. There is a growth externality in the tradable sector and agents have imperfect access to international financial markets. By … the tradable sector that boosts growth. Financial frictions generate imperfect substitutability between private and public … provide liquidity during crises amplifies the positive impact of reserve accumulation on growth. We use the model to compare …

with weak productivity growth. We study a two-sector, tradable and non-tradable, small open economy. The tradable sector is … the engine of growth, and productivity growth is increasing in the amount of labor employed by firms in the tradable … stagnant productivity growth. We show that capital controls can be welfare-enhancing and can be used as a second best policy …

How big a boost to long run growth can countries expect from the ICT revolution? I use the results of growth accounting … and the insights from a two-sector growth model to answer this question. The use of a two-sector rather than a one … expected to fall in the future. According to the two-sector model, the main boost to growth comes from ICT use, not ICT …

This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics …

This paper studies cross-country patterns of economic growth from the viewpoint of income distribution dynamics. Such a … perspective raises new empirical and theoretical issues in growth analysis: the profound empirical regularity is an \emerging twin … factor inputs and technology for growth …

capital accumulation and TFP growth reflect convergence along two margins. One margin (between industry) is a massive …

neoclassical growth model. The short-run revenue loss after an income tax cut is partly - or, depending on parameter values, even … completely - offset by growth in the long-run, due to the resulting incentives to further accumulate capital. We study how the …