We propose a new tool to filter non-linear dynamic models that does not require the researcher to specify the model fully and can be implemented without solving the model. If two conditions are satisfied, we can use a flexible statistical model and a known measurement equation to back out the...

We study the impact of incomplete consumption risk-sharing on land misallocation in rural economies. We develop a general equilibrium model of land cultivation choices, where heterogeneous agricultural households face idiosyncratic output shocks and insure themselves by participating in a...

We develop a macroeconomic theory of the division of household tasks between servants and own work and how it is affected by automation in households and firms. We calibrate the model for the U.S. and apply it to explain the historical development of household time use and the distribution of...

Am 14. Februar wählt Indonesien einen neuen Präsidenten. Nach zehn erfolgreichen Jahren im Amt darf Joko Widodo nicht erneut antreten. Er hat eine Reformära in dem Land eingeläutet. Auch deshalb ist Indonesien seit zwei Dekaden mit jahresdurchschnittlich rund 5 Prozent gewachsen und hat...

This paper aims to explore the effect of financial innovation on economic growth in 28 transition countries from 2004 to 2021. Financial innovation is categorized based on the structure of the financial system, including commercial banks, non-commercial banks and financial markets. By applying...