We consider a real business cycle model with a productive externality and an aggregate non-convex technology set a la Benhabib and Farmer embodying capacity utilization, which exhibits indeterminacy of the steady state and multiplicity of deterministic equilibria under plausible values of the...

This paper documents the disciplinary exchanges between economists and engineers at Stanford throughout the 20th century. We elucidate how this cross-fertilization was mediated by the institutional structure of the university. We outline the role of key scholars such as Kenneth Arrow and Robert...

In a 1957 paper, Robert Solow exploited the mathematical properties of the aggregate production function to isolate the role of disembodied “technical change” in economic growth. Solow's method allowed to disentangle the role of technical change from that of production factors, with the...