abundant. Automating productivity growth may lead to broad-based gains in the returns to all factors. By contrast, bottlenecks … to growth from irreproducible scarce factors may exacerbate the decline in wages …

economy with uneven productivity growth, income effects, and consumption complementarity across sectoral outputs. During early …

fit with important stylized facts, we construct a two-sector optimal growth model of housing where housing is produced by … housing and housing and land prices. The model is then calibrated to fit part of the stylized facts: faster growth of housing … structure/household durables than housing, faster growth of land prices than housing prices, and downward housing price and land …

Transformative technologies like generative artificial intelligence promise to accelerate productivity growth across … optimal adoption is gradual and convex. If social damages are proportional to the productivity gains from the new technology …, a higher growth rate leads to slower optimal adoption. Equilibrium adoption is inefficient when firms do not internalize …

This paper asks whether increasing productivity in the electricity sector can yield larger long-run GDP gains than …

lowers long-run aggregate productivity by 5% in a benchmark model. Forcing all firms to apply the same cost of capital would …

Chilean encaje, the model yields higher aggregate misallocation with larger effects on exporters and high-productivity firms …