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Determinants of economic growth in a panel of countries
Barro, Robert J. - In: Annals of economics and finance 4 (2003) 2, pp. 231-275
Persistent link: https://www.econbiz.de/10001930276
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Tractable rare disaster probability and options-pricing
Barro, Robert J.; Liao, Gordon Y. - 2019
We derive an option-pricing formula from recursive preference and estimate rare disaster probability. The new options-pricing formula applies to far-out-of-the money put options on the stock market when disaster risk dominates, the size distribution of disasters follows a power law, and the...
Persistent link: https://www.econbiz.de/10012182396
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Convergence and modernisation
Barro, Robert J. - In: The economic journal : the journal of the Royal … 125 (2015) 585, pp. 911-942
Persistent link: https://www.econbiz.de/10011396646
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Convergence and modernization revisited
Barro, Robert J. - 2012
Persistent link: https://www.econbiz.de/10009612850
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Convergence and Modernization Revisited
Barro, Robert J. - 2012
In an 80-country panel since the 1960s, the convergence rate for per capita GDP is around 1.7% per year. This "beta … "iron-law" rate of 2%. In the post-1960s panel, estimation without country fixed effects supports the modernization … long-term panel with country fixed effects also supports modernization, in the sense of positive effects of per capita GDP …
Persistent link: https://www.econbiz.de/10013101830
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Convergence and Modernization Revisited
Barro, Robert J. - 2012
In an 80-country panel since the 1960s, the convergence rate for per capita GDP is around 1.7% per year. This "beta … "iron-law" rate of 2%. In the post-1960s panel, estimation without country fixed effects supports the modernization … long-term panel with country fixed effects also supports modernization, in the sense of positive effects of per capita GDP …
Persistent link: https://www.econbiz.de/10012460366
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Rare Events and Long-Run Risks
Barro, Robert J. - 2020
Rare events (RE) and long-run risks (LRR) are complementary approaches for characterizing macroeconomic variables and understanding asset pricing. We estimate a model with RE and LRR using long-term consumption data for 42 economies, identify these two types of risks simultaneously from the...
Persistent link: https://www.econbiz.de/10012854524
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Gold Returns
Barro, Robert J.; Misra, Sanjay P. - National Bureau of Economic Research (NBER) - 2013
From 1836 to 2011, the average real rate of price change for gold in the United States is 1.1% per year and the standard deviation is 13.1%, implying a one-standard-deviation confidence band for the mean of (0.1%, 2.1%). The covariances of gold's real rate of price change with consumption and...
Persistent link: https://www.econbiz.de/10010951197
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Rare Macroeconomic Disasters
Barro, Robert J.; Ursua, José F. - National Bureau of Economic Research (NBER) - 2011
The potential for rare macroeconomic disasters may explain an array of asset-pricing puzzles. Our empirical studies of these extreme events rely on long-term data now covering 28 countries for consumption and 40 for GDP. A baseline model calibrated with observed peak-to-trough disaster sizes...
Persistent link: https://www.econbiz.de/10009251532
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A comment on safe assets by Barro et al. (2022)
Coqueret, Guillaume; Filippin, Maria Elena; Laguerre, … - 2024
Barro et al. (2022) investigate the quantity of safe assets held in the cross-section of developed countries and find that the average safe-asset ratio (ratio of safe assets to total assets) was 37% in 2015 and has remained relatively stable over time. They also document a crowding-out...
Persistent link: https://www.econbiz.de/10014543738