This paper models the relationship between innovation and sustained economic growth through as being mediated by institutions that calibrate a 'structure of technological production' analogous to capital-based models of the structure of production. Our framework discusses two types of capital:...

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...

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...