Robert J. Barro

Rules, discretion and reputation in a model of monetary policy

Economic Growth in a Cross Section of Countries

In neoclassical growth models with diminishing returns to capital, a country's per capita growth rate tends to be inversely related to its initial level of income per person.Thi...

A Positive Theory of Monetary Policy in a Natural Rate Model

A discretionary policymaker can create surprise inflation, which may reduce employment and raise government revenue. But when people understand the policymaker's objectives, the...

Convergence

A key economic issue is whether poor countries or regions tend to grow faster than rich ones: are there automatic forces that lead to convergence over time in the levels of per ...

International comparisons of educational attainment