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New media, firms, ideas, and growth: European cities after Gutenberg

Dittmar, Jeremiah - London School of Economics (LSE) - 2013

Gutenberg's printing press was the great revolution in Renaissance information technology. This paper presents new evidence on media markets, knowledge transmission, and city growth across Europe 1450-1600. The paper construct- s comprehensive firm-level panel data on the number and subjects of...

Persistent link: https://www.econbiz.de/10010745227

Business fluctuations in Imperial Austria's regions, 1867-1913: new evidence

Ciccarelli, Carlo; Missiaia, Anna - London School of Economics (LSE) - 2014

This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria … from the origin of the Dual Monarchy (1867) to the eve of WWI (1913). The time paths of regional GDP are estimated from the … (2007) estimates of regional GDP for census years (1870, 1880, 1890, 1900, and 1910). The relative continuity or …

Persistent link: https://www.econbiz.de/10011125886

Has the growth of real GDP in the UK been overstated because of mis-measurement of banking output?

Oulton, Nicholas - London School of Economics (LSE) - 2013

If official figures overstated the growth of banking output in the UK in the recent boom, does this mean that GDP … other industry or industries must have been understated, leaving GDP relatively unaffected. The reason is that the Office … for National Statistics measures the real growth of GDP primarily from the expenditure side. And from the expenditure side …

Persistent link: https://www.econbiz.de/10010745950

Technological diversification

Koren, Miklos; Tenreyro, Silvana - London School of Economics (LSE) - 2007

Economies at early stages of development are often shaken by abrupt changes in growth rates, whereas in advanced economies growth rates tend to be relatively stable. To explain this pattern, we propose a theory of technological diversification. Production makes use of different input varieties,...

Persistent link: https://www.econbiz.de/10010928680

Long term implications of the ICT revolution: applying the lessons of growth theory and growth accounting

Oulton, Nicholas - London School of Economics (LSE) - 2010

relative price of ICT products boosts the growth of GDP and consumption by inducing faster accumulation of ICT capital. I …

Persistent link: https://www.econbiz.de/10010884516

Ex post versus ex ante measures of the user cost of capital

Oulton, Nicholas - London School of Economics (LSE) - 2005

When doing growth accounting, should we use ex post or ex ante measures of user costs to calculate the contribution of capital? The answer, based on a simple model of temporary equilibrium, is that ex post is better in theory. In practice researchers usually calculate ex post user costs by...

Persistent link: https://www.econbiz.de/10010745052

Jeremy Greenwood and Per Krusell, "growth accounting with investment-specific technological progress: a discussion of two approaches" a rejoinder

Oulton, Nicholas - London School of Economics (LSE) - 2007

The May 2007 issue of the Journal of Monetary Economics published a paper of mine entitled ‘Investment-Specific Technological Progress and Growth Accounting’ which critiqued the work of Greenwood, Hercowitz and Krusell. I argued that the Greenwood-Hercowitz-Krusell (GHK) model is a special...

Persistent link: https://www.econbiz.de/10010745181

Mapping prices into productivity in multisector growth models

Ngai, L. Rachel; Samaniego, Roberto M. - London School of Economics (LSE) - 2008

Two issues related to mapping a multi-sector model into a reduced-form value-added model are often neglected: the composition of intermediate goods, and the distinction between value added productivity and gross output productivity. We demonstrate their quantitative significance for the case of...

Persistent link: https://www.econbiz.de/10010745978

A statistical framework for the analysis of productivity and sustainable development

Oulton, Nicholas - London School of Economics (LSE) - 2004

To analyse the consequences of the changing economic structure of the UK, we need a set of statistics broken down by industry that are consistent with the whole economy measures available from the national accounts. The theory of growth accounting then provides a framework in which the...

Persistent link: https://www.econbiz.de/10010746112

Overcoming the zero bound on nominal interest rates with negative interest on currency : Gesell's solution

Buiter, Willem H. - London School of Economics (LSE) - 2003

An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A necessary condition for this is that the short nominal interest rate is constrained by its lower bound, typically zero. The paper considers two small analytical models, one...

Persistent link: https://www.econbiz.de/10010745321