Guido Cozzi

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Ideas about what is "fair" above and beyond the individuals'position in the income ladder in ‡uence preferences for redistribution. We study the dynamic evolution of di¤erent economies in which redistributive policies , perception of fairness, inequality and growth are jointly determined. We show how including fairness explains various observed correlations(More)
  • An Axiomatic Characterization, Paola Maria Valenti, Pablo Beker, J S Butler, Andrea Bubula, Guido Cozzi +1 other
  • 2001
This paper proposes a class of literacy measures that takes into account the externality generated by the presence of literates in the household. It is claimed that such externality is increasing in the number of literates in the household, has characteristics of rivalry in consumption, and therefore is a function of the distribution of literates and(More)
a r t i c l e i n f o Inspired by the Chinese experience, we develop a Schumpeterian growth model of distance to frontier in which economic growth in the developing country is driven by domestic innovation as well as imitation and transfer of foreign technologies through foreign direct investment. We show that optimal intellectual property rights (IPR)(More)
We provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models. We argue that the usual assumptions made in this class of models leave the agents indi¤erent as to where targeting research: hence, the problem of the allocation of R&D investment across sectors is indeterminate. By(More)
Is China's rapid growth sustainable with the current institutions? Will the institution change if the growth slows down? To answer these questions, this paper proposes a theory of politico-economic transition, as follows. In oligarchy, a political elite extracts surplus from the state sector and taxes the private sector. However, to maintain the power, it(More)
  • Margaret Davenport, Katja Mann, Pierre-Olivier Gourinchas, Jürgen Von, Hagen, Guido Cozzi +3 others
  • 2017
In an aging world, how does a country's demographic structure impact external positions in safe and risky assets and their respective prices? We answer these questions combining endogenous portfolio choice over the life-cycle with a two-region, general equilibrium model. We show that when one region is aging faster than the other, its demand for both safe(More)
  • Donghoon Yoo, Gene Ambrocio, Pierpaolo Benigno, Jeffrey Butler, Luisa Corrado, Guido Cozzi +17 others
  • 2016
This paper studies asymmetric responses in consumption where the asymmetries are endogenously generated by agents' preferences and incomplete knowledge about information quality. Agents form expectations about the future based on incomplete information which is assumed to be ambiguous and these future expectations, distorted by ambiguity, affect spending(More)
  • Simon Alder, Henderson, Ashish Vachhani, Simeon D Alder, George-Marios Angeletos, Costas Arkolakis +32 others
  • 2015
This paper uses a general equilibrium trade framework to estimate the contribution of transport infrastructure to regional development. I apply the analysis to India, a country with a notoriously weak and congested transportation infrastructure. I first analyze the development effects of a recent Indian highway project that improved connections between the(More)
  • Maurizio Iacopetta, Raoul Minetti, Pietro Peretto, Raoul Skema, Minetti, Guido Cozzi +5 others
  • 2014
We study the impact of corporate governance frictions in an economy where growth is driven both by the foundation of new Örms and by the in-house investment of incumbent Örms. Firmsí managers engage in tunneling and empire building activities. Active shareholders monitor managers , but can shirk on their monitoring, to the detriment of minority (passive)(More)