The authors report on the latest version of the worldwide governance indicators, covering 213 countries and territories and measuring six dimensions of governance from 1996 until end-2005: voice and accountability, political stability and absence of violence, government effectiveness, regulatory...

Obtaining reliable data on capital is a recurring challenge when estimating economy-wide productivity growth, especially for developing countries. In this paper I construct energy-based productivity series which use energy consumption instead of capital when making such estimates. I first show...

The expanding/contracting behavior of monetary macroeconomic models is largely driven by government deficits. Their monetary effects on inflation and monetary growth determine the real value of money (or of government debt) in the long run. Only positive stationary (constant) real values of...

In this paper it is described the school of neo-Keynesians (Akerlof and Stiglitz are in the group of "Hard" New-Keynesians, that don't accept New neo-classical synthesis, i.e. Dynamic Stochastic General equilibrium models-DSGE),that as a basic source of instability in the economies view the...

This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute to income inequality. Those explanations are contrasted with a structural Keynesian explanation. The role of income inequality differs substantially, giving rise to different...

This paper explores whether foreign aid is self-interested, exploiting the timing and size of major mineral discoveries. We first analyze the effect a resource discovery in a two-by-two donor-recipient model with conflict about natural resources, using a contest success function. We then...