U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules out explanations … intensively, consistent with a return to normal productivity growth after nearly a decade of exceptional IT-fueled gains. A … calibrated growth model suggests trend productivity growth has returned close to its 1973-1995 pace. Slower underlying …

A two-sector real business cycle model, estimated with postwar U.S. data, identifies shocks to the levels and growth … rates of total factor productivity in distinct consumption- and investment-goods-producing technologies. This model … attributes most of the productivity slowdown of the 1970s to the consumption-goods sector; it suggests that a slowdown in the …

This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which … point to large and persistent swings in productivity, both favorable and adverse, originating in the US but not transmitted …

We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ … complexity and productivity, and technological sophistication is complementary to worker ability. We study the co …-determination of growth and income inequality in both the closed and open economy, as well as the spillover effects of policy and …

productivity gap" suggests that labor is greatly misallocated across sectors. In this paper, we draw on new micro evidence to ask …

-producing sectors has fallen. Using a dynamic general equilibrium model, we find that rapid productivity growth in goods production, not …

the famous Encyclopédie in mid-18th century France. We show that subscriber density is a strong predictor of city growth … in the cross-section, but they do not predict growth. Finally, by joining data on British patents with a large French … firm survey from the 1840s, we shed light on the mechanism: upper-tail knowledge raised productivity in innovative …

growth, and find that it has a robust negative effect on GDP growth. This link coexists with the negative link between … variance and growth typically found in the literature. To explain the link between crises and growth we present a model where … contract enforce-ability problems generate borrowing constraints and impede growth. In the set of financially liberalized …

This paper constructs a model of non-balanced economic growth. The main economic force is the combination of … models, non-balanced growth is shown to be consistent with an asymptotic equilibrium with constant interest rate and capital … consistent with US data. In particular, the model generates more rapid growth of employment in less capital-intensive sectors …

The aggregate neoclassical growth model - with means-tested subsidies whose replacement rates began rising at the end …