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Culture, institutions and the wealth of nations

Gorodnichenko, Yuriy; Roland, Gérard - 2010

We construct an endogenous growth model that includes a cultural variable along the dimension of individualism-collectivism …. Collectivism leads to efficiency gains relative to individualism, but these gains are static, unlike the dynamic effect of …. The model predicts that more individualism leads to more innovation because of the social rewards associated with …

Persistent link: https://www.econbiz.de/10009007836

Dishonesty as a collective-risk social dilemma

Jiang, Shuguang; Villeval, Marie-Claire - 2022

We study cheating as a collective-risk social dilemma in a group setting in which individuals are asked to report their actual outcomes. Misreporting their outcomes increases the individual's earnings but when the sum of claims in the group reaches a certain threshold, a risk of collective...

Persistent link: https://www.econbiz.de/10013471466

The recovery from the Great Recession: a long, evolving expansion

Shambaugh, Jay C.; Strain, Michael R. - 2021

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Persistent link: https://www.econbiz.de/10012405441

Technological advance, social fragmentation and welfare

Bosworth, Steven; Snower, Dennis J. - 2021

This paper models the welfare consequences of social fragmentation arising from technological advance. We start from the premise that technological progress falls primarily on market-traded commodities rather than prosocial relationships, since the latter intrinsically require the expenditure of...

Persistent link: https://www.econbiz.de/10012418627

Inequality indices as tests of fairness

Kanbur, Ravi; Snell, Andy - 2017

Standard income inequality indices can be interpreted as a measure of welfare loss entailed in departures from equality of outcomes, for egalitarian social welfare functions defined on the distribution of outcomes. But such a welfare interpretation has been criticized for a long time on the...

Persistent link: https://www.econbiz.de/10011641764

Education and growth with learning by doing

Marconi, Gabriele; Grip, Andries de - 2015

We develop a general equilibrium overlapping generations model which is based on the view that education makes workers more productive by increasing their ability to learn from work experience, rather than providing skills that directly increase productivity. One important implication of the...

Persistent link: https://www.econbiz.de/10010529431

Volatility and growth : governments are key

Jetter, Michael - 2013

There exists a persistent disagreement in the literature over the effect of business cycles on economic growth. This paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a negative indirect effect, operating through the insurance...

Persistent link: https://www.econbiz.de/10010228789

Knowledge spillovers, ICT and productivity growth

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cécilia - 2014

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Persistent link: https://www.econbiz.de/10010374120

Inequality of opportunity and economic growth : a cross-country analysis

Ferreira, Francisco H. G.; Lakner, Christoph; Ana Lugo, … - 2014

Income differences arise from many sources. While some kinds of inequality, caused by effort differences, might be associated with faster economic growth, other kinds, arising from unequal opportunities for investment, might be detrimental to economic progress. We construct two new metadata...

Persistent link: https://www.econbiz.de/10010364975

Long-term effects of equal sharing: evidence from inheritance rules for land

Bartels, Charlotte; Jäger, Simon; Obergruber, Natalie - 2020

What are the long-term economic effects of a more equal distribution of wealth? We exploit variation in historical inheritance rules for land in Germany. In some German areas, inherited land was to be shared or divided equally among children, while in others land was ruled to be indivisible....

Persistent link: https://www.econbiz.de/10012288516

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