In this paper we study the implications of general-purpose technological growth for asset prices. The model features … leads to cycles in asset valuations and risk premia as firms convert the growth options associated with the new technologies …

We present a model of growth and technology transfer based on the idea that technologies are specific to particular …-run convergence and growth, than either the standard neoclassical model or simple endogenous-growth models …

A satisfactory account of the postwar growth experience of the United States should be able to come to terms with the …

unleashed -- Part II. The Growth Mechanism -- Chapter 4. Hardware and software -- Chapter 5. Mechanization, automation and the … labor market -- Chapter 6. Scale of operations -- Part III. The Great Leaps -- Chapter 7. Accelerating growth in the past … -- Chapter 8. Accelerating growth in the future -- Part IV. Lessons for the Digital Era -- Chapter 9. Side effects of growth …

We study how opening to trade affects economic growth in a model where heterogeneous firms can adopt new technologies … already in use by other firms in their home country. We characterize the growth rate using a summary statistic of the profit … competition, induces more rapid technology adoption, and generates faster growth. Quantitatively, these forces produce large …

innovation is not the same innovation freely available but the unchanged generic technology. Growth is concentrated in any … innovative nation are different from those of the no-growth stationary state which we teach and fall back on. We propose an …

answer these questions, this paper develops a trade-and-growth model that captures the key features of the Industrial …

Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian … technology advances. The model predicts that technological innovation and economic growth eventually stop unless financiers …

-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous … growth'. Then we discuss the empirical evidence that bears on the modeling of long-run growth. Finally, we describe in more … detail a model of growth based on endogenous technological progress and discuss the lessons that such models can teach us …

A model is developed in which two complementary forms of investment contribute to growth—technology and skill … acquisition, and growth takes two forms—TFP and variety growth. The rate of TFP growth depends more heavily on the parameters … governing skill accumulation, while variety growth depends, roughly, on the difference between the parameters governing …