Found 133 article(s) for author 'Ricardo Hausmann'

Welcome Home in a Crisis: Effects of Return Migration on the Non-migrants’ Wages and Employment

Welcome Home in a Crisis: Effects of Return Migration on the Non-migrants’ Wages and Employment. Ricardo Hausmann, 2017, Paper, “Albanian migrants in Greece were particularly affected by the Greek crisis, which spurred a wave of return migration that increased Albania’s labor force by 5% between 2011 and 2014 alone. We study how this return migration affected the employment chances and earnings of Albanians who never migrated. We find positive effects on the wages of low-skilled non-migrants and overall positive effects on employment. The gains partially offset the sharp drop in remittances in the observed period. The employment gains are concentrated in the agricultural sector, where most return migrants engage in self-employment and entrepreneurship. Businesses run by return migrants seem to pull Albanians from non-participation, self-employment and subsistence agriculture into commercial agriculture.Link

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Exploring the Uncharted Export: an Analysis of Tourism-Related Foreign Expenditure with International Spend Data

Exploring the Uncharted Export: an Analysis of Tourism-Related Foreign Expenditure with International Spend Data. Ricardo Hausmann, 2016, Paper, “Tourism is one of the most important economic activities in the world: for many countries it represents the single largest product in their export basket. However, it is a product difficult to chart: “exporters” of tourism do not ship it abroad, but they welcome importers inside the country. Current research uses social accounting matrices and general equilibrium models, but the standard industry classifications they use make it hard to identify which domestic industries cater to foreign visitors. In this paper, we make use of open source data and of anonymized and aggregated transaction data giving us insights about the spend behavior of foreigners inside two countries, Colombia and the Netherlands, to inform our research.Link

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Overdosing on Heterodoxy Can Kill You

Overdosing on Heterodoxy Can Kill You. Ricardo Hausmann, May 30, 2016. “Ever since the 2008 financial crisis, it has been common to chastise economists for not having predicted the disaster, for having offered the wrong prescriptions to prevent it, or for having failed to fix it after it happened. The call for new economic thinking has been persistent – and justified. But all that is new may not be good, and that all that is good may not be new.Link

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Economic Development and the Accumulation of Know-how

Economic Development and the Accumulation of Know-how. Ricardo Hausmann, May 2016, Paper. “Economic development depends on the accumulation of know-how. The theory of economic growth has long emphasised the importance of something called technical progress, but what that is, and how it grows has not been well elucidated. Technical progress is really based on three separate aspects: tools, or embodied knowledge, recipes or blueprints or codified knowledge and know-how or tacit knowledge. While tools can be shipped and codes can be e-mailed, know-how exists only as a particular wiring of the brain and as such it is hard to move around. That is why the growth of know-how can easily become the binding constraint on the development process.Link

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Why is Chiapas Poor?

Why is Chiapas Poor? Ricardo Hausmann, March 2016, Paper, “No matter which way you look at it, Chiapas is the most backward of any state in Mexico. Its per capita income is the lowest of the 32 federal entities, at barely 40% of the national median (Figure 1). Its growth rate for the decade 2003-2013 was also the lowest (0.2%), causing the income gap separating Chiapas from the national average to increase from 53% to 60%. That is to say that today the average income for a worker in Mexico is two and a half times greater than the average in Chiapas.Link

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It Could be Too Late to Avoid Catastrophe in Venezuela

It Could be Too Late to Avoid Catastrophe in Venezuela. Ricardo Hausmann, February 3, 2016, Opinion. “As markets brace themselves for the negative effects of the decline in oil prices, Venezuela will probably be the first big domino to fall. Domestically, the most likely scenario is an imminent economic collapse and a humanitarian crisis. Internationally, it will imply the largest and messiest emerging market sovereign default since the Argentine crisis of 2001. The situation is made worse by the inability of the political system, at present, to address the situation.Link

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Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis

Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis December 2015. GrowthPolicy staff member Devjani Roy interviewed Harvard Kennedy School Professor Ricardo Hausmann, focusing on three key questions motivating the GrowthPolicy website. Below is an edited version of Professor Hausmann’s comments. Click here for more interviews like this one. What are the challenges […]

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The Import of Exports

The Import of Exports. Ricardo Hausmann, November 26, 2015, Opinion. “Should a country’s development strategy pay special attention to exports? After all, exports have nothing to do with satisfying their people’s basic needs, such as education, health care, housing, power, water, telecoms, security, the rule of law, and recreation. So why give precedence to satisfying the needs of distant foreign consumers? That, in a nutshell, is what many opponents of free trade and economic globalization – as well as many on the right who believe that all industries should be treated equally – want to know. But there are no right answers to wrong questions…Link

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