Miracles don't happen any more

Neoclassical Miracles

We study the dynamic behavior of a Neoclassical growth model with finite lifetimes and imperfect altruism in which individuals can accumulate both physical and human capital. We use the model to better understand and explain the behavior of economic miracles. Our results suggest that standard Neoclassical forces can account for the performance of the miracle economies and can explain the protra...

Is ostension any more than attention?

According to natural pedagogy theory, infants are sensitive to particular ostensive cues that communicate to them that they are being addressed and that they can expect to learn referential information. We demonstrate that 6-month-old infants follow others' gaze direction in situations that are highly attention-grabbing. This occurs irrespective of whether these situations include communicative...

When size is not important any more

Wireless phone companies, especially with number portability, sell a product that is less and less different, that is to say, a commodity. That is the reason scale economies play a very important role in this market. Given that it is not possible to make a large margin on the service that they offer, companies must focus their strategies on saving costs. Moreover, the more clients a company has...

Don't get around much any more.

The Miracles of Globalization

By the early 1980s, a number of distinguished economists had amassed compelling evidence that outward-oriented trade policies were far more likely than protectionism to lead to economic growth. The evidence was contained in two multi-country research projects-one at the Organization for Economic Cooperation and Development (OECD), led by Ian Little and others, and the other at the National Bure...