Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the …

productivity, given all available information; the cycle is thus interpreted as the total excess growth that would be forecasted … those generated by the Hodrick-Prescott filter and with the business cycle data of the OECD. The stability and predictive …

trend and cycle when the variable is integrated of order one (I (1)). This paper considers the multivariate generalization …

, incumbents' valuations of innovations are less negatively affected by increased competition than entrants' profits. This, in turn …, but not too strict, merger policy tends to increase the incentive for innovations for sale by ensuring the bidding … competition for the innovation, without reducing the total rents for innovations too much. …

This paper considers a dynamic North South model of international trade and innovations in which firms can endogenously …

an increase in either the size or the frequency of innovations, from human capital accumulation through learning … of innovations or through introducing learning by doing with positive external effects across sectors) introduces new …

This Paper presents a model of innovations and economic growth, in which patent rates emerge endogenously, as a result …-inefficient, as too many researchers look for the easy innovations, while too few search for the difficult ones. The third result is …

in the world in a few decades. Now China is returning to its historical past. To understand China’s development, and to …