The endogeneity of the natural rate of growth: An alternative approach

Arbeitspapier

This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we first calculated the BPCRG and then tested the Thirlwall's Law for the U.S. economy. We then proceeded to test the endogeneity using the BPCRG. Empirical results we obtained support Thirlwall's Law and endogeneity.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Economics Discussion Papers ; No. 2015-2

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic Growth and Aggregate Productivity: General ; General Aggregative Models: General ; Macroeconomics: Production ; Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
• Thema: economic growth ; Thirlwall's Law ; the endogeneity of the natural rate of growth ; the bounds testing approach ; ARDL ; FM-OLS

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Senay, Acikgöz ; Mert, Merter
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW)
• (wo): Kiel
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/106142
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ