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Unbundling Institutions
This paper evaluates the importance of property rights institutions', which protect citizens against expropriation by the government and powerful elites, and contracting institutions', which enableExpand
The Network Origins of Aggregate Fluctuations
This paper argues that in the presence of intersectoral input-output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. In particular, it shows that, as the economyExpand
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
In the West are the 'haves', while much of the rest of the world are the 'have-nots'. The extent of inequality today is unprecedented. Drawing on an extraordinary range of contemporary and historicalExpand
Introduction to Modern Economic Growth
Introduction to modern economic growth , Introduction to modern economic growth , کتابخانه دیجیتال و فن آوری اطلاعات دانشگاه امام صادق(ع)
Systemic Risk and Stability in Financial Networks
This paper argues that the extent of financial contagion exhibits a form of phase transition: as long as the magnitude of negative shocks affecting financial institutions are sufficiently small, aExpand
Robots and Jobs: Evidence from US Labor Markets
As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing concern about the future of jobs and wages. We analyze the effect of the increaseExpand
Networks and the Macroeconomy: An Empirical Exploration
The propagation of macroeconomic shocks through input-output and geographic networks can be a powerful driver of macroeconomic fluctuations. We first exposit that in the presence of Cobb-DouglasExpand
Capital Deepening and Nonbalanced Economic Growth
We present a model of nonbalanced growth based on differences in factor proportions and capital deepening. Capital deepening increases the relative output of the more capital‐intensive sector butExpand
Chapter 6 Institutions as a Fundamental Cause of Long-Run Growth
This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empiricalExpand
A Multi-Risk SIR Model with Optimally Targeted Lockdown
We develop a multi-risk SIR model (MR-SIR) where infection, hospitalization and fatality rates vary between groups—in particular between the “young”, “the middleaged” and the “old”. Our MR-SIR modelExpand