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Table Of Contents

A. Globalization, Specialization and Innovation Dynamics
A.1 Introduction
A.2 Approaches in Modern Macroeconomics
A.3 Human Capital, Physical Capital and Innovations in Open Economies
A.4 A Critique of the Heckscher-Ohlin-Samuelson Approach
A.5 Solving the Leontief Paradox?
A.6.1 A Generalization of the Solow Growth Model
A.6.2 Aspects of Empirical Analysis of Economic Development
A.7 Technological Progress and the Long Run Price Level
A.7.1 Process Innovations
A.7.2 The Model A.7.2.1 True Long Run Equilibrium in the Money Market
A.7.2.2 Long Run Growth Perspective
A.7.4 Solow Model and Role of Money for Growth
A.7.6 Technological Progress Cycles
A.7.9 Long Run Phillips Curve in a Growing Economy
A.7.10 Variable Output Elasticity of Capital
A.8 Foreign Direct Investment and Innovation
A.8.1 Innovation Dynamics and Multinational Companies
A.8.2 Modified Multiplier in Macro Model with FDI Outflows
A.9 Output Dynamics: Interaction of the Demand Side and the Supply Side
A.10 Growth Accounting Under Unemployment and Okun’s Law
A.11 Innovation, Trade and Foreign Investment
A.12 Conclusions
Appendix A.3: Labor Markets with Tradables and Nontradables
B.1 Introduction
B.2 A Medium-term Keynes-Solow Model
B.2.1 Capital Accumulation Dynamics and Profit Maximization
B.2.3 Multiplier Analysis
B.3 Conclusions and Possible Extensions
C. Economic Integration, Technological Progress and Growth
C.1 Rich Countries vs. Poor Countries and Economic Integration
C.2 Set-up of the Model
C.2.1 Convergence in a Hybrid Growth Model with Trade and R&D
C.2.2 Profit Maximization in the Hybrid Growth Model
C.4 Policy Conclusions
Appendix C.1: Basic Neoclassical Model
Appendix C.2: General Approach and Simulations
D.1 Introduction
D.3 Real Exchange Rate Dynamics and Economic Effects
D.3.1 Real Exchange Rate and Trade
D.3.2 Real Exchange Rate and Structural Change
D.3.3.2 Negative International Spillovers?
D.5 Wages, Prices and the Real Exchange Rate
D.6 Towards an Integrated Macroeconomic Approach
D.8 Economic Catching-up and Long Term Real Exchange Rate Dynamics
D.9 Policy Implications
E.1 Introduction
E.2 Growth, Trade and Innovation
E.2.1 New Production Function for Open Economies
E.2.2 Foreign Direct Investment
E.3.3 Wage Bargaining as Inherent Source of Unemployment?
E.4.1 The Role of Risk and Innovation
E.5 Conclusions and Policy Implications
Appendix E.2: Mathematical Appendix
Appendix E.3: Reflections on EU Eastern Enlargement
Appendix E.4: Fiscal Multiplier in a Hybrid Approach
F.1 Introduction
F.2.1 Stylized Facts of Exchange Rates and Stock Market Prices
F.4 Capital Asset Pricing Model and Product Innovations
F.5 Consumption, Volatility and Growth
F.6 Policy Issues and Conclusions
Appendix F.1: Slope of Equilibrium Lines
G. Innovation Dynamics and Optimum Growth
G.1 Introduction
Standard and New Growth Theory
G.2.1 Optimum Endogenous Growth
G.2.1.1 Role of Government Consumption
G.2.1.2 New Political Economy
G.2.1.3 High Population Growth vs. Ageing Societies
G.2.1.4 Unemployment and Growth
G.2.3 Biased Technological Progress and Optimum Growth
G.2.4 Efficient versus Optimal International Specialization
G.3 Policy Implications
Appendix G.1: Optimum Quantity of Money
Appendix G.3: Endogenous Progress in the Capital Goods Sector
Appendix G.5 The Macroeconomic Foundation of Microeconomics
H. Trade, Structural Change and Growth in an Open Monetary Economy
H.1. Introduction
H.2. Exchange Rate Dynamics, Relative Prices, Employment and Growth
H.2.2 Real Exchange Rate, Growth Path and Steady State
H.2.3 Investment, Real Exchange Rate and Employment
H.3 Real Exchange Rate Dynamics and Economic Effects
Appendix H.1: Statistical Measures of Structural Change
Appendix H.2: Indicators Measuring Structural Change
I.1 Introduction
I.2 Innovations and New Economic Structures in the Digital Economy
I.2.1 Selected Innovation Traits in OECD Countries
I.2.2 Innovation System and Innovation Record
I.3 Theory of Innovation Policy
I.3.1 The Standard Case
I.3.1.1 Intermediate Traded Products, R&D Subsidies and Rent- Shifting
I.4 Policy Conclusions
I.4.2.2 Skill Upgrading and Reform of the Education System
I.4.2.3 Problems with Immigration of Unskilled Labour
I.4.2.6 A European Policy Perspective
Appendix I.2: Product Innovations and Network Effects in a Simple Model
J. EU Innovation Policy: Analysis and Critique
J.1 Introduction
J.2 Innovation Policy in the EU
J.3 Innovation Dynamics in OECD Countries
J.3.2 Comparative Innovation Dynamics
J.3.3 Acceleration of Innovation Dynamics
J.3.4 Specialization in Innovation and ICT Network Perspectives
J.3.5 Openness, Taxation and Growth
J.4 Recommendations for Future EU Innovation Policy
K.1 Introduction
K.2 Financial Market Integration in the EU
K.2.1 From Basic Theory to Endogeneous Growth Approaches
K.2.2 Current Account Dynamics: A New Approach
K.4 Policy Conclusions
K.5.1 Basics of the Dornbusch Model
K.5.2 The Modified Dornbusch Model
L.1 Introduction
L.2 Theory of Natural Resource Pricing
L.2.1 Technological Progress in the Oil Industry
L.2.2 Non-Stationarity of Oil Prices?
L.2.3 Which Interest Rate is Relevant?
L.2.4 Long Term Macroeconomic Aspects of Oil Price Dynamics
L.3 Oil Price Regression Analysis
L.4 Policy Implications
L.5 Sustainability Issues
Appendix L.1: Data Sources
References
List of Figures
List of Tables
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Innovations in Macroeconomics

Innovations in Macroeconomics

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Published by: crunch44448252 on Jan 05, 2011
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