We conduct both an approximate Bayesian Model Averaging (BMA) and an exact Bayesian analysis to incorporate break date uncertainty of the mean growth rate into the trend-cycle decomposition of U.S. real GDP. Our results suggest a structural break in mean growth rate of U.S. real GDP in 1970s. Comparing to the models assuming fixed break date, we find higher uncertainty in the posterior density ...

this article deals with budgets social of and health cares and social security during the last two decades and brings their its influence on social welfare into consideration. the author lays emphasis on an increasing growth in social expenditures after the islamic revolution of iran. the author continues discussing credibility ratio from gdp and sets up a series of analyses, and comes to this ...

This paper investigates the relationship between foreign aid and growth in per capita GDP using annual data from the 1960 to 1997 period for a sample of 71 aid-receiving developing economies. The results show that the effect of foreign aid on economic growth is positive, permanent, statistically significant, and sizable: raising foreign aid by $20 per person of the receiving country results in ...

This paper exploits the significant positive response of the share of agricultural value added and GDP per capita growth to variations in the international prices for agricultural commodities and rainfall to construct instrumental variables estimates of the causal effect that changes in the size of the agricultural sector and GDP per capita growth have on the urbanization rate for a panel of 41...

This paper aims to analyze the effect of human capital on economic growth. Linear regression models with ordinary least squares method have been used for the analysis in which the dependent variable of Gross Domestic Product (GDP) per capita growth is decided according to real price and independent variables for human capital are enrollment rate in different education levels and also literacy r...

how inflation taxation affects resource allocation and welfare has received a great deal of attention. so far, this debate has been controversial. in this paper we examine how nominal money growth as a means of public finance affects resource allocation and welfare in a neoclassical endogenous growth model with leisure and money in the utility function and production externality. the present st...