Existing growth research provides little explanation for the very large differences in long-run growth performance … across OECD countries. We show that cognitive skills can account for growth differences within the OECD, whereas a range of … economic institutions and quantitative measures of tertiary education cannot. Under the growth model estimates and plausible …

source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth … and growth developed by Klette and Kortum (2004). The data set is a panel of Danish firms than includes information on … implications for the aggregate growth rate and the contribution of worker reallocation to it. …

The apparently unrelenting growth in the GDP-share of health spending (SHS) has been a perennial issue of policy … concern. Does an equilibrium limit exist? The issue has been left open in recent dynamic models which take income growth and …-capital-based endogenous-growth model, where a representative parent makes all life-cycle consumption and investment decisions and life and …

-country variations in economic growth. …

We present evidence that shocks to household consumption growth are negatively skewed, persistent, countercyclical, and … preferences and a single state variable drives the conditional cross-sectional moments of household consumption growth. The … estimated model fits well the cross-sectional moments of household consumption growth and the unconditional moments of the risk …

simple function of the aggregate consumption growth rate and the growth rate of consumption of the set of households that do … not face binding enforcement constraints. These unconstrained households have lower consumption growth rates than all … other households in the economy. We use household data on consumption growth from the U.S. Consumer Expenditure Survey to …