Comin, Diego; Mulani, Sunil - In: Journal of Monetary Economics 56 (2009) 8, pp. 1023-1042
We present an endogenous growth model that explains the evolution of the first and second moments of productivity growth at the aggregate and firm level during the post-war period. Growth is driven by the development of both (i) idiosyncratic R&D innovations and (ii) general innovations that can...