Epidemics have disrupted lives for centuries with deleterious human capital and economic repercussions. In this paper, we investigate how epidemics episodes have impacted school dropouts in developing countries, considering 623 epidemics episodes across countries from 1970 to 2019. Our estimates...

What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation, using registry data on the universe of firms. The...

How important is foreign knowledge for domestic innovation outcomes? How is this relation shaped by globalization and the attendant intensification of international competition? Our empirical approach extends the previous literature by analyzing a large panel comprising industries in both...

We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation. We argue that the economies that achieved high sustained growth and low market income inequality are characterized by dynamism-a drive...

We study the role of financial frictions in explaining the sharp and persistent productivity growthslowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country,firm-level data set and exploiting quasi-experimental variation in firm-level exposure to the...

We may be on the cusp of a 'second industrial revolution' based on advances in artificialintelligence and robotics. We analyze the implications for inequality and output, usinga model with two assumptions: 'robot' capital is distinct from traditional capital in itsdegree of substitutability with...

We provide an overview of the theories and empricial evidence on the complex relationship among innovation, competition, and inclusive growth. Competition and innovation-led growth are critical to drive productivity gains and support broad-based growth. However, new technologies and trends in...

Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from...

The paper explores the quality of the recent high-growth episode in sub-Saharan Africa by examining the following two questions: (i) what has been the nature and pattern of SSA growth over the past 15 years and how does it compare with previous episodes? (ii) has this growth had an impact on...