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Keywords:economic development OR Economic development OR Economic Development 

Economic Development and the Evolution of Mortality

Since 1960, the gap in GDP per capita between rich and poor countries has remained wide. Yet the gap in death rates has practically vanished during that period.
On the Economy

Journal Article
Technology and growth: an overview

During the 1990s, the Federal Reserve has pursued its twin goals of price stability and steady employment with considerable success. But despite--or perhaps because of--this success, concerns about the pace of economic and productivity growth have attracted renewed attention. Many observers ruefully note that the average pace of GDP growth has remained below rates achieved in the 1960s and that a period of rapid investment in computers and other capital equipment has had disappointingly little impact on the productivity numbers. Most of the industrial world has experienced a similar decline ...
New England Economic Review , Issue Nov , Pages 3-25

Speech
Working Cities Challenge: remarks at the MetroHartford Alliance breakfast event \"Working Cities, Thriving Communities: How Cross-Sector Collaboration Helps Our Communities Thrive\", Hartford, Connecticut, August 8, 2018

Eric Rosengren presented an overview of the Working Cities Challenge covering, among other topics, the initiatives taking place in Connecticut.
Speech , Paper 134

Journal Article
How to Jump-Start Industrialization in Sub-Saharan Africa

Most sub-Saharan nations are poor and a long way from full-scale industrialization. However, certain policies could help spur their economic development.
The Regional Economist

Discussion Paper
The replacement problem

We construct a vintage capital model of economic growth in which the decision to replace old technologies with new ones is modeled explicitly. Depreciation in this environment is an economic, not a physical concept. We describe the balanced growth paths and the transitional dynamics of this economy. We illustrate the importance of vintage capital by analyzing the response of the economy to fiscal policies designed to stimulate investment in new technologies.
Discussion Paper / Institute for Empirical Macroeconomics , Paper 95

Journal Article
Investment ratios and economic growth rates

Economic Review , Issue Spr , Pages 9-20

Conference Paper
Technology and growth: conference proceedings

Conference Series ; [Proceedings] , Volume 40 , Issue Jun

Journal Article
Pegging and stabilization policy in developing countries

I review the case for pegging the exchange rate by surveying the recent theoretical literature on the choice of exchange rate regimes. This literature suggests that by enhancing the transparency or controllability of monetary policy, pegging may be more effective in lowering inflation expectations than other targets (such as money growth). However, under certain conditions a peg may be vulnerable to shifts in expectations. A peg also may require greater fiscal restraint by limiting the availability of inflation tax revenue; however, given certain economic distortions, policymakers may find ...
Economic Review

Journal Article
Pitching for the minor leagues

Fedgazette , Volume 13 , Issue Mar , Pages 2-3

Working Paper
What do cross-sectional growth regressions tell us about convergence?

This paper tests the dynamic implications of beta-convergence with time-series data from 48 contiguous U.S. states. The motivation for this paper rests with the interpretation of results from cross-sectional growth regressions. These results show that poor regions experience faster per-capita income growth than rich regions. This is interpreted as evidence of convergence. However, convergence is a dynamic adjustment process with testable implications in time-series data, while the literature employs cross-sectional data to estimate this dynamic concept. A set of strong assumptions must be ...
Working Papers , Paper 98-4

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