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Instruments of development : Randomization in the tropics, and the search for the elusive keys to economic development
Deaton, Angus S. - 2009
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …
Persistent link: https://www.econbiz.de/10012463957
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Participation and Duration of Environmental Agreements
Battaglini, Marco - 2012
We analyze participation in international environmental agreements (IEAs) in a dynamic game where countries pollute and … participation is feasible. Participation becomes attractive because only large coalitions commit to long-term agreements that … incomplete. Since real-world IEAs fit in the incomplete contracting environment, our theory may help explaining the rising …
Persistent link: https://www.econbiz.de/10012460076
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Project Appraisal and Foreign Exchange Constraints : A Simple Exposition
Blitzer, Charles R. - 1987
In an earlier paper, we showed that the value of shadow prices depends on how the government contemplates re- equilibrating the economy to the perturbation associated with any project, except in the extreme case where the government has chosen all policy instruments optimally. Only under...
Persistent link: https://www.econbiz.de/10012476904
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Optimal Policy Projections
Svensson, Lars O. - 2005
We outline a method to provide advice on optimal monetary policy while taking policymakers' judgment into account. The method constructs Optimal Policy Projections (OPPs) by extracting the judgment terms that allow a model, such as the Federal Reserve Board's FRB/US model, to reproduce a...
Persistent link: https://www.econbiz.de/10012467290
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A Note on Variance Decomposition with Local Projections
Gorodnichenko, Yuriy - 2017
We propose and study properties of several estimators of variance decomposition in the local-projections framework. We find for empirically relevant sample sizes that, after being bias corrected with bootstrap, our estimators perform well in simulations. We also illustrate the workings of our...
Persistent link: https://www.econbiz.de/10012453716
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Rare Disasters, Financial Development, and Sovereign Debt
Rebelo, Sergio - 2018
We propose a model of sovereign debt where countries vary in their level of financial development, defined as the extent to which countries can hedge rare disasters in international capital markets. We show that low levels of financial development generate the "debt intolerance" phenomenon that...
Persistent link: https://www.econbiz.de/10012480684
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Financial constraints and innovation : Why poor countries don't catch up
Gorodnichenko, Yuriy - 2010
This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...
Persistent link: https://www.econbiz.de/10012462858
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Intellectual Property Rights, Foreign Direct Investment, and Industrial Development
Branstetter, Lee - 2009
This paper develops a North-South product model in which Southern imitation and the North-South flow of foreign direct investment (FDI) are endogenously determined. In the model, a strengthening of IPR protection in the South reduces the rate of imitation, which, in turn, increases the flow of...
Persistent link: https://www.econbiz.de/10012463256
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State Capacity, Conflict and Development
Besley, Timothy J. - 2009
theoretical results are summarized in a number of propositions. We discuss the implications of the theory, comment on its relation …
Persistent link: https://www.econbiz.de/10012463562
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The Knowledge Trap : Human Capital and Development Reconsidered
Jones, Benjamin F. - 2008
This paper presents a model where human capital differences - rather than technology differences - can explain several central phenomena in the world economy. The results follow from the educational choices of workers, who decide not just how long to train, but also how broadly. A "knowledge...
Persistent link: https://www.econbiz.de/10012464508