We construct an endogenous growth model that includes a cultural variable along the dimension of individualism … innovation in an individualist culture. This cultural effect may offset the negative effects of bad institutions on growth … individualism on growth through innovation. Using genetic data as instruments for culture we provide strong evidence of a causal …

I study a model where Information Technology, while typically increasing overall inequality, is likely to harm some …

source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth … and growth developed by Klette and Kortum (2004). The data set is a panel of Danish firms than includes information on … implications for the aggregate growth rate and the contribution of worker reallocation to it. -- labor productivity growth ; worker …

Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With …

policymakers' beliefs about the impact of capital account liberalization on growth, under the 'Mundell's trilemma constraint. The …

We examine the (potentially nonlinear) relationship between inequality and growth using a method which does not require …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …

happiness. For some countries their estimated growth rates of happiness and GDP are not trend rates, but those observed in … cyclical expansion or contraction. Mixing these short-term with long-term growth rates shifts a happiness-GDP regression from a …