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We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With analytical and numerical methods, we calibrate and make tractable a(More)
This paper evaluates two well-known models of growth with inequality that have explicit micro underpinnings related to household choice. With incomplete markets or transactions costs, wealth can constrain investment in business and the choice of occupation and also constrain the timing of entry into the formal financial sector. Using the Thai Socio-Economic(More)
An important puzzle in internatio nal macroeconomics is the exchange rate disconnect puzzle. Nominal exchange rates seem to be unrelated to other macroeconomic variables, for example, export quantities. This paper uses Japanese firm level data to examine whether exchange rate fluctuations are strongly related to the export quantities of firms. We build a(More)
This paper shows that growth and income distribution dynamics are closely linked through occupation, financial intermediation, and education. We use the micro data from Thailand for 1976-1996. The composi-tional changes across these characteristics account for half of the Thai inequality increase and forty percent of the Thai growth and poverty reduction.(More)
This paper studies how countries in different stages of development respond to the emergence of a poor, giant economy. Recent examples of emerging giants include China towards the end of the 20th century and Japan (and to some extent western Europe) in the middle of the 20th century. The central finding of this paper is that an emerging giant sets in motion(More)
The aim of this paper is to help understand why not all countries converge rapidly to the use of the most efficient or best practice technologies. Since micro level studies in developing countries suggest managerial skills play a key role in the adoption of modern technologies, and the human resources literature suggests that managerial skills are difficult(More)
The Kuznets curve postulates a dynamic relationship between growth and income inequality for a given economy. These two aggregate phenomena are linked through compositional changes in individual characteristics when self-selection is constrained by personal wealth. This paper attempts to identify the crucial characteristics associated with this dynamic(More)
BACKGROUND Irritable bowel syndrome is one of the most commonly encountered gastrointestinal disorders, for which there are no established diagnostic criteria. Thus, a diagnosis of IBS is made by exclusion of any organic diseases. Recently, important attempts for the positive diagnosis of irritable bowel syndrome by questionnaire surveys of physical(More)
The excited-state triple proton relay of 7-hydroxyquinoline (7HQ) along a hydrogen-bonded methanol chain in room temperature ionic liquids (RTILs) has been investigated using picosecond time-resolved fluorescence spectroscopy. The rate constant of the proton relay in a methanol-added RTIL is found to be slower by an order of magnitude than that in bulk(More)