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Why are the Critics so Convinced that Globalization is Bad for the Poor?

Aisbett, Emma - 2005

Proponents of globalization often conclude that its critics are ignorant or self-motivated. In doing so, they have missed a valuable opportunity to discover both how best to communicate the benefits of globalization, and how to improve on the current model of globalization. This paper examines...

Persistent link: https://www.econbiz.de/10012467621

Capital and Wealth in the 21st Century

Weil, David N. - 2015

In Capital in the 21st Century, Thomas Piketty uses the market value of tradeable assets to measure both productive capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer wealth, which have grown enormously over the last 300...

Persistent link: https://www.econbiz.de/10012457747

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James Alan - 2014

Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...

Persistent link: https://www.econbiz.de/10012457900

Exchange Rate Models Are Not as Bad as You Think

Engel, Charles - 2007

Standard models of exchange rates, based on macroeconomic variables such as prices, interest rates, output, etc., are thought by many researchers to have failed empirically. We present evidence to the contrary. First, we emphasize the point that "beating a random walk" in forecasting is too...

Persistent link: https://www.econbiz.de/10012465332

Measuring Global Economic Activity

Hamilton, James D. - 2019

A number of economic studies have used a proxy for world real economic activity derived from shipping costs. This … with world output, and ability to predict commodity prices. I conclude that measures derived from world industrial …

Persistent link: https://www.econbiz.de/10012479728

Colonialism, Inequality, and Long-Run Paths of Development

Engerman, Stanley L. - 2005

Over the last few years, colonialism, especially as pursued by Europeans, has enjoyed a revival in interest among both scholars and the general public. Although a number of new accounts cast colonial empires in a more favorable light than has generally been customary, others contend that...

Persistent link: https://www.econbiz.de/10012467630

New Data, New doubts : A Comment on Burnside and Dollar's "Aid, Policies, and Growth" (2000)

Easterly, William - 2003

The Burnside and Dollar (2000, AER) finding that aid raises growth in a good policy environment has had an important influence on policy and academic debates. We conduct a data gathering exercise that updates their data from 1970 -93 to 1970 -97, as well as filling in missing data for the...

Persistent link: https://www.econbiz.de/10012468851

Economic Development and the Effectiveness of Foreign Aid : A Historical Perspective

Edwards, Sebastian - 2014

In this paper I discuss the effectiveness of foreign aid from a historical perspective. I show that foreign aid is a relatively new concept in economics, and I emphasize the role of exchange rate policies in the foreign aid controversies of the 1970s through 1990s. I show that in the early 1980s...

Persistent link: https://www.econbiz.de/10012457981

Why World Redistribution Fails

Kopczuk, Wojciech - 2002

An optimal linear world income tax that maximizes a border-neutral social welfare function provides a drastic reduction … in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast an optimal decentralized (i ….e., within countries) redistribution has miniscule effect on world income inequality. Thus, the traditional public finance …

Persistent link: https://www.econbiz.de/10012469524

Politics and the Effectiveness of Foreign Aid

Boone, Peter David - 1995

Critics of foreign aid programs have long argued that poverty reflects government failure. In this paper I analyze the effectiveness of foreign aid programs to gain insights into political regimes in aid recipient countries. My analytical framework shows how three stylized political/economic...

Persistent link: https://www.econbiz.de/10012473562