FJ Buera, J Kaboski… - 2009 - nber.org
Income differences across countries primarily reflect differences in total factor productivity
(TFP). More disaggregated data show that the TFP gap between rich and poor countries
varies systematically across industrial sectors of the economy: Poor countries are ...
FJ Buera… - 2010 - nber.org
We quantify the role of financial frictions and the initial misallocation of resources in
explaining development dynamics. Following a reform that triggers efficient reallocation of
resources, our model economy with financial frictions converges slowly to the new steady ...
R Glennerster… - 2003 - books.google.com
This paper finds that reforms introduced by the IMF to promote transparency have created
more informed markets and reduced borrowing costs for those emerging market countries
that volunteered for them. Using a quarterly panel estimation with fixed country effects, we ...
FJ Buera… - 2009 - nber.org
Why doesn't capital flow into fast-growing countries? In this paper, we provide a quantitative
framework incorporating heterogeneous producers and underdeveloped domestic financial
markets to study the joint dynamics of total factor productivity (TFP) and capital flows. ...
Y Shin - Unpublished manuscript, Washington University in St. …, 2006 - artsci.wustl.edu
Abstract This paper studies optimal fiscal policy in an economy with heterogeneous
households and incomplete markets. Relative to a representative-agent version of the
model, the Ramsey planner takes into account the idiosyncratic income risk faced by ...
R Glennerster… - IMF Staff Papers, 2008 - palgrave-journals.com
Abstract This paper studies whether transparency (measured by accuracy and frequency of
macroeconomic information released to the public) leads to lower borrowing costs in
sovereign bond markets. We analyze the data generated during 1999–2002 when the ...
We propose an easy-to-implement simulated maximum likelihood estimator for dynamic
models where no closed-form representation of the likelihood function is available. Our
method can handle any simulable model without latent dynamics. Using simulated ...
Y Shin - Journal of Monetary Economics, 2007 - Elsevier
It is known that a government can implement the optimal complete-market Ramsey
allocations by issuing non-contingent bonds of different maturities. The implied optimal
maturity structure is time-and state-invariant—ie it is not actively managed. I construct a ...
Y Shin - 2003 - bbs.cenet.org.cn
Abstract The optimal fiscal policy literature based on representative agent models
counterfactually predicts that governments will accumulate assets to disperse tax distortions
across time and states. It is an unpleasant ramification of the isomorphism between ...
RE Manuelli, A Seshadri… - Working Paper Series, 2012 - research.stlouisfed.org
We develop a model of retirement and human capital investment to study the effects of tax
and retirement policies. Workers choose the supply of raw labor (career length) and also the
human capital embodied in their labor. Our model explains a significant fraction of the US- ...
[CITATION] nd “Do Sovereign Bond Markets Reward Transparency?”
R Glennerster… - Manuscript, University of Wisconsin. Previous version …
[CITATION] Productivity growth and capital outflow: The dynamics of reforms
FJ Buera… - 2009 - Technical report, NBER Working …
FJ Buera… - Journal of Economic Theory, 2011 - Elsevier
We study the welfare cost of market incompleteness in a generalized Bewley model where
idiosyncratic risk takes the form of entrepreneurial productivity shocks. Market
incompleteness in our framework has two dimensions. First, in the Bewley tradition, only a ...
FJ Buera, JP Kaboski… - 2011 - artsci.wustl.edu
Abstract We provide a quantitative evaluation of the aggregate and distributional impacts of
economy-wide microfinance or credit programs targeted toward small businesses. We find
that the redistributive impacts of microfinance are stronger in general equilibrium (GE) ...
Y Shin - 2004 - papers.ssrn.com
Abstract: This paper studies optimal fiscal policy in an economy with heterogeneous
households and incomplete markets. Relative to a representative-agent version of the
model, the Ramsey planner takes into account the idiosyncratic income risk faced by ...
R Glennerster… - Journal of Development Economics, 2004 - ieo-imf.org
Abstract In this paper we show that those countries that have increased the quality and
quantity of information released to markets since the emerging market crises of the 1990s
have experienced an economically important decline in borrowing costs. We show this ...
[CITATION] Collaboration and power relations among stakeholders in a community festival: The case of the Andong Mask Dance festival, South Korea
Y Shin - 2005
D Kristensen… - Manuscript, Department of Economics, …, 2006 - eea-esem.com
Abstract We propose a nonparametric simulated maximum likelihood estimation (NPSMLE)
with built-in nonlinear filtering. By recursively approximating the unknown conditional
densities, our method enables a maximum likelihood estimation of general dynamic ...
F Buera, B Moll… - Manuscript, University of California, Los …, 2011 - artsci.wustl.edu
Abstract Market failures provide a rationale for policy intervention. But policies are often hard
to alter once in place. We argue that this inertia can result in well-intended policies having
sizable negative long-run effects on aggregate output and productivity. In our theory, ...
Y Shin… - 2003 - books.google.com
This paper finds that reforms introduced by the IMF to promote transparency have created
more informed markets and reduced borrowing costs for those emerging market countries
that volunteered for them. Using a quarterly panel estimation with fixed country effects, we ...
R Glennerster… - 2005 - papers.ssrn.com
Abstract: This paper studies whether transparency (measured by accuracy and frequency of
macroeconomic information released to the public) leads to lower borrowing costs in
sovereign bond markets. We analyze the data generated during the 1999-2002 period, ...
FJ Buera… - web-docs.stern.nyu.edu
The standard economic theory suggests that capital should flow from rich to poor countries,
unless the poor countries have lower overall productivity (Lucas, 1990) or a higher relative
cost of investment (Caselli and Feyrer, 2007). Another prediction of the standard theory, ...
D Lee… - 147.46.167.195
Abstract Human capital has an option-like payoff structure: When hit by a big negative wage
shock, an individual will choose not to work and enjoy leisure instead. The value of an
option increases in volatility; hence, a mean-preserving increase in volatility in individual ...
[CITATION] Subject Tourist-Leisure City as Company Town-Concept, Characteristics and Development Principles
Y Shin - Seoul Studies, 2005
Create email alert
About Google Scholar - All About Google - My Citations
©2012 Google