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The world our grandchildren will inherit : the rights revolution and beyond

Acemoglu, Daron - 2012

Following on Keynes's Economic Possibilities for Our Grandchildren, this paper develops conjectures about the world we …

Persistent link: https://www.econbiz.de/10009540751

Political Limits to Globalization

Acemoglu, Daron; Yared, Pierre - 2011

Despite the major advances in information technology that have shaped the recent wave of globalization, openness to trade is still a political choice, and trade policy can change with shifts in domestic political equilibria. This paper suggests that a particular threat and a limiting factor to...

Persistent link: https://www.econbiz.de/10014045773

Persistent Appreciations and Overshooting : A Normative Analysis

Caballero, Ricardo J.; Lorenzoni, Guido - 2007

Most economies experience episodes of persistent real exchange rate appreciations, when the question arises whether there is a need for intervention to protect the export sector. In this paper we present a model of irreversible destruction where exchange rate intervention may be justified if the...

Persistent link: https://www.econbiz.de/10014051212

Competing Engines of Growth : Innovation and Standardization

Acemoglu, Daron; Gancia, Gino Alessandro; Zilibotti, … - 2014

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are adapted to be produced using unskilled labor. Our...

Persistent link: https://www.econbiz.de/10014195649

What is Middle Class About the Middle Classes Around the World?

Banerjee, Abhijit V.; Duflo, Esther - 2008

This paper uses household surveys from 13 developing countries to describe consumption choices, health and education investments, employment patterns and other features of the of the economic lives of the middle classes defined as those whose daily consumption per capita is between $2 and $4 or...

Persistent link: https://www.econbiz.de/10014221786

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James Alan - 2014

Thomas Piketty's (2013) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...

Persistent link: https://www.econbiz.de/10013040288

A Caricature (Model) of the World Economy

Caballero, Ricardo J. - 2011

also differ. I use this caricature of the world economy to describe several of the main driving forces behind recent global …

Persistent link: https://www.econbiz.de/10013132265

The 'Other' Imbalance and the Financial Crisis

Caballero, Ricardo J. - 2009

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

Persistent link: https://www.econbiz.de/10013152926

Currency Crises from Andrew Jackson to Angela Merkel

Temin, Peter - 2013

Vines, The Leaderless Economy, Why the World Economic System Fell Apart and How to Fix It (Princeton, 2013) …

Persistent link: https://www.econbiz.de/10013086806

Democracy, Redistribution and Inequality

Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual; … - 2013

In this paper we revisit the relationship between democracy, redistribution and inequality. We first explain the theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this expectation may fail to be realized when democracy is captured by the...

Persistent link: https://www.econbiz.de/10013071803