conclusive evidence that they are positive, as theory predicts. This paper shows that the lack of empirical evidence is … consistent with theory if countries are in transition to FDI openness. Anticipated welfare gains lead to temporary declines in … reconciliation of theory and evidence is accomplished with a multicountry dynamic general equilibrium model parameterized with data …

of the largest 50 economies in the world, a reduction in entry costs all the way to the U.S. level leads to an average …

consumption, and the total dollar costs of completely insuring against temperature variation are 2.46% of world GDP. If we allow … world GDP. We show that the same features, long-run risks and recursive-preferences, that account for the risk-free rate and …