This paper is a comprehensive comparison of existing methods for constructing confidence bands for univariate impulse response functions in the presence of high persistence. Monte Carlo results show that Kilian (1998a), Wright (2000), Gospodinov (2004) and Pesavento and Rossi (2005) have...

This study investigates whether models of forward-looking behavior explain the observed patterns of heavy drinking and smoking of men in late middle age in the Health and Retirement Study better than myopic models. We develop and estimate a sequence of nested models which differ by their degree...

We develop an empirically highly accurate discrete-time daily stochastic volatility model that explicitly distinguishes between the jump and continuous time components of price movements using nonparametric realized variation and Bipower variation measures constructed from high-frequency...

Assessing the consequences of population on the pace and process of economic growth is one of the oldest themes in the literature on economics. These assessments have varied enormously over time, spanning the highly pessimistic to the outright optimistic. A systematic review of the major studies...

There appeared to be a dramatic shift of thinking from an alarmist and pessimistic assessment of the consequences of population growth prevalent before 1985, to a more balanced and eclectic assessment thereafter. It is argued that this shift, sometimes denoted as "revisionist thinking," is due...

The results of recent correlations showing a negative impact of population growth on economic development in cross-country data for the 1980s, versus "non-significant" correlations widely found for the 1960s and 1970s, are examined using contemporaneous and lagged components of demographic...

There appeared to be a dramatic shift of thinking from an alarmist and pessimistic assessment of the consequences of population growth prevalent before 1985, to a more balanced and eclectic assessment thereafter. It is argued that this shift, sometimes denoted as "revisionist thinking," is due...

It appears that the widely-observed finding in the literature showing little or no relationship between population growth (and dependency) and saving requires modification based on panel and cross-section estimation of aggregate country data. First, while it is consistent with an update of the...

A review of the large empirical literature using household-level data on the impacts of family size on educational outcomes (enrollment, attendance, completion) reveals mixed results. Many studies fail to uncover statistically significant links; those that do usually reveal small impacts. More...

Building upon recent Barro models that account for the impacts of various economic and political factors conditioning the pace of economic growth, we evaluate the merits of alternative specifications that expose the impacts of demographic change. For a sample of 89 countries, we arrive at the...