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A Contagious Malady? Open Economy Dimensions of Secular Stagnation

Eggertsson, Gauti B. - 2016

examine the effect of capital flows on the transmission of stagnation. In a world with a low natural rate of interest, greater …

Persistent link: https://www.econbiz.de/10012456376

Asiaphoria Meets Regression to the Mean

Pritchett, Lant - 2014

Consensus forecasts for the global economy over the medium and long term predict the world's economic gravity will …

Persistent link: https://www.econbiz.de/10012458092

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

Macroeconomic Adjustment and the History of Crises in Open Economies

Aizenman, Joshua - 2012

In contrast, we find that past crisis experience has a significant impact on savings. When facing considerable political risk, the past does seem to matter - countries with more people who were exposed, over their lifetime, to larger disasters will tend to save more. This association, however,...

Persistent link: https://www.econbiz.de/10012460133

The Real Exchange Rate, Mercantilism and the Learning by Doing Externality

Aizenman, Joshua - 2008

This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...

Persistent link: https://www.econbiz.de/10012464794

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

Equipment Investment and Economic Growth

De Long, J. Bradford - 1990

Using data from the United Nations Comparison Project and the Penn World Table, we find that machinery and equipment …

Persistent link: https://www.econbiz.de/10012475518

World Real Interest Rates

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

Consumption Growth Parallels Income Growth : Some New Evidence

Carroll, Chris - 1989

This paper argues that the versions of both permanent income and life-cycle theories which have recently become fashionable are inconsistent with the grossest features of cross-country and cross-section data on consumption and income. There is clear evidence that consumption and income growth...

Persistent link: https://www.econbiz.de/10012475955

Good-Bye Original Sin, Hello Risk On-Off, Financial Fragility, and Crises?

Aizenman, Joshua - 2020

We analyze the sovereign bond issuance data of eight major emerging markets (EMs) - Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey from 1970 to 2018. Our analysis suggests that (i) EM local currency bonds tend to be smaller in size, shorter in maturity, or lower in...

Persistent link: https://www.econbiz.de/10012481987