In this paper we study the link between elections, fiscal policy and aggregate fluctuations. The set-up is a stylized dynamic stochastic general equilibrium model incorporating both technology and political re-election shocks. The later are incorporated via a two-party model with elections. The...

Researchers and policy makers face significant challenges in selecting a method to conduct remote surveys, especially when collecting sensitive information or during turbulent life stages of hard-to-reach groups. In the context of the COVID-19 lockdown, we randomly selected about 600 adults in...

Based on the Ramsey equation and an ethically motivated rejection of pure utility time discount, the Stern Review on the Economics of Climate Change concentrates on the use of the elasticity of marginal utility η in the intergenerational social welfare function. We support this position by...

By using their financial reserves efficiently, pension funds can smooth shocks on asset returns, and can thus facilitate intergenerational risk-sharing. In addition to the primary benefit of improved time diversification, this form of risk allocation affords the additional benefit of allowing...

We provide evidence that the robust association between cognitive skills and economic growth reflects a causal effect of cognitive skills and supports the economic benefits of effective school policy. We develop a new common metric that allows tracking student achievement across countries, over...

In this paper we present a new database that allows deep industry-level growth accounting from 1991-2003. The database allows for the first complete analysis of the German industry performance drivers based on the contributions of 12 asset types in 52 different industries. The industry sources...

The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...

Economic development in Latin America has trailed most other world regions over the past four decades despite its relatively high initial development and school attainment levels. This puzzle can be resolved by considering the actual learning as expressed in tests of cognitive skills, on which...

We study the dynamics of the quantity and quality of teachers in the framework of dynamic general equilibrium OLG model. The quantity and quality are jointly set by a government agency wishing to maximize the quality of basic education per student while being bound by teachers' collective...

We study the relation between the off-shoring of intermediates and services and productivity growth in the Italian manufacturing industries in 1995-2003. Our results indicate that the off-shoring of intermediates within the same industry ("narrow off-shoring") is beneficial for productivity...