We show that every twice-continuously differentiable and strictly concave function f : R+ → R+ can be bracketed between two C.E.S. functions at each open interval. In particular, for the Inada conditions to hold, a production ...

This paper studies the long-run impact of HIV/AIDS on per capita income and education. We introduce a channel from HIV/AIDS to long-run income that has been overlooked by the literature, the reduction of the incentives to ...

Neste trabalho faz-se um modelo de gerações sobrepostas em tempo contínuo de acumulação de capital físico e humano em que o capital humano é incorporado da forma como tratado pelos economistas do trabalho: (i)é um fator ...

Due to several policy distortions, including import-substitution industrialization, widespread government intervention and both domestic and international competitive barriers, there has been a general presumption that ...

This article discusses the convenience of adopting industrial policy in Brazil. We argue that the success of East Asian countries, usually explained by industrial policy, is mainly result of horizontal policies. We also ...

We estimate and test two alternative functional forms, which have been used in the growth literature, representing the aggregate production function for a panel of countries: the model of Mankiw, Romer and Weil (Quarterly ...

This paper demonstrates that the applied monetary models - the Sidrauski-type models and the cash-in-advance models, augmented with a banking sector that supplies money substitutes services - imply trajectories which are ...