Showing 1 - 10 of 15
This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mecanism, by which more successful firms are replicated at a higher rate. The structure of the model allows to characterize analytically the aggregate dynamics, and to compute the effect on...
Persistent link: https://www.econbiz.de/10011093687
I study how savers allocate funds between boundedly rational firms which follow simple pricing rules. Firms need cash to pay their inputs in advance, and savers-shareholders allocate cash between them so as to maximize their rate of return. When the rate of return on each firm is observed, there...
Persistent link: https://www.econbiz.de/10005666616
1950s. Finally, we turn to the determinants of a broad array of development indicators for the year 1960 and for the 1960 …
Persistent link: https://www.econbiz.de/10009321839
We construct a simple model where political elites may block technological and institutional development, because of a … replaced. Fearing replacement, political elites are unwilling to initiate change, and may even block economic development. We … show that elites are unlikely to block development when there is a high degree of political competition, or when they are …
Persistent link: https://www.econbiz.de/10005124137
-term contracts sacrificing managerial selection may be optimal at early stages of economic development and when access to information …
Persistent link: https://www.econbiz.de/10009144738
We investigate the impact of slavery on the current performances of the US economy. Over a cross section of counties, we find that the legacy of slavery does not affect current income per capita, but does affect current income inequality. In other words, those counties that displayed a higher...
Persistent link: https://www.econbiz.de/10008680759
-specific pre-colonial institutions in shaping comparative regional development in Africa. We utilize information on the spatial … we document a positive cross-sectional association between national institutions and regional economic development … regional development. The positive within country effect of pre-colonial institutions also obtains in regions of partitioned …
Persistent link: https://www.econbiz.de/10008683528
We investigate the role of national institutions on regional development in a novel framework. We exploit the fact that … correlation between formal national institutions and economic development has to be carefully interpreted. …
Persistent link: https://www.econbiz.de/10011084103
We examine the link between pre-colonial statehood and contemporary regional African development, as reflected in …-country analysis reveals a strong positive correlation between pre-colonial political centralization and contemporary development (and …
Persistent link: https://www.econbiz.de/10011084301
shaping African development. First, using recent surveys from Sub-Saharan African countries, we document that individuals … a strong association between pre-colonial centralization and contemporary comparative development both across and within … countries. We also document that the strong link between pre-colonial political centralization and regional development -as …
Persistent link: https://www.econbiz.de/10011084579