Showing 1 - 10 of 110
Does the transmission of economic policies and structural shocks vary with the state of the economy? We answer this question using a strategy based on quantile regressions, which account for both endogeneous regressors and state-dependent parameters. An application to U.S. real activity and...
Persistent link: https://www.econbiz.de/10011083570
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …
Persistent link: https://www.econbiz.de/10008487510
Since the 2008 global financial crisis, and after decades of relative neglect, the importance of the financial system and its episodic crises as drivers of macroeconomic outcomes has attracted fresh scrutiny from academics, policy makers, and practitioners. Theoretical advances are following a...
Persistent link: https://www.econbiz.de/10011213304
Persistent link: https://www.econbiz.de/10012212741
Persistent link: https://www.econbiz.de/10012502659
According to the Washington Consensus, developing countries' growth would benefit from reductions in barriers to trade. However, the empirical basis for judging trade reforms is weak. Econometrics are mostly ad hoc, results are typically not judged against models, policies are poorly measured,...
Persistent link: https://www.econbiz.de/10011010041
Although the empirical growth literature has yielded many findings on postwar convergence patterns, it has had little … to say about the determinants of convergence in earlier epochs. This paper investigates convergence for group of seven … countries during the period 1870-1914, the last great phase of global convergence before the present postwar era. A standard …
Persistent link: https://www.econbiz.de/10005710106
This paper is concerned with integration in the world capital market between the" economies of the core and periphery in the twentieth century. It proceeds with some general" observations and with a special focus on the case of Argentina. I will argue that understanding" the changing relations...
Persistent link: https://www.econbiz.de/10005714827
This paper examines the relationship between openness, trade, and migration in the Asia-Pacific region during the post-1970 period. Conventional reduced-form empirical-growth specifications are augmented by an appeal to structural modelling, an extension that reveals a rich set of interactions...
Persistent link: https://www.econbiz.de/10005829643
Standard neoclassical growth models rarely admits international factor mobility: convergence may result from factor … contribution of international factor flows to convergence in history. A general model with many goods, and multiple mobile and … historical analyses of the sources of long-run convergence and divergence. …
Persistent link: https://www.econbiz.de/10005830298