Can we use neoclassical growth model to single out the important transmission channels through which external factors or primitives affected the Indian economy and caused the remarkable growth of the period 1982-2002? In this paper, we answer the question by applying the new technique of...

We investigate the misallocation of credit in Japan associated with banks’ evergreening loans, distinguishing between two types of firm distress: (perhaps temporary) financial distress and technical distress, which reflects weak operational capabilities, as indicated by low total factor...

What are the economic mechanisms that account for sudden growth spurts? Are these mechanisms similar across episodes? Focusing on the economic resurgence of the BRICs over the last decade, we employ the Business Cycle Accounting methodology developed by Chari, Kehoe and McGrattan (2007) to...