This paper assess the sources of technological progress that determined GDP and labor productivity growth across a group of leading Pacific economies - Australia, Japan, South Korea, and the U.S. - during the period 1980-2006. We consider three alternative sources of technological progress:...

I present a theoretical model where the economy endogenously adopts the technological ideas of a slowly evolving technological frontier, and show that the presence of a "technological gap" between unadopted ideas and current productivity can lead to multiple equilibria and therefore the...

Shocks to investment-specific technology have been identified as a main source of U.S. aggregate output volatility. In this paper we assess the contribution of these shocks to the volatility of labor market variables, namely, unemployment, vacancies, tightness and the job-finding rate. Thus, our...