Determinants of Government Revehue Share Among Less Developed Countries," Economic Journal (Sept. 1965), 546-556. [5] Lall, S., "A Note on Government Expenditure in Developing Countries," Economic Journal (June 1969), 413-416. [6] Rahman, Md. Anisur, "Foreign Capital and Domestic Savings: A Test of Haavelmo's Hypothesis with Cross-Country Data," this REVIEW (Feb. 1968), 137-138. [7] Roe, A. R., "The Government-Revenue Share in Poorer African Countries -A Comment," Economic Journal (June 1968), 479-481.read more
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Directed Technical Change
TL;DR: In this paper, the authors developed a simple framework to analyse the forces that shape the bias of technical change towards particular factors, and applied this framework to develop possible explanations to the following questions: why technical change over the past 60 years was skill biased, and why the skill bias may have accelerated over 25 years? Why new technologies introduced during the late eighteenth and early nineteenth centuries were unskill biased.
Journal ArticleDOI
Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
Michael Ehrmann,Michael Ehrmann,Leonardo Gambacorta,Leonardo Gambacorta,Jorge Martínez-Pagés,Patrick Sevestre,Andreas Worms +6 more
TL;DR: In this article, a comprehensive comparison of the structure of banking and financial markets in the euro area is presented, based on which several hypotheses about the role of banks in monetary policy transmission are developed.
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The monetary transmission mechanism in the euro area: evidence from VAR analysis
Gert Peersman,Frank Smets +1 more
TL;DR: In this paper, the authors apply the identified VAR methodology to synthetic euro area data from 1980 till 1998 to study the macroeconomic effects of an unexpected change in monetary policy in the euro area.
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A VAR Description of the Effects of Monetary Policy in the Individual Countries of the Euro Area
Benoit Mojon,Gert Peersman +1 more
TL;DR: In this article, the authors present a complete set of results describing the effects of monetary policy in 10 countries of the Euro area for the pre-EMU period and show that an unexpected rise in the short-term interest rate leads to a decrease in GDP, with investment and exports falling more than consumption.
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Tax Policy and Business Investment
TL;DR: In this paper, tax policy and business investment are reviewed and the effects of tax policy on business investment in the long run and short run are discussed. But the authors focus on the short run and do not consider the long-run.
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Journal ArticleDOI
Application of Least Squares Regression to Relationships Containing Auto-Correlated Error Terms
D. Cochrane,G. H. Orcutt +1 more
TL;DR: Evidence is presented showing that the error terms involved in most current formulations of economic relations are highly positively autocorrelated and it is demonstrated that when estimates of autoregressive properties of error terms are based on calculated residuals there is a large bias towards randomness.