This study considers a three-period overlapping generations model with an endogenous growth setting, in which agent borrows the first period and repays loan second under perfect credit market. Two educational subsidy schemes are considered: one is provided when other their loan. compares rates social welfare each scheme at unique balanced path equilibrium. The contribution of this paper that it...

â â â  â â  the paper uses economic and energy data analysis and econometric modeling to study the prospects and challenges of korea’s 2003 fta roadmap (mofat 2013) in the form of potential comprehensive partnerships with its major trade and energy partners. it first reviews korea’s international economic and trade relations in recent years with a focus on its major merchandise export desti...

Convergence hypothesis is one of the results of neoclassical growth model, which has been examined recently. This hypothesis has two forms of absolute and conditional Beta-convergence and implies that regions with lower per capita output have higher per capita growth rates. Since there is no data for regional GDP in Iran, there has been n study to test convergence hypothesis in Iran. Our main c...

In this study, a macro-economic model consisting of twelve behavioral equations and fourteen identity equations was estimated with the aim of investigating the effectiveness of monetary and fiscal policies set out in the fourth and fifth development plans. In the estimated model, the variables of development expenditures, current expenditures and tax revenues are used as fiscal policy tools and...

This paper extends a recent class of quantitative models of international trade to incorporate factor mobility within countries. We present a model-based decomposition of the variance of economic activity into the contributions of locational fundamentals, market access and their covariance. We show how the standard framework for undertaking model-based counterfactuals in trade can be augmented ...

This article investigates the cyclical properties of an endogenous growth model. An explicit solution is derived which permits the full characterization of the cyclical as well as the long{run properties of the model. Using spectral, autocorrelation and impulse response functions, we show that introducing endogenous growth overcomes some of the main shortcomings of RBC models. In particular, th...