These are lecture notes for the article "Technological Progress and Economic Transformation," in the Handbook of Economic Growth, 2005, v. 1B, edited by Philippe Aghion and Steven N. Durlauf. Amsterdam: Elsevier North-Holland, pp. 1225-1273.

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...

We analyze the effects of neutral and investment-specific technology shocks on hours worked and unemployment. We characterize the response of unemployment in terms of job separation and job finding rates. We find that job separation rates mainly account for the impact response of unemployment...

Die Arbeit beschäftigt sich mit der Investition in neue, emissionsärmere Technologien, bei dem der Entscheider eine große, langfristige Investition tätigt und den dafür optimalen Zeitpunkt wählt. Dabei wird sowohl der gesamtwirtschaftliche Kontext, also die effiziente Allokation der neuen...

This paper empirically investigates and identifies the main contributing factors to output and productivity growth in Australia for the period 1950-2005. Cointegration and a vector error-correction model are used along with Granger causality tests, impulse response functions and forecast error...

The Hudson-Jorgenson Energy/Economic Model - formally known as the Long Term Interindustry Transactions Model (LITM) - is an econometric model of the structure of the US economy. LITM integrates two separate models into one integrated system. These models are the Macroeconomic Model, a growth...

The Department of Energy's (DOE) Small Business Program is characterized by its diligent involvement in the procurement process to enhance participation by small businesses, small disadvantaged businesses, labor surplus area firms, and women-owned businesses. The DOE's primary means of securing...

Most empirical analysis of the finance-growth nexus has used measures of financial development such as the ratio of monetary or financial assets to GDP to measure financial development. We argue that from a policy perspective measures of financial liberalisation or reform are of greater interest...

There is a growing debate in the emerging market on the choice of an appropriate monetary or exchange rate policy that could lead to a sustainable economic growth. Inflation targeting has become one of these policy alternatives and has recently been implemented in some of the emerging markets in...