What determines the technology that a country adopts? While many factors affect technological adoption, the efficiency of the country's financial system may also play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with...

Electricity was born at the dawn of the last century. Households were inundated with a flood of new consumer durable goods. What was the impact of this consumer durable goods revolution? It is argued here that the consumer goods revolution liberated women from the home. To analyze this...