Now showing items 1-4 of 4

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      Adam Smith on Capital and Income 

      Ormazabal Sánchez, Kepa Mirena (2002-02)
      In this paper I critically analyze Smith's thesis in book I, chapter 6 of the "Wealth of Nations" that the replacement of the capital goods consumed in production becomes fully income. I argue that Smith’s argument is ...
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      Consumption-Leisure Trade-offs and Persistency in Business Cycles 

      Barañano Mentxaka, Ilaski; Moral Zuazo, María Paz (2007)
      This paper studies whether nonseparabilities between consumption and leisure may help to explain the observed persistence in GNP growth. We consider an extended version of Lucas' (1988) human capital investment model that ...
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      Dornbusch and Fischer on Capital and Income 

      Ormazabal Sánchez, Kepa Mirena (2002-05)
      In this paper I critically analyze the relationship that professors Dornbusch and Fischer establish among the concepts of GNP, NNP and aggregate income. In principle, aggregate income is NNP; indeed, the whole point of ...
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      Output dynamics in an endogenous growth model 

      Barañano Mentxaka, Ilaski; Moral Zuazo, María Paz (2003-07)
      The aim of this paper is to analyze whether endogenous growth RBC models are consistent with two stylized facts about U.S. output dynamics. First, GNP growth is positively correlated in the short run and it has a weak ...