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Home / Tag Archives: Cross-country Comparisons (page 6)

Tag Archives: Cross-country Comparisons

Ancestry and Long-Run Growth Reading Club: Chanda Comments

Areedam Chanda kindly sent me the following comments on my post on Chanda, Cook, and Putterman.Bryan Thanks for choosing to discuss our paper and for your positive reaction. A few observations. (a) In your view technology is the most preferable variable followed by population density and urbanization, with agricultural history and state antiquity coming last. Further, you observe that technology does "well" in capturing persistence, while your least preferable variables do the best, with...

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Ancestry and Long-Run Growth Reading Club: Chanda, Cook, and Putterman

Welcome to the fourth and final installment of the EconLog Reading Club on Ancestry and Long-Run Growth. This week's paper: Chanda, Areendam, C. Cook, and Louis Putterman. "Persistence of Fortune: Accounting for Population Movements, There Was No Post-Columbian Reversal." American Economic Journal: Macroeconomics 6 (3): 1-28.The authors data is here.SummaryAcemoglu, Johnson, and Robinson (AJR) famously argued that the world's former colonies have seen a great "reversal of fortune."  On...

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Ancestry and Long-Run Growth Reading Club: Comin, Easterly, and Gong

. This week's paper: Comin, Diego, William Easterly, and Erick Gong. 2010. ".We've already seen what happens if we try to predict nations' current economic conditions using measures of early political organization and agriculture.  As long as we measure nationality by ancestry rather than location, historical precocity predicts modern prosperity.  What happens if we measure early technology in the same way?  Comin, Easterly, and Gong construct a data set on societies' technologies in 1000 BC,...

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Not all depressions are due to NGDP shortfalls

Here's the Financial Times on Brazil: Brazil's economy has suffered a dramatic decline this year. Economists surveyed by the central bank expect economic growth to contract 3.6 per cent this year and 2.7 per cent in 2016 while inflation is expected to reach 10.61 per cent this year and 6.8 per cent in 2016. The central bank's inflation target is 4.5 per cent plus or minus 2 percentage points. That suggests roughly 7% NGDP growth in 2015, a reasonable figure given Brazil's 4.5% inflation...

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My view of macro

Several other bloggers have recently described how they visualize macro, so I'll play copycat. I see three types of macro, each radically different from the other two: Long run nominal is the easiest to explain, then business cycles, and long run real growth is the most complex. 1. Long run nominal trends. Central banks determine the long run trend NGDP growth rate, or long run inflation rate, by adjusting long run growth in the monetary base, relative to money demand/velocity, which is...

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Well-Said

Search EconLog Recent Entries Entries by author Bryan Caplan David Henderson Alberto Mingardi Scott Sumner Browse Archives by date by author by category Subscribe About EconLog Frequently Asked Questions EconLog FAQ Econlib Resources Subscribe by email More FAQ (Instructions and more options) Nicolas Kristof: I've defended Islam from critics like Bill Maher who, as I see it, demonize a diverse faith of 1.6 billion Muslims because a small percentage are...

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The Center Will Hold: I’ll Give You 10:1

Since there appear to be zero takers for my latest bet, I hereby up the odds I'm offering to 10:1.  Thus, if you Paypal me $x, I will send you $11x if the bet goes in your favor.  This provides ample extra compensation for inflation, foregone interest, and my mortality risk. Remember, the bet resolves as soon as a civil war in Western Europe officially surpasses 10,000 fatalities.  So if you win, you will probably win well before 30 years have passed.  If you would have accepted 10:1 odds for...

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More on levels vs. growth rates

I seem to be one of the few people that are neither a China bull nor a China bear. On one side I'm constantly annoyed by China boosters who claim their rapid growth rate is proof of the superiority of the Chinese model. They often go on to claim that other developing countries should reject the "Washington consensus" and adopt a state-led economic model. And yet the facts show the exact opposite. China is far, far poorer than other ethnic Chinese economies, such as Taiwan, Hong Kong, and...

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Is Europe becoming more like the US?

A new article in the Financial Times got me thinking about the US and Europe: Portugal is the EU country hit hardest by a Europe-wide demographic problem as falling fertility rates and ageing populations threaten economic growth and the provision of pension, public health and elderly care services. The looming crisis, described in one newspaper editorial as "a perfect demographic storm", results from a combination of Portugal's plummeting birth rate, a deep recession and a wave of...

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