and inequality effects. I show theoretically that even when AI improves the productivity of low-skill workers in certain … tasks (without creating new tasks for them), this may increase rather than reduce inequality. Empirically, I find that AI … advances are unlikely to increase inequality as much as previous automation technologies because their impact is more equally …

How did Britain sustain faster rates of economic growth than comparable European countries, such as France, during the … quantify the implications for technology growth rates in Britain compared to France. Our results indicate that the shape of the … change and industrial growth in Britain during the Industrial Revolution …

In this paper we study the implications of general-purpose technological growth for asset prices. The model features … leads to cycles in asset valuations and risk premia as firms convert the growth options associated with the new technologies …

A satisfactory account of the postwar growth experience of the United States should be able to come to terms with the …

We present a model of growth and technology transfer based on the idea that technologies are specific to particular …-run convergence and growth, than either the standard neoclassical model or simple endogenous-growth models …

We study how opening to trade affects economic growth in a model where heterogeneous firms can choose to adopt a new … technology already in use by other firms. We characterize the growth rate using summary statistics of the profit distribution … increased export opportunities and foreign competition, induces more rapid technology adoption, and generates faster growth …

meet numerous macroeconomic regularities. First, it can produce a balanced growth path and satisfy the Uzawa Growth Theorem … features of economic growth …