This paper investigates the \education-total factor productivity trade-o " in explaining per worker income dierences between Sub-Saharan (unlucky) and G7 (lucky) economies. Following Hall and Jones (1999) and Caselli (2005), on a country basis, I am able to study separately the dynamic of the...

I study predictability and financial integration for the excess returns on ten emerging and U.S. industrial stock markets. Firstly, I examine one-factor and multi-factor linear models in a static context. I focus on the explanatory power of some common, macro, and artificial global risk factors....

The analysis of the Equity Risk Premium (ERP) and the research efforts aimed at solving the Equity Premium Puzzle (Mehra and Prescott 1985), are still widely discussed in the economic and financial literature. The purpose of this paper is to show that differences in the ERP between developed and...