In this paper we study the implications of general-purpose technological growth for asset prices. The model features two types of shocks: "small", frequent, and disembodied shocks to productivity and "large" technological innovations, which are embodied into new vintages of the capital stock....

We investigate the role of factor-priced-induced innovation in mediating the employment impact of expanding production in China. Our empirical approach implements concepts developed in Acemoglu (2010) and complements the approaches summarized by Wei, Xie, and Zhang (2017) that focus on directly...

Covers -- Editorial advisory board -- Guest editorial -- Economic impacts of commercializing insect-resistant GM maize in China -- The value of a novel biotechnology -- Scientists' attitudes toward agricultural GM technology development and GM food in China -- Attitudes toward GM...