This paper asserts that the accumulation of capital causes cross-country differences in GDP per capita by generating disparities in the sectoral structure. For that purpose, we characterize the dynamic equilibrium of an endogenous growth that exhibits sectoral change due to the introduction of...

This paper contributes to the literature on both embodied technical progress and firm dynamics, by formulating an endogenous growth model where selection and imitation play a fundamental role in helping capital good producers to learn about the productivity of technologies embodied in new...

version: September 2011<br><br>This paper is intended to answer why and how innovation activities promoting economic growth may indeed induce economic fluctuations. To this purpose, it adds an adoption lag to an otherwise standard endogenous growth model with expanding product variety. It shows that the...

We analyze recent contributions to growth theory based on the model of expanding variety of Romer (1990). In the first part, we present different versions of the benchmark linear model with imperfect competition. These include the "lab equipment" model, "labor-for-intermediates" and "directed...

Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophistication of the vintage models. This paper analyzes the astonishing revival of this literature in the...

The availability of rich rm-level data sets has recently led researchers to uncover new evidence on the eects of trade liberalization. First, trade openness forces the least productive firmto exit the market. Secondly, it induces surviving firms to increase their innovation efforts and thirdly,...

We survey a number of papers that have focused on the construction of cross-country data sets on average years of schooling. We discuss the construction of the different series, compare their profiles and construct indicators of their information content. The discussion focuses on a sample of...

This paper analyzes the effect of immigration on wages taking into account human capital and labor supply adjustments. Using U.S. micro-data for 1967-2007, I estimate a labor market equilibrium model that includes endogenous decisions on education, participation, and occupation, and allows for...