Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
Minimum consumptions requirements: theoretical and quantitative implications for growth and distribution
Ravikumar, B.; Chatterjee, Satyajit (1997)
The authors study the impact of a minimum consumption requirement on the rate of economic growth and the evolution of wealth distribution. The requirement introduces a positive dependence between the intertemporal elasticity of substitution and household wealth. This dependence implies a transition phase during which the growth rate of per-capita quantities rise toward their steady-state values and the distributions of wealth, consumption, and permanent income become more unequal. The authors calibrate the minimum consumption requirement to match estimates available for a sample of Indian ...
Working Papers , Paper 97-15

Working Paper
Enduring Relationships in an Economy with Capital and Private Information
Ravikumar, B.; Popov, Latchezar; Khan, Aubhik (2020-09)
We study efficient risk sharing in a model where agents operate linear production technologies with private information about idiosyncratic productivity. Capital is the sole factor of production, and accumulable. We establish a time-invariant, one-to-one mapping between the capital allocated to an agent and his lifetime utility entitlement. The mapping implies properties that are distinct from those in private-information endowment models. In contrast to the endowment model, the value of the risk-sharing arrangement in our model always remains above autarky value, so there is no need for ...
Working Papers , Paper 2020-034

Journal Article
What flattened the earnings profile of recent college graduates?
Ravikumar, B.; Kong, Yu-Chien (2013)
Over their working lifetimes, college graduates who entered the workforce many decades ago experienced a greater increase in wages than more-recent college graduates.
Economic Synopses

Working Paper
On the Transition to Sustained Growth: The Importance of Recent Agricultural Employment
Vandenbroucke, Guillaume; Ravikumar, B. (2025-05-22)
We study a model where a single good can be produced using a diminishing-returns technology (Malthus) and a constant-returns technology (Solow). We map the former to agriculture and show that the share of agricultural employment declines at a constant rate during the economic transition and that recent observations on the share are sufficient to estimate the onset of transition. Our model implies that (i) output growth is higher and increasing after the onset of transition, (ii) during the transition, it is a first-order autoregressive process, and (iii) the rate of decline in the share of ...
Working Papers , Paper 2023-026

Journal Article
Stability and Equilibrium Selection in Learning Models: A Note of Caution
Chien, YiLi; Cho, In-Koo; Ravikumar, B. (2021-10-18)
Relative to rational expectations models, learning models provide a theory of expectation formation where agents use observed data and a learning rule. Given the possibility of multiple equilibria under rational expectations, the learning literature often uses stability as a criterion to select an equilibrium. This article uses a monetary economy to illustrate that equilibrium selection based on stability is sensitive to specifications of the learning rule. The stability criterion selects qualitatively different equilibria even when the differences in learning specifications are small.
Review , Volume 103 , Issue 4 , Pages 477-488

Working Paper
Private Information and Optimal Infant Industry Protection
Riezman, Raymond; Ravikumar, B.; Zhang, Yuzhe (2024-04-18)
We study infant industry protection using a dynamic model in which the industry's cost is initially higher than that of foreign competitors. The industry can stochastically lower its cost via learning by doing. Whether the industry has transitioned to low cost is private information. Using a mechanism-design approach, we solve for the optimal protection policy that induces the industry to reveal its true cost. We show that (i) the optimal protection, measured by infant industry output, declines over time and is less than that under public information, (ii) the optimal protection policy is ...
Working Papers , Paper 2022-013

Journal Article
Geographic Disparity in the U.S. Population
Ravikumar, B.; Mather, Ryan (2020-05-06)
About half the U.S. population resides on less than 200,000 square miles; the rest is spread over more than 3 million square miles.
Economic Synopses , Issue 27

Journal Article
The Role of Infant Mortality in Closing the Life Expectancy Gap
Smaldone, Amy; Ravikumar, B. (2024-02-21)
The difference in life expectancy between rich and poor countries has narrowed since 1970, owing in large part to decreases in infant mortality.
Economic Synopses , Issue 3 , Pages 2 pages

Working Paper
Trade Liberalization versus Protectionism: Dynamic Welfare Asymmetries
Ravikumar, B.; Sposi, Michael; Santacreu, Ana Maria (2023-08-20)
We investigate whether the losses from an increase in trade costs (protectionism) are equal to the gains from a symmetric decrease in trade costs (liberalization). We incorporate dynamics through capital accumulation into a standard Armington trade model and show that the welfare changes are asymmetric: Losses from protectionism are smaller than the gains from liberalization. In contrast, standard static trade models imply that the losses equal the gains. The intuition for asymmetry in our model is that, following protectionism, the economy can coast off of previously accumulated capital ...
Working Papers , Paper 2023-019

show more (30)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords