There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post … remarkable long-running panel data set for rural households in Zimbabwe. We find that risk substantially reduces growth: in the …, the first micro-based estimate of the effect of shocks on growth. About two-thirds of the impact of risk is due to the ex …

Using a unique panel data set for rural households in Zimbabwe we estimate amicroeconomic model of growth under … uncertainty, a stochastic version of the Ramsey modelwith livestock as the single asset. We use the estimation results in …, we find powerful convergence. In the absence of shocks and withouthousehold fixed effects there is rapid growth over the …

We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … exchange. Growth is generated through human capital accumulation and knowledge externalities. The available knowledge in any … industrial revolution. Knowledge diffusion through a Small World network produces an extraordinary diversity of individual growth …

This paper studies the connection between trade and growth in the context of a partial and inconsistent liberalization … for the closer integration with Russia and the impact of this process on Belarus growth led us to the conclusion that the … conclusion is supported by the results of country-specific growth regressions and of a counterfactual free trade experiment via a …

-run equilibrium characteristic of a two-region model with fixed exchange rates, heterogeneous labor markets, and endogenous growth …. Under flexible exchange rates, monetary policy closes output gaps and realizes the associated maximum TFP growth in both … regions. Upon fixing exchange rates, the region with higher structural wage inflation falls into a low-growth trap. When …

To investigate the role of intra-regional trade integration on economic growth in Latin America, we develop a … factor for explaining growth, while the importance of domestic spillovers is limited. The growth volatility is substantively …

Time varying patterns in US growth are analyzed using various univariate model structures, starting from a naive model … conditional variance are specified together with their interaction, including survey data on expected growth in order to … forecasting performance of the various model specifications. The extension of a basic growth model with a constant mean to models …