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Sustainability and the Measurement of Wealth
Arrow, Kenneth J. - 2010
We develop a consistent and comprehensive theoretical framework for assessing whether economic growth is compatible with sustaining well-being over time. The framework focuses on whether a comprehensive measure of wealth - one that accounts for natural capital and human capital as well as...
Persistent link: https://www.econbiz.de/10013135234
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The Effect of Interventions to Reduce Fertility on Economic Growth
Ashraf, Quamrul H. - 2011
quantitative macroeconomic theory. We apply the model to examine the effect of a change in fertility from the UN medium-variant to …
Persistent link: https://www.econbiz.de/10013120983
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Natural Resource Abundance and Economic Growth
Sachs, Jeffrey D.; Warner, Andrew M. - 2021
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year)...
Persistent link: https://www.econbiz.de/10013235583
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The Political Resource Curse
Brollo, Fernanda - 2010
politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …
Persistent link: https://www.econbiz.de/10013148374
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Sustainable Growth and the Green Golden Rule
Beltratti, Andrea; Chichilnisky, Graciela; Heal, Geoffrey M. - 2021
We study a growth model with an environmental asset which is a source of utility and an input to consumption and production. The stock of this asset follows its own ecological dynamics, which are affected by economic activity. We study the implications of an approach to ranking sequences of...
Persistent link: https://www.econbiz.de/10013248110
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The Environment and Directed Technical Change
Acemoglu, Daron - 2010
This paper introduces endogenous and directed technical change in a growth model with environmental constraints and limited resources. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation....
Persistent link: https://www.econbiz.de/10013150439
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The Measurement of Wealth : Recessions, Sustainability and Inequality
Stiglitz, Joseph E. - 2015
This paper considers two central problems in our statistical frameworks which impair the ability to use wealth to assess economic sustainability or the impacts of economic downturns. Some increases in wealth may reflect increased economic rents—in particular, land and exploitation rents—and...
Persistent link: https://www.econbiz.de/10013019127
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Resource Curse or Debt Overhang?
Manzano, Osmel E; Rigobon, Roberto - 2021
It has been widely believed that resource abundant economies grow less than other economies. In a very influential paper, Sachs and Warner (1997), point out that there is a negative relationship between resource abundance and growth. Two important econometric problems are present in the...
Persistent link: https://www.econbiz.de/10013224854
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Factor Endowments, Inequality, and Paths of Development Among New World Economics
Engerman, Stanley L.; Sokoloff, Kenneth L. - 2021
Whereas traditional explanations of differences in long-run paths of development across the Americas generally point to the significance of differences in national heritage or religion, we highlight the relevance of stark contrasts in the degree of inequality in wealth, human capital, and...
Persistent link: https://www.econbiz.de/10013232422
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Addressing the Natural Resource Curse : An Illustration from Nigeria
Sala-i-Martin, Xavier; Subramanian, Arvind - 2021
Some natural resources -- oil and minerals in particular -- exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources....
Persistent link: https://www.econbiz.de/10013233006