Showing 1 - 10 of 55
We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...
Persistent link: https://www.econbiz.de/10014576596
argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very … China's growth path and the growth paths of other East Asia economies at a similar stage of development. The growth paths of … other East Asia economies and the model predictions suggest that China's growth will substantially slow, so much so that we …
Persistent link: https://www.econbiz.de/10014322739
. Growth accounting exercises show that total factor productivity, FDI conversion efficacy, and foreign technology spillover … drive Asian Tigers' growth miracle, whereas a reduced adoption barrier and a favorable relative price of FDI are more … crucial for the growth of less-developed Asian economies. The counterfactual analysis confirms that technology-embodied FDI …
Persistent link: https://www.econbiz.de/10014250176
Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among … many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been … lackluster, like Japan, have done surprisingly well in terms of GDP growth per working-age adult. Indeed, from 1998 to 2019 …
Persistent link: https://www.econbiz.de/10014437045
growth so far are strongly associated with access to remote work options …
Persistent link: https://www.econbiz.de/10014437047
We document systematic differences in wage and earnings inequality between and within occupations and show that these differences are intimately related to systematic differences in labor supply across occupations. We then develop a variant of a Roy model in which earnings are a non-linear...
Persistent link: https://www.econbiz.de/10014372422
In the aftermath of the 1997-98 Asian crises, many emerging markets self-insured by accumulating international reserves (i.e., non-contingent assets) in excess of what many models predicted, while relying relatively little on state-contingent assets. This apparent over-reliance on self-insurance...
Persistent link: https://www.econbiz.de/10015195012
Labor market outcomes for young college graduates have deteriorated substantially in the last twenty five years, and more of them are residing with their parents. The unemployment rate at 23-27 year old for the 1996 college graduation cohort was 9%, whereas it rose to 12% for the 2013 graduation...
Persistent link: https://www.econbiz.de/10013362051
What are the long-run effects of permanent changes to the economy? We characterize long-run comparative statics for a broad class of models in terms of expenditure shares, substitution elasticities, and capital supply elasticities. Our key insight is that long-run analysis can be performed using...
Persistent link: https://www.econbiz.de/10015326497
We leverage recent advances in NLP to construct measures of workers' task exposure to AI and machine learning technologies over the 2010 to 2023 period that vary across firms and time. Using a theoretical framework that allows for a labor-saving technology to affect worker productivity both...
Persistent link: https://www.econbiz.de/10015326502