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. …

a measure of technology that isolates sources of innovation and their contributions to domestic TFP. Within …

exogenous limitations on the spread of nuclear technology were relaxed. Using the climate change economics model WITCH we find … that until 2050 the resulting growth rates of nuclear electricity generation capacity become comparable to historical rates … extensive the improvements of coal-based power equipped with CCS technology would need to be if our model is to significantly …

. The Internet and wireless communication are treated as the central mechanisms of ICT-driven productivity growth. The … computational capacity at center stage (e.g., Jorgenson 2001). The usual sources-of-growth model is adapted for network effects and … contributed nearly 0.5 percentage points to productivity growth annually from 2000 to 2007, or 32 percent of the overall change in …

It is now widely recognized that information technology (IT) was critical to the dramatic acceleration of U.S. labor … productivity growth in the mid-1990s. This paper traces the evolution of productivity estimates to document how and when this … as important sources of growth. Although IT has diminished in significance since the dot-com crash of 2000, we project …

The theoretical richness and variety of the new growth literature can make it difficult to capture the essence of … growth models. With this paper, we wish to provide one possible integrating view of the nature of the growth generating … processes. Revisiting the models that constitute the core of growth theory, we expose analytically the main mechanisms through …

, driven by information technology, is the most remarkable feature of the US growth resurgence. We consider the implications of … the early 1990s, output growth has accelerated by nearly two percentage points. We attribute this to rapid capital … accumulation, a surge in hours worked, and faster growth of total factor productivity. The acceleration of productivity growth …

cycle fluctuations behavior of the economy. To analyze this issue, we embed a model of Schumpeterian growth into an …The macroeconomic experience of the last decade stressed the importance of jointly studying the growth and business …