We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different …

leaders and followers innovating in few industries with low aggregate growth …

This paper presents a multisector growth model where education enhances general human capital, which is essential for … trade, can affect growth positively in the long run by raising workers’ ability to adapt and move easily to industries with …, multiple equilibrium growth paths can exist, including a poverty trap. If the ratio is not substantially low, trade …

-sector model of endogenous growth. It is shown that in general the growth rate is reduced by taxes on capital and labor (human …

This paper studies the effects that the inability of individuals to borrow against future income has on economic growth … shown that liquidity constraints reduce growth. Further, in the presence of externalities that may induce two equilibria, it … is shown that liquidity constraints not only reduce the rate of growth in the high-growth equilibrium, but can also make …

such immigration on growth and incomes. In the context of a two-country endogenous growth model with heterogeneous agents … because of differences in income tax rates or technology, can bring about a reduction in the steady state growth rate of the … country of emigration. Additionally, permanent difference in the growth rates as well as incomes between the two countries can …

This paper addresses the growth, welfare, and distributional effects of credit markets. We construct a general … equilibrium model where human capital is the engine of growth and individuals differ in their education abilities. We argue that … receive formal education. This specialization unambiguously increases growth and welfare. The model also shows that in …

multiple times higher than in traditional NK models. The main reason is that endogenous growth and DWR generate asymmetric and …

We build a two-country currency union DSGE model with endogenous growth to assess the role of cross-country differences … in product and labor market regulations for long-term growth and for the adjustment to shocks. We show that with … endogenous growth, there is no reason to expect real income convergence. Large shocks, through endogenous TFP movements, can lead …