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-recognizes learning and innovation in agriculture and its crossover supplier segments with manufacturing. The sections analyze …. It then analyzes the learning implications of two theories - unlimited labor and induced innovation - on economic … models that connect learning and innovation to growth require closer attention and have important developmental consequences …
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State capacity is optimized when public institutions are staffed by individuals with public-service motivation. However, when motivated agents value the collective reputation of their place of employment, steady-state equilibria with both high and low aggregate motivation (reputation) in the...
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Recent empirical studies suggest that poor public sector performance in developing nations is due in part to the difficultly of selecting workers whose motivation is aligned with the mission of the institution -- in direct contrast to evidence from developed nations, public sector workers tend...
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The recent global financial crisis has increased interest in macroeconomic models that incorporate financial linkages. Here, we compare the simulation properties of five mediumsized general equilibrium models used in Eurosystem central banks which incorporate such linkages. The financial...
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Monetary policy leaves a fiscal footprint. In some circumstances, relieving the fiscal burden becomes the main goal of policy, and inflation control is subordinate. This article notes that the same is true of macroprudential policy, and it characterizes the size and sign of its fiscal footprint,...
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