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Deng, Shanglyu - 2020

An incumbent employee competes against a new hire for bonus or promotion. The incumbent's ability is commonly known, while that of the new hire is private information. The incumbent is subject to a perceptional bias: His prior about the new hire's type differs from the true underlying...

Persistent link: https://www.econbiz.de/10012481769

Do Institutions Cause Growth?

Glaeser, Edward L. - 2004

We revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and human capital accumulation lead to institutional improvement. We find that most indicators of institutional quality used to establish the proposition that institutions cause...

Persistent link: https://www.econbiz.de/10012468125

Economic Growth in a Cross-Section of Cities

Glaeser, Edward L. - 1995

We examine the relationship between urban characteristics in 1960 and urban growth (income and population) between 1960 and 1990. Our major findings are that income and population growth move together and both types of growth are (1) positively related to initial schooling, (2) negatively...

Persistent link: https://www.econbiz.de/10012473880

Growth in Cities

Glaeser, Edward L. - 1991

Recent theories of economic growth, including Romer (1986), Porter (1989) and Jacobs (1969), have stressed the role of technological spillovers in generating growth. Because such knowledge spillovers are particularly effective in cities, where communication between people is more extensive, data...

Persistent link: https://www.econbiz.de/10012475213

Finance and the Preservation of Wealth

Gennaioli, Nicola - 2013

We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (2012) into a Solow-style neoclassical growth model with diminishing returns to capital. Savers rely on trusted intermediaries to manage their wealth (claims on capital stock), who can charge fees above costs...

Persistent link: https://www.econbiz.de/10012459544

Money Doctors

Gennaioli, Nicola - 2012

investment, and allows managers to charge higher fees to investors who trust them more. Money managers compete for investor funds … by setting their fees, but because of trust the fees do not fall to costs. In the model, 1) managers consistently … involve sharing of expected returns between managers and investors, with higher fees in riskier products, 3) managers pander …

Persistent link: https://www.econbiz.de/10012460486