We construct an endogenous growth model that includes a cultural variable along the dimension of individualism-collectivism. The model predicts that more individualism leads to more innovation because of the social rewards associated with innovation in an individualist culture. This cultural...

Incomes per capita have grown dramatically over the past two centuries, but the increase has been unevenly spread across time and across the world. Growth accounting is the principal quantitative tool for understanding this phenomenon, and for assessing the prospects for further increases in...

This paper examines the potential impact of artificial intelligence (A.I.) on economic growth. We model A.I. as the latest form of automation, a broader process dating back more than 200 years. Electricity, internal combustion engines, and semiconductors facilitated automation in the last...

This paper uses data for nineteen industrial countries over the period 1960-1985 to examine the evidence for international convergence of technical progress. Several models of convergence, including a model in which convergence is affected by changes in a country's openness to trade, are...

This paper presents empirical evidence against the standard dichotomy in macroeconomics that separates growth from the volatility of economic fluctuations. In a sample of 92 countries as well as a sample of OECD countries, we find that countries with higher volatility have lower growth. The...

Using data from the United Nations Comparison Project and the Penn World Table, we find that machinery and equipment investment has a strong association with growth: over l9&)?l95 each percent of GDP invested in equipment is associated with an increase in GDP growth of 1/3 a percentage point per...

Growth accounting breaks down economic growth into components associated with changes in factor inputs and the Solow residual, which reflects technological progress and other elements. This exercise is generally viewed as a preliminary step for the analysis of fundamental determinants of growth...

This paper studies a growth model that is able to match several key facts of economic history. For thousands of years, the average standard of living seems to have risen very little, despite increases in the level of technology and large increases in the level of the population. Then, after...