seemingly small fraction of U.S. GDP. This is not surprising in view of the fact that large economies trade less with others, and more internally. But the modest share of trade in total national income hides the fact that merchandise trade as a share of merchandise value-added is quite high for the U

primitive slow-growing economy to a developed fastgrowing one, a nation passes through a stage in which the distribution of wealth across the rich and poor widens. I.

of the individual taxpayer. Further, by reducing his disposable income, taxes reduce his savings and thus the capital stock. Internal debt has both of these effects as well as a further reduction in the capital stock arising from the substitution of government debt for physical capital in individual portfolios.

or with improved economic performance. We find trust and civic norms are stronger in nations with higher and more equal incomes, with institutions that restrain predatory actions of chief executives, and with better-educated and ethnically homogeneous populations. I.

in the region with larger demand, but the location of demand itself depends on the distribution of manufacturing. Emergence of a core-periphery pattern depends on transportation costs, economies of scale, and the share of manufacturing in national income. The study of economic geography-of the location

Abstract: We use the National Family Health Survey (NFHS) data collected in Indian states in 1992 and 1993 to estimate the relationship between household wealth and the probability a child (aged 6 to 14) is enrolled in school. A methodological difficulty to overcome is that the NFHS, modeled

both the social world and cognitive-processing mechanisms impose niters on incoming information that distort it in a positive direction; negative information may be isolated and represented in as unthreatening a manner as possible. These positive illusions may be especially useful when an individual

Abstract: We document five stylized facts of economic growth. (1) The "residual" rather than factor accumulation accounts for most of the income and growth differences across nations. (2) Income diverges over the long run. (3) Factor accumulation is persistent while growth

Attitudes toward risk were measured in 240 households using two methods: an interview method eliciting certainty equivalents and an experimental gambling approach with real payoffs which, at their maximum, exceeded monthly incomes of unskilled laborers. The interview method is subject

Preface to the 1994 Edition The previous edition, which was the first, of this National Institute of Standards and Technology (NIST) Technical Note (TN 1297) was initially published in January 1993. A second printing followed shortly thereafter, and in total some 10 000 copies were distributed