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their individual savings rates by age. Using unique data from China that enable the re-construction of whole families and … young in China would be 21% lower if housing prices were at the same ratio to disposable incomes as that observed in the …
Persistent link: https://www.econbiz.de/10012863690
It has been difficult to open up the black box of knowledge production. We use unique international data on the publications, citations, and affiliations of mathematicians to examine the impact of a large post-1992 influx of Soviet mathematicians on the productivity of their American...
Persistent link: https://www.econbiz.de/10013066694
This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a...
Persistent link: https://www.econbiz.de/10013076184
Some of the leading theories of momentum have different empirical predictions about its profitability conditional on market composition and structure. The overconfidence explanation provided by Daniel, Hirshleifer, and Subrahmanyam (1998), for example, predicts lower momentum profits in markets...
Persistent link: https://www.econbiz.de/10013012385
The exodus of Soviet Jews to Israel in the 1990s was a unique event. The immigration wave was distinctive for its large high skilled cohort, and its quick integration into the domestic labor market. Immigration also changed the entire economic landscape: it raised productivity, underpinned by...
Persistent link: https://www.econbiz.de/10012928310
The main focus of this paper is on the process and progress of economic reform in Russia. But I start with four historical questions that bear on the current situation. How advanced was Russia in 1913? What relevance, if any, does the New Economic Policy of the 19205, or NEP, have for the...
Persistent link: https://www.econbiz.de/10013215354
Random samples of the Moscow' and New York populations were compared in their attitudes towards free markets by administering identical telephone interviews in the two countries in May, 1990. Although the Soviet respondents were somewhat less likely to accept exchange of money as a solution to...
Persistent link: https://www.econbiz.de/10013224197
Currency substitution (CS) and financial adaptation are in general believed to increase the equilibrium rate of inflation. This result derives from a setup in which the government finances a certain amount of real resources through money printing and where CS reduces the base of the inflation...
Persistent link: https://www.econbiz.de/10013224332
Eastern European countries have experienced sharp declines in real GDP since 1990. One of the reasons for this decline is the Soviet trade shock, deriving from the collapse of the CMEA and of traditional export markets in the Soviet Union. This paper is an attempt to quantify the magnitude of...
Persistent link: https://www.econbiz.de/10013211658
in the United States. We also find that inequality has increased substantially more in Russia than in China and other ex …
Persistent link: https://www.econbiz.de/10012949409