Applied work often studies the effect of a binary variable (“treatment”) using linear models with additive effects. I … study the interpretation of the OLS estimands in such models when treatment effects are heterogeneous. I show that the …

as growth models have been different. The major objective of this paper is to compare the policies, institutions … terms of trends and patterns of growth and development, economic models, sources and drivers of growth; achievements …

qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed …Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or …-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features …

This paper introduces the probabilistic formulation of continuous-time economic models: forward stochastic differential … dynamics of heterogeneous-agent models with aggregate shocks, in which agents consider the distribution of individual states as …

models of endogenous growth. We argue that the assessment of the appropriateness of an equation of motion should not only be …