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Macroeconomic Convergence : International Transmission of Growth and Technical Progress
Helliwell, John F. - 2009
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...
Persistent link: https://www.econbiz.de/10012767097
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The Great Escape : A Review Essay on Fogel'S 'The Escape from Hunger and Premature Death, 1700-2100'
Deaton, Angus - 2021
In this essay, I review Robert Fogel's The Escape from Hunger and Premature Death, 1700-2100 which is concerned with the past, present, and future of human health. Fogel's work places great emphasis on nutrition, not only for the history of health, but for explaining aspects of current health,...
Persistent link: https://www.econbiz.de/10013313332
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The Rise and Decline of General Laws of Capitalism
Acemoglu, Daron; Robinson, James A. - 2014
Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...
Persistent link: https://www.econbiz.de/10013039764
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Solow vs. Solow : Machine Prices and Development
Jovanovic, Boyan; Rob, Rafael - 2022
Machines are more expensive in poor countries, and the relation is pronounced. It is hard for a Solow (1956) type of model to explain the relation between machine prices and GDP given that in most countries equipment investment is under 10% of GDP. A stronger relation emerges in a Solow (1959)...
Persistent link: https://www.econbiz.de/10013292578
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The Environment and Directed Technical Change
Acemoglu, Daron - 2010
This paper introduces endogenous and directed technical change in a growth model with environmental constraints and limited resources. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation....
Persistent link: https://www.econbiz.de/10013150439
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Malthus to Solow
Hansen, Gary D.; Prescott, Edward C. - 2021
A unified growth theory is developed that accounts for the roughly constant living standards displayed by world …
Persistent link: https://www.econbiz.de/10013236690
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Technology Adoption and Growth
Parente, Stephen L.; Prescott, Edward C. - 2021
Technology change is modeled as the result of decisions of individuals and groups of individuals to adopt more advanced technologies. The structure is calibrated to the U.S. and postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective...
Persistent link: https://www.econbiz.de/10013240329
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Population, Technology, and Growth : from the Malthusian Regime to the Demographic Transition and Beyond
Galor, Oded; Weil, David N. - 2021
This paper develops a unified model of growth, population, and technological progress that is consistent with long-term historical evidence. The economy endogenously evolves through three phases. In the Malthusian regime, population growth is positively related to the level of income per capita....
Persistent link: https://www.econbiz.de/10013247642
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Capital Deepening and Non-Balanced Economic Growth
Acemoglu, Daron - 2010
This paper constructs a model of non-balanced economic growth. The main economic force is the combination of differences in factor proportions and capital deepening. Capital deepening tends to increase the relative output of the sector with a greater capital share, but simultaneously induces a...
Persistent link: https://www.econbiz.de/10012760696
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Distance to Frontier, Selection, and Economic Growth
Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - 2021
We analyze an economy where managers engage both in the adaptation of technologies from the world frontier and in … investments, but little selection. Closer to the world technology frontier, there is a switch to innovation-based strategy with …. However, societies that cannot switch out of the investment-based strategy fail to converge to the world technology frontier …
Persistent link: https://www.econbiz.de/10013233846