Similar Search Results

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

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

Optimal Dynamic Taxes

Golosov, Mikhail; Troshkin, Maxim; Tsyvinski, Aleh - National Bureau of Economic Research (NBER) - 2011

We study optimal labor and savings distortions in a lifecycle model with idiosyncratic shocks. We show a tight connection between its recursive formulation and a static Mirrlees model with two goods, which allows us to derive elasticity-based expressions for the dynamic optimal distortions. We...

Persistent link: https://www.econbiz.de/10009372438

Political Economy of Ramsey Taxation

Acemoglu, Daron; Golosov, Mikhail; Tsyvinski, Aleh - National Bureau of Economic Research (NBER) - 2009

We study the dynamic taxation of capital and labor in the Ramsey model under the assumption that taxes and public good provision are decided by a self-interested politician who cannot commit to policies. We show that, as long as the discount factor of the politician is equal to or greater than...

Persistent link: https://www.econbiz.de/10005108399

Optimal Taxation with Endogenous Insurance Markets

Golosov, Mikhail; Tsyvinski, Aleh - National Bureau of Economic Research (NBER) - 2005

We study optimal tax policy in a dynamic private information economy with endogenous private markets. We characterize efficient allocations and competitive equilibria. A standard assumption in the literature is that trades are observable by all agents. We show that in such an environment the...

Persistent link: https://www.econbiz.de/10005049827

Taxes, Debts, and Redistributions with Aggregate Shocks

Golosov, Mikhail; Sargent, Thomas; Bhandari, Anmol; … - National Bureau of Economic Research (NBER) - 2013

A planner sets a lump sum transfer and a linear tax on labor income in an economy with incomplete markets, heterogeneous agents, and aggregate shocks. The planner's concerns about redistribution impart a welfare cost to fluctuating transfers. The distribution of net asset holdings across agents...

Persistent link: https://www.econbiz.de/10010822034

Preference Heterogeneity and Optimal Capital Income Taxation

Golosov, Mikhail; Weinzierl, Matthew C; Troshkin, Maxim; … - National Bureau of Economic Research (NBER) - 2010

We examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinear functions of income and consumption, we derive an analytical expression that reveals the forces...

Persistent link: https://www.econbiz.de/10008764665