Chile and Mexico experienced severe economic crises in the early 1980s. This paper analyzes four possible explanations … for why Chile recovered much faster than did Mexico. Comparing data from the two countries allows us to rule out a …

Chile and Mexico experienced severe economic crises in the early 1980s. This paper analyzes four possible explanations … for why Chile recovered much faster than did Mexico. Comparing data from the two countries allows us to rule out a …

We document regularities in the distribution of relative incomes and patterns of investment in countries and over time …. We develop a quantitative version of the neoclassical growth model with a broad measure of capital in which investment … slowest growing countries in the model have growth rates and investment-output ratios similar to those in the data. In both …

We document regularities in the distribution of relative incomes and patterns of investment in countries and over time …. We develop a quantitative version of the neoclassical growth model with a broad measure of capital in which investment … slowest growing countries in the model have growth rates and investment-output ratios similar to those in the data. In both …