Schumpeterian Growth and Endogenous Business Cycles

This paper looks at the linkages between growth and business cycles by bringing together two strands of literature. We incorporate a quality ladders engine of growth into an otherwise standard real business cycle model. We are interested in whether the process which leads to technological improvement over time, is also a good candidate for the process which leads to business cycles. We use a standard real business cycle approach to solve for rules of motion in our state variables and proceed to generate artificial time series. We compare the statistical properties of these series with their historical counterparts to determine if the model mimics the real world closely. One advantage our approach has over the standard approach is that the trend component is included in our artifical series just as it is in the data. Hence, we are not tied to any particular filtering method when we compare simulations with the real world data. Quantitative analysis reveals the model is capable of accounting for key features of fluctuations at various frequencies. Moreover, the model can do so without relying as heavily on highly persistent exogenous shocks as standard models must.

Market Structure and Schumpeterian Growth

We present a discrete-time version of an otherwise standard Schumpeterian growth model. Discrete time exhibits two important differences from continuous time. First, the probability of successful innovation cannot be homogeneous of degree one in inputs. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product of inputs. Second, R&D firms sometimes innovate simultaneously. The resulting market conduct is critical. We consider both Bertrand competition and collusion among successful innovators. Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&D sector if Bertrand competition ensues following ties. In contrast, demand for R&D inputs is higher if ties are expected to result in collusion. In general equilibrium, Bertrand competition leads to random switching between monopoly and competitive production. Under collusion, production is always at the monopoly level, but there is faster growth. Numerical simulations suggest that this also leads to higher welfare.growth, market structure

What Effect does the Size of the State-Owned Sector Have on Regional Growth in China?

This abstract will be reformatted upon submission. You don't need to format for line-breaks here!!!!! This paper tests the contributions of the size of state-owned enterprises as a determinant of China’s economic growth. The methodology is discussed in papers by Levine and Renelt (1992) and Sala-i-Martin (1997). We estimate regressions with growth of output and total factor productivity as the dependent variable and a variety of other factors, including measures of the size of the state-run sector, as regressors. We find that controlling for a variety of other factors, the greater the importance of state owned enterprises, as measured by the proportion of total industrial production they produce, the lower the provincial growth rate. The average estimate is that a decrease in the SOE share of industrial production by ten percentage points increases real GDP growth the following year by 1.14%. The average impacts of a reduction in the SOE share in employment are smaller in absolute magnitude and different for large provinces than they are for small ones. Large provinces actually have higher growth rates if this share rises, while smaller provinces have higher growth rates when it falls.growth regressions, China, State-Owned Enterprises

Is Schumpeterian "Creative Destruction" a Plausible Source of Endogenous Real Business Cycle Shocks?

This paper looks at the linkages between growth and business cycles by bringing together two strands of literature. We incorporate a quality ladders engine of growth into an otherwise standard real business cycle model. Our fundamental question is, can Schumpeter’s creative destruction process which leads to technological improvement over time also generate realistic business cycles? We use a standard real business cycle approach to solve for rules of motion in our state variables and proceed to generate artificial time series. We compare the statistical properties of these series with their historical counterparts to determine if the model mimics the real world closely. One advantage our approach has over the standard approach is that the trend component is included in our artificial series just as it is in the data. Hence, we are not tied to any particular filtering method when we compare simulations with the real world data. Quantitative analysis reveals the model is at least as capable of accounting for key features of fluctuations at various frequencies as a model with exogenous technology shocks. Moreover, the model can do so without relying as heavily on a highly persistent generating process for such exogenous shocks as standard models must.Schumpeter, growth, cycles, real business cycles

The Economic Reunification of Korea: A Dynamic General Equilibrium Model

This paper constructs a dynamic specific factors model to examine the impact of the economic reunification of North and South Korea. The model is a compromise between the highly stylized neoclassical models of trade found in the theoretical trade literature, and the highly aggregated models used in dynamic macroeconomics. We find that the policies with the biggest effects on aggregate output are changes in government tax and spending rates, particularly spending on infrastructure. In contrast, we find that both skilled and unskilled wages are much more responsive to the particulars of trade policy, particularly openness to intra-Korea trade and intra-Korea labor mobility. The location of production in a fully integrated Korean economy is determined by the location of infrastructure.factor mobility; dynamic general equilibrium; specific-factors; Korea

Design and characterization of some novel magnetic nanomaterials

Ph.DDOCTOR OF PHILOSOPH

Love and Logic in the Classroom: Reshaping the Teacher-Student Culture

The purpose of this action research project was to determine how the implementation of Love and Logic strategies, learned in the Parenting the Love and Logic Way seminars, impact the classroom culture. Five weekly Parenting the Love and Logic Way sessions were attended, where such strategies were learned and then utilized within the classroom setting. The findings generally suggest that implementing such did have a positive impact on the teacher-student connection and classroom culture. Overall, conducting such implementation allowed for reflection, growth, and an increased awareness of the connection between teacher-student interaction and the classroom culture

Development Of Lean Environmental Management Intergration System For Sustainbility Of ISO 14001:2004 Standard

Nowadays, organizations are rapidly taking measures in integrating Environmental Management System (EMS) and lean practices in all types of environmental conditions in order to enhance their performance and efficiency. The main objective of this study is to propose a model that provides an EMS by integrating of ISO 14001:2004 standard with the lean principles that ensures the continuous improvement and sustainability for the organization in the current environment. This study develops the conceptual framework for EMS through integrated lean principles with ISO 14001. The developed model will be known as “Lean Environmental Management Integration System” (LEMIS). The developed framework will be tested in order to provide the conclusion to the study. This study conducts quantitative research to identify the answers for proposed objectives. Here, questionnaire is designed and provided to 140 managers from various organizations in Malaysia. The collected data is be tested by using SPSS tools. The findings of the study confirm that, successful integration of EMS, lean principles and ISO 14001 brings various advantages to the entire organization including employees, stakeholders, community, and customers. LEMIS performance measurement model was developed to visualize all the performance measures and involvement of all levels of employees to enhance the problem solving capability. The case study in real life implementation were used for results validation. Visual indicators helps the field workers avoid the repetition of past problem and only noticing the symptoms and quickly responded and take preventive actions. This study concludes that, integration of EMS and lean principles with ISO 14001 have ability to enhance the performance and efficiency of the organization