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Moonshot : Public R&D and Growth

Kantor, Shawn Everett; Whalley, Alexander T. - National Bureau of Economic Research - 2023

We estimate the long-term effect of public R&D on growth in manufacturing by analyzing new data from the Cold War era Space Race. We develop a novel empirical strategy that leverages US-Soviet rivalry in space technology to isolate windfall R&D spending. Our results demonstrate that public R&D...

Persistent link: https://www.econbiz.de/10014322858

Railroads, Reallocation, and the Rise of American Manufacturing

Hornbeck, Richard - 2019

We examine impacts of market integration on the development of American manufacturing, as railroads expanded through the latter half of the 19th century. Using new county-by-industry data from the Census of Manufactures, we estimate substantial impacts on manufacturing productivity from relative...

Persistent link: https://www.econbiz.de/10012480538

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets

Mitchener, Kris James - 2010

This paper examines the relationship between the structure of banking markets and economic growth using a new dataset on manufacturing industry-level growth rates and banking market concentration for U.S. states during 1899-1929--a period when the manufacturing sector was expanding rapidly and...

Persistent link: https://www.econbiz.de/10012462942

Economic Growth in a Cross-Section of Cities

Glaeser, Edward L. - 1995

We examine the relationship between urban characteristics in 1960 and urban growth (income and population) between 1960 and 1990. Our major findings are that income and population growth move together and both types of growth are (1) positively related to initial schooling, (2) negatively...

Persistent link: https://www.econbiz.de/10012473880

Regional Growth and Migration : A Japan-U.S. Comparison

Barro, Robert J. - 1992

Do poor economies grow faster than rich ones? This important economic question (which we call [beta]-convergence) is … of convergence in both countries: poor prefectures and states grow faster. We also find that there is intraregional as … well as interregional convergence. We analyze the cross sectional standard deviation across prefectures and states. We find …

Persistent link: https://www.econbiz.de/10012474942

Self-Employment Within the Firm

Bassi, Vittorio; Lee, Jay; Peter, Alessandra; Porzio, … - National Bureau of Economic Research - 2023

We collect time-use data for entrepreneurs and their workers in over 1,000 manufacturing firms in urban Uganda. We document limited labor specialization within the firm for establishments of all sizes and argue that this is likely due to the prevalence of product customization. We then develop a...

Persistent link: https://www.econbiz.de/10014372497

The Aggregate Importance of Intermediate Input Substitutability

Peter, Alessandra; Ruane, Cian - National Bureau of Economic Research - 2023

We estimate long-run elasticities of substitution between intermediate inputs for Indian manufacturing plants. India's trade liberalization in the early 1990s provides an ideal natural policy experiment, with permanent and heterogeneous tariff reductions inducing changes in relative prices which...

Persistent link: https://www.econbiz.de/10014287334

Government Debt and Capital Accumulation in an Era of Low Interest Rates

Mankiw, Nicholas Gregory - National Bureau of Economic Research - 2022

This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...

Persistent link: https://www.econbiz.de/10013210052

Latent Heterogeneity in the Marginal Propensity to Consume

Lewis, Daniel J.; Melcangi, Davide; Pilossoph, Laura - National Bureau of Economic Research - 2024

We estimate the unconditional distribution of the marginal propensity to consume (MPC) using clustering regression applied to the 2008 economic stimulus payments. By deviating from the standard approach of estimating MPC heterogeneity using interactions with observables, we can recover the full...

Persistent link: https://www.econbiz.de/10014544800

Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier

Choi, Joonkyu; Penciakova, Veronika; Saffie, Felipe - National Bureau of Economic Research - 2024

We study the role of firms' political influence on the effectiveness of government spending using ARRA as a laboratory. Through an IV approach, we show that a 10 percentage points increase in the share of politically connected spending lowers the job creation effect of stimulus by 33 percent at...

Persistent link: https://www.econbiz.de/10014576603