the context of two partial equilibrium endogenous growth models. In our first model, the scale of fickle outside … investment funds traces out a meanvariance tradeoff for the growth rate of the economy. In particular, the volatility of these … regulation of outside investment may increase growth. Our second model involves increasing returns and multiple equilibria. In …

Following Galor and Zeira (1993), we study the effect of the world interest rate on inequality and growth for the … Galor and Zeira model: 1) a reduction of the world interest rates increases inequality in rich countries and decreases … inequality in poor countries; 2) inequality has a negative (and significant) effect on hu- man capital accumulation in rich …

complementarity in the practice. The model is estimated on panel data for workers and firms in Russia, facilitating identification …