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Technological Diffusion, Convergence, and Growth

Barro, Robert J. - 1995

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run, the world growth rate is driven by discoveries in the technologically leading economies. Followers converge toward the leaders because copying is...

Persistent link: https://www.econbiz.de/10012473731

Measuring the Gains from Trade under Monopolistic Competition

Feenstra, Robert C. - 2009

Three sources of gains from trade under monopolistic competition are: (i) new import varieties available to consumers; (ii) enhanced efficiency as more productive firms begin exporting and less productive firms exit; (iii) reduced markups charged by firms due to import competition. The first...

Persistent link: https://www.econbiz.de/10012463056

Optimal Choice of Product Scope for Multiproduct Firms under Monopolistic Competition

Feenstra, Robert - 2007

In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...

Persistent link: https://www.econbiz.de/10012464943

Sectoral Development Multipliers

Buera, Francisco; Trachter, Nicholas - National Bureau of Economic Research - 2024

How should industrial policies be directed to reduce distortions and foster economic development? We study this question in a multi-sector model with technology adoption, where the production of goods and modern technologies features rich network structures. We provide simple formulas for the...

Persistent link: https://www.econbiz.de/10014512084

Is the Electricity Sector a Weak Link in Development?

Colmer, Jonathan; Lagakos, David; Shu, Martin - National Bureau of Economic Research - 2024

This paper asks whether increasing productivity in the electricity sector can yield larger long-run GDP gains than suggested by electricity's small share of aggregate economic activity. We answer this question using a dynamic multi-sector model in which electricity is a strong complement to...

Persistent link: https://www.econbiz.de/10014468241

Greed? Profits, Inflation, and Aggregate Demand

Bilbiie, Florin Ovidiu; Känzig, Diego R. - National Bureau of Economic Research - 2023

Amidst the recent resurgence of inflation, this paper investigates the interplay of corporate profits and income … distribution in shaping inflation and aggregate demand within the New Keynesian framework. We derive a novel analytical condition …-demand fluctuations and inflation to be amplified by heterogeneity, profits have to be countercyclical--an implication that is at odds …

Persistent link: https://www.econbiz.de/10014337850

Financial constraints and innovation : Why poor countries don't catch up

Gorodnichenko, Yuriy - 2010

This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...

Persistent link: https://www.econbiz.de/10012462858

Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan

Gilchrist, Simon - 2004

We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch-up mechanism through capital accumulation where technology is embodied in new capital goods. Using a putty-clay model of production and investment, we are able to capture many of the key...

Persistent link: https://www.econbiz.de/10012467958

Missing Aggregate Dynamics : On the Slow Convergence of Lumpy Adjustment Models

Berger, David - 2003

that the difference in the speed with which inflation responds to sectoral and aggregate shocks (Boivin et al 2009 …

Persistent link: https://www.econbiz.de/10012468799

Distance, Skill Deepening and Development : Will Peripheral Countries Ever Get Rich?

Redding, Stephen - 2003

This paper models the relationship between countries' distance from global economic activity, endogenous investments in education, and economic development. Firms in remote locations pay greater trade costs on both exports and intermediate imports, reducing the amount of value added left to...

Persistent link: https://www.econbiz.de/10012469256

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