Losing Ground

Edmund Phelps, Hian Hoon and Gylfi Zoega ()
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Gylfi Zoega: University of Iceland

Chapter Chapter 6 in The Great Economic Slowdown, 2023, pp 97-114 from Springer

Abstract: Abstract The world of two economies, which we take to be China and the US, with a shared capital market where one country has a lower rate of time preference than the other and/or a lower rate of population growth is modeled. With free international capital mobility, there are capital inflows into the US, which becomes the international net debtor and compared to autarky, there is more capital in the US and less in China. The catching-up process for China is shown using the Nelson-Phelps model.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-31441-4_6

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DOI: 10.1007/978-3-031-31441-4_6

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