Preparing to Capture Carbon. Daniel Schrag, February 9, 2007, Paper. “Carbon sequestration from large sources of fossil fuel combustion, particularly coal, is an essential component of any serious plan to avoid catastrophic impacts of human-induced climate change. Scientific and economic challenges still exist, but none are serious enough to suggest that carbon capture and storage will not work at the scale required to offset trillions of tons of carbon dioxide emissions over the next century. The challenge is whether the technology will be ready when society decides that it is time to get going…” Link

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Private Credit in 129 Countries. Andrei Shleifer, January 24, 2007, Paper. “We investigate cross-country determinants of private credit, using new data on legal creditor rights and private and public credit registries in 129 countries. Both creditor protection through the legal system and information-sharing institutions are associated with higher ratios of private credit to gross domestic product, but the former is relatively more important in the richer countries. An analysis of legal reforms shows that credit rises after improvements in creditor rights and in information sharing. Creditor rights are remarkably stable over time, contrary…” Link

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Historical legacies: A model linking Africa’s past to its current underdevelopment. Nathan Nunn, 2007, Paper. “Recent studies have found evidence linking Africa’s current under-development to colonial rule and the slave trade. Given that these events ended long ago, why do they continue to matter today? I develop a model, exhibiting path dependence, which provides one explanation for why these past events may have lasting impacts. The model has multiple equilibria: one equilibrium with secure property rights and a high level of production and others with insecure property rights and low levels of production…” Link

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Global Competitiveness Report 2006-2007. Michael Porter, January 1, 2007, Book. “The publication of this year’s Global Competitiveness Report comes at an important juncture for the global economy. After four years of robust growth, the global economy is expected to continue to expand by some 4.9 percent this year.The US economy, though showing signs of a slowdown, remains the world’s primary engine of growth. But remarkably strong growth rates are forecast for many emerging market economies, especially China and India. Yet amid positive growth prospects, there are a number of key uncertainties across the global economic landscape…Link

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The Global Gender Gap Report 2007. Ricardo Hausmann, 2007, Paper. “At the World Economic Forum we recognize that the advancement of women is an important economic, business and societal issue with a significant impact on the growth of nations. Thus, for several years, we have explicitly incorporated aspects of gender equality into our measures of competitiveness and fostered dialogue within our Women Leaders Programme…” Link

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Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data? Philippe Aghion, 2007, Paper. “A common view among macroeconomists is that there is a decoupling between macroeconomic policy (e.g., budget deficit, taxation, money supply), which should primarily affect price and income stability and long-run economic growth, which, if anything, should depend only upon structural characteristics of the economy (property right enforcement, market structure, market mobility, and so forth)…” Link

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Context-Conditional Political Business Cycles. James E. Alt, 2007, Book Chapter in The Oxford Handbook of Comparative Politics. “Offers an innovative structure that responds to the very latest scholarship in comparative politics, with sections covering: theory and methodology, states and the state formation, political consent, political regimes and transitions, political instability, political conflict, mass political mobilization, processing political demands, and governance in comparative perspective.” Link

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Coordinating Development: Can Income-based Incentive Schemes Eliminate Pareto Inferior Equilibria? Rohini Pande, January 2007, Paper, “Individuals’ inability to coordinate investment may significantly constrain economic development. In this paper we study a simple investment game characterized by multiple equilibria and ask whether an income-based incentive scheme can uniquely implement the high investment outcome. A general property of this game is the presence of a crossover investment point at which an individual’s incomes from investment and non- investment are equal. We show that arbitrarily small errors in the government’s knowledge of this crossover point can prevent unique implementation of the high investment outcome. We conclude that informational requirements are likely to severely limit a government’s ability to use income-based incentive schemes as a coordination device.” Link

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The Spike at Benefit Exhaustion: Leaving the Unemployment System or Starting a New Job? Raj Chetty, 2007, Paper. “In this paper, we review the literature on the spike in unemployment exit rates around benefit exhaustion, and present new evidence based on administrative data for a large sample of job losers in Austria. We and that the way unemployment spells are measured has a large e§ect on the magnitude of the spike at exhaustion, both in existing studies and in our Austrian data. Spikes are typically much smaller when spell length is defined by the time to next job than when it is defined by the time spent on the unemployment system...” Link

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Large Dams in India. Rohini Pande, January 2007, Paper. “At independence, in 1947, there were fewer than 300 large dams in India. By the year 2000 the number had grown to over 4000, more than half of them built between 1971 and 1989. India ranks third in the world in dam building, after US and China. While some of these dams were built primarily for flood control, water supply, and hydroelectric power generation, the primary purpose of most Indian dams (96 percent) remains irrigation. In fact, large dam construction has been the main form of investment in irrigation undertaken by the Indian government…” Link

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