Directory UMM :Data Elmu:jurnal:I:International Review of Law and Economics:Vol19.Issue3.Sept1999:
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Motivated by Feder’s two-sector model concerning exports and growth, this article intends to propose a dynamic framework, which bases on the production function theory and consists
The main results obtained are: sector-specific migration of labor may raise domestic welfare, while with capital accumulation such migration necessarily raises the relative price of
The policy parameters, the annual money growth rate (or the inflation tax rate) p˙ ( 5 ( z 2 1)/5), and capital gains tax rate t , are calibrated so that the model can predict how
(The fact that they are self-financing means that each investment opportunity also involves a short position in some benchmark, such as cash, which is used to finance the
Although a more complete discussion of the impacts of the various assumptions would have made the chapter better, the current contents of this chapter should be useful both
An increase in the profit tax rate from 0 to 0.10 would increase the domestic output and market share of the host firm, and lower the on-site production of the MNC such that the
In Table 1, for example, for a level of credit risk of 5 percent (a value of credit risk that is considerably above average but well within quarterly estimates for individual
Although concrete evidence is not obtained as to whether the exchange rates are fractionally cointegrated, the d estimates of the error correction term suggest that the exchange
