The size of the average American household has fallen dramatically - from six in 1850 to three in 2000. To explain this decline we model households as collections of roommates who share the costs of household public goods. If private goods are more income elastic than public goods, as we...

The ratio of Indian to US per capita output over the past 45 years has displayed a distinctive V-shaped pattern. We show that a strikingly similar V-shaped pattern is visible not just in aggregate output .figures, but also as the primary determinant of long-term movements in the cross-sectional...

New knowledge in the form of products, processes and organizations leads to opportunities that can be exploited commercially. However, converting new ideas into economic growth requires turning new knowledge into economic knowledge that constitutes a commercial opportunity. Acs, Audretsch,...

Democratic capitalism has become the popular paradigm in the modern world, and it is spreading further through globalization. It is a model based on growth, expansion and constant innovation. However, it is accompanied by social problems which may worsen despite overall gains in wealth. In this...

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common V-Factor accounts for a large part of the significant shift in the cross-sectional...

Die USA haben gewählt und den amtierenden Präsidenten Barack Obama in seinem Amt bestätigt. Nach Ansicht von Josef Braml, Deutsche Gesellschaft für Auswärtige Politik (DGAP), Berlin, bleibt angesichts der auch für Barack Obamas zweiter Amtszeit absehbaren Blockade der politischen Gewalten...