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IQ in the Ramsey Model: A Naive Calibration

Jones, Garett - Society for Economic Dynamics - SED - 2006

I show that in a conventional Ramsey model, between one-fourth and one-half of the global income distribution can be explained by a single factor: The effect of large, persistent differences in national average IQ on the private marginal product of labor. Thus, differences in national average IQ...

Persistent link: https://www.econbiz.de/10005069328

Intelligence, Human Capital, and Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

Jones, Garett; Schneider, W. Joel - EconWPA - 2005

Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...

Persistent link: https://www.econbiz.de/10005407739

IQ in the Ramsey Model: A Naive Calibration

Jones, Garett - EconWPA - 2005

I show that in a conventional Ramsey model, between one-fourth and one- half of income differences across countries can be explained by a single factor: The steady-state effect of large, persistent differences in national average IQ on worker productivity. These differences in cognitive...

Persistent link: https://www.econbiz.de/10005118848

What Does the Walrasian Auctioneer Know? Technology Adoption and Financial Innovation

Fernandes, Ana - Society for Economic Dynamics - SED - 2004

technology. Perhaps the most obvious connection between technology and financial innovation emerges through risk …

Persistent link: https://www.econbiz.de/10004970355

Innovation and Financial Markets

Cabral, Luis; Fernandes, Ana - Society for Economic Dynamics - SED - 2006

In this paper, we study the dynamics of innovation financing as a new industry emerges. Specifically, in an environment … the relative shares of bank and venture capital financing out of total innovation funding in the sector. In our setup, the … financial institutions; it may stem from better screening ability, better monitoring ability, or greater knowledge of the human …

Persistent link: https://www.econbiz.de/10005051263