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Monetary and fiscal management, finance, and growth

Thorvaldur Gylfason - 2004

This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications of economic integration for monetary and fiscal policy, especially the narrow focus on low inflation as the main objective of monetary policy. I argue that...

Persistent link: https://www.econbiz.de/10001900219

Making judges independent : some proposals regarding the judiciary

Feld, Lars P.; Voigt, Stefan - 2004

It is argued that an independent judiciary is a necessary condition for both individual liberty and economic prosperity. After having surveyed the literature dealing with how to arrange for an independent judiciary, the authors derive some additional policy implications by drawing on two...

Persistent link: https://www.econbiz.de/10002258084

Dualism and cross-country growth regressions

Temple, Jonathan; Woessmann, Ludger - 2004

This paper examines whether growth regressions should incorporate dualism and structural change. If there is a differential across sectors in the marginal product of labour, changes in the structure of employment can raise aggregate total factor productivity. The paper develops empirical growth...

Persistent link: https://www.econbiz.de/10002388708

All about the giants : probing the influences on growth and income inequality at the end of the 20th century

Berry, R. Albert; Serieux, John - 2003

This paper presents estimates of world output growth from 1970 to 2000, the distribution of income among countries and … persons for the years 1980, 1990 and 2000, and world poverty rates for the same years. It also presents the results of a … series of simulation exercises that attempt isolate the effect of particular country and regional experiences on world output …

Persistent link: https://www.econbiz.de/10001728849

No need to run millions of regressions

Sturm, Jan-Egbert; Haan, Jakob de - 2000

The authors argue that in modelling cross-country growth models one should first identify so-called outlying observations. For the data set of Sali-i-Martin, they use the least median of squares (LMS) estimator to identify outliers. As LMS is not suited for inference, they then use reweighted...

Persistent link: https://www.econbiz.de/10001480420

The economic effects of democratic participation

Mueller, Dennis C.; Stratmann, Thomas - 2002

Considerable concern has been expressed in resent years about declines in voter participartion rates in the United States and in several other major democratic countries. Some feel low participation rates intropuce a "class bias" into the political process and thereby worsen the outcomes from...

Persistent link: https://www.econbiz.de/10001649183

Natural resources and economic growth : what is the connection?

Thorvaldur Gylfason - 2001

This paper reviews the relationship between natural resources and economic growth, and stresses how natural capital tends to crowd out foreign capital, social capital, human capital, and physical capital, thereby impeding economic growth across countries and presumably also over time....

Persistent link: https://www.econbiz.de/10001614305

Education, social equality and economic growth : a view of the landscape

Thorvaldur Gylfason; Gylfi Zoega - 2003

Education has been one of the key determinants of economic growth around the world since 1965. In this paper, we …

Persistent link: https://www.econbiz.de/10001740781

Self-serving dictators and economic growth

Haile, Daniel; Sadrieh, Abdolkarim; Verbon, Harrie - 2003

A new line of theoretical and empirical literature emphasizes the pivotal role of fair institutions for growth. We present a model, a laboratory experiment, and a simple cross-country regression supporting this view. We model an economy with an unequal distribution of property rights, in which...

Persistent link: https://www.econbiz.de/10001871545

Shadow economies around the world : what do we know?

Schneider, Friedrich; Klinglmair, Robert - 2004

Using various statistical procedures, estimates about the size of the shadow economy in 110 developing, transition and OECD countries are presented. The average size of the shadow economy (in percent of official GDP) over 1999-2000 in developing countries is 41 percent, in transition countries...

Persistent link: https://www.econbiz.de/10002039255