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Financing Development: The Role of Information Costs

Greenwood, Jeremy; Sanchez, Juan M.; Wang, Cheng - Iowa State University of Science and Technology <Ames, … - 2007

How does technological progress in financial intermediation affect the economy? To address this questiona costly-state verification framework is embedded into a standard growth model. In particular, financialintermediaries can invest resources to monitor the returns earned by firms. The...

Persistent link: https://www.econbiz.de/10009360815

Structural Development Accounting

Gancia, Gino Alessandro; Müller, Andreas; Zilibotti, … - National Centre of Competence in Research - Financial … - 2011

We construct and estimate a unified model combining three of the main sources of cross-country income disparities:[...]

Persistent link: https://www.econbiz.de/10009486844

A model of equilibrium institutions

Guimarães, Bernardo; Sheedy, Kevin D. - London School of Economics and Political Science - 2010

In order to understand inefficient institutions, one needs to understand what mightcause the breakdown of a political … powerand distribution where institutions (the \rules of the game") are set to maximize payoffsof those individuals in power …. Equilibrium institutions arethe fixed point of this constrained maximization problem. This model can be appliedto different …

Persistent link: https://www.econbiz.de/10008911501

Are Human Rights and Economic Well-Being Substitutes? Evidence from Migration Patterns across the Indian States

Libman, Aleksandr M.; Herrmann-Pillath, Carsten; Yadav, … - Frankfurt School of Finance & Management - 2011

The aim of the paper is to study the relation between the demand for human rights and foreconomic prosperity. It analyzes the demand not, as it is often done in the literature, from the“voice” perspective (political activity), but rather looks at the “exit” perspective...

Persistent link: https://www.econbiz.de/10009005032

Risk, Institutions and Growth:Why England and Not China?

Greif, Avner; Iyigun, Murat; Sasson, Diego - Institut zur Zukunft der Arbeit <Bonn> - 2011

We analyze the role of risk-sharing institutions in transitions to modern economies.Transitions requires individual …-level, idiosyncratic risk implies thatdistinct risk-sharing institutions – even those providing the same level of insurance – can leadto … model incorporating England’s andChina’s distinct pre-modern risk-sharing institutions. The model predicts a transition …

Persistent link: https://www.econbiz.de/10009360535

National Economic Accounts

United States / Bureau of Economic Analysis

BEA’s national economic statistics provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These statistics are best known by summary measures such as gross domestic product (GDP), corporate profits, personal income and spending,...

Persistent link: https://www.econbiz.de/10005842817

Redistributive Taxation, Public Expenditures, and the Size of Government

Bandyopadhyay, Sanghamitra; Esteban, Joan - London School of Economics and Political Science; … - 2009

We introduce a model of redistributive income taxation and public expenditure. Thisjoint treatment permits analyzing the interdependencies between the two policies: onecannot be chosen independently of the other. Empirical evidence reveals that partisanconfrontation essentially falls on...

Persistent link: https://www.econbiz.de/10005871006

The Dark Side of Fiscal Stimulus

Strulik, Holger; Trimborn, Timo - Universität <Hannover> / Wirtschaftswissenschaftliche … - 2011

The output multiplier turns negative before a deficit spending program expires.We show the generality of this unpleasant finding for the standard real business cyclemodel. We then calibrate an extended model for the US and demonstrate how fiscalstimulus slows down economic recovery from...

Persistent link: https://www.econbiz.de/10009302595

Public and Private Welfare Activity in the UnitedKingdom, 1979 to 1999

Smithies, Rachel - London School of Economics and Political Science - 2005

This paper analyses the shifting balance between public sector and privatesector welfare provision in the United Kingdom over the past two decades. Fivesectors – education, health, personal social services, housing, and incomemaintenance and social security – are examined over three time...

Persistent link: https://www.econbiz.de/10009354035

Interactions between Private and Public Sector Wages

Afonso, António; Gomes, Pedro - Institut zur Zukunft der Arbeit <Bonn> - 2010

We examine the interactions between public and private sector wages per employee inOECD countries. The growth of public sector wages and of public sector employmentpositively affects the growth of private sector wages. Moreover, total factor productivity, theunemployment rate and the degree of...

Persistent link: https://www.econbiz.de/10009360569