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Do Oil Windfalls Improve Living Standards? Evidence from Brazil

Caselli, Francesco; Michaels, Guy - National Bureau of Economic Research (NBER) - 2009

We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...

Persistent link: https://www.econbiz.de/10008610984

Is Poland the Next Spain?

Caselli, Francesco; Tenreyro, Silvana - National Bureau of Economic Research (NBER) - 2005

We revisit Western Europe's record with labor-productivity convergence, and tentatively extrapolate its implications … capital accumulation and TFP growth reflect convergence along two margins. One margin (between industry) is a massive …. Coupled with the fact that within-industry productivity gaps are enormous, this suggests that convergence will take a long …

Persistent link: https://www.econbiz.de/10005084557

The Contribution of Schooling in Development Accounting: Results from a Nonparametric Upper Bound

Caselli, Francesco; Ciccone, Antonio - National Bureau of Economic Research (NBER) - 2011

How much would output increase if underdeveloped economies were to increase their levels of schooling? We contribute to the development accounting literature by describing a non-parametric upper bound on the increase in output that can be generated by more schooling. The advantage of our...

Persistent link: https://www.econbiz.de/10009652860

International Data on Educational Attainment Updates and Implications

Barro, Robert J.; Lee, Jong-Wha - National Bureau of Economic Research (NBER) - 2000

This paper presents a data set that improves the measurement of educational attainment for a broad group of countries. We extend our previous estimates of educational attainment for the population over age 15 and over age 25 up to 1995 and provide projections for 2000. We discuss the estimation...

Persistent link: https://www.econbiz.de/10005718505

The Marginal Product of Capital

Caselli, Francesco; Feyrer, James - National Bureau of Economic Research (NBER) - 2005

Whether or not the marginal product of capital (MPK) differs across countries is a question that keeps coming up in discussions of comparative economic development and patterns of capital flows. Attempts to provide an empirical answer to this question have so far been mostly indirect and based...

Persistent link: https://www.econbiz.de/10005050164

Economics and Politics of Alternative Institutional Reforms

Caselli, Francesco; Gennaioli, Nicola - National Bureau of Economic Research (NBER) - 2007

We compare the economic consequences and political feasibility of reforms aimed at reducing barriers to entry (deregulation) and improving contractual enforcement (legal reform). Deregulation fosters entry, thereby increasing the number of firms (entrepreneurship) and the average quality of...

Persistent link: https://www.econbiz.de/10005050260

A New Data Set of Educational Attainment in the World, 1950-2010

Barro, Robert J.; Lee, Jong-Wha - National Bureau of Economic Research (NBER) - 2010

Our panel data set on educational attainment has been updated for 146 countries from 1950 to 2010. The data are disaggregated by sex and by 5-year age intervals. We have improved the accuracy of estimation by using information from consistent census data, disaggregated by age group, along with...

Persistent link: https://www.econbiz.de/10008622348

Macroeconomic Effects from Government Purchases and Taxes

Barro, Robert J.; Redlick, Charles J. - National Bureau of Economic Research (NBER) - 2009

For U.S. annual data that include WWII, the estimated multiplier for temporary defense spending is 0.4-0.5 contemporaneously and 0.6-0.7 over two years. If the change in defense spending is "permanent" (gauged by Ramey's defense-news variable), the multipliers are higher by 0.1-0.2. The...

Persistent link: https://www.econbiz.de/10005084846

Optimal Debt Management

Barro, Robert J. - National Bureau of Economic Research (NBER) - 1995

Optimal debt management can be thought of in three stages. First, if taxes are lump sum and the other conditions for Ricardian equivalence hold, then the division of government financing between debt and taxes is irrelevant, and the whole level of public debt is indeterminate from an optimal-tax...

Persistent link: https://www.econbiz.de/10005710655