Since the 1980s the debate about economic convergence hasdominated empirical work about the dynamics of growth. Economichistorians have been attracted, in particular, by stories of clubconvergence. However, the analytical foundations of most of the work inthis area have rested on linear, or more...

Economic convergence has emerged as one of the key debates in the theoretical andhistorical literature over the last decade. Galor identified three forms of long run percapita income convergence: absolute convergence, whereby convergence occursindependently of the initial conditions facing each...

Fossil fuels have shaped the European economy since the industrial revolution. We use new long-run panel data to analyse the effect of both, coal and oil on economic growth between 1900 and 2015, exploiting variation at the level of European NUTS2 and NUTS3 regions. We show that the reversal of...

Fossil fuels have shaped the European economy since the industrial revolution. We use new long-run panel data to analyse the effect of both, coal and oil on economic growth between 1900 and 2015, exploiting variation at the level of European NUTS2 and NUTS3 regions. We show that the reversal of...

Fossil fuels have shaped the European economy since the industrial revolution. We use new long-run panel data to analyse the effect of both, coal and oil on economic growth between 1900 and 2015, exploiting variation at the level of European NUTS2 and NUTS3 regions. We show that the reversal of...

[...]What might account for this link between parentalincome and children’s income? Many economists believethat this relationship is due in large part to differentialhuman-capital investment between high-income andlow-income families. High-income parents can invest inmore (and better)...

[...]The New York City Social Indicators Survey (SIS)project represents one effort to track the consequences ofpolicy reform and devolution for inequality and well-beingin the largest and most diverse city in the United States.The project uses a telephone survey to collect data from arepeated...

This paper describes a new and intuitive methodfor answering these technical questions by tabulating theexact loss distribution arising from correlated credit eventsfor any arbitrary portfolio of counterparty exposures, downto the individual contract level, with the losses measuredon a...