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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

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

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

On the Size Distribution of Macroeconomic Disasters

Barro, Robert J. - 2009

In the rare-disasters setting, a key determinant of the equity premium is the size distribution of macroeconomic disasters, gauged by proportionate declines in per capita consumption or GDP. The long-term national-accounts data for up to 36 countries provide a large sample of disaster events of...

Persistent link: https://www.econbiz.de/10012463402

Macroeconomic Crises since 1870

Barro, Robert J. - 2008

by at least 10%. The principal world economic crises ranked by importance are World War II, World War I and the Great … Depression, the early 1920s (possibly reflecting the influenza epidemic of 1918-20), and post-World War II events such as the …

Persistent link: https://www.econbiz.de/10012464679

Rare Disasters, Asset Prices, and Welfare Costs

Barro, Robert J. - 2007

A representative-consumer model with Epstein-Zin-Weil preferences and i.i.d. shocks, including rare disasters, accords with key asset-pricing observations. If the coefficient of relative risk aversion equals 3-4, the model accords with observed equity premia and risk-free real interest rates. If...

Persistent link: https://www.econbiz.de/10012464956

Religious Conversion in 40 Countries

Barro, Robert J. - 2007

Questions about current and prior religion adherence from the International Social Survey Program and the World Values …

Persistent link: https://www.econbiz.de/10012464957

Which Countries Have State Religions?

Barro, Robert J.; McCleary, Rachel M. - In: The quarterly journal of economics 120 (2008) 4, pp. 1331-1370

-Saharan Africa, possibly because of the intense competition for converts in this region among the major world religions. The …

Persistent link: https://www.econbiz.de/10012468255