a fall in their asset income by saving more out of their labor income, dollar-for-dollar. In the wake of the crisis, our …

The paper provides an alternative explanation for the "resource curse" based on the income effect resulting from high … resource sector revenues in the future. This income channel of the resource curse is stronger for countries with lower degrees …

Exporters of exhaustible resources have historically exhibited higher income volatility than other economies … exhaustible resource revenues in future income. The parameterized model fares well at capturing current account balances in both …

attributed a decline in its per capita income ranking since 1970 to "eurosclerosis" or sluggish growth caused by distortionary …

This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare …. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing … measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable …

income shocks. The findings also yield a number of important caveats and policy considerations, however, that have largely …

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses … cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade …