Showing papers by "Robert E. Lucas published in 1988"
01 Jan 1988
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
19,093 citations
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
16,965 citations
TL;DR: In this paper, the reasons why a migrant and his family voluntarily enter into a mutually beneficial contractual arrangement with each other rather than with a 3rd party are discussed and the conditions under which the contractual arrangement is self-enforcing are identified.
Abstract: Remittances by migrants along with migration itself are elements in a migrant familys intertemporal contractual arrangement. The reasons why the migrant and his family voluntarily enter into a mutually beneficial contractual arrangement with each other rather than with a 3rd party--are discussed and the conditions under which the contractual arrangement is self-enforcing are identified. Both parties can usually benefit from a number of Pareto-efficient mutual contractual arrangements. This gives rise to an indeterminacy problem solved through a bargaining process between the parties who consequently converge to a contractual arrangement implying a specific flow of migrant-to-family remittances. The chosen contractual arrangement reflects the relative bargaining powers of the parties and variables impinging upon these powers thus bear upon remittances. In the light of these arguments tests are conducted on observed remittance behavior across individual migrants in Botswana. (authors)
655 citations
TL;DR: In the graduate courses that I took during the mid-1970s, surveys of the literature on the demand for money included batteries of specifications that were distinguished by choice of monetary aggregate studied; interest rates differing by term and issuer; scale variable; lag structure; and imposition of homogeneity.
344 citations
TL;DR: In this paper, the authors present time-series, simultaneous equation estimates of world demand for 23 categories of manufactured exports from India and test for homotheticity, separability, whether price elasticity of demand differs during world recession, and for effects of foreign learning about India's exports.
31 citations