Showing 1 - 10 of 147
We investigate the effects of interregional labor market integration in a two-sector, overlapping-generations model with land-intensive production in the non-tradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that...
Persistent link: https://www.econbiz.de/10010292496
Many scholars have argued that once "basic needs" have been met, higher income is no longer associated with higher in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple...
Persistent link: https://www.econbiz.de/10010293982
In poor countries, labor productivity in agriculture is considerably lower than in the rest of the economy. We assess whether this well known fact implies that labor is mis-allocated between the two sectors. We make several observations that suggest otherwise. First, the same fact holds for US...
Persistent link: https://www.econbiz.de/10011388160
We study the short-run effect of elections on monetary aggregates in a sample of 85 low and middle income democracies (1975-2009). We find an increase in the growth rate of M1 during election months of about one tenth of a standard deviation. A similar effect can neither be detected in...
Persistent link: https://www.econbiz.de/10011388179
This paper challenges established claims of comparable degrees of market integration in Europe and China on the eve of industrialization. Our empirical strategy focuses on the dynamics of price convergence and accounts for general equilibrium effects arising from common shocks and network...
Persistent link: https://www.econbiz.de/10011388256
Migration contributes to the circulation of goods, knowledge, and ideas. Using community and individual-level data from Moldova, we show that the emigration episode that started in the late 1990s strongly affected political preferences and electoral outcomes in Moldova during the following...
Persistent link: https://www.econbiz.de/10010323034
The distribution of health inequalities appears to exhibit a different pattern when samples of developing countries are examined. One explanation is the existence of a health Kuznets' curve. This paper sets out as an exploratory analysis to test the latter hypothesis of an inverse U shape...
Persistent link: https://www.econbiz.de/10010328727
Uzawa's steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The...
Persistent link: https://www.econbiz.de/10010328830
We present new data documenting medieval Europe's Commercial Revolution using information on the establishment of markets in Germany. We use these data to test whether medieval universities played a causal role in expanding economic activity, examining the foundation of Germany's first...
Persistent link: https://www.econbiz.de/10010328836
Although firms may face radically different production conditions, this dimension of firm heterogeneity is often overlooked. We model input demand across local factor markets, explicitly considering search costs which explain why firms care about both the price and availability of inputs. The...
Persistent link: https://www.econbiz.de/10010328857