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作者：Arezki, Rabah; Brueckner, Markus
作者单位：International Monetary Fund; University of Adelaide
摘要：We examine the effects that windfalls from international commodity price booms have on external debt in a panel of 93 countries during the period 19702007. Our main finding is that increases in the international prices of exported commodity goods lead to a significant reduction in the level of external debt in democracies but to no significant reduction in the level of external debt in autocracies. To explain this finding, we show that in autocracies commodity windfalls lead to a statistically...
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作者：Clemens, Michael A.; Radelet, Steven; Bhavnani, Rikhil R.; Bazzi, Samuel
作者单位：United States Agency for International Development (USAID); University of Wisconsin System; University of Wisconsin Madison; University of California System; University of California San Diego
摘要：Recent research yields widely divergent estimates of the cross-country relationship between foreign aid receipts and economic growth. We re-analyse data from the three most influential published aidgrowth studies, strictly conserving their regression specifications, with sensible assumptions about the timing of aid effects and without questionable instruments. All three research designs show that increases in aid have been followed on average by increases in investment and growth. The most pla...
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作者：Denicolo, Vincenzo; Zanchettin, Piercarlo
作者单位：University of Leicester; University of Bologna
摘要：We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same sector before being replaced by a new entrant. Initially, new leaders do much of the research but they then tend to rest on their laurels and are eventually overtaken. The model generates a skewed firm size distribution and a deviation from Gibrat's law that accord with the empirical evidence. We also find conditions u...
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作者：Daniel, Betty C.
作者单位：State University of New York (SUNY) System; University at Albany, SUNY
摘要：Investment necessary for growth is risky and often requires external financing. We present a model in which capital market imperfections separate countries into a safe credit club of industrial countries, with low interest rates and steady credit access and a risky club of emerging markets, with high interest rates and volatile access. In an emerging market, a large negative productivity shock interacts with credit-market imperfections to trigger a severe contraction in external lending. Domes...
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作者：Hanson, Gordon H.; McIntosh, Craig
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research
摘要：We use census data for the US, Canada, Spain and UK to estimate bilateral migration rates to these countries from 25 Latin American and Caribbean nations over the period 1980 to 2005. Latin American migration to the US is responsive to labour supply and demand shocks as well as natural disasters. Latin American migration to Canada, Spain and the UK, in contrast, is largely insensitive to these shocks, responding only to civil and military conflict. The results are consistent with US immigratio...
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作者：Neri, Stefano; Ropele, Tiziano
作者单位：European Central Bank; Bank of Italy
摘要：An important concern for the European Central Bank (ECB), and all central banks alike, is the necessity of making decisions in real-time under conditions of great uncertainty about the underlying state of the economy. We address this concern by estimating on real-time data a New Keynesian model for the euro area under the assumption of imperfect information. In comparison to models that maintain the assumption of perfect information and are estimated on ex-post revised, we find that: (i) the e...
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作者：Hensvik, Lena
摘要：This article examines how the entry of private independent high schools in Sweden affects the mobility and wages of teachers in a market with individual wage bargaining. Using matched employeremployee panel data covering all high school teachers over 16 years, I show that the entry of private schools is associated with higher teacher salaries, also for teachers in public schools. The wage returns from competition are highest for teachers entering the profession and for teachers in maths and sc...
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作者：Fairlie, Robert W.; London, Rebecca A.
作者单位：University of California System; University of California Santa Cruz; Stanford University
摘要：There is no clear theoretical prediction regarding whether home computers are an important input in the educational production function. To investigate the hypothesis, we conduct a field experiment involving the random provision of free computers to low-income community college students for home use. Although estimates for a few measures are imprecise and cannot rule out zero effects, we find some evidence that the treatment group achieved better educational outcomes than the control group. Th...
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作者：Corcos, Gregory; Del Gatto, Massimo; Mion, Giordano; Ottaviano, Gianmarco I. P.
作者单位：Norwegian School of Economics (NHH); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：We discuss how standard computable equilibrium models of trade policy can be enriched with selection effects. This is achieved by estimating and simulating a partial equilibrium model that accounts for a number of real world effects of trade liberalisation: richer availability of product varieties; tougher competition and weaker market power of firms; better exploitation of economies of scale; and, of course, efficiency gains via firms selection. The model is estimated on EU data and then simu...
