International attention is currently focused on alleviating health disparities through the adoption of new paradigms of research and the development of culturally relevant theories of health and illness. Yet, in spite of consistent calls to inform these deficiencies, the methodological trajectory from problem identification to theoretical development has remained relatively elusive. In this art...

This paper o¤ers a bridge between the theoretical literature on endogenous network formation and the empirical work on the impact of social networks on economic performance. We provide a theoretical framework of endogenous network formation that yields testable predictions for the network architectures generated by a particular informal institution common in village economies. We test the impli...

This paper focuses on how inflation interacts with taxes and interest rates to affect capital formation.1 It uses a simple credit-market framework to explain how inflation magnifies the distorting effects of taxation when the tax treatment of interest income and expense is not fully indexed to inflation.2 The distortion involves a real tax wedge consisting of the difference between the real int...

In recent years, policymakers have proposed various fiscal policies to spur long-run economic growth through increased capital formation. The Bush Administration, for example, proposed lowering the capital gains tax rate. The Clinton Administration, among other measures in its economic package, proposed reinstituting the investment tax credit. These proposals stem from heightened concerns that ...

Globalization and Human Capital Formation by Fredrik Andersson and Kai A. Konrad This paper compares education investment in closed and open economies without government and with a benevolent government. Closed economies suffer from a holdup problem of excessive redistribution, and governments use education policy as a second-best tool. Globalization that increases labor mobility reduces govern...

THE CURRENT DISCUSSION of capital formation in the United States reflects a general belief that investment has been inadequate during the 1970s and that this shortfall explains a large part of the current economic difficulties. The productivity slowdown, in particular, is often blamed on the failure of investment to keep the capital stock growing as fast as the number of workers. Specific concl...