Institution
National Bureau of Economic Research
Nonprofit•Cambridge, Massachusetts, United States•
About: National Bureau of Economic Research is a nonprofit organization based out in Cambridge, Massachusetts, United States. It is known for research contribution in the topics: Monetary policy & Population. The organization has 2626 authors who have published 34177 publications receiving 2818124 citations. The organization is also known as: NBER & The National Bureau of Economic Research.
Topics: Monetary policy, Population, Exchange rate, Interest rate, Wage
Papers published on a yearly basis
Papers
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TL;DR: For example, this article analyzed the data on life satisfaction and on health satisfaction and look at their relationships with national income, age, and life-expectancy. But the lack of correlations between life and health satisfaction, as well as the low levels of life and self-reported health satisfaction in Eastern Europe and the countries of the former Soviet Union, shows that self-assessed life or health evaluations cannot be regarded as useful summary indicators of human welfare in international comparisons.
Abstract: During 2006, the Gallup Organization conducted a World Poll that used an identical questionnaire for national samples of adults from 132 countries. I analyze the data on life satisfaction and on health satisfaction and look at their relationships with national income, age, and life-expectancy. Average life satisfaction is strongly related to per capita national income; each doubling of income is associated with a near one point increase in life satisfaction on a scale from 0 to 10. Unlike most previous findings, the effect holds across the range of international incomes; if anything, it is slightly stronger among rich countries. Conditional on national income, recent economic growth makes people less satisfied with their lives, improvements in life-expectancy make them more satisfied, but life-expectancy itself has little effect. In most countries, except the richest, older people are less satisfied with their lives. National income moderates the effects of aging on self-reported health, and the decline in health satisfaction with age is much stronger in poor countries than in rich countries. In line with earlier findings, people in much of Eastern Europe and in the countries of the former Soviet Union are particularly dissatisfied with their lives and with their health, and older people in those countries are much less satisfied with their lives and with their health than are younger people. HIV prevalence in Africa has little effect on Africans’ life or health satisfaction; the fraction of Kenyans who are satisfied with their personal health is the same as the fraction of Britons and higher than the fraction of Americans. The US ranks 88th out of 120 countries in the fraction of people who have confidence in their healthcare system, and has a lower score than countries such as India, Iran, Malawi, Afghanistan or Angola . While the strong relationship between life-satisfaction and income gives some credence to the measures, as do the low levels of life and health satisfaction in Eastern Europe and the countries of the former Soviet Union, the lack of correlations between life and health satisfaction and health measures shows that self-assessed life or health evaluations cannot be regarded as useful summary indicators of human welfare in international comparisons.
1,060 citations
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TL;DR: In this paper, the authors review the theory and evidence on IPO activity: why firms go public, why they reward first-day investors with considerable underpricing, and how IPOs perform in the long run.
Abstract: We review the theory and evidence on IPO activity: why firms go public, why they reward first-day investors with considerable underpricing, and how IPOs perform in the long run. Our perspective on the literature is three-fold: First, we believe that many IPO phenomena are not stationary. Second, we believe research into share allocation issues is the most promising area of research in IPOs at the moment. Third, we argue that asymmetric information is not the primary driver of many IPO phenomena. Instead, we believe future progress in the literature will come from non-rational and agency conflict explanations. We describe some promising such alternatives.
1,060 citations
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TL;DR: The authors investigated the ability of the pecking-order model, the agency model, and the timing model to explain firms' decisions whether to issue debt or equity, the shock price reaction to their decisions and their actions afterward.
1,054 citations
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TL;DR: In this paper, the authors examined the effect of environmental policies on technological innovation in the specific case of renewable energy, using patent data on a panel of 25 countries over the period 1978-2003.
Abstract: This paper examines the effect of environmental policies on technological innovation in the specific case of renewable energy. The analysis is conducted using patent data on a panel of 25 countries over the period 1978-2003. It is found that public policy plays a significant role in determining patent applications. Different types of policy instruments are effective for different renewable energy sources.
1,053 citations
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TL;DR: The evidence presented in this article shows that higher corruption is associated with higher public investment, lower government revenues, lower expenditures on operations and maintenance, and a lower quality of public infrastructure.
Abstract: Corruption, particularly political or "grand" corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i) higher public investment; (ii) lower government revenues; (iii) lower expenditures on operations and maintenance; and (iv) lower quality of public infrastructure. The evidence also shows that corruption increases public investment while reducing its productivity. These are five channels through which corruption lowers growth. An implication is that economists should be more restrained in their praise of high public sector investment, especially in countries with high corruption.
1,053 citations
Authors
Showing all 2855 results
Name | H-index | Papers | Citations |
---|---|---|---|
James J. Heckman | 175 | 766 | 156816 |
Andrei Shleifer | 171 | 514 | 271880 |
Joseph E. Stiglitz | 164 | 1142 | 152469 |
Daron Acemoglu | 154 | 734 | 110678 |
Gordon H. Hanson | 152 | 1434 | 119422 |
Edward L. Glaeser | 137 | 550 | 83601 |
Alberto Alesina | 135 | 498 | 93388 |
Martin B. Keller | 131 | 541 | 65069 |
Jeffrey D. Sachs | 130 | 692 | 86589 |
John Y. Campbell | 128 | 400 | 98963 |
Robert J. Barro | 124 | 519 | 121046 |
René M. Stulz | 124 | 470 | 81342 |
Paul Krugman | 123 | 347 | 102312 |
Ross Levine | 122 | 398 | 108067 |
Philippe Aghion | 122 | 507 | 73438 |