Ramsey’s Conjecture in a Stochastically Growing Economy

Author(s):  
Tamotsu Nakamura
Keyword(s):  
1954 ◽  
Vol 62 (5) ◽  
pp. 442-442
Author(s):  
John G. Gurley

2020 ◽  
Vol 3 (1) ◽  
pp. 25-41 ◽  
Author(s):  
Quan Hoang Vuong ◽  
Viet Phuong La ◽  
Thu Trang Vuong ◽  
Phuong Hanh Hoang ◽  
Manh Toan Ho ◽  
...  

AbstractThis study explores entrepreneurship research in Vietnam, a lower-middle-income country in Southeast Asia that has witnessed rapid economic growth since the 1990s but has nonetheless been absent in the relevant Western-centric literature. Using an exclusively developed software, the study presents a structured dataset on entrepreneurship research in Vietnam from 2008 to 2018, highlighting: low research output, low creativity level, inattention to entrepreneurship theories, and instead, a focus on practical business matters. The scholarship remains limited due to the detachment between the academic and entrepreneur communities. More important are the findings that Vietnamese research on entrepreneurship, still in its infancy, diverges significantly from those in developed and emerging economies in terms of their content and methods. These studies are contextualized to a large extent to reflect the concerns of a developing economy still burdened by the high financial and nonfinancial costs.


Author(s):  
Pierre-Richard Agénor ◽  
Luiz A. Pereira da Silva

AbstractThe effects of capital requirements on risk-taking and welfare are studied in an overlapping generations model of endogenous growth with banking, limited liability, and government guarantees. Capital producers face a choice between a safe technology and a risky, more productive but socially inefficient, technology. Bank risk-taking is endogenous. As a result of a skin in the game effect—motivated either as an aggregate externality, or as the outcome of the optimal choice of monitoring effort by individual banks—default risk is inversely related to the capital adequacy ratio. Numerical simulations show that in an equilibrium where banks extend both safe and risky loans, the skin in the game effect must be sufficiently strong for a welfare-maximizing regulatory policy to exist. These results remain qualitatively similar with endogenous monitoring costs and a strong effect of monitoring on entrepreneurial moral hazard. However, numerical experiments also suggest that the optimal capital adequacy ratio may be too high in practice and may require concomitantly a broadening of the perimeter of regulation and a strengthening of financial supervision to prevent disintermediation and distortions in financial markets.


2021 ◽  
Vol 13 (3) ◽  
pp. 1228
Author(s):  
Javier Arnaut ◽  
Johanna Lidman

The environmental Kuznets curve (EKC) hypothesis assumes there is an inverted U-shape relationship between pollution and income per capita, implying an improvement in environmental quality when a growing economy reaches a high level of economic development. This study evaluated empirically the existence of the environmental Kuznets curve in Greenland for the period 1970–2018. Using an autoregressive distributed lag (ARDL) approach, the results show evidence of a U-shaped EKC in Greenland instead of the hypothesized inverted U-shape. The findings indicate that Greenland had initially experienced a decoupling transition during an early development stage associated with structural conditions of a small subsistence economy. However, once the country began to expand its industry, the trend began to reverse, creating a positive and significant relationship between CO2 emissions and GDP per capita that is potentially detrimental to the Arctic natural environment.


Babel ◽  
2015 ◽  
Vol 61 (2) ◽  
pp. 283-303 ◽  
Author(s):  
Lily Lim ◽  
Kwok Ying Loi

Slogans play an important role in conveying information to targeted audiences, and the translation of slogans tends to be studied under the rubric of public-notice translation. Previous research mainly uses researchers’ expertise to evaluate the quality of this type of translation. Yet, little is known about what the targeted readers think about the translation, although their opinions present key information that helps to determine whether the translation has achieved the intended effect. This paper elicits and systematically analyzes readers’ responses. We investigate the case of Macao, a rapidly growing economy where the demand for English translation has markedly increased in recent decades. Public administration bodies in Macao have commissioned Chinese-to-English translation in varied areas such as tourism, social security and welfare, cultural and sports events. We sampled ten translated slogans that were used in the public sector, and administered survey questionnaires (n=130) to both source-text and target-text readers. The two groups of readers’ evaluations, based on the criteria of fluency, conciseness, persuasiveness and mnemonic effect, reveal that the translations are perceived significantly less favorably than the originals are. Readers most strongly disliked word-for-word translations, and pointed out numerous problems with the translations such as ungrammaticality, inappropriate word use, lack of appeal, and unintelligibility due to insufficient background knowledge. This research demonstrates the tangible value of using readers’ responses to evaluate translation quality. It also has implications for translator training, and recommends that public authorities should institute a rigorous quality assurance system.


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