We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate … ensures that the model features endogenous growth. The rewards to rent-seeking accrue during youth and part of the additional …-seeking increases the steady-state economic growth rate in the benchmark model. We identify three main mechanisms affecting the growth …

This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the … engineers diverged in their growth trajectories over the next century. The results are supported by historical case studies from …

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … find that a smaller long-run growth rate may be associated with a smaller capital-income ratio. Hence, the key implication … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the …