Is inequality harmful for economic growth? Is the underdevelopment of Latin America related to its unequal distribution … growth in general, but also that differences in economic inequality across the American continent during the 19th century are …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 …

-1994. The interaction of this pre-existing network structure with patent growth in upstream technology fields has strong …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 …

both an engine of growth and a potential barrier to it. As a result, growth is an inverse U-shaped function of the … standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show …

both an engine of growth and a potential barrier to it. As a result, growth is an inverse U-shaped function of the … standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show …

equilibria. They also imply that factor distribution of income has an important impact on growth. Finally, the paper derives new …

growth. At early stages of development, the presence of indivisible projects limits the degree of risk … inability to diversify idiosyncratic risks introduces high uncertainty in the growth process. The typical development pattern … financial deepening and lastly, steady growth. ‘Lucky’ countries will spend relatively less time in the primitive accumulation …