Information and Communication Technology (ICT) investments are the driving force behind the resurgence of growth in the developed countries during recent years. They are also the main reason for the increased growth rates of Total Factor Productivity (TFP). In this paper, we examine whether...

In this paper we show that a two sector model with human capital is able to generate persistence in output growth comparable to that observed in the postwar U.S. data. The key feature is a relatively low elasticity of substitution between human capital and raw labor in the production of human...

type="main" xml:lang="en" <title type="main">SUMMARY</title> </section> <title type="main">Capital quality improvement and Euroland growth 
Sources of growth</title> <p> Europe's growth slowed in the 1990s, reinforcing the overall impression of a need to catch up with the US regarding standards of living. In reaction, EU leaders adopted the famous Lisbon...</p>