Journal of Economic Growth
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The Sun Also Rises: Productivity Convergence Between Japan and the USA
Journal of Economic Growth - Tập 10 - Trang 387-408 - 2005
The growth process for a technological leader is different from that of a follower. While followers can grow through imitation and capital deepening, a leader must undertake original research. This suggests that as the gap between the leader and the follower narrows, the follower must undertake more genuinely innovative R&D and possibly face a slower overall growth rate. The results of a dynamic p...... hiện toàn bộ
Liquidity creation, investment, and growth
Journal of Economic Growth - Tập 28 - Trang 297-336 - 2022
Using panel analysis for a large cross-section of countries, we find that liquidity creation by banks is positively associated with economic growth at country and industry levels. Liquidity creation boosts tangible, but not intangible investment and does not contribute to growth in countries with a high share of industries reliant on intangible assets. These findings are consistent with a theoreti...... hiện toàn bộ
Women legislators and economic performance
Journal of Economic Growth - - Trang 1-64 - 2023
There has been a phenomenal global increase in the proportion of women in politics in the last two decades, but there is no evidence of how this has influenced economic performance. We investigate this using data on competitive elections to India’s state assemblies, leveraging close elections to isolate causal effects. We find significantly higher growth in economic activity in constituencies that...... hiện toàn bộ
Negative shocks and mass persecutions: evidence from the Black Death
Journal of Economic Growth - Tập 24 Số 4 - Trang 345-395 - 2019
We study the Black Death pogroms to shed light on the factors determining when a minority group will face persecution. Negative shocks increase the likelihood that minorities are persecuted. But, as shocks become more severe, the persecution probability decreases if there are economic complementarities between majority and minority groups. The effects of shocks on persecutions are thus ambiguous. ...... hiện toàn bộ
The United States as a Coastal Nation
Journal of Economic Growth - Tập 8 - Trang 5-46 - 2003
US economic activity is overwhelmingly concentrated at its ocean and Great Lakes coasts, reflecting a large contribution from coastal proximity to productivity and quality of life. Extensively controlling for correlated natural attributes and initial conditions decisively rejects that the coastal concentration of economic activity is spurious or just derives from historical forces long since dissi...... hiện toàn bộ
Wealth Breeds Decline: Reversals of Leadership and Consumption Habits
Journal of Economic Growth - Tập 9 Số 4 - Trang 423-449 - 2004
The Skill Premium, Technological Change and Appropriability
Journal of Economic Growth - Tập 7 - Trang 137-156 - 2002
This paper demonstrates that an increase in the relative supply of educated workers generates a structural change in the production structure towards a knowledge-intensive production process. This structural shift may ultimately lead to an increase in the return to educated labor despite the increase in their supply. The paper argues that the steady increase in the supply of educated workers that ...... hiện toàn bộ
Effects of blocking patents on R&D: a quantitative DGE analysis
Journal of Economic Growth - Tập 14 - Trang 55-78 - 2009
What are the effects of blocking patents on R&D and consumption? This paper develops a quality-ladder growth model with overlapping intellectual property rights and capital accumulation to quantitatively evaluate the effects of blocking patents. The analysis focuses on two policy variables (a) patent breadth that determines the amount of profits created by an invention and (b) the profit-sharing r...... hiện toàn bộ
Economic Distance and Cross-Country Spillovers
Journal of Economic Growth - Tập 7 - Trang 157-187 - 2002
Rates of long-run economic growth are not independent across countries. To account for this dependence we decompose the spatial covariance function of growth rates into a function of each country’s own observable characteristics, its unobservable characteristics, and cross-country spillovers. We use original data on economic distance to structure observed variation in countries’ long term growth r...... hiện toàn bộ
Imperfect information, Bayesian learning, and capital accumulation
Journal of Economic Growth - Tập 1 - Trang 487-503 - 1996
This paper examines the consequences of informational imperfections for economic growth in an overlapping generations model in which agents learn the technological parameters in a Bayesian fashion. Under mild sufficient conditions, beliefs converge to the true value of the technological parameters. Nevertheless, even short-lived informational imperfections could have lasting effects, as they alter...... hiện toàn bộ
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