Rare disasters become increasingly important for understanding asset pricing, and the spirit of capitalism has been successful in explaining various issues in economic growth, savings behavior, and asset pricing. However, pervious studies don't reveal the connection of these two ideas. This...

Growth rates vary enormously across countries over long periods of time. The reason for these variations is a central issue for economic policy, and crosscountry empirical work on this topic has been popular since the early 1990s. The findings from cross-country panel regressions show that the...

Data for around 100 countries from 1960 to 1990 are used to assess the effects of inflation on economic performance. If a number of country characteristics are held constant, then regression results indicate that the impact effects from an increase in average inflation by 10 percentage points...