This paper discusses the role of knowledge and the structure of the economy in sustaining high economic growth, with an emphasis on Sub-Saharan Africa. A model of growth, involving learning from different activities, is proposed. Within the context of that model, a discussion is provided on some...

In 2011, a reform in the United Arab Emirates allowed any employer to renew a migrant's visa upon contract expiration without written permission from the initial employer. We find that the reform increased incumbent migrants' earnings and firm retention of these workers. This occurs despite an...

Does the relationship between the Arab Gulf and Africa hold the promise of greatly enhanced and mutually beneficial trade and investment? Can increased collaboration between the two regions increase the economic and political power and influence of each? Are there lessons to be learned from the...

The relationships between Africa and the Indian Ocean span millennia. Between nations in Africa and those on the Indian Ocean there are opportunities for greater trade, for increased investments and for enhanced geo-political cooperation. Further, an evaluation of the economic trajectories of...

This paper examines the dynamic behavior of optimal consumption and investment policies in the aggregate stochastic growth model when utility depends on both consumption and the stock level. Such models arise in the study of renewable resources, monetary growth, and growth with public capital....

Optimal control of a linear process with unknown parameters is considered when the horizon is infinite and rewards are discounted. Active learning strategies are considered, i.e., agents consider the information value of possible actions, as well as current reward. Distributional assumptions are...

This paper investigates belief learning. Unlike other investigators who have been forced to use observable proxies to approximate unobserved beliefs, we have, using a belief elicitation procedure (proper scoring rule), elicited subject beliefs directly. As a result we were able to perform a more...