Research

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Title
Author(s)
Year
Gene Grossman
2016
The evidence for the United States points to balanced growth despite falling investment-good prices and an elasticity of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's ...
Gene Grossman
2016
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into either a research sector or a manufacturing sector that produces differentiated goods. Each research project ...
Sir Angus Deaton
2015
Easterly’s Tyranny of Experts is a paean to freedom, democracy, and the rights of the poor. It rightly damns the “technological illusion” that development is an engineering problem, not a political problem that cannot be solved by experts, particularly ...
Gene Grossman
2015
How does globalization affect economic growth? We discuss mechanisms that link international integration to the incentives for knowledge accumulation and the efficacy of that process. First, integration facilitates the flow of knowledge across national ...
Roland Benabou
2015
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the ...
Sir Angus Deaton
2015
In this paper we analyze the relationship between turnover-driven growth and subjective wellbeing, using cross-sectional MSA level US data. We find that the effect of creative destruction on well-being is (i) unambiguously positive if we control for MSA ...
Alan Blinder
2014
The U.S. economy has grown faster--and scored higher on many other macroeconomic metrics--when the President of the United States is a Democrat rather than a Republican. For many measures, including real GDP growth (on which we concentrate), the ...