This paper constructs a two-country stochastic growth model in which neutraland investment-specic technology shocks are nonstationary but cointegrated acrosseconomies. It uses this model to interpret data showing that while real investmenthas grown faster than real consumption in the United...

We use panel data on Mexican manufacturing plants to study the connection between plants´responses to changes in the economic environment and their contributions to aggregateproductivity growth in the period following the implementation of the North American TradeAgreement (NAFTA)...

This note investigates the effects of the education level, product market rigidities andemployment protection legislation on growth. It exploits macro-panel data for OECDcountries...

We study the dispersion in rates of provincial economic- and TFP growth in China. Ourresults show that regional growth patterns can be understood as a function of severalinterrelated factors, which include investment in physical capital, human capital, andinfrastructure capital; the infusion of...

The literature focusing on the geography of entrepreneurship has developed some-thing of a schizophrenic approach. On the one hand is a series of studies, which have tried to identify characteristics specific to particular regions that account for inter-spatial variations in entrepreneurship. On...

The neoclassical model of the production function, as applied by Robert Solow to build the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor,...

We reappraise the relationship between productivity and equilibrium real exchangerates using a panel estimation framework that incorporates a large number ofcountries and importantly, a dataset that allows explicit consideration of the role ofnon-traded, as well as traded, sector productivity...

We study the dispersion in rates of provincial economic- and TFP growth in China. Our results show that regional growth patterns can be understood as a function of several interrelated factors, which include investment in physical capital, human capital, and infrastructure capital...

For more than fifty years, the Solow decomposition (Solow 1957) has served as the standard measurement of total factor productivity (TFP) growth in economics and management, yet little is known about its precision, especially when the capital stock is poorly measured. Using synthetic data...

The paper reviews the macroeconomic data describing the British economy from 1760 to1913 and shows that it passed through a two stage evolution of inequality. In the first half ofthe nineteenth century, the real wage stagnated while output per worker expanded. The profitrate doubled and the...