In this paper we argue that inventory models are probably not useful models of household money demand because the majority of households does not hold any interest bearing assets. The relevant decision for most people ...

In this paper I try to move away from the Extreme Bounds method of identifying ``robust'' empirical relations in the economic growth literature. Instead of analyzing the extreme bounds of the estimates of the coefficient of ...

166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? We document some of the internationally and historically common features of ...

We estimate the world distribution of income by integrating individual income distributions for 125 countries between 1970 and 1998. We estimate poverty rates and headcounts by integrating the density function below the ...