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"Through their influence on the cross-sectional distribution of productivity across firms and workers, job creation and destruction likely have an impact on the rate at which aggregate productivity changes over time. However, the nature of this effect is not, a priori, clear. While a broad...
Persistent link: https://www.econbiz.de/10003026876
This paper explores the effect of mortalities from the 1918-1919 influenza pandemic and World War I on real wage growth in the manufacturing sectors of U.S. states from 1914 to 1919. The general hypothesis is that both events caused a significant decrease in the supply of manufacturing labor,...
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Address before the Evansville Rotary Club, Evansville, Ind., March. 30, 2004
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Address before the Evansville Rotary Club, Evansville, Ind., March. 30, 2004
Persistent link: https://www.econbiz.de/10011185045
We develop a model in which innovations in an economy's growth potential are an important driving force of the business cycle. The frame- work shares the emphasis of the recent “new shock” literature on revisions of beliefs about the future as a source of fluctuations, but differs by tieing...
Persistent link: https://www.econbiz.de/10011027313
I develop a multicountry-model in which economic growth is driven mainly by domestic innovation and the adoption of … foreign technologies embodied in traded intermediate goods. Fitting the model to data on innovation, output per capita, and … trade in varieties for the period 1996-2007, I estimate the costs of both domestic innovation and adopting foreign …
Persistent link: https://www.econbiz.de/10011027325