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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

Gravity, Productivity and the Pattern of Production and Trade

Anderson, James E. - 2009

frictions in production and distribution of a many country world. The starting point is the international incidence of … reduce sectoral skill premia. Bigger sellers' incidence by country (sector) reduces equilibrium shares of world (national …

Persistent link: https://www.econbiz.de/10012464007

Anticipations of Foreign Exchange Volatility and Bid-Ask Spreads

Wei, Shang-Jin - 1994

The paper studies the effect of the market's perceived exchange rate volatility on bid-ask spreads. The anticipated volatility is extracted from currency options data. An increase in the perceived volatility is found to widen bid-ask spreads. The direction of the effect is consistent with an...

Persistent link: https://www.econbiz.de/10012474188

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

A Darwinian Perspective on "Exchange Rate Undervaluation"

Du, Qingyuan - 2011

theory, a rise in the sex ratio (increasing relative surplus of men) can generate a decline in the real exchange rate (RER …

Persistent link: https://www.econbiz.de/10012461869

Trade Costs

Anderson, James E. - 2004

goods within countries, much of which makes economic sense. Theory looms large in our survey, providing interpretation and … and interpret gravity theory properly and to handle aggregation appropriately …

Persistent link: https://www.econbiz.de/10012468213

Social Security and Democracy

Mulligan, Casey B. - 2002

Many political economic theories use and emphasize the process of voting in their explanation of the growth of Social Security, government spending, and other public policies. But is there an empirical connection between democracy and Social Security program size or design? Using some new...

Persistent link: https://www.econbiz.de/10012469756

The World Distribution of Income (estimated from Individual Country Distributions)

Sala-i-Martin, Xavier - 2002

We estimate the world distribution of income by integrating individual income distributions for 125 countries between … hosted 11% of the world's poor in 1960. It hosted 66% of them in 1998. We estimate nine indexes of income inequality implied … by our world distribution of income. All of them show substantial reductions in global income inequality during the 1980s …

Persistent link: https://www.econbiz.de/10012469781

Limiting Currency Volatility to Stimulate Goods Market Integration : A Price Based Approach

Parsley, David C. - 2001

of a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities from around the world …

Persistent link: https://www.econbiz.de/10012470250

Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises

Wei, Shang-Jin - 2001

Crony capitalism and self-fulfilling expectations by international creditors are often suggested as two rival explanations for currency crisis. This paper examines a possible linkage between the two that has not been explored much in the literature: corruption may affect a country's composition...

Persistent link: https://www.econbiz.de/10012470539