How do high wage countries stay rich in a global digital economy? How Revolutionary was the Digital Revolution constructs a framework for analyzing the international digital era: one that examines the ability of political actors to innovate and experiment in spite of, or perhaps because of, the...

"We include learning in a standard equilibrium business cycle model with explicit growth. We use the model to study how the economy's agents could learn in real time about the important trend-changing events of the postwar era in the U.S., such as the productivity slowdown, increased labor force...