Titlebook: Economic Growth in Small Open Economies; Lessons from the Vis István Kónya Book 2018 The Editor(s) (if applicable) and The Author(s) 2018 L

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Leben und Werk im überblick — eine Chronikfrom easily available data. The empirically measured distortions are compared across countries and over time, and they are also related observed labor and capital tax rates. The chapter finishes with calculations that quantify the growth potential when the distortions are lowered to empirically plausible levels.

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Bachs Chor. Zum neuen Verst?ndnisnology, and the third is to the external interest premium on foreign debt. The chapter uses the estimated model to carry out a historical shock decomposition exercise, which highlights the relative importance of productivity and interest premium shocks in economic fluctuations in the four Visegrad countries.

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,Diskussion der Einzels?tze von BWV Anh. 77, unexpectedly worsen. The model contains a highly non-linear interest premium function, currency mismatch, and downward nominal wage rigidity (DNWR). It is first contrasted with observed macro developments in the region, and then used to evaluate counterfactuals for exchange rate policy.

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Book 2018 author uses a neoclassical growth model with distortions (wedges) to identify the main sources of economic growth for each of these countries including employment, human capital, capital accumulation and TFP growth. The first part of the book is structured around the concept of production function,

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Methodology and Stylized Factsries, both for economic growth and for cross-country comparisons of economic development. The chapter finishes with a thorough description of the neoclassical production function and how it can be used to decompose a time series of GDP growth and a cross section of GDP levels into contributions of f

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Labor Input and Labor Incomecapital per worker. Detailed data on the school attainment of the employed and their full-time/part-time status is used to construct more precise measures of total labor input than what is typically found in the literature. The chapter finishes with a comparison of total labor input and its componen

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Capital Stock and Capacity Utilizationory method. Difficulties include the calibration of the depreciation rate, the choice for an initial capital stock, and the issue of capital loss during the first years of economic transition in the Visegrad countries. Since capacity utilization is unobserved, the chapter describes different variabl

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