Industrial development and the convergence question
Article Abstract:
Research was conducted to examine endogenous world balanced-growth equilibria in which national learning productivity differentials govern relative per capita products. A model aimed at interpreting the diverse patterns of divergence, overtaking and convergence of per capita products that have characterized industrial development has been developed. Results suggest that learning productivity differentials did not lead to permanent growth differentials but determined relative global standing in world balanced growth.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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The case for forecast targeting as a monetary policy strategy
Article Abstract:
It is argued that inflation-forecast targeting is a powerful synthesis of monetary rules and discretionary monetary policy and is an improvement over simpler rules. The ways in which policy decisions are affected by forecasts of other economic variables are also discussed.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 2007
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