The study focused on a cross-section of countries observed in the mid-1990s, so the conclusions from that effort are beginning to be a bit dated. In addition, signi cant revisions of the data underlying the 2005 paper have been published. Last but not least, in the intervening years become aware...

We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks...

Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question "how much of the cross-country income variance can be attributed to...

Introduction and preliminaries -- Skilled and unskilled labor -- Natural and reproducible capital -- Capital and labor -- An endogenous technology framework -- Skilled labor, unskilled labor, and experience over time -- Skills and capital over time and across countries -- Conclusions

Frontmatter -- Contents -- Preface -- 1. Introduction and Preliminaries -- Part I. Technology Differences Across Space -- Part II. Interpreting Technology Differences -- Part III. Technology Differences over Time -- Appendix A. Proofs and Calculations -- Appendix B. A New Data Set on Mincerian...