Sind unsere gesamtwirtschaftlichen Probleme ueberhaupt loesbar?
The paper draws on Baumol's (1967) model of "unbalanced growth" to show that pressing economic problems of mature economies such as declining growth rates of real GDP, an increasing government share in GDP and the "cost explosion" in health care can readily be explained - yet they cannot be finally resolved. Swiss economic data are used to verify that the economic developments Baumol's model predicts are indeed underway. Some policy as well as politico-economic conclusions are drawn from these insights.
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References listed on IDEAS
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- Oulton, Nicholas, 2001.
"Must the Growth Rate Decline? Baumol's Unbalanced Growth Revisited,"
Oxford Economic Papers,
Oxford University Press, vol. 53(4), pages 605-627, October.
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- Jochen Hartwig, 2005. "Messprobleme bei der Ermittlung des Wachstums der Arbeitsproduktivität - dargestellt anhand eines Vergleichs der Schweiz mit den USA," KOF Working papers 05-100, KOF Swiss Economic Institute, ETH Zurich.
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- Jochen Hartwig & Bernd Schips, 2004. "Verzerrungen von Konsumentenpreisindizes und ihr Einfluss auf das "reale" Wirtschaftswachstum - dargestellt am Beispiel der USA," KOF Working papers 04-94, KOF Swiss Economic Institute, ETH Zurich.
- Yngve Abrahamsen & Roland Aeppli & Erdal Atukeren & Michael Graff & Christian Müller & Bernd Schips, 2005. "The Swiss Disease: Facts and Artefacts, A Reply to Kehoe and Prescott," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(3), pages 749-758, July.
- Mark Setterfield, 2003. "Supply and Demand in the Theory of Long-run Growth: Introduction to a symposium on demand-led growth," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 23-32.
- Jack E. Triplett & Barry P. Bosworth, 2003. "Productivity measurement issues in services industries: "Baumol's disease" has been cured," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 23-33.
- Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281-281.
- Anita Wölfl, 2003. "Productivity Growth in Service Industries: An Assessment of Recent Patterns and the Role of Measurement," OECD Science, Technology and Industry Working Papers 2003/7, OECD Publishing.
- Joseph P. Newhouse, 2001. "Medical Care Price Indices: Problems and Opportunities / The Chung-Hua Lectures," NBER Working Papers 8168, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)