Narrow search
Showing 1 - 10 of 109
Cover Image
Determinants of Long-Term Growth : A Bayesian Averaging of Classical Estimates (BACE) Approach
Doppelhofer, Gernot - 2000
This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included...
Persistent link: https://www.econbiz.de/10012471000
Cover Image
Short-Term Capital Flows
Rodrik, Dani - 1999
We provide a conceptual and empirical framework for evaluating the effects of short-term capital flows. A simple model of the joint determination of the maturity and cost of external borrowing highlights the role played by self-fulfilling crises. The model also specifies the circumstances under...
Persistent link: https://www.econbiz.de/10012471420
Cover Image
Social Security in Theory and Practice (I) : Facts and Political Theories
Mulligan, Casey B. - 1999
166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? We document some of the internationally and historically common features of Social Security programs including explicit and implicit taxes on labor supply,...
Persistent link: https://www.econbiz.de/10012471676
Cover Image
Constitutions, Politics and Economics : A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"
Acemoglu, Daron - 2005
In this essay I review the new book by Torsten Persson and Guido Tabellini, The Economic Effects of Constitutions, which investigates the policy and economic consequences of different forms of government and electoral rules. I also take advantage of this opportunity to discuss the advantages and...
Persistent link: https://www.econbiz.de/10012467450
Cover Image
The World Income Distribution
Acemoglu, Daron - 2001
trade leads to a stable world income distribution. This is because specialization and trade introduce de facto diminishing … perspective time-series behavior of the world economy is similar to that of existing endogenous growth models, with the world … country level, the cross-sectional behavior of the world economy is similar to that of existing exogenous growth models: cross …
Persistent link: https://www.econbiz.de/10012470646
Cover Image
Dating the Integration of World Equity Markets
Bekaert, Geert - 1998
Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very … markets are on average larger and more liquid than before; returns are more volatile and more highly correlated with the world …
Persistent link: https://www.econbiz.de/10012472089
Cover Image
The Implications of First-Order Risk Aversion for Asset Market Risk Premiums
Bekaert, Geert - 1994
Existing general equilibrium models based on traditional expected utility preferences have been unable to explain the excess return predictability observed in equity markets, bond markets, and foreign exchange markets. In this paper, we abandon the expected-utility hypothesis in favor of...
Persistent link: https://www.econbiz.de/10012474310
Cover Image
Consumption Risk and International Asset Returns : Some Empirical Evidence
Cumby, Robert E. - 1987
The paper examines if real stock returns in four countries are consistent with consumption-based models of international asset pricing. The paper finds that ex-ante real stock returns exhibit statistically significant fluctuations over time and that these fluctuations cannot be explained by...
Persistent link: https://www.econbiz.de/10012476685
Cover Image
Population and Civil War
Acemoglu, Daron - 2017
Medical and public health innovations in the 1940s quickly resulted in significant health improvements around the world …
Persistent link: https://www.econbiz.de/10012455359
Cover Image
The Economics of Human Development and Social Mobility
Heckman, James J. - 2014
This paper distills and extends recent research on the economics of human development and social mobility. It summarizes the evidence from diverse literatures on the importance of early life conditions in shaping multiple life skills and the evidence on critical and sensitive investment periods...
Persistent link: https://www.econbiz.de/10012458740