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ICP 2005 CONSTRUCTION PRICES: ARE THEY UNDERESTIMATED IN DEVELOPING COUNTRIES?
(International Association for Research in Income and Wealth, 2015)
Construction prices are lower in developing countries in ICP 2005, which has raised these countries’ capital/output ratio in Penn World Tables 7 and 8 and affected growth analyses. We estimate the Colombia/U.S. price ratio ...
Human capital and growth in Japan: Converging to the steady state in a 1% world
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I showthat a dynamic Solow growth model, augmented with human capital, weekly hours worked, and ...
Evidence that class size matters in 4th grade mathematics: An analysis of TIMSS 2007 data for Colombia
Like students in most developing countries, Colombian students in 4th grade performed poorly in the TIMSS 2007 test of mathematics skills, achieving an average score of 355 relative to an internationalmean of 500. After ...