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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

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

The Globalization of Information and Capital Mobility

Branson, William H. - 1990

This paper provides a framework for analyzing the effects of symmetric and asymmetric changes in information about risk on equilibrium real interest rate spreads across countries. Following the literature on parameter uncertainty, improvements in information are modeled as reductions in...

Persistent link: https://www.econbiz.de/10012475531

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

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

Inequality Within Countries is Falling : Underreporting-Robust Estimates of World Poverty, Inequality and the Global Distribution of Income

Pinkovskiy, Maxim; Sala-i-Martin, Xavier; … - National Bureau of Economic Research - 2024

constant correction to survey-derived inequality estimates. Underreporting of income by the bottom 50% of the world income …

Persistent link: https://www.econbiz.de/10014512057

Policies to Foster Human Capital

Heckman, James J. - 1999

This paper considers the sources of skill formation in a modern economy and emphasizes the importance of both cognitive and noncognitive skills in producing economic and social success and the importance of both formal academic institutions and families and firms as sources of learning. Skill...

Persistent link: https://www.econbiz.de/10012471495

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

Currency Baskets and Real Effective Exchange Rates

Branson, William H. - 1981

With the major currencies continuously moving (if not floating freely) against each other, a country that does not choose to float must decide what to peg to. If it pegs to the SDR it floats against all currencies. Thus in the system begun in the early 1970s the very concept of a fixed exchange...

Persistent link: https://www.econbiz.de/10012478455

Global Capital Flows Cycle : Impact on Gross and Net Flows

Davis, J. Scott - 2019

While prior to the global financial crisis the empirical international capital flow literature has focused on net capital flows (the current account), since the crisis there has been an increased focus on gross flows. In this paper we jointly analyze global drivers of gross flows (outflows plus...

Persistent link: https://www.econbiz.de/10012479672