"The authors develop an endogenous growth model that combines structural change with repeated product improvement. That is, the technologies in one sector of the model become not only increasingly capital-intensive, but also progressively productive over time. Application of the basic model to...

"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model that predicts that in a regime with high costs, the law fails to achieve the efficient outcome of liquidating unviable businesses and reorganizing viable ones. The authors test...

Most economies with a legacy of central planning are changing in fundamental ways. With the rapid economic, social, and political changes in these economies an update of the first edition of Historically Planned Economies (HPEs): A Guide to the Data, has become necessary. In addition to...