Publications

27 publications found, searching for 'Jesus Felipe '

• Working Paper No. 1046
  March 07, 2024

  The Aggregate Production Function and Solow’s “Three Denials”

  Jesus Felipe and John McCombie
  Abstract

  This paper offers a retrospective view of the key pillar of Solow’s neoclassical growth model, namely the aggregate production function. We review how this tool came to life and how…more

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• Working Paper No. 1039
  February 02, 2024

  Can the Philippines Attain 6.5-8 Percent Growth During 2023–28?

  Jesus Felipe and Manuel L. Albis
  Abstract

  We expand the standard balance-of-payments–constrained (BOPC) growth rate model in three directions. First, we take into account the separate contributions of exports in goods, exports in services, overseas remittances, and…more

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• Working Paper No. 1036
  January 05, 2024

  The Estimation of Production Functions with Monetary Values

  Jesus Felipe, John McCombie, and Aashish Mehta
  Abstract

  For decades, the literature on the estimation of production functions has focused on the elimination of endogeneity biases through different estimation procedures to obtain the correct factor elasticities and other…more

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• Working Paper No. 1030
  October 09, 2023

  Economic Transformation and Growth in the Philippines

  Jesus Felipe, Edgar Desher Empeño, and Brendan Miranda
  Abstract

  The main gateway for the Philippines to develop and become an upper-middle-income economy—and eventually, a high-income economy—is to expedite the shift of workers out of agriculture and to produce and…more

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• Working Paper No. 1029
  September 07, 2023

  Is Anything Left of the Debate about the Sources of Growth in East Asia Thirty Years Later?

  Jesus Felipe and John McCombie
  Abstract

  The year 2023 commemorates the 30th anniversary of the publication of the influential, yet controversial, study The East Asian Miracle report by the World Bank (1993). An important part of…more

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• Working Paper No. 1006
  April 29, 2022

  Why the Feldstein-Horioka “Puzzle” Remains Unsolved

  Jesus Felipe, Scott Fullwiler, and Al-Habbyel Yusoph
  Abstract

  This paper argues that the 40-year-old Feldstein-Horioka “puzzle” (i.e., that in a regression of the domestic investment rate on the domestic saving rate, the estimated coefficient is significantly larger than…more

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• Working Paper No. 994
  October 26, 2021

  Production Function Estimation

  Jesus Felipe, Donna Faye Bajaro, John McCombie, and Aashish Mehta
  Abstract

  The possible endogeneity of labor and capital in production functions, and the consequent bias of the estimated elasticities, has been discussed and addressed in the literature in different ways since…more

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• Working Paper No. 946
  February 03, 2020

  The Relationship between Technical Progress and Employment

  Jesus Felipe, Gemma Estrada, Donna Faye Bajaro, and John McCombie
  Abstract

  We show that Autor and Salomons’ (2017, 2018) analysis of the impact of technical progress on employment growth is problematic. When they use labor productivity growth as a proxy for…more

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• Working Paper No. 725
  May 17, 2012

  Problems with Regional Production Functions and Estimates of Agglomeration Economies

  Jesus Felipe and John McCombie
  Abstract

  Over the last 20 years or so, mainstream economists have become more interested in spatial economics and have introduced largely neoclassical economic concepts and tools to explain phenomena that were…more

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• Working Paper No. 718
  May 04, 2012

  Aggregate Production Functions and the Accounting Identity Critique

  Jesus Felipe and John McCombie
  Abstract

  In a reply to Felipe and McCombie (2010a), Temple (2010) has largely ignored the main arguments that underlie the accounting identity critique of the estimation of production functions using value…more

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• Working Paper No. 715
  April 30, 2012

  Tracking the Middle-income Trap

  Jesus Felipe, Utsav Kumar, and Arnelyn Abdon
  Abstract

  This paper provides a working definition of what the middle-income trap is. We start by defining four income groups of GDP per capita in 1990 PPP dollars: low-income below $2,000;…more

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• Working Paper No. 670
  May 18, 2011

  The Product Space

  Jesus Felipe and Arnelyn Abdon
  Abstract

  In this paper we look at the economic development of Sub-Saharan Africa (SSA) in the context of structural transformation. We use Hidalgo et al.’s (2007) concept of product space to show the…more

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• Working Paper No. 651
  February 14, 2011

  Unit Labor Costs in the Eurozone

  Jesus Felipe and Utsav Kumar
  Abstract

  Current discussions about the need to reduce unit labor costs (especially through a significant reduction in nominal wages) in some countries of the eurozone (in particular, Greece, Ireland, Italy, Portugal,…more

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• Working Paper No. 651
  February 14, 2011

  Το μοναδιαίο κόστος εργασίας στην ευρωζώνη

  Jesus Felipe and Utsav Kumar
  Abstract

  Οι τρέχουσες εισηγήσεις σχετικά με την ανάγκη να μειωθεί το μοναδιαίο κόστος εργασίας (κυρίως μέσω δραστικών μειώσεων των ονομαστικών μισθών) σε ορισμένες χώρες της ευρωζώνης (ειδικότερα στην Ελλάδα, την Ιρλανδία,…more

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• Working Paper No. 644
  December 13, 2010

  How Rich Countries Became Rich and Why Poor Countries Remain Poor

  Jesus Felipe, Utsav Kumar, and Arnelyn Abdon
  Abstract

  Becoming a rich country requires the ability to produce and export commodities that embody certain characteristics. We classify 779 exported commodities according to two dimensions: (1) sophistication (measured by the…more

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• Working Paper No. 643
  December 07, 2010

  Modeling Technological Progress and Investment in China

  Jesus Felipe and John McCombie
  Abstract

  Since the early 1990s, the number of papers estimating econometric models and using other quantitative techniques to try to understand different aspects of the Chinese economy has mushroomed. A common…more

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• Working Paper No. 638
  November 17, 2010

  Exports, Capabilities, and Industrial Policy in India

  Jesus Felipe, Utsav Kumar, and Arnelyn Abdon
  Abstract

  An extensive literature argues that India’s manufacturing sector has underperformed, and that the country has failed to industrialize; in particular, it has failed to take advantage of its labor-abundant comparative…more

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• Working Paper No. 631
  October 31, 2010

  Exploring the Philippine Economic Landscape and Structural Change Using the Input-Output Framework

  Jesus Felipe, Nedelyn Magtibay-Ramos, and Gemma Estrada
  Abstract

  This paper explores the degree of structural change of the Philippine economy using the input-output framework. It examines how linkages among economic sectors evolved over 1979–2000, and identifies which economic…more

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• Working Paper No. 629
  October 25, 2010

  The Impact of Geography and Natural Resource Abundance on Growth in Central Asia

  Jesus Felipe and Utsav Kumar
  Abstract

  This paper examines the growth experience of the Central Asian economies after the breakup of the Soviet Union. In particular, it evaluates the impact of being landlocked and resource rich….more

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• Working Paper No. 628
  October 21, 2010

  The Role of Trade Facilitation in Central Asia

  Jesus Felipe and Utsav Kumar
  Abstract

  With a decrease in formal trade barriers, trade facilitation has come into prominence as a policy tool for promoting trade. In this paper, we use a gravity model to examine…more

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• Working Paper No. 626
  October 11, 2010

  Technical Change in India’s Organized Manufacturing Sector

  Jesus Felipe and Utsav Kumar
  Abstract

  We use the real wage–profit rate schedule to examine the direction of technical change in India’s organized manufacturing sector during 1980–2007. We find that technical change was Marx biased (i.e.,…more

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• Working Paper No. 624
  September 30, 2010

  A Reassessment of the Use of Unit Labor Costs as a Tool for Competitiveness and Policy Analyses in India

  Jesus Felipe and Utsav Kumar
  Abstract

  We reinterpret unit labor costs (ULC) as the product of the labor share in value added, times a price adjustment factor. This allows us to discuss the functional distribution of…more

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• Working Paper No. 619
  September 19, 2010

  Asia and the Global Crisis

  Jesus Felipe
  Abstract

  The global crisis of 2007–09 affected developing Asia largely through a decline in exports to the developed countries and a slowdown in remittances. This happened very quickly, and by 2009…more

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• Working Paper No. 616
  September 09, 2010

  Product Complexity and Economic Development

  Jesus Felipe, Utsav Kumar, Arnelyn Abdon, and Marife Bacate
  Abstract

  We rank 5,107 products and 124 countries according to the Hidalgo and Hausmann (2009) measures of complexity. We find that: (1) the most complex products are in machinery, chemicals, and…more

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