We present a model of investment hangover motivated by the Great Recession. In our model, overbuilding of residential … economy enters a liquidity trap with limited reallocation and low output. The drop in output reduces nonresidential investment … through a mechanism similar to the acceleration principle of investment. The burst in nonresidential investment is followed by …

While India is distinctive among developing countries for its fast-growing service sector, sceptics have raised doubts …

We compare the recent economic performances of China and India using a simple growth accounting framework that produces … roughly double that of India at the aggregate level, and also higher in each of the three sectors in both sub-periods. In …'s aggregate productivity growth. In contrast, 45 percent of the growth in India in the second sub-period came in services …

India seems to have followed an idiosyncratic pattern of development, certainly compared to other fast-growing Asian … economies. While the emphasis on services rather than manufacturing has been widely noted, within manufacturing India has … they stem from the idiosyncratic policies adopted soon after India's independence. We then look to the future, using the …

intermediate to India and the U.S. in these respects: the average 40 year old Mexican plant employs twice as many workers as an … aggregate manufacturing productivity on the order of 25% in India and Mexico relative to the U.S …