An International Conference

Reykjavík, Iceland, 11-12 June 2004


June 11, 2004

8:30-9:00 Registration

Opening: Tryggvi Thor HERBERTSSON, University of Iceland

9:00-11:00 Plenum Session 1

Chair: Gylfi MAGNSSON, University of Iceland

Edmund S. PHELPS, Columbia University
The Continent's High Unemployment: Possible Institutional Causes and Some Evidence

James MARKUSEN, University of Colorado
Learning on the Cheap and Quick: Gains from trade through imported expertise

11:00-13:00 Invited Session 1: Unemployment and Growth

Chair: G. ZOEGA

Gylfi ZOEGA, University of Iceland and Birkbeck College
Global Shocks and Unemployment Adjustment

Michele BELOT, Netherlands Bureau for Economic Policy Analysis
Optimal Employment Protection

Hian Teck HOON, Singapore Management University
A Structuralist Model of the Small Open Economy in the Short, Medium and Long Run

13:00-14:00 Lunchbreak

14:00-16:00 Parallel Sessions 1-4

16:00-17:00 Invited Session 2: General Equilibrium Dynamics

Chair: B.S. JENSEN

Bjarne S. JENSEN, Copenhagen Business School
Pareto Efficiency, Relative Prices, and Solutions to CGE Models

John WHALLEY, University of Western Ontario
Calibration, Reverse Engineering, and Calibmetrics

June 12

9:00-11:00 Plenum Session 2

Chair: Mr GUMUNDSSON, Central Bank of Iceland

Jonathan EATON, New York University
Innovation, trade, and growth

Elias DINOPOULOS, University of Florida
Globalization, Factor Endowments and Scale-Invariant Growth

Henry WAN, Cornell University
East Asian Growth in View of West European Experience

11:00-13:00 Invited Session 3: Natural Resources, Trade, and Growth


Thorvaldur GYLFASON, University of Iceland
Natural Resources and Economic Growth: The Role of Investment

Ragnar TORVIK, Trondheim University
Institutions and the Resource Curse

Ola OLSSON, Gothenburg University
Conflict Diamonds

13:00-14:00 Lunchbreak

14:00-16:00 Parallel Sessions 5-8


Bjarne S. JENSEN, Copenhagen Business School

Parallel Sessions 1-4

Session 1. Endogenous Innovations and Productivity Growth

Chair: P.A. DE HEK

  1. Dirk BETHMANN, Humbold University
    Transitional Dynamics in the Uzawa-Lucas Model of Endogenous Growth
  2. Tapio PALOKANGAS, University of Helsinki
    Integration, Wage Bargaining, and Growth with Creative Destruction
  3. Toshiya ISHIKAWA, Kyushu Kyoritsu University
    Technology Diffusion and Business Cycle Asymmetry
  4. Paul A. DE HEK, Erasmus University
    On Growth and Fluctuations: The Option to Adobt New Technology

Session 2. Frictions and Rigidities


  1. Holger STRULIK, Hamburg University
    Social Composition and Economic Development
  2. Jeremy ASCHER, Duke University
    Limited Liability, Growth and Welfare in a Small pen Economy
  3. Wolf-Heimo GRIEBEN, University of Dortmund
    Globalization, Labour Market Rigidities and Multiple Equilibria
  4. David MAYER-FOULKES, CIDE, Mexico
    The Effects of Financial Development on Convergence: Theory and Evidence

Session 3. Geography, Integration, and Growth

Chair: H. EGGER

  1. Thomas GRIES, University of Paderborn and Tobias HEINRICH, University of Munster
    Regional Growth and Development without Scale Effects
  2. Kurt HAFNER, University of Bamberg: Economic Development and Agglomeration
    Research Activity and Tax Competition in a Static Equilibrium Model
  3. Bas STRAATHOF, Maastricht University
    The Welfare Effects of Economic Integration when Products are Patented
  4. Hartmut EGGER, University of Zurich
    Outsourcing and Trade in a Spatial World

Session 4. Human Capital and Growth

Chair: M. SIMES

  1. Oscar AFONSO and Alvaro AGUIAR, University of Porto
    Human Capital Accumulation and Wage Inequality with Scale-independent North-South Technological Diffusion
  2. Roberto ANTONIETTI and Adriaan VAN ZON, University of Maastricht
    On the Role of Education and Training as Drivers of Growth
  3. Volker GROSSMANN, University of Zurich
    Risky Human Capital Investment, Income Distribution, and Macroeconomic Dynamics
  4. Marta SIMES, Coimbra University
    The Education-growth Nexus Across OECD Countries: Schooling Levels and Parameter Heterogeneity

Parallel Sessions 5-8

Session 5. Income Distribution, Public Expenditures, and Growth

Chair: L.S. DAVIS

  1. Rainer KLUMP, University of Frankfurt
    Income Distribution, Factor Substitution and Factor Augmenting Technical Progress in the US: A Normalized Supply-Side System Approach
  2. Marianne SAAM, J.W.Goethe University
    Distributional Effects of Growth and the Elasticity of Substitution
  3. Lewis S. DAVIS, Smith College
    Explaining the Evidence on Inequality and Growth: Informality and Redistribution

Session 6. Natural Resources and Corruption


  1. I. Hakan YETKINER and Beatriz GAITAN, University of Hamburg
    The Hotelling’s Rule Revisited in a Dynamic General equilibrium Model
  2. Lvk ELASSON, Central Bank of Iceland
    Resource Policy in an Endogenously Growing Economy
  3. Elissios PAPYRAKIS, Vrije University
    Natural Resources, Investment, and Long-term Income

Session 7. Empirical Studies of Growth


  1. Kadri URKRAINSKI, University of Tartu
    Hidden Unemployment and Macroeconomic Shocks in Estonia 1997-2000: Empirical Evidence from Russian Financial Crises
  2. Christopher A. LAINCZ, Drexel University
    Scale Effects: An Error of Aggregation Not Specification – Empirical Evidence
  3. Charolina CASTALDI, Sant’Anna School of Advanced Studies
    Income Levels and Growth: Some New Cross-Country Evidence and some Interpretative Puzzles

Session 8. The Effects of Religion and Fertility

Chair: A. SCHFER

  1. Ulla LEHMIJOKI, University of Helsinki
    On the Beach: Optimal Population and Optimal Pollution
  2. Esa MANGELOJA, University of Jyvskyl
    Economic Growth and Religious Production Efficiency
  3. Andreas SCHFER, University of Rostock
    The Political Economy and the Interaction Between Fertility and Inequality

Sponsors   The Central Bank of Iceland
Research Contribution of the Icelandic Banks
Department of Economics, University of Iceland
Rector of Copenhagen Business School
Rector of the University of Iceland