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Technology Differences over Space and Time looks at how countries use their productive resources—such as workers, skills, equipment and structures, and natural resources. Francesco Caselli develops methods to assess the efficiency with which productive inputs are used, and how these efficiencies vary across countries and over time. Caselli finds that richer countries use skilled workers relatively more efficiently than unskilled workers, and equipment and structures relatively more efficiently than natural resources. They also are relatively more efficient users of labor than of capital. Technological change tends to make countries particularly efficient at using skills and less efficient ...
Italian ballet in the eighteenth century was dominated by dancers trained in the style known as "grotesque"—a virtuoso style that combined French ballet technique with a vigorous athleticism that made Italian dancers in demand all over Europe. Gennaro Magri’s Trattato teorico-prattico di ballo, the only work from the eighteenth century that explains the practices of midcentury Italian theatrical dancing, is a starting point for investigating this influential type of ballet and its connections to the operatic and theatrical genres of its day. The Grotesque Dancer on the Eighteenth-Century Stage examines the theatrical world of the ballerino grottesco, Magri’s own career as a dancer in I...
Leading economists address the ongoing challenges to economics in theory and practice in a time of political and economic crises. More than a decade of financial crises, sovereign debt problems, political conflict, and rising xenophobia and protectionism has left the global economy unsettled and the ability of economics as a discipline to account for episodes of volatility uncertain. In this book, leading economists consider the state of their discipline in a world of ongoing economic and political crises. The book begins with three sweeping essays by Nobel laureates Kenneth Arrow (in one of his last published works), Amartya Sen, and Joseph Stiglitz that offer a summary of the theoretical f...
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtle...
The book sheds new light on the history of the Eurozone crisis and provides crucial lessons for the way forward.
The Economic Report of the President provides valuable information about the present state of the U.S. economy and its future course. It includes: Current and foreseeable trends and annual numerical goals concerning topics such as employment, production, real income and Federal budget outlays. Employment objectives for significant groups of the labor force. Annual numeric goals. A program for carrying out program objectives. The Report is transmitted to Congress no later than 10 days after the submission of the Budget of the United States Government. Supplementary reports can be issued to the Congress which contain additional and/or revised recommendations. Included in the Economic Report of the President is the Annual Report of the Council of Economic Advisers. Each year, the Council of Economic Advisers submits this report on its activities during the previous calendar year in accordance wi
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Volumes 2A and 2B of The Handbook of Economic Growth summarize recent advances in theoretical and empirical work while offering new perspectives on a range of growth mechanisms, from the roles played by institutions and organizations to the ways factors beyond capital accumulation and technological change can affect growth. Written by research leaders, the chapters summarize and evaluate recent advances while explaining where further research might be profitable. With analyses that are provocative and controversial because they are so directly relevant to public policy and private decision-making, these two volumes uphold the standard for excellence in applied economics set by Volumes 1A and 1B (2005). - Offers definitive theoretical and empirical scholarship about growth economics - Empowers readers to evaluate the work of other economists and to plan their own research projects - Demonstrates the value of empirical testing, with its implicit conclusion that our understanding of economic growth will help everyone make better decisions
This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no discovery are the control group. The results show that oil discoveries significantly increase per capita GDP and urbanization. We find positive spillovers to non-oil sectors, specifically, an increase in services GDP which stems from higher output per worker. The results are consistent with greater local demand for non-tradable services driven by highly paid oil workers.