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Barro, Robert J. - 1990

We think of the expected real interest rate for ten OECD countries (our counterpart of the world economy) as determined … estimated the reduced form for CDP-weighted world averages of the expected short-term real interest rate and the investment … ratio over the period 1959-88. The estimates reveal significant effects in the predicted direction for world stock returns …

Persistent link: https://www.econbiz.de/10012475718

On the Welfare Costs of Consumption Uncertainty

Barro, Robert J. - 2006

Satisfactory calculations of the welfare cost of aggregate consumption uncertainty require a framework that replicates major features of asset prices and returns, such as the high equity premium and low risk-free rate. A Lucas-tree model with rare but large disasters is such a framework. In a...

Persistent link: https://www.econbiz.de/10012465898

Fiscal Influences on Inflation in OECD Countries, 2020-2022

Barro, Robert J.; Bianchi, Francesco - National Bureau of Economic Research - 2023

The fiscal theory of the price level (FTPL) has been active for 30 years, and the interest in this theory grew with the recent global surges in inflation and government spending. This study applies the FTPL to 37 OECD countries for 2020-2022. The theory's centerpiece is the government's...

Persistent link: https://www.econbiz.de/10014436969

Government Ownership of Banks

Porta, Rafael La - 2000

In this paper, we investigate a neglected aspect of financial systems of many countries around the world: government … around the world. Second, such ownership is particularly significant in countries with low levels of per capita income …

Persistent link: https://www.econbiz.de/10012471151

Investor Protection : Origins, Consequences, and Reform

Porta, Rafael La - 1999

Recent research has documented large differences between countries in ownership concentration in publicly traded firms, in the breadth and depth of capital markets, in dividend policies, and in the access of firms to external finance. We suggest that there is a common element to the explanations...

Persistent link: https://www.econbiz.de/10012471353

Investor Protection and Corporate Valuation

Porta, Rafael La - 1999

We present a model of the effects of legal protection of minority shareholders and of cash flow ownership by a controlling shareholder on the valuation of firms. We then test this model using a sample of 371 large firms from 27 wealthy economies. Consistent with the model, we find evidence of...

Persistent link: https://www.econbiz.de/10012471382

Measuring Property Rights Institutions

Djankov, Simeon - 2020

, and more broadly with the Demsetz's (1967) approach to property rights institutions. Indeed, we document world …

Persistent link: https://www.econbiz.de/10012481142

The Coronavirus and the Great Influenza Pandemic : Lessons from the “Spanish Flu” for the Coronavirus’s Potential Effects on Mortality and Economic Activity

Barro, Robert J. - 2020

.1 percent of world population, implying 150 million deaths when applied to current population. Regressions with annual …

Persistent link: https://www.econbiz.de/10012482047

Fire Sales in Finance and Macroeconomics

Shleifer, Andrei - 2010

Fire sales are forced sales of assets in which high-valuation bidders are sidelined, typically due to debt overhang problems afflicting many specialist bidders simultaneously. We overview theoretical and empirical research on asset fire sales, which shows how they can arise, how they can lead to...

Persistent link: https://www.econbiz.de/10012462014

A New Data Set of Educational Attainment in the World, 1950-2010

Barro, Robert J. - 2010

Our panel data set on educational attainment has been updated for 146 countries from 1950 to 2010. The data are disaggregated by sex and by 5-year age intervals. We have improved the accuracy of estimation by using information from consistent census data, disaggregated by age group, along with...

Persistent link: https://www.econbiz.de/10012462749