Suchergebnisse

I investigate the wealth distribution & endogenous fiscal policy in a two-class growth model in which individuals exhibit a desire for social status. The latter is increasing with individual wealth & decreasing with the average wealth of the society. First, I show that status-seeking is crucial in determining the long-run wealth distribution: agents with stronger status motive end up holding a higher level of wealth. Second, higher wealth inequality can be associated with a higher growth if the inequality is due to a stronger incentive of one class of agents to accumulate wealth. Third, the model implies that a higher growth rate may reduce welfare of one class of agents & increase welfare of the other one. Finally, when fiscal policy is determined through a voting mechanism, an increase in the strength of the status motive of the majoritarian class can reduce political-equilibrium growth. 4 Figures, 2 Appendixes, 37 References. [Copyright 2005 Elsevier B.V.]

International audience ; This paper aims to determine an optimal allocation of the European Cohesion Fund (ECF) and compares it with the observed allocation. This optimal allocation is the solution of a donor optimization problem which maximizes recipient countries' GDP per capita to achieve economic convergence in the European Union. Compared to the observed allocation, our solution can identify the recipient countries that can benefit from higher ECF transfers than the observed levels, as those having low relative GDP per capita, large population size and where the ECF has a strong capacity to support economic growth. Result is robust to changes in the specification of the donor's utility function.

International audience ; This paper aims to determine an optimal allocation of the European Cohesion Fund (ECF) and compares it with the observed allocation. This optimal allocation is the solution of a donor optimization problem which maximizes recipient countries' GDP per capita to achieve economic convergence in the European Union. Compared to the observed allocation, our solution can identify the recipient countries that can benefit from higher ECF transfers than the observed levels, as those having low relative GDP per capita, large population size and where the ECF has a strong capacity to support economic growth. Result is robust to changes in the specification of the donor's utility function.

International audience ; We propose a structural approach to investigate total factor productivity (TFP) and economic growth of 58 provinces and municipalities of Vietnam (known as one of the most dynamic emerging economies in the last few years). The analysis is applied to the provincial data that are available to us for the period 2000–2007. TFP is composed of three components: an autonomous technological change, an observed deterministic part depending on external factors, and an unobserved stochastic part. Estimation results do not show any evidence regarding the impacts of national and local public spending on TFP and economic growth of Vietnam's provinces. On the contrary, human capital and industry share (compared to shares of agriculture and services) significantly increase the provincial TFP, helping to explain the cross-province differences in terms of productivity. Finally, TFP of Vietnam's provinces does not converge in the long run as it displays a polarization feature around two main groups of provinces, a large group with low TFP levels and a much smaller group with high TFP levels. This bipolar pattern of TFP distribution supports the competitiveness disparity among the Vietnam's provinces.

International audience ; We propose a structural approach to investigate total factor productivity (TFP) and economic growth of 58 provinces and municipalities of Vietnam (known as one of the most dynamic emerging economies in the last few years). The analysis is applied to the provincial data that are available to us for the period 2000–2007. TFP is composed of three components: an autonomous technological change, an observed deterministic part depending on external factors, and an unobserved stochastic part. Estimation results do not show any evidence regarding the impacts of national and local public spending on TFP and economic growth of Vietnam's provinces. On the contrary, human capital and industry share (compared to shares of agriculture and services) significantly increase the provincial TFP, helping to explain the cross-province differences in terms of productivity. Finally, TFP of Vietnam's provinces does not converge in the long run as it displays a polarization feature around two main groups of provinces, a large group with low TFP levels and a much smaller group with high TFP levels. This bipolar pattern of TFP distribution supports the competitiveness disparity among the Vietnam's provinces.