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Ashraf, Quamrul H.; Lester, Ashley; Weil, David N. - 2008

We assess quantitatively the effect of exogenous health improvements on output per capita. Our simulation model allows for a direct effect of health on worker productivity, as well as indirect effects that run through schooling, the size and age-structure of the population, capital accumulation,...

Persistent link: https://www.econbiz.de/10010284028

The effect of interventions to reduce fertility on economic growth

Ashraf, Quamrul H.; Weil, David N.; Wilde, Joshua - 2011

time input into child-rearing, and crowding of fixed natural resources. The model is parameterized using a combination of …

Persistent link: https://www.econbiz.de/10010287727

Growing into and out of Social Conflict

Harms, Philipp; Zink, Stefan - 2002

We present a model of growth and distributional conflict that implies a non-monotonic relationship between average wealth and the likelihood of radical redistribution: while the net benefits of redistribution for members of the poor class are small at low stages of development, a shift towards...

Persistent link: https://www.econbiz.de/10011430034

The Colonial and Geographic Origins of Comparative Development

Auer, Raphael - 2009

While the direct impact of geographic endowments on prosperity is present in all countries, in former colonies, geography has also affected colonization policies and, therefore, institutional outcomes. Using non-colonized countries as a control group, I develop an empirical strategy that...

Persistent link: https://www.econbiz.de/10011430076

The Buffett plan for reducing the trade deficit

Papadimitriou, Dimitri B.; Hannsgen, Greg; Zezza, Gennaro - 2008

This paper considers a plan proposed by Warren Buffett, in which importers would be required to obtain certificates proportional to the amount of non-oil goods (and possibly also services) they brought into the country. These certificates would be granted to firms that exported goods. Exporting...

Persistent link: https://www.econbiz.de/10010266564

Fiscal policy and the economics of financial balances

Zezza, Gennaro - 2009

This paper presents the main features of the macroeconomic model being used at The Levy Economics Institute of Bard College, which has proven to be a useful tool in tracking the current financial and economic crisis. We investigate the connections of the model to the New Cambridge" approach, and...

Persistent link: https://www.econbiz.de/10010266583

Prolegomena to realistic monetary macroeconomics: a theory of intelligible sequences

Godley, Wynn; Lavoie, Marc - 2006

This paper sets out a rigorous basis for the integration of Keynes-Kaleckian macroeconomics (with constant or increasing returns to labor, multipliers, mark-up pricing, etc.) with a model of the financial system (comprising banks, loans, credit money, equities, etc.), together with a model of...

Persistent link: https://www.econbiz.de/10010272887

A simplified benchmark Stock-Flow Consistent (SFC) post-Keynesian growth model

dos Santos, Cláudio H.; Zezza, Gennaro - 2007

Despite being arguably one of the most active areas of research in heterodox macroeconomics, the study of the dynamic properties of stock-flow consistent (SFC) growth models of financially sophisticated economies is still in its early stages. This paper attempts to offer a contribution to this...

Persistent link: https://www.econbiz.de/10010276449

When to ease off the brakes (and hopefully prevent recessions)

Hastings, Harold M.; Young-Taft, Tai; Wang, Thomas - 2019

Increases in the federal funds rate aimed at stabilizing the economy have inevitably been followed by recessions. Recently, peaks in the federal funds rate have occurred 6-16 months before the start of recessions; reductions in interest rates apparently occurred too late to prevent those...

Persistent link: https://www.econbiz.de/10012142976

The Macroeconomic Forecasting Performance of Autoregressive Models with Alternative Specifications of Time-Varying Volatility

Clark, Todd E.; Ravazzolo, Francesco - 2012

This paper compares alternative models of time-varying macroeconomic volatility on the basis of the accuracy of point … vector autoregressive models that incorporate some form of time-varying volatility, precisely stochastic volatility (both … with constant and time-varying autoregressive coefficients), stochastic volatility following a stationary AR process …

Persistent link: https://www.econbiz.de/10012143797