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Land Rental Markets : Experimental Evidence from Kenya
Acampora, Michelle; Casaburi, Lorenzo; Willis, Jack - National Bureau of Economic Research - 2022
Land market incompleteness is argued to have pervasive effects in Sub-Saharan Africa, including on agricultural efficiency, equity, and structural transformation. Yet experimental evidence on land market participation is virtually non-existent. We randomly allocate subsidies for agricultural...
Persistent link: https://www.econbiz.de/10013388851
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Industrial Productivity in a Hotter World : The Aggregate Implications of Heterogeneous Firm Investment in Air Conditioning
Zivin, Joshua Graff - 2016
. Air conditioning (AC) can greatly reduce this heat exposure. We develop a simple model of air conditioning adoption by … industry-level output, we present aggregation results highlighting how the industry's output is insulated from the heat. Our … empirical analysis of the impacts of heat on total factor productivity in U.S manufacturing yields findings broadly consistent …
Persistent link: https://www.econbiz.de/10012455718
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Coal, Smoke, and Death : Bituminous Coal and American Home Heating
Barreca, Alan - 2014
due to the burning of bituminous coal for heat. We estimate the effects of this bituminous coal consumption on mortality …
Persistent link: https://www.econbiz.de/10012458782
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Estimating the Impact of Restructuring on Electricity Generation Efficiency : The Case of the Indian Thermal Power Sector
Malik, Kabir - 2011
We examine the impact of electricity sector restructuring on the operating efficiency of coal-fired power plants in India. Between 1995 and 2009, 85 percent of coal-based generation capacity owned by state governments was unbundled from vertically integrated State Electricity Boards into state...
Persistent link: https://www.econbiz.de/10012461275
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Solving Heterogeneous Agent Models with the Master Equation
Bilal, Adrien - National Bureau of Economic Research - 2023
This paper proposes an analytic representation of perturbations in heterogeneous agent economies with aggregate shocks. Treating the underlying distribution as an explicit state variable, a single value function defined on an infinite-dimensional state space provides a fully recursive...
Persistent link: https://www.econbiz.de/10014250121
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Neoclassical Growth with Long-Term One-Sided Commitment Contracts
Krueger, Dirk; Uhlig, Harald - National Bureau of Economic Research - 2022
This paper characterizes the stationary equilibrium of a continuous-time neoclassical production economy with capital accumulation in which households can insure against idiosyncratic income risk through long-term insurance contracts. Insurance companies operating in perfectly competitive...
Persistent link: https://www.econbiz.de/10013388874
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Dollarization Dynamics
Caravello, Tomás E.; Martinez-Bruera, Pedro; Werning, Iván - National Bureau of Economic Research - 2023
This study explores the consequences of dollarizing an economy with an initial dollar shortage. We show that the resulting transitional dynamics are tantamount to that of a "sudden stop": consumption of tradable goods fall, the real exchange rate depreciates abruptly by a discrete drop in...
Persistent link: https://www.econbiz.de/10014322684
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Accounting for the Duality of the Italian Economy
Fernández-Villaverde, Jesús; Laudati, Dario; Ohanian, … - National Bureau of Economic Research - 2023
After 162 years of political unification, Italy still displays large regional economic differences. In 2019, the per capita GDP of Lombardia was 39,700 euros, but Calabria's per capita GDP was only 17,300 euros. We build a two-region, two-sector model of the Italian economy to measure the wedges...
Persistent link: https://www.econbiz.de/10014322687
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The Neoclassical Growth of China
Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - National Bureau of Economic Research - 2023
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...
Persistent link: https://www.econbiz.de/10014322739
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The Slanted-L Phillips Curve
Benigno, Pierpaolo; Eggertsson, Gauti B. - National Bureau of Economic Research - 2024
A slanted-L curve is well-suited to represent the non-linearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces...
Persistent link: https://www.econbiz.de/10014486263