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Technological Diffusion, Convergence, and Growth
Barro, Robert J. - 1995
We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run, the world growth rate is driven by discoveries in the technologically leading economies. Followers converge toward the leaders because copying is...
Persistent link: https://www.econbiz.de/10012473731
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A CES Indirect Production Function
Jovanovic, Boyan - 1995
form. This is not a contribution to the theory of aggregation generally. Instead it is a microfoundation for a specific but … theory, the utility function when there is household production, human capital theory, and the concept of the aggregate …
Persistent link: https://www.econbiz.de/10012473588
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Measuring the Gains from Trade under Monopolistic Competition
Feenstra, Robert C. - 2009
Three sources of gains from trade under monopolistic competition are: (i) new import varieties available to consumers; (ii) enhanced efficiency as more productive firms begin exporting and less productive firms exit; (iii) reduced markups charged by firms due to import competition. The first...
Persistent link: https://www.econbiz.de/10012463056
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Optimal Choice of Product Scope for Multiproduct Firms under Monopolistic Competition
Feenstra, Robert - 2007
In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...
Persistent link: https://www.econbiz.de/10012464943
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Is the Electricity Sector a Weak Link in Development?
Colmer, Jonathan; Lagakos, David; Shu, Martin - National Bureau of Economic Research - 2024
This paper asks whether increasing productivity in the electricity sector can yield larger long-run GDP gains than suggested by electricity's small share of aggregate economic activity. We answer this question using a dynamic multi-sector model in which electricity is a strong complement to...
Persistent link: https://www.econbiz.de/10014468241
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Sectoral Development Multipliers
Buera, Francisco; Trachter, Nicholas - National Bureau of Economic Research - 2024
How should industrial policies be directed to reduce distortions and foster economic development? We study this question in a multi-sector model with technology adoption, where the production of goods and modern technologies features rich network structures. We provide simple formulas for the...
Persistent link: https://www.econbiz.de/10014512084
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Greed? Profits, Inflation, and Aggregate Demand
Bilbiie, Florin Ovidiu; Känzig, Diego R. - National Bureau of Economic Research - 2023
Amidst the recent resurgence of inflation, this paper investigates the interplay of corporate profits and income … distribution in shaping inflation and aggregate demand within the New Keynesian framework. We derive a novel analytical condition …-demand fluctuations and inflation to be amplified by heterogeneity, profits have to be countercyclical--an implication that is at odds …
Persistent link: https://www.econbiz.de/10014337850
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International Trade and Per Capita Income Convergence : A Difference-in-Differences Analysis
Slaughter, Matthew J. - 1998
In this paper I analyze whether international trade contributes to per capita income convergence across countries. The analysis focuses on four important post-1945 multilateral trade liberalizations. To identify trade's effect on income dispersion, in each case I use a difference-in-differences'...
Persistent link: https://www.econbiz.de/10012472251
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Global Income Divergence, Trade and Industrializatiion : The Geography of Growth Take-Offs
Baldwin, Richard E. - 1998
This paper takes a step towards formalizing the theoretical interconnections among four post-Industrial Revolution phenomena - the industrialization and growth take-off of rich northern' nations, massive global income divergence, and rapid trade expansion. Specifically, we present a...
Persistent link: https://www.econbiz.de/10012472347
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Free Trade, Growth, and Convergence
Ben-David, Dan - 1997
What is the impact on output of movement towards free trade? Can trade liberalization have a permanent effect on output levels, and more importantly, does it have an impact on steady-state growth rates? The model developed here emphasizes the role" that knowledge spillovers emanating from...
Persistent link: https://www.econbiz.de/10012472719