Showing 1 - 10 of 79
This paper derives limit distributions of empirical likelihood estimators for models in which inequality moment conditions provide overidentifying information. We show that the use of this information leads to a reduction of the asymptotic mean-squared estimation error and propose asymptotically...
Persistent link: https://www.econbiz.de/10005789119
We consider the role of capital mobility and international taxation in explaining the observed diversity in long-term income growth rates. Under perfect capital mobility, international differences in taxes will not matter for total growth differentials. Policy differences have a role to play in...
Persistent link: https://www.econbiz.de/10005067595
population growth rates. Corroborative evidence is found for the theoretical results on the convergence/divergence in long …
Persistent link: https://www.econbiz.de/10005656281
Early retirement represents a policy response to the appearance of a mass of redundant middle-aged workers, who were not entitled to a pension transfer in their old age. This policy is distortionary, since it reduces the incentive to accumulate human capital, hence decreasing economic growth: it...
Persistent link: https://www.econbiz.de/10005667126
In this paper we consider the effects of minimum wage legislation in an overlapping generations model. In our model there is an intergenerational externality in the accumulation of human capital since the production of human capital of every new generation depends positively on the average human...
Persistent link: https://www.econbiz.de/10005789188
This research suggests that the distribution of land within and across countries affected the nature of the transition from an agrarian to an industrial economy, generating diverging growth patterns across countries. Land abundance, which was beneficial in early stages of development, generated...
Persistent link: https://www.econbiz.de/10005792428
In order to credibly "sell" legitimate children to their spouse, women must forego more attractive mating opportunities. This paper derives the implications of this observation for the pattern of matching in marriage markets, the dynamics of human capital accumulation, and the evolution of the...
Persistent link: https://www.econbiz.de/10005123619
According to the ‘convergence hypothesis’, multinational companies will tend to displace national firms and trade as … measures are then used to test the convergence hypothesis for a panel of data of country pairs over the years 1985-96. Our … results provide some empirical support for the convergence hypothesis. …
Persistent link: https://www.econbiz.de/10005504219
This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments...
Persistent link: https://www.econbiz.de/10005504299
countries. Moreover, it does not necessarily yield convergence in levels for identically parameterized economies. All in all …
Persistent link: https://www.econbiz.de/10005504435