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Life Expectancy and Income Convergence in the World : A Dynamic General Equilibrium Analysis

Ueda, Kenichi - 2008

There is world-wide convergence in life expectancy, despite little convergence in GDP per capita. If one values longer … life much more than material happiness, the world living standards may this have already converged substantially. This … among countries. A conventional GDP-based measure remains a good approximation for (non) convergence in world living …

Persistent link: https://www.econbiz.de/10014409039

A New Perspective on Temperature Shocks

Rebei, Nooman - 2025

Prevailing research suggests that climate change disproportionately burdens emerging markets and developing economies with greater output losses compared to advanced economies, positing that colder regions are less impacted than their warmer counterparts. This study revisits the empirical...

Persistent link: https://www.econbiz.de/10015328046

Elasticity Optimism

Fund, International Monetary - 2009

In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...

Persistent link: https://www.econbiz.de/10012677518

What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast?

Batini, Nicoletta - 2009

world slowdown helped avert the worse, but inflation stayed high in many inflation targeting countries. This …

Persistent link: https://www.econbiz.de/10012677710

International Risk Sharing

Matsumoto, Akito - 2009

Well-known empirical puzzles in international macroeconomics concern the large divergence of equilibrium outcomes for consumption across countries from the predictions of models with full risk sharing. It is commonly believed that these risk-sharing puzzles are related to another empirical...

Persistent link: https://www.econbiz.de/10012677771

An Alternative Explanation for the Resource Curse

Alichi, Ali - 2009

The paper provides an alternative explanation for the ""resource curse"" based on the income effect resulting from high government current spending in resource rich economies. Using a simple life cycle framework, we show that private investment in the non-resource sector is adversely affected if...

Persistent link: https://www.econbiz.de/10012677783

Tourism Specialization and Economic Development

Piotrowski, John M. - 2009

UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and …

Persistent link: https://www.econbiz.de/10012677835

International Evidence on Recovery from Recessions

Cerra, Valerie - 2009

Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence of the shock. Indeed, monetary and fiscal stimulus and foreign aid can spur a...

Persistent link: https://www.econbiz.de/10012677840

Inflation Targeting at 20

Roger, Scott - 2009

This paper provides an overview of inflation targeting frameworks and macroeconomic performance under inflation targeting. Inflation targeting frameworks are generally quite similar across countries, and a broad consensus has developed in favor of ""flexible"" inflation targeting. The evidence...

Persistent link: https://www.econbiz.de/10012677863

Analyzing Fiscal Space Using the MAMS Model

Fund, International Monetary - 2009

within the World Bank's MAMS model, which is a multisectoral real computable general equilibrium model that incorporates the …

Persistent link: https://www.econbiz.de/10012677888