Neoclassical Miracles - GMPI events - FRB Dallas

A Factor-Proportions Theory of Endogenous Firm Heterogeneity - GMPI seminar - FRB Dallas

In the model where the choices of technology by firms endogenously determine productivity differences, we investigate the link between factor endowment and the productivity both in the firm and industry levels. We find among others that firms in capital-abundant countries tend to adopt new advanced technologies more in their production processes, and that opening to international trade will not...

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...

Bank Acquisition Determinants: Implications for Small Business Credit - FRB Dallas

The views expressed are those of the author and do not necessarily reflect the position of the Federal Reserve Bank of Dallas or the Federal Reserve System.

Friedman and Taylor on Monetary Policy Rules: A Comparison - Taylor conference 2007 - FRB Dallas

Vehicle Currency - GMPI working paper no. 10 - FRB Dallas

While in principle, international payments could be carried out using any currency or set of currencies, in practice, the US dollar is predominant in international trade and financial flows. The dollar acts as a ‘vehicle currency’ in the sense that agents in non-dollar economies will generally engage in currency trade indirectly using the US dollar rather than using direct bilateral trade among...