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作者：GLOMM, G; PALUMBO, MG
作者单位：University of Houston System; University of Houston; University of Virginia
摘要：This paper studies consumption and saving decisions over time in a life cycle model in which survival from one period to the next is endogenous. Survival probabilities depend on health, which is a capital stock subject to depreciation and which can be augmented by consumption (nutrition). Borrowing is ruled out in our model and we investigate optimal consumption decisions when income fluctuates at seasonal frequencies and when income follows a stochastic process. Among other results, we show t...
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作者：COATE, S; RAVALLION, M
作者单位：The World Bank; University of Pennsylvania
摘要：Various risk sharing arrangements are common in underdeveloped agrarian economies where households have no formal means of contract enforcement and little access to risk markets. Social insurance is still possible through repeated interaction in an environment with few informational asymmetries. In a simple repeated game model of two self-interested households facing independent income streams, we characterize the best arrangement that can be sustained as a noncooperative equilibrium. We estab...
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作者：LAU, LJ; JAMISON, DT; LIU, SC; RIVKIN, S
作者单位：University of California System; University of California Los Angeles
摘要：Capital, labor, human capital and technical progress are the four principal sources of growth of aggregate real output. Based on data from individual Brazilian states in 1970 and 1980, an aggregate meta-production function relating aggregate real output of each state to capital, labor, average education and time is estimated. It is found that one additional year of average-education per person of the labor force increases real output by approximately 20 percent However, there is also evidence ...
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作者：GHOSE, D; KHARAS, H
作者单位：The World Bank
摘要：Most measures of the real effective exchange rate (REER) do not capture the complex ways in which the structure and direction of trade adapt to changes in exchange rates. Conventional measures of the REER are based on the stringent assumptions that cross price elasticities with respect to exports of third party competitors are all zero and with respect to trading partners they are all equal. This paper develops an alternative index of competitiveness that captures the effects of a whole set of...
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作者：RANIS, G; STEWART, F
作者单位：Yale University; University of Oxford
摘要：This paper focusses on the potentially important role of rural nonagricultural activity in the development process. Using the Hymer-Resnick Z-goods model as a point of departure, we first show that its pessimistic conclusions are based on rather restrictive assumptions as applied to the colonial period. We relax these assumptions, indicating the theoretical possibility of a substantially more positive scenario for that period. Subsequently, we analyze the role of Z-goods, traditional and nontr...
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作者：RAMA, M
摘要：This paper introduces distributional activities in one of the simplest endogenous growth models. Firms engage in investment and lobbying, with the extent of the latter determining the number of restrictive regulations in force. As a result, the growth rate increases with the private cost of passing a regulation, while dynamics include rise and decline, as in Olson's theory. The empirical evidence is from Uruguay, a relatively wealthy country that has dramatically lagged behind. It shows that r...
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作者：KAKWANI, N
摘要：Our ultimate objective is to enhance the standard of living of our societies. But the standard of living has different meanings for different people. A thorough investigation of the concept of the standard of living has been made only recently by Sen, who defines it in terms of functioning and capabilities. Functioning is an achievement, whereas capability is the ability to achieve. The main objective of the present paper is to compare achievements (levels) and improvement (changes) in the sta...
