Using a model with upfront sunk costs, heterogeneous firms, and endogenous exchange rates, this paper demonstrates theoretically that volatility in fundamental variables such as the nominal interest rate that drive exchange rate volatility can simultaneously impact the entry behavior of...

The demographic transition and economic growth in the Pacific Rim / Andrew Mason, Ronald Lee, and Sang-Hyop Lee ; comments: Jocelyn E. Finlay, Jong-Wha Lee -- Population aging and economic growth in Asia / David E. Bloom, David Canning, and Jocelyn E. Finlay ; comments: Roberto S. Mariano,...

"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...

Empirical tests in the 1990s found little evidence of poor countries catching up with rich - unconditional convergence - since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory, including AK models, poverty trap models, and the...