1,667 research outputs found
Elhanan Helpman, Assaf Razin (ed.), International Trade and Trade Policy
No full textSid Ahmed Abdelkader. Elhanan Helpman, Assaf Razin (ed.), International Trade and Trade Policy. In: Tiers-Monde, tome 34, n°136, 1993. L'Europe et le Tiers Monde, sous la direction de Philippe Hugon. pp. 947-948
\u3cem\u3eThe Mystery of Economic Growth.\u3c/em\u3e Elhanan Helpman.
No full textBook note for Elhanan Helpman, The Mystery of Economic Growth. Cambridge, MA: Harvard University Press, 2004. $5.95 hardcover
AN INTERVIEW WITH ELHANAN HELPMAN
No full textElhanan Helpmanis on a quest for knowledge. He is a researcher in transition, constantly redefininghis fields of interest by altering the questions asked and the techniques used. Likemany of the great economists, Elhanan has worked in many areas: open economy macro,trade under uncertainty, the new international economics, growth theory, andpolitical economy, to list the most famous. However, this interview is not intended as areview of his contributions. Rather, it is about what drives Elhanan s creativeprocess: his wide-ranging reading, his characteristic stubbornness in tacklingproblems, the conceptualization of his larger research agenda, and his recollectionsof how he initiated transitions between fields. It is a very personal interview forthose in search of creative inspiration.
Multi-Country Endogenous Growth Models
No full textThe transitional dynamics of open-economy endogenous growth models are largely unexplored. The present paper fills this gap in the literature. By applying the familiar Dixit-Norman (1980) approach to a general class of growth models, it provides original results on the transitional dynamics of the multi-country open-economy versions of several prominent special cases, including the models of Romer (1986, 1990), Lucas (1988), Grossman and Helpman (1991a, Chapters 3 and 4, 1991b), Jones (1995a), and Segerstrom (1998). This approach also shows that, in the class of models considered, the question of whether or not international economic integration accelerates growth in the long run is equivalent to the question of whether or not scale effects prevail. Das dynamische Verhalten der Offene-Volkswirtschaft-Versionen der meisten Modelle endogenen Wachstums ist weitgehend unbekannt. Diese Lücke in der Literatur füllt die vorliegende Arbeit. Durch die Anwendung des wohlbekannten Dixit-Norman- (1980) Ansatzes wird das dynamische Verhalten einer Klasse von Wachstumsmodellen beschrieben, die die bekannten Modelle von Romer (1986, 1990), Lucas (1988), Grossman und Helpman (1991a, Kapitel 3 and 4, 1991b), Jones (1995a) und Segerstrom (1998) als Spezialfälle umfasst. Die Analyse zeigt darüber hinaus, dass die Frage, ob ökonomische Integration auf lange Sicht das Wachstum beschleunigt, gleichbedeutend zur Frage ist, ob die Ökonomie "Größeneffekte" aufweist.Reale Außenwirtschaftstheorie ; Endogenes Wirtschaftswachstum; ; international trade ; endogenous growth
Endogenous Macroeconomic Growth Theory
No full textThe paper focuses on the innovation-based approach to endogenous growth. It begins by spelling out conditions for sustained long-run growth in neoclassical economies and uses these conditions as a standard of comparison for the conditions required to sustain long-run growth in economies with product innovation. It presents two models of product innovation that can sustain growth in the long run. The models share the same fundamental mechanism of economic growth. They are used to derive a variety of implications relating structural features to long-run growth rates and they are then applied to a number of policy issues. The usefulness of the approach represented by these models is examined by considering a number of issues, such as unemployment and trade relations.
Recommended from our members
Essays on the Consequences of Innovative Industries
No full textThis dissertation develops novel modeling techniques, theoretical insights and empirical estimations in order to uncover a diverse set of downstream consequences from innovative industries.
Chapter 1, which is co-authored with Elhanan Helpman, provides a theoretical framework which allows us to analyze the dynamics of industries constituted by a continuum of small firms and a finite number of large multi-product firms. The presence of a competitive fringe of small firms allows us to provide analytical results which are consistent with observed patterns of increased markups and concentration and a decreased labor share. Furthermore, the model predicts an inverted-U relationship between product span and productivity with implications for industry dynamics.
Chapter 2 focuses on the response to changes in skill demand precipitated by the proliferation of skill-biased technologies. The main focus is on the spatial winners and losers from rising skill premiums. This chapter highlights the impact that skill acquisition which is biased in favor of local-skill demand can have on spatial inequality and economy-wide productivity. The main takeaway is that there is large scope for a trade-off between static productivity gains from agglomeration and dynamic gains from local signaling.
Chapter 3, co-authored with Zoë Hitzig, considers how the rise of new industries might affect the optimal regulation of bilateral contracts. We begin by building a mechanism design framework which theoretically motivates the use of default and immutable laws in the regulation of contracts. We consider a setting with observable but unverifiable information which is common knowledge to two agents which efficiently bargain over their joint surplus. Our mechanism design framework makes clear how the principal optimally uses defaults in order to achieve equity objectives and sets immutable laws to internalize externalities. We then apply this framework to the current debate on the classification of gig-workers in order to highlight the tradeoffs between these two forms of regulation when the regulator cannot achieve first best
Stabilization with Exchange Rate Management under Uncertainty
No full textStabilization programs in open economies typically consist of two stages. In the first stage the rate of currency devaluation is reduced, but the fiscal adjustment does not eliminate the fiscal deficit which causes growth of debt and loss of reserves, making a future policy change necessary. Only later, at a second stage, is this followed by either an abandonment of exchange rate management or by a sufficiently large cut in the fiscal deficit. We study how different second-stage policy changes affect economic dynamics during the first stage. These changes include tax increases, budget cuts on traded and nontraded goods, and increases in the growth rate of money. Under certainty about the timing and nature of a switch, current account developments provide information about which policy instrument is expected to be used for stabilization. Uncertainty about the timing of a stabilization is shown to be important in explaining phenomena such as continuous reserve losses and the possibility that a policy change is accompanied by a surprise discrete devaluation rather than a run on reserves.
The backlash of globalization
No full textWe review the literature on the globalization backlash, seen as the political shift of voters
and parties in a protectionist and isolationist direction, with substantive implications on
governments leaning and enacted policies. Using newly assembled data for 23 advanced
democracies, we document a protectionist and isolationist shift in electorates, legislatures,
and executives from the mid-1990s onwards. This is associated with a noticeable protectionist
shift in trade policy –although with some notable nuances– especially since the financial
crisis of 2008. We discuss the economics of the backlash. From a theoretical perspective,
we highlight how the backlash may arise within standard trade models when taking into account
the ‘social footprint’ of globalization. Then, we review the empirical literature on the
drivers of the backlash. Two main messages emerge from our analysis: (1) globalization is a
significant driver of the backlash, by means of the distributional consequences entailed by
rising trade exposure; yet (2) the backlash is only partly determined by trade. Technological
change, crisis-driven fiscal austerity, immigration, and cultural concerns are found to play
an important role in creating politically consequential cleavages. Looking ahead, we discuss
possible future developments, with specific focus on the issue of social mobility
Exchange Rate Management: Intertemporal Tradoffs
No full textThe management of the exchange rate is possible only if the government pursues a monetary-fiscal policy mix which is consistent with its exchange rate targets. In this paper with uncertainty concerning the length of individual life the real consequences of exchange rate management depend on the precise time pattern of the accompanying policies. We look at a stylized example of disinflation by means of exchange rate targetting with an initial overvalued currency and a delayed accompanying absorbtion policy. The result will be an intergenerational redistribution of welfare whereby spending rises during the initial period and falls during later periods, while the external debt rises in all periods.
- …
