thereby fosters economic growth. We apply a structural estimation approach to fully track the endogenous mechanisms of the …

. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

-peaceful world. But how much would individual be willing to pay to avoid just the economic costs of conflict? Remarkably, even these … current level of consumption to live in a purely peaceful world. Such large potential welfare gains from reducing warfare …

of the government's budget constraint, we find strong evidence to support these predictions under different estimation …

In many OECD countries income inequality has risen, but surprisingly redistribution as well. The theory attributes this …

In poor countries, labor productivity in agriculture is considerably lower than in the rest of the economy. We assess … between the marginal value products of agriculture and non-agriculture are considerably smaller when measured through wages … than through labor productivities. Third, labor productivity in agriculture is severely mis-measured in the US. …