Fundamental economic factors—market demand and supply conditions—provide the most consistent explanation for trends in commodity prices from 2004 to 2011. This paper presents empirical evidence that the rise and fall of commodity prices on a monthly basis can be strongly linked to the value...

This note revisits the proof of the steady-state growth theorem, first given by Uzawa in 1961.We provide a clear statement of the theorem, discuss intuition for why it holds, and present a new, elegant proof due to Schlicht (2006). Copyright by the President and Fellows of Harvard College and...

This brief note revisits the proof of the Steady-State Growth Theorem, first provided by Uzawa (1961). We provide a clear statement of the theorem and a new version of Uzawa's proof that makes the intuition underlying the result more apparent.

We evaluate the health effects of a reduction in New Zealand's minimum legal purchase age for alcohol. Difference-in-differences (DD) estimates show a substantial increase in alcohol-related hospitalizations among those newly eligible to purchase liquor, around 24.6% (s.e.=5.5%) for males and...