Journal of Economic Dynamics and Control

This paper develops a multi-country AK model of endogenous growth with international knowledge transmission to study the impact of productive public expenditure on growth and convergence. A leader advances the global technology frontier, and followers benefit from spillovers only once their knowledge reaches a threshold. Productive public expenditure helps followers reach this threshold; once att…

We examine the dynamic relationship between the real exchange rate (RER) and external balances using both econometric and artificial neural network (NN) approaches. Our framework synthesizes a vector error correction model (VECM) and an NN model derived from it. Unlike traditional models such as vector autoregression (VAR), our models systematically incorporate economic relationships pertinent to…

We examine innovation in an n -player market-entry timing game with complete information and observable actions. In our novel multi-player setup, we allow for heterogeneous payoffs between players and leader payoff functions to be multi-peaked and non-monotonic, only requiring that followers’ payoffs are non-increasing with the time of the leader’s entry. We outline the conditions under which an …

Are standard production network properties similar across all available datasets, and if not, why? We provide benchmark results from two administrative datasets (Ecuador and Hungary), which are exceptional in that they have no reporting threshold. We compare these networks with a leading commercial dataset (FactSet) and published results on national firm-level production networks. Administrative …