Why do growth rates differ? This paper surveys the recent empirical literature on economic
growth, starting with a discussion of stylized facts, data problems, and statistical methods …

The new growth literature, using both endogenous growth and neoclassical models, has
generated strong claims for the effect of national policies on economic growth. Empirical …

Life occasionally has its revelatory moments. In Henry James' The Golden Bowl, it was just a
glance—and then the American heiress knew that her suspicions were accurate: her …

In recent years, there has been a steadily increasing interest on the part of economists in
happiness research. We argue that reported subjective well-being is a satisfactory empirical …

Using a Monte Carlo approach, we find that the bias of LSDV for dynamic panel data models
can be sizeable, even when T= 20. A corrected LSDV estimator is the best choice overall …

W HY DO PEOPLE save? J. Maynard Keynes (1936) lists eight motives which we reproduce
here with one addi-tion: 1 1." To build up a reserve against unforeseen contingencies"(the …

The article documents five stylized facts of economic growth.(1) The “residual”(total factor
productivity, tfp) rather than factor accumulation accounts for most of the income and growth …

This paper examines how changes to the individual income tax affect long-term economic
growth. The structure and financing of a tax change are critical to achieving economic …

In the three months following the Iraqi invasion of Kuwait, the University of Michigan's Index
of Consumer Sentiment (ICS) fell an unprecedented 24.3 index points, to its lowest level …

The rapid economic growth of eight East Asian economies, often called the “East Asian
miracle,” raises two questions: What policies and other factors contributed to that growth …