Crowding-out during the British Industrial Revolution has long been one of the leading explanations for slow growth …, and that the magnitude of the effect is important enough to explain at least partly why British growth during the period …

growth stocks, and the failure of the capital asset pricing model to explain these expected returns. To model the difference … between value and growth stocks, we introduce a cross-section of long-lived firms distinguished by the timing of their cash …, but that shocks to the time-varying price of risk are not. As long-horizon equity, growth stocks co-vary more with this …

been conducive to economic growth and job creation. Our empirical analysis links the stage of the transition towards an … entrepreneurial economy to the growth rates of European countries over a recent period. We find that those countries that have … introduced a greater element of entrepreneurship have been rewarded with additional growth. …

-differenced GMM in our estimation of an empirical growth model. …-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since …

This paper is a reflective survey of past and recent econometric work on the growth of firms. Most of this work … suggests that firm size follows a random walk; i.e. that corporate growth rates are random. The survey documents this, and … used to explain corporate growth rates but which are basically inconsistent with the data. The survey also discusses …

's growth, on human capital accumulation, and on welfare, along the transition path. We introduce symmetric productivity shocks … identify configurations of disturbances and other parameters for which a countercyclical policy maximizes growth and welfare. …

Analyzing a variety of cross-national and sub-national data, we argue that high adult mortality reduces economic growth … almost all of Africa's growth tragedy. Our analysis also underscores grim forecasts of the long-run economic costs of the …

. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …