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We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital … through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is … established, including a poverty trap, wherein children work full-time and no human capital accumulation takes place, with …
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This paper analyzes the issues of immigration and outsourcing in a general-equilibrium model of international factor mobility. In our model, legal immigration is controlled through a quota, while outsourcing is determined both by the firms (in response to market conditions) and through...
Persistent link: https://www.econbiz.de/10003039642
This paper argues that the Kyoto Protocol to the 1992 Framework Convention on Climate Change was doomed to face difficulties ab initio. It explains why this is the case by analyzing the Kyoto Protocol’s shortcomings and deficiencies. Moving the climate change agenda forward multilaterally...
Persistent link: https://www.econbiz.de/10014176156
This paper tests for ex ante and ex post labor supply responses to weather risk for rural Indian farm households. The analysis uses panel data on 2115 households spanning 13 states in rural India, merged with a 22-year series of district-level rainfall data. Ex ante, households facing riskier...
Persistent link: https://www.econbiz.de/10014176232
Theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief by running up new debts or by running down assets. And there are some signs that incremental debt relief over the past two decades has fulfilled those predictions. Debt relief is...
Persistent link: https://www.econbiz.de/10014179655
This paper surveys the role of institutions in promoting economic growth in cross-cultural and historical perspective. It examines inter alia, whether institutional development can be incorporated in formal growth theory, the influence of politics on economic growth and the relationship of...
Persistent link: https://www.econbiz.de/10014181613