The main contribution of the paper is an attempt to address the selection and growth issues by working, not with cohorts of households, but with cohorts of individuals. The gain from doing so is that we dispose completely of selection associated with household formation, which compro-mises our...

The World Bank prepares and publishes estimates of the number of poor people in the world. While everyone knows that these numbers should be taken with a pinch of salt, the numbers are arguably important. This paper discusses a number of problems with the current $1-a-day poverty counts, makes...

Within an overlapping generations model of economic growth, the paper asks how the existence of a fixed supply of land or housing, whose price is bid up by economic growth, affects the accumulation of productive capital along the balanced growth of the economy. Land rules out the Golden rule...

This paper reviews the evidence on growth and saving, considering various models in turn, and summarizing the extent to which they appear to be consistent with the facts. These reviews are necessarily brief, and apart from the first two sections, I focus on models of house-hold behavior that...

In this paper, we use improved techniques and updated data from Taiwan to see if, after all, it is possible to tell a story in which demographic change has large effects on saving. We do this, not because we have any reason to revise our previous empirical results-indeed they are replicated on...