This paper develops a dynamic model of trade and growth that we use to study how openness affects economic growth. In … growth effects from openness via within-firm productivity improvements. …

We construct and estimate a model that features endogenous growth and technology diffusion. The spillover effects from … research and development provide a link between business cycle fluctuations and long-term growth. Therefore, productivity … growth is related to the state of the economy. Shocks to the marginal efficiency of investment explain the bulk of the low …

that annual income growth would rise by 1.7 percentage points. Applying our estimates to a distribution of "business as … usual" climate change projections indicates that warmer daily temperatures will lower annual growth by 0.06-0.16 percentage …

Emerging markets exhibit high returns to capital, the ‘Lucas Paradox,’ alongside volatile growth rate regimes. We … investigate the role of long-run risks, i.e., risk due to fluctuations in economic growth rates, in leading to return … differentials across countries. We take the perspective of a US investor and outline an empirical strategy to identify risky growth …

production; the main drivers of growth in endogenous growth models. This paper constructs a measure of health … the quantity and quality of schooling, innovations and growth. …