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Full-Text Articles in Economics
Does A Change In Immigration Affect The Unemployment Rate In Host Countries? Evidence From Australia, Mostafa Aboelsoud, Anas Alqudah, Eman Elish
Does A Change In Immigration Affect The Unemployment Rate In Host Countries? Evidence From Australia, Mostafa Aboelsoud, Anas Alqudah, Eman Elish
Economics
is study examines and evaluates the dynamic causality relationship between immigration, unemployment, wages and GDP per capita in host countries with a focus on Australia. Previous research has indicated that the economic impact of immigration is significant; nonetheless, its effect on the labour market being positive or negative is inconclusive. This study uses a Vector Error Correction Model (VECM) to examine the dynamic short- and long-run nexus between these variables in Australia over the period 1980–2016. The paper provides clear evidence to policymakers on the positive spillover effect of immigration policies developed by the Australian government.
U.S. Economic Growth In The Gilded Age, Alexander J. Field
U.S. Economic Growth In The Gilded Age, Alexander J. Field
Economics
In the immediate postwar period, Moses Abramovitz and Robert Solow both examined data on output and input growth from the first half of the twentieth century and reached similar conclusions. In the twentieth century, in contrast with the nineteenth, a much smaller fraction of real output growth could be swept back to the growth of inputs conventionally measured. The rise of the residual, they suggested, was an important distinguishing feature of twentieth century growth. This paper identifies two difficulties with this claim. First, TFP growth virtually disappeared in the U.S. between 1973 and 1995. Second, TFP growth was in fact …
The Equipment Hypothesis And U.S. Economic Growth, Alexander J. Field
The Equipment Hypothesis And U.S. Economic Growth, Alexander J. Field
Economics
In several articles published in the 1990s, de Long and Summers argued that investment in producer durables had a high propensity to generate externalities in using industries, resulting in a systematic and substantial divergence between its social and private return. They maintained, moreover, that this was not the case for structures investment. Together, these claims constitute the equipment hypothesis. This paper explores the degree to which the history of US economic growth in the 20th century supports it.
Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field
Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field
Economics
Multifactor productivity growth in the U.S. economy between 1919 and 1929 was almost entirely attributable to advance within manufacturing. Distributing steam power mechanically over shafts and belts required multistory buildings for economical operation. The widespread diffusion of electric power permitted a shift to single story layouts in which goods flow could be optimized around work stations powered by small electric motors. Within this framework, as well as opportunities to produce a variety of new products, economies of scale and learning by doing permitted rapid and across the board gains in manufacturing productivity. The sector contributed 83 percent of the 2.02 …
Funded Pensions, Labor Market Participation, And Economic Growth, Mark A. Roberts, Eric O'N. Fisher
Funded Pensions, Labor Market Participation, And Economic Growth, Mark A. Roberts, Eric O'N. Fisher
Economics
This paper analyses a model of overlapping generations in which agents who do not participate in the labor market are unable to borrow. Thus an increase in a fully funded pension raises aggregate savings even with a fixed participation rate since private savings are not crowded out one-for-one. When labor force participation is determined endogenously, a rise in the level of fully funded pensions increases the aggregate labor supply. This in turn increases aggregate savings and growth, directly by raising per capita savings and indirectly through tax and interest rate effects.