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Agency Conflicts, Investment, and Asset Pricing

Albuquerque, Rui; Wang, Neng - National Bureau of Economic Research (NBER) - 2007

The separation of ownership and control allows controlling shareholders to pursue private benefits. We develop an analytically tractable dynamic stochastic general equilibrium model to study asset pricing and welfare implications of imperfect investor protection. Consistent with empirical...

Persistent link: https://www.econbiz.de/10005085388

Growth in a Dual Economy

Blomstrom, Magnus; Wolff, Edward N. - National Bureau of Economic Research (NBER) - 1993

Growth and structural transformation of the manufacturing sector in developing countries are generally considered to be …. Examining the sources of labor productivity growth in Mexican manufacturing, however, does not provide support for such a … productivity growth shows no systematic variation by size class. In fact, small establishments have had the same rate of labor …

Persistent link: https://www.econbiz.de/10005710166

Patterns of Comovement: The Role of Information Technology in the U.S. Economy

Chun, Hyunbae; Morck, Randall; Kim, Jung-Wook; Lee, Jason - National Bureau of Economic Research (NBER) - 2004

Firm-specific variation in stock returns and fundamental performance measures is significantly higher in industries that have a history of more investment in information technology (IT). We hypothesise that IT is associated with creative destruction or product differentiation, either of which...

Persistent link: https://www.econbiz.de/10005710316

International Comparisons of Educational Attainment

Barro, Robert J.; Lee, Jong-Wha - National Bureau of Economic Research (NBER) - 1993

Many theories of economic growth stress the role of human capital in the form of education, but empirical studies have …

Persistent link: https://www.econbiz.de/10005710414

Inequality, Growth, and Investment

Barro, Robert J. - National Bureau of Economic Research (NBER) - 1999

Evidence from a broad panel of countries shows little overall relation between income inequality and rates of growth … and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in …

Persistent link: https://www.econbiz.de/10005710496

Why Did U.S. Market Hours Boom in the 1990s?

Prescott, Edward C.; McGrattan, Ellen - National Bureau of Economic Research (NBER) - 2006

During the 1990s, market hours in the United States rose dramatically. The rise in hours occurred as gross domestic product (GDP) per hour was declining relative to its historical trend, an occurrence that makes this boom unique, at least for the postwar U.S. economy. We find that expensed plus...

Persistent link: https://www.econbiz.de/10005710528

Technology and Labor Regulations

Alesina, Alberto; Zeira, Joseph - National Bureau of Economic Research (NBER) - 2006

Many low skilled jobs have been substituted away for machines in Europe, or eliminated, much more so than in the US, while technological progress at the "top", i.e. at the high-tech sector, is faster in the US than in Europe. This paper suggests that the main difference between Europe and the US...

Persistent link: https://www.econbiz.de/10005710776

Sources of Growth in the Indian Economy

Bosworth, Barry; Collins, Susan M.; Virmani, Arvind - National Bureau of Economic Research (NBER) - 2007

This paper empirically examines India's economic growth experience during 1960-2004, focusing on the post 1973 … -- the concentration of growth in services production, and the modest levels of human and physical capital accumulation. A … growth accounting analysis disaggregates by major sector, and highlights implications for aggregate productivity growth of …

Persistent link: https://www.econbiz.de/10005774963

Retrospective on the 1970s Productivity Slowdown

Nordhaus, William D. - National Bureau of Economic Research (NBER) - 2004

-- industrial data available back to 1948 -- as well as a new set of tools for decomposing changes in productivity growth. The major …

Persistent link: https://www.econbiz.de/10005775060

Urban Growth

Henderson, J. Vernon; Black, Duncan - National Bureau of Economic Research (NBER) - 1997

USA is characterized by parallel growth of cities of different types and on-going entry of new cities, together … growth and endogenous human capital accumulation. Within cities, there are knowledge spillovers as well as scale … externalities. Individual city sizes grow with human capital accumulation; and cities grow in number if national population growth …

Persistent link: https://www.econbiz.de/10005775116