business cycles are asymmetric and resemble mini "disasters." By this we mean that growth is pervasively fat-tailed and non … peacetime sample, we develop a tractable local projection framework to estimate consumption growth paths for normal and … sacrifice more than 10 percent of consumption to avoid such cyclical fluctuations. …

business cycles are asymmetric and resemble mini "disasters." By this we mean that growth is pervasively fat-tailed and non … peacetime sample, we develop a tractable local projection framework to estimate consumption growth paths for normal and … sacrifice more than 10 percent of consumption to avoid such cyclical fluctuations. …

We use detailed product- and firm-level data to study the sources of innovation and the patterns of productivity growth … incumbent firms. As predicted by Schumpeterian growth theories, the rate of product reallocation strongly depends on the … innovation efforts of the firms and has important implications for revenue growth, improvements in products' quality, and …

) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great …

) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great …

In this paper we integrate Schumpeterian endogenous growth into a general equilibrium framework. By explicitely … modelling the innovation and technology adoption process we are able to match some stylized economic facts such as entry rates … allows us to propose a new definition of what a technology shock is and to compare it with the standard definition. Results …

We develop a unified theory of endogenous business cycles in which expansions are neoclassical growth periods driven by … below potential output. Recessions allow skilled labor to be reallocated to growth promoting activities which fuel …

This article investigates the role of technology, education and wages in shaping the skill structure of employment …