-
作者：Kremer, M
摘要：The nonrivalry of technology, as modeled in the endogenous growth literature, implies that high population spurs technological change. This paper constructs and empirically tests a model of long-run world population growth combining this implication with the Malthusian assumption that technology limits population. The model predicts that over most of history, the growth rate of population will be proportional to its level. Empirical tests support this prediction and show that historically, amo...
-
作者：YOUNG, A
摘要：The influence of Schumpeter's notion of ''creative destruction'' may have led to an overemphasis on substitution between technologies in recent models of endogenous innovation. Historical examples of technological change suggest that new technologies may just as frequently complement older technologies, creating, rather than destroying, rents. Acknowledgment of the potential for both substitution and complementarity among inventions allows for a much richer characterization of the growth proce...
-
作者：KIRMAN, A
摘要：This paper offers an explanation of behavior that puzzled entomologists and economists. Ants, faced with two identical food sources, were observed to concentrate more on one of these, but after a period they would turn their attention to the other. The same phenomenon has been observed in humans choosing between restaurants. After discussing the nature of foraging and recruitment behavior in ants, a simple model of stochastic recruitment is suggested. This explains the ''herding'' and ''epidem...
-
作者：JAFFE, AB; TRAJTENBERG, M; HENDERSON, R
作者单位：Massachusetts Institute of Technology (MIT); Tel Aviv University
摘要：We compare the geographic location of patent citations with that of the cited patents, as evidence of the extent to which knowledge spillovers are geographically localized. We find that citations to domestic patents are more likely to be domestic, and more likely to come from the same state and SMSA as the cited patents, compared with a ''control frequency'' reflecting the pre-existing concentration of related research activity. These effects are particularly significant at the local (SMSA) le...
-
作者：CLAESSENS, S; VANWIJNBERGEN, S
作者单位：University of London; London School Economics & Political Science; University of Amsterdam
摘要：The use of official funds in debt reduction packages has been widely argued to amount to a creditor bailout. We analyze this question using a case study of Mexico's 1989 Brady deal. Using an option-based pricing model, we obtain pre- and postmarket, values for Mexico's commercial debt and find that the market value inclusive or official funds went up only marginally. Consequently, Mexico obtained a large share of the benefits of the official funds and struck a favorable deal. The Brady debt re...
-
作者：CHAPPELL, HW; HAVRILESKY, TM; MCGREGOR, RR
作者单位：Duke University; University of North Carolina; University of North Carolina Charlotte
摘要：We investigate the channels through which partisan influence from a Presidential administration could affect monetary policy-making. Influence could be a result of direct Presidential pressure exerted on members of the Federal Open Market Committee (FOMC), or it could be a result of partisan considerations in Presidential appointments to the Board of Governors. To investigate these two channels of influence, we devise and apply a method for estimating parameters of monetary policy reaction fun...
-
作者：SHLEIFER, A; VISHNY, RW
作者单位：University of Chicago
摘要：This paper presents two propositions about corruption. First, the structure of government institutions and of the political process are very important determinants of the level of corruption. In particular, weak governments that do not control their agencies experience very high corruption levels. Second, the illegality of corruption and the need for secrecy make it much more distortionary and costly than its sister activity, taxation. These results may explain why, in some less developed coun...
-
作者：KING, RG; LEVINE, R
作者单位：The World Bank
摘要：We present cross-country evidence consistent with Schumpeter's view that the financial system can promote economic growth, using data on 80 countries over the 1960-1989 period. Various measures of the level of financial development are strongly associated with real per capita GDP growth, the rate of physical capital accumulation, and improvements in the efficiency with which economies employ physical capital. Further, the predetermined component of financial development is robustly correlated ...
-
作者：CHOW, GC
摘要：First, production functions are estimated for China's aggregate economy and for the five sectors-agriculture, industry, construction, transportation, and commerce-using annual data (some constructed by the author) from 1952 to 1980. Then, this paper measures the contribution of capital formation to the growth of these sectors, the effects of the Great Leap Forward of 1958-1962 and of the Cultural Revolution of 1966-1976 on outputs, the impact of economic reforms since 1979 on growth, the rates...
