Learn More
There has been much recent research on the world distribution of income, but also growing recognition of the importance of other contributions to well-being, including those of household wealth. Wealth is important in providing security and opportunity, particularly in poorer countries that lack full social safety nets and adequate facilities for borrowing(More)
We provide the first estimate of the level and distribution of global household wealth. Mean assets and debts within countries are measured, partly or wholly, for 38 countries using household balance sheet and survey data centred on the year 2000. Determinants of mean financial assets, non-financial assets, and liabilities are studied empirically, and the(More)
The paper studies endogenous world balanced growth equilibria in which national learning productivity differentials govern relative per capita products. Learning productivities depend on the national share of world specialized-goods production, national and world scale, and familiarity with the foreign economy. Familiarity indexes the extent to which(More)
Manufacturing productivity growth recovered during the 1980s and 1990s, while other sectors, particularly services, did not. In the same period U.S. manufacturing has engaged in the " outsourcing " or " contracting-out " of service functions. Has the recovery of manufacturing been accomplished by industrial reorganization -sloughing o¤ sluggish(More)
R obert Solow was, perhaps, the first to point out the anomaly between productivity growth and computerization. Indeed, he quipped that we see computers everywhere except in the productivity statistics. As we shall see, industries that have had the greatest investment in computers (namely, financial services) have ranked among the lowest in terms of(More)