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Vollrath, Dietrich

Works: 16 works in 64 publications in 1 language and 336 library holdings
Genres: History 
Roles: Author
Classifications: HD75, 338.9
Publication Timeline
Publications about Dietrich Vollrath
Publications by Dietrich Vollrath
Most widely held works by Dietrich Vollrath
Introduction to economic growth by Charles I Jones( Book )
12 editions published in 2013 in English and held by 124 libraries worldwide
Designed for advanced undergraduates, this text discusses economic growth, how economists have come to understand the growth of countries, how the poor are poor, and how fast rich and poor countries grow
How big are the gains from international financial integration? by Indrit Hoxha( Book )
12 editions published between 2009 and 2011 in English and held by 24 libraries worldwide
We compare welfare in a calibrated neoclassical model of consumption under autarky to welfare under financial integration. The estimated welfare gains of integration depend intimately on the assumed speed of convergence between domestic and world rates of return. Using observed data from 1960-2000 to derive the initial fundamental characteristics for each of 92 countries, we parameterize the convergence process and calculate welfare under different assumptions regarding rates of convergence. Allowing for realistic rates, we calculate that welfare is nearly six times larger than previously found. Expanding our analysis to include the productivity gains from the inflow of FDI implies welfare gains twelve times larger than found before. Our results indicate substantial gains from international financial integration arising from persistent differences in fundamentals across nations
Land inequality and the origin of divergence and overtaking in the growth process : theory and evidence by Oded Galor( Book )
7 editions published in 2003 in English and held by 21 libraries worldwide
Dimensions of land inequality and economic development by Lennart Erickson( Book )
6 editions published in 2004 in English and held by 16 libraries worldwide
There are several theories linking land inequality with aspects of economic development. Empirical work on these theories has attempted to establish a relationship between land inequality and institutions, financial development, and education. This research, though, has relied on measures of land inequality that capture only inequality within the class of landholders, ignoring completely the issue of landlessness. This omission raises suspicion about the usefulness of those empirical results. We use a new measure of the breadth of landholdings across the agricultural population to address this issue. We test the proposed relationships regarding land inequality and development using the new measure. The regressions fail to find significant and robust relationships between land inequality of either type and institutions or financial development. We do find that lower land inequality across agricultural populations, but not inequality within the landholding class, is associated with greater public provision of education
Land distribution and financial system development by Dietrich Vollrath( Book )
9 editions published in 2007 in English and Undetermined and held by 16 libraries worldwide
Research on credit markets from developing economies, as well as work on the origin of institutions in general, has suggested that land inequality may play a role in determining financial development. In this paper we establish empirically that initial land inequality is a significant predictor of financial depth across countries, even while controlling for other predictors such as legal origin, ethnic fractionalization, and income inequality. To examine this relationship we have created a new measure of land distribution within countries that builds upon the work of Deininger and Squire (1998
Inequality in land ownership, the emergence of human capital promoting institutions and the great divergence by Oded Galor( Book )
5 editions published in 2008 in English and held by 10 libraries worldwide
Essays on the macroeconomics of dual economies by Dietrich Vollrath( Book )
2 editions published in 2005 in English and held by 3 libraries worldwide
The Origin of Overtaking in the Growth Process: Land ... by Oded Galor( Book )
2 editions published in 2003 in English and held by 2 libraries worldwide
The role of crop type incross-country income differences by Markus Eberhardt( Book )
2 editions published in 2016 in English and held by 1 library worldwide
Labor productivity and labor share in the agricultural sector are key determinants of living standards across countries. We show that differences in agricultural technology -- the coefficients on factor inputs in the production function -- account for a substantial portion of cross-country differences in agricultural labor productivity, agricultural labor share, and per capita income. In a panel of 100 countries we document differences in technology estimates associated with major crops, and then illustrate the quantitative implications for development. Counterfactually eliminating crop-type technology heterogeneity reduces variance in log income per capita by 25%, and raises the median by 60%
Essays in monetary policy and financial markets by Fatma S Tepe( file )
1 edition published in 2014 in English and held by 1 library worldwide
This dissertation examines the interaction between macroeconomic aggregates and financial markets in two different essays. The expansion of derivatives markets has prompted interest in estimating options-implied measures to analyze market participants' beliefs about future movements in the prices of these derivatives' underlying assets and the probability these participants assign to unlikely events (see Datta et al., 2014). In this spirit, analyzing oil market is important for two main reasons. First, among all commodities, crude oil futures and derivatives are the most traded and liquid asset in the whole commodity market. Second, the informational content of oil derivatives can be indicative of shifts in global economic expectations which may be of interests to producers, investors and policy makers. Because the risk neutral density (RND, hereafter) consists of information from various option series that have a wide range of strike prices and maturities, we can conjecture more detailed effects of news announcements on market sentiment by investigating the changes in the RND. Chapter 1 links the crude oil market to macroeconomic risk by studying the RND around the U.S. macroeconomic news announcements. I use a non-parametric method to recover the RND and conduct regression analysis using daily data. The analysis provides several noteworthy results. First, I find that the RND is systematically affected by certain macroeconomic news announcements. Second, after controlling for the content of the news, my results indicate that good news tend to make the distribution less negatively skewed, whereas bad news have an opposite effect. However, I do not find any systematic pattern between the content (bad/good) of the news and the implied volatility or kurtosis. Hence, my results show that better/worse-than-expected news in macroeconomic announcements may both increase and decrease implied volatility and kurtosis of the option implied distribution. Finally my estimates obtained from nonlinear regressions display that the magnitude of the surprise may play into this effect; for example worse-than-expected news in Housing Starts announcement decrease the implied volatility and increase the implied kurtosis only when the size of surprise is not too large. How should a central bank conduct monetary policy in the presence of financial shocks? In Chapter 2, I use different nonlinear policy rules and address this question. Most empirical work on monetary policy relies on simple linear policy rules, however it is not clear whether such a rule can be an adequate representation of a process as complex as that of monetary policy. I first estimate Markov Switching Taylor rules with constant transition probabilities to allow for state-contingent policy making during 1987.3-2008.4. As a proxy for financial stress, I use the Adjusted National Financial Conditions Index constructed by the Chicago Fed. Then, I allow transition probabilities driving the monetary policy stance to vary over time and be a function of economic and financial indicators. The paper provides clear-cut evidence that, during the Greenspan-Bernanke tenure, the U.S. monetary policy can be characterized falling into two distinct regimes; a conventional regime where the Fed puts a greater emphasis on targeting inflation while stabilizing the economic outlook and a distressed regime where the Fed responds aggressively to output gaps and is less concerned with inflation. The distressed regime is closely correlated with times of financial imbalances. The empirical results show that nonlinear models outperform the simple linear specification in terms of model fit and the ability to track the actual interest rate. Also, the economic and financial indicators are found to be informative in dating the evolution of the state of the monetary policy stance. The results have implications for nonlinear rules to be a useful guideline for forecasting and policy analysis
Land inequality and the origin of divergence and overtaking in the growth process : theory and evidence ( Computer File )
1 edition published in 2003 in English and held by 1 library worldwide
Essays on capital flows in emerging markets by Amrita Dhar( file )
1 edition published in 2016 in English and held by 1 library worldwide
This dissertation comprises two essays. The first essay uses a formal statistical model to identify episodes of extreme movements in capital flows in emerging markets. In particular, I employ a three state Markov switching model to characterize periods of extreme, high, and low net capital flows for a sample of 36 emerging markets using quarterly data on net private capital flows from 1980:Q1 to 2014:Q4. The model identifies 8% percent of the total sample as periods of extreme net inflows (\surges") and 3 percent of the total sample as extreme net outflows (\flights"). Compared to the literature, the model identifies fewer episodes as extreme, and the number of episodes varies substantially across countries. The second essay focus on the dynamic analysis of the effects of these extreme capital flows (surges and flights) on emerging markets' outcomes. The impact of surges and flights on emerging market's outcomes is still an open debate in the international finance literature. Using the surges and flights identified in my first essay, I revisit the question of impact of these extreme flows in capital on emerging markets' aggregate output, current account balance, real and nominal exchange rates. I deal with the potential bias issues from non random assignment of surges and flights using a propensity score method for time series data in a local projection framework and estimate the average effects of the extreme flows on country's outcomes. The results indicate that surges are contractionary in the medium horizon whereas the flights do not have any significant effect on output. The results also show a deterioration in current account balance. There is an appreciation of nominal exchange rate but there is no effect on real exchange rate
Land inequality and the emergence of human capital promoting institutions ( Computer File )
1 edition published in 2005 in English and held by 1 library worldwide
Inequality in land ownership, the emergence of human capital promoting institutions, and the great divergence ( Computer File )
1 edition published in 2006 in English and held by 1 library worldwide
Agricultural technology and structural change by Markus Eberhardt( file )
1 edition published in 2014 in English and held by 1 library worldwide
The origin of overtaking in the growth process : land abundance as a hurdle for education reforms ( Computer File )
1 edition published in 2003 in English and held by 1 library worldwide
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Alternative Names
Vollrath, Dietrich E.
English (63)
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