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Is Zimbabwe More Productive Than the United States? Some Observations From PWT 8.1
In Penn World Table (PWT) 8.1, several developing countries stand out as outliers
with high total factor productivity (TFP) levels relative to the United States (U.S.).
For example, in 2011, Zimbabwe and Trinidad and ...
How do empowerment and self-determination affect national health outcomes?
There remains a persistent gap in health outcomes between wealthy and poor countries. Basic measures such as life expectancy, infant and child mortality remain divergent, with preventable deaths being unacceptably high, ...
Dire Straits v The Cure: Emphasising the Problem or the Solution in Charitable Fundraising for International Development
We conduct a laboratory experiment to test the effect on charitable donations to international development NGOs (INGOs) of emphasising current deprivation in a developing country, versus emphasising the potential good a ...
Did the FED React to Asset Price Bubbles?
This paper investigates whether the U. S. Federal Reserve responds to asset price bubbles or not. We estimate a DSGE model featuring a financial accelerator and a process for asset price bubbles. We find evidence for a ...
The Lion on the Move Towards the World Frontier: Catching Up or Remaining Stuck?
The remarkable growth spurt reported by the Sub-Saharan African (SSA) economy since the mid-1990s offers the opportunity to revisit the narrative of its economic development experience. We investigate whether the SSA economy ...
Cheap Talk in a New Keynesian Model
This paper shows that the stance of fiscal policy does have significant impact on the conduct of monetary policy in the United States. Further, we document that the implied fiscal-monetary policy interactions are subject ...
Exploring heterogeneity for rooftop solar photovoltaic systems
I implement a DCE to collect data with which I explore the variation across households in preferences for seven attributes of solar photovoltaic (PV) systems: upfront cost; savings on purchase of electricity; capitalisation ...
Jobless Recoveries: The Interaction between Financial and Search Frictions
This paper establishes a link between labor market frictions and financial market frictions. We present empirical evidence about the relation between search and financial frictions. Then, we build a stylized DSGE model ...
Does institutional quality resolve the Lucas Paradox?
The Lucas Paradox observes that capital flows predominantly to relatively rich countries, contradicting the neoclassical prediction that it should flow to poorer capital-scarce countries. Alfaro, Kalemli-Ozcan, and Volosovych ...
A New Test of Ricardian Equivalence Using the Narrative Record on Tax Changes
This paper empirically tests the Ricardian equivalence hypothesis with a narrative measure of tax shocks. The present value, at the time of legislation,for tax increases motivated solely by concerns for improving the ...