"Even after achieving the status of a developed economy, many economies face other challenges which may include economic stagnation and income inequality. The book looks at how a mature economy can continue to weather challenges and how the growth of living standards will depend on productivity...

This paper analyzes the gradual shift in the technological paradigm of an economy as it approaches the world technology frontier. The model developed in this paper consists of firms which employ skilled workers as an important input in technological advancement, but the novel feature here is the...