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Labor Market Dynamics When Ideas are Harder to Find

Bilal, Adrien; Engbom, Niklas; Mongey, Simon; Violante, … - 2023

This paper evaluates the impact of slowing economic growth on labor market dynamism and misallocation. It provides a model of endogenous growth via imitation in a frictional labor market. The framework accounts for rich data on worker job-to-job transitions as well as stochastic and lifecycle...

Persistent link: https://www.econbiz.de/10014346493

Is that Really a Kuznets Curve? Turning Points for Income Inequality in China

Ravallion, Martin; Chen, Shaohua - 2023

The path of income inequality in post-reform China has been widely interpreted as “China’s Kuznets curve.” We show that the Kuznets growth model of structural transformation in a dual economy, alongside population urbanization, has little explanatory power for our new series of inequality...

Persistent link: https://www.econbiz.de/10014358039

Growing Like India : The Unequal Effects of Service-Led Growth

Fan, Tianyu; Peters, Michael; Zilibotti, Fabrizio - 2023

Structural transformation in most currently developing countries takes the form of a rapid rise in services but limited industrialization. In this paper, we propose a new methodology to structurally estimate productivity growth in service industries that circumvents the notorious difficulties in...

Persistent link: https://www.econbiz.de/10014264203

Do Borders Matter for Social Capital? Economic Growth and Civic Culture in U.S. States and Canadian Provinces

Helliwell, John F. - 2022

The paper first assesses regional and ethnic group differences in social trust and memberships in both Canada and the United States. The ethnic categories people choose to describe themselves are as important as regional differences, but much less important than education, in explaining...

Persistent link: https://www.econbiz.de/10013309215

Which Countries Have State Religions?

Barro, Robert J.; McCleary, Rachel M. - 2022

For 188 independent countries in 2000, 72 had no state religion in the years 2000, 1970, and 1900; 58 had a state religion at all three dates; and 58 had some kind of transition. Among the 58 transitional countries, 12 had two transitions, 4 of which (former Soviet Republics in Asia) involved two...

Persistent link: https://www.econbiz.de/10013309235

Monetary Policy When Potential Output is Uncertain : Understanding the Growth Gamble of the 1990s

Gorodnichenko, Yuriy; Shapiro, Matthew D. - 2022

The Fed kept interest rates low and essentially unchanged during the late 1990s despite a booming economy and record-low unemployment. These interest rates were accommodative by historical standards. Nonetheless, inflation remained low. How did the Fed succeed in sustaining rapid economic growth...

Persistent link: https://www.econbiz.de/10013309239

Economic Growth Before 1860 : Revised Conjectures

Weiss, Thomas - 2022

The current view of U.S. economic growth before 1860 is based on the conjectural estimates of output made by Paul David (1967). This paper sets forth new estimates of the farm labor force for the period 1800 to 1860 and uses them to revise those conjectures about growth of per capita output. An...

Persistent link: https://www.econbiz.de/10013309245

Political Power, Elite Control, and Long-Run Development : Evidence from Brazil

Ferraz, Claudio; Finan, Frederico S.; Martinez-Bravo, Monica - 2022

This paper analyzes how changes in the concentration of political power affect long-run development. We study Brazil’s military dictatorship whose rise to power dramatically altered the distribution of power of local political elites. We document that municipalities that were more politically...

Persistent link: https://www.econbiz.de/10013309352

From Imitation to Innovation : Where is All that Chinese R&D Going?

König, Michael D.; Song, Zheng (Michael); … - 2022

We construct an endogenous growth model with random interactions where firms are subject to distortions. The TFP distribution evolves endogenously as firms seek to upgrade their technology over time either by innovating or by imitating other firms. We use the model to quantify the effects of...

Persistent link: https://www.econbiz.de/10013309719

Real Exchange Rate Misalignments and Growth

Razin, Ofair; Collins, Susan M. - 2022

Real exchange rate (RER) misalignment is now a standard concept in international macroeconomic theory and policy. However, there is neither a consensus indicator of misalignment, nor an agreed upon methodology for constructing such an indicator. This paper constructs an indicator of RER...

Persistent link: https://www.econbiz.de/10013321576