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Determinants of Long-Term Growth : A Bayesian Averaging of Classical Estimates (BACE) Approach
Doppelhofer, Gernot - 2000
This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included...
Persistent link: https://www.econbiz.de/10012471000
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An Econometric Model of International Long-run Growth Dynamics
Müller, Ulrich K. - 2019
We develop a Bayesian latent factor model of the joint evolution of GDP per capita for 113 countries over the 118 years from 1900 to 2017. We find considerable heterogeneity in rates of convergence, including rates for some countries that are so slow that they might not converge (or diverge) in...
Persistent link: https://www.econbiz.de/10012480537
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Global Universal Basic Skills : Current Deficits and Implications for World Development
Gust, Sarah; Hanushek, Eric Alan; Woessmann, Ludger - National Bureau of Economic Research - 2022
How far is the world away from ensuring that every child obtains the basic skills needed to be internationally … competitive? And what would accomplishing this mean for world development? Based on the micro data of international and regional … skills for 159 countries that cover 98.1% of world population and 99.4% of world GDP. We find that at least two-thirds of the …
Persistent link: https://www.econbiz.de/10013435128
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Population and Welfare : The Greatest Good for the Greatest Number
Adhami, Mohamad; Bils, Mark; Jones, Charles I.; Klenow, … - National Bureau of Economic Research - 2023
the world averages more than 6% per year since 1960 as opposed to 2% per year for consumption growth. Countries such as …
Persistent link: https://www.econbiz.de/10014447320
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Breaks in the Phillips Curve : Evidence from Panel Data
Smith, Simon C.; Timmermann, Allan; Wright, Jonathan H. - National Bureau of Economic Research - 2023
We revisit time-variation in the Phillips curve, applying new Bayesian panel methods with breakpoints to US and European Union disaggregate data. Our approach allows us to accurately estimate both the number and timing of breaks in the Phillips curve. It further allows us to determine the...
Persistent link: https://www.econbiz.de/10014250170
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Methods for Measuring School Effectiveness
Angrist, Joshua D.; Hull, Peter; Walters, Christopher R. - National Bureau of Economic Research - 2022
Many personal and policy decisions turn on perceptions of school effectiveness, defined here as the causal effect of attendance at a particular school or set of schools on student test scores and other outcomes. Widely-disseminated school ratings frameworks compare average student achievement...
Persistent link: https://www.econbiz.de/10013477275
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Sparse Modeling Under Grouped Heterogeneity with an Application to Asset Pricing
Cong, Lin William; Feng, Guanhao; He, Jingyu; Li, Junye - National Bureau of Economic Research - 2023
Sparse models, though long preferred and pursued by social scientists, can be ineffective or unstable relative to large models, for example, in economic predictions (Giannone et al., 2021). To achieve sparsity for economic interpretation while exploiting big data for superior empirical...
Persistent link: https://www.econbiz.de/10014322811
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A Discrimination Report Card
Kline, Patrick; Rose, Evan K.; Walters, Christopher R. - National Bureau of Economic Research - 2024
We develop an empirical Bayes ranking procedure that assigns ordinal grades to noisy measurements, balancing the information content of the assigned grades against the expected frequency of ranking errors. Applying the method to a massive correspondence experiment, we grade the race and gender...
Persistent link: https://www.econbiz.de/10014528353
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Financial development and growth in the short and long run
Fisman, Raymond - 2004
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10010523015
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Inequality and Growth : What Can the Data Say?
Banerjee, Abhijit V. - 2000
This paper describes the correlations between inequality and the growth rates in cross-country data. Using non-parametric methods, we show that the growth rate is an inverted U-shaped function of net changes in inequality: Changes in inequality (in any direction) are associated with reduced...
Persistent link: https://www.econbiz.de/10012470957