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INSTITUTIONS AS THE FUNDAMENTAL CAUSE OF LONG-RUN GROWTH

Acemoglu, Daron; Johnson, Simon; Robinson, James - UNIVERSIDAD DE LOS ANDES-CEDE - 2004

This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empirical importance of institutions by focusing on wo quasi-natural experiments" in history, the division of...

Persistent link: https://www.econbiz.de/10005249808

Cascades in Networks and Aggregate Volatility

Acemoglu, Daron - 2010

the supply network determine both whether aggregate volatility disappears as the number of sectors increases (i …-output relations) and aggregate volatility, and more importantly, the relationship between higher-order interconnections and aggregate … volatility. These higher-order interconnections capture the cascade effects, whereby low productivity or the failure of a set of …

Persistent link: https://www.econbiz.de/10013136361

Robust Comparative Statics in Large Dynamic Economies

Acemoglu, Daron - 2012

We consider infinite horizon economies populated by a continuum of agents who are subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Huggett, and models of entry, exit and...

Persistent link: https://www.econbiz.de/10013104728

Social Mobility and Stability of Democracy : Re-Evaluating De Tocqueville

Acemoglu, Daron - 2016

An influential thesis often associated with De Tocqueville views social mobility as a bulwark of democracy: when members of a social group expect to join the ranks of other social groups in the near future, they should have less reason to exclude these other groups from the political process. In...

Persistent link: https://www.econbiz.de/10012994372

Firms, Failures, and Fluctuations : The Macroeconomics of Supply Chain Disruptions

Acemoglu, Daron; Tahbaz-Salehi, Alireza - 2022

This paper studies how firm failures and the resulting disruptions to supply chains can amplify negative shocks. We develop a non-competitive model where customized supplier-customer relations increase productivity, and the relationship-specific surplus generated between firms and their...

Persistent link: https://www.econbiz.de/10013291552

The Network Origins of Large Economic Downturns

Acemoglu, Daron - 2013

volatility is not necessarily a sufficient statistic for the likelihood of large downturns. Rather, depending on the shape of the …

Persistent link: https://www.econbiz.de/10013078828

Finding Eldorado : Slavery and Long-Run Development in Colombia

Acemoglu, Daron - 2012

Slavery has been a major institution of labor coercion throughout history. Colonial societies used slavery intensively across the Americas, and slavery remained prevalent in most countries after independence from the European powers. We investigate the impact of slavery on long-run development...

Persistent link: https://www.econbiz.de/10013104727

The Rise of Europe : Atlantic Trade, Institutional Change and Economic Growth

Acemoglu, Daron; Johnson, Simon; Robinson, James A. - 2021

This paper documents that the Rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of European nations with access to the Atlantic, and especially by those nations that engaged in colonialism and long distance oceanic trade. Moreover, Atlantic ports grew much...

Persistent link: https://www.econbiz.de/10013246977

Import Competition and the Great U.S. Employment Sag of the 2000s

Acemoglu, Daron - 2014

Even before the Great Recession, U.S. employment growth was unimpressive. Between 2000 and 2007, the economy gave back the considerable gains in employment rates it had achieved during the 1990s, with major contractions in manufacturing employment being a prime contributor to the slump. The U.S....

Persistent link: https://www.econbiz.de/10013048616

Return of the Solow Paradox? It, Productivity, and Employment in U.S. Manufacturing

Acemoglu, Daron - 2014

An increasingly influential "technological-discontinuity" paradigm suggests that IT-induced technological changes are rapidly raising productivity while making workers redundant. This paper explores the evidence for this view among the IT-using U.S. manufacturing industries. There is some...

Persistent link: https://www.econbiz.de/10013060261