Economic Growth. Prof. Fabrizio Zilibotti (University of Zurich) Università Bocconi, Spring 2016

Size: px
Start display at page:

Download "Economic Growth. Prof. Fabrizio Zilibotti (University of Zurich) Università Bocconi, Spring 2016"

Transcription

1 Economic Growth Prof. Fabrizio Zilibotti (University of Zurich) Università Bocconi, Spring 2016 These eight lectures cover advanced topics in the area of innovation, growth and economic development. The lectures are held every Tuesday (9:00-12:00) from to The bibliography below contains details on lecture material. The main book reference for the course is: * Acemoglu D.: Introduction to Modern Economic Growth Princeton University Press, Princeton NJ, 2009 (DA). Prerequisites: Students are supposed to be familiar with the neoclassical growth model, Euler equations, in nite horizon macro models in continuous time, the AK model. For reference on this material students may want to consult DA (chapters 2, 3, 4, 8, 11), and AH (chapters 1, 2). For a compact treatment of the mathematical methods, see Barro and Sala-i-Martin Economic Growth, Appendix on Mathematical Methods (especially, Dynamic Optimization in Continuous Time). 1

2 Schedule Date Time Topic :00-12:00 Directed Technical Change :00-12:00 Directed Technical Change :00-12:00 Growth & Misallocation :00-12:00 Distance to Frontier, Innov. & Growth :00-12:00 Distance to Frontier, Innov. & Growth :00-12:00 Cultural Factors, Beliefs & Development 2

3 1 Directed Technical Change 1.1 Lecture material DA Chapters 12, 13, 15, and 18. Acemoglu D. G. Gancia, and F. Zilibotti: O shoring and Directed Technical Change." O shoring and Directed Technical Change. American Economic Journal: Macroeconomics, 7, (2015). Gancia G., A. Müller, and F. Zilibotti: Structural Development Accounting. In Advances in Economics and Econometrics: Theory and Applications (Tenth World Congress of the Econometric Society), D. Acemoglu, M. Arellano and E. Dekel (eds.), Cambridge University Press. (2013). Gancia G. and F. Zilibotti: Horizontal Innovation in the Theory of Growth and Development, Handbook of Economic Growth Volume 1A. Edited by Philippe Aghion and Steve Durlauf, , 2005 (GZ1). Gancia G. and F. Zilibotti: Technological Change and the Wealth of Nations, Annual Reviews of Economics 1: (GZ2). 1.2 Additional references Acemoglu D.: Directed Technical Change, Review of Economic Studies, 69, (2002). Acemoglu D., P. Aghion, L. Bursztyn and D. Hemous: The Environment and Directed Technological Change, American Economic Review Vol. 102, No. 1, (2012). Acemoglu D. G. Gancia, and F. Zilibotti: "Competing Engines of Growth: Innovation and Standardization". Journal of Economic Theory, 147 (2), (2012). Acemoglu D. and F. Zilibotti: Productivity Di erences. Quarterly Journal of Economics, 115, (2001). Basu S. and Weil D.: Appropriate Technology and Growth Quarterly Journal of Economics, 113, (1999). Caselli F. Accounting for Income Di erences across Countries, in Handbook of Economic Growth (P.Aghion and S.Durlauf eds.). North Holland (2005). 3

4 Parente S. and E. Prescott: Barriers to Technology Adoption and Development Journal of Political Economy, 102, (1994). Rivera Batiz, L. and P. Romer: Economic Integration and Endogenous Growth Quarterly Journal of Economics, 106, (1991). Romer P.: Endogenous Technical Change, Journal of Political Economy 98, S71-S102 (1990). 2 Growth and Misallocation 2.1 Lecture Material Hsieh C.T. and P.J. Klenow: Misallocation and manufacturing TFP in China and India, The Quarterly Journal of Economics, 124, (2009). Storesletten K., Z. Song and F. Zilibotti: Growing like China. American Economic Review, 101, (2011). Hsieh, C. T., Hurst, E., Jones, C. I. and Klenow, P. J. (2013). The allocation of talent and US economic growth. NBER Working Paper No Additional references DA Chapter 20 (as background) Alder S., L. Shao and F. Zilibotti Ëconomic Reforms and Industrial Policy in a Panel of Chinese Cities"CEPR Discussion Paper 9748 (2013). Gourinchas P.O. and O. Jeanne. Capital Flows to Developing Countries: The Allocation Puzzle. Review of Economic Studies 80, (2013). Hsieh C.T. and Z. Song. Grasp the large, let go of the small: the transformation of the state sector in China. Brooking Papers of Economic Activity, forthcoming. Song Z., K. Storesletten and F. Zilibotti. Growing (with Capital Controls) Like China. IMF Economic Review, 62, (2014). 4

5 Storesletten K. and F. Zilibotti "China s Great Convergence and Beyond."Annual Review of Economics (August 2014). Ventura J. "Growth and Interdependence". Quarterly Journal of Economics 112, (1997). 3 Distance to Frontier, Finance, Innovation & Growth 3.1 Lecture Material DA Chapter 19 DA Chapter 14, 21 (pp ) Acemoglu, D. and F. Zilibotti Was Prometheus Unbound by Chance? Risk Diversi cation and Growth. Journal of Political Economy, 105, (1997). Acemoglu D., P. Aghion, and F. Zilibotti Distance to Frontier, Selection, and Economic Growth. Journal of the European Economic Association 4, (2006). Klette, T.J. and S. Kortum. Innovating rms and aggregate innovation.. Journal of Political Economy 112, (2004). Lorenz, J., Michael Koenig, and F. Zilibotti Innovation vs. Imitation and the Evolution of Productivity Distributions. Theoretical Economics forthcoming (2016). 3.2 Additional references Acemoglu D., P. Aghion, C. Lelarge, J. Van Reenen and F. Zilibotti: "Technology, Information and the Decentralization of the Firm", Quarterly Journal of Economics, 122, (2007). Aghion P. and P. Howitt A Model of Growth through Creative Destruction. Econometrica 60, (1992). Acemoglu, D., Akcigit, U., Bloom, N., and W. Kerr. Innovation, Reallocation and Growth. NBER Working Papers (2013). 5

6 Akcigit, U. and W. Kerr. Growth through heterogeneous innovations. NBER Working Paper (2010). Garcia-Macia, D, Hsieh C, and P. Klenow. How destructive is innovation? Unpublished manuscript, Stanford Univ., Stanford, CA (2015). Lucas R.E.Jr. and B. Moll. Knowledge Growth and the Allocation of Time. Journal of Political Economy, 122, 1 51 (2014) Zilibotti F.: Economic Growth through the Development Process"(keynote invited lecture of the annual CESifo Conference on Productivity and Growth), CESifo Economic Studies 54, (2008). 6

7 4 Cultural Factors, Beliefs & Economic Development 4.1 Lecture Material Doepke M. and F. Zilibotti: Occupational Choice and the Spirit of Capitalism. Quarterly Journal of Economics, 123, (2008). Doepke M. and F. Zilibotti: Culture, Entrepreneurship, and Growth. Chapter 1 (pp. 1 48) of the Handbook of Economic Growth volume 2a, edited by Philippe Aghion and Steven Durlauf, NorthHolland (2014). Rohner D., M. Thoenig and F. Zilibotti: War Signals: A theory of trade, trust and con ict. Review of Economic Studies, 80, (2013). Rohner D., M. Thoenig and F. Zilibotti: Seeds of Distrust: Con ict in Uganda. Journal of Economic Growth, 18, (2013). 4.2 Additional references Acemoglu D. and F. Zilibotti: Information Accumulation in Development, Journal of Economic Growth 4, 5-38, (1999). Acemoglu D. and A. Wolitzky: Cycles of Distrust: An Economic Model, Forthcoming in the American Economic Review (2014). Baliga S. and T. Sjostrom: Arms Races and Negotiations, Review of Economic Studies, 71, (2004). Besley T. and T. Persson: State Capacity, Con ict and Development, Econometrica, 78, 1-34 (2010). Dal Bo E. and P. Dal Bo: Workers, Warriors, and Criminals: Social Con ict in General Equilibrium, Journal of the European Economic Association 9, , (2011). Esteban J. and D. Ray: Linking Con ict to Inequality and Polarization, American Economic Review, 101, (2011). Esteban J., L. Mayoral and D. Ray: Ethnicity and Con ict: An Empirical Investigation, American Economic Review, 102, (2012). 7

8 Guiso L., P. Sapienza and L. Zingales: Cultural biases in Economic Exchanges?, Quarterly Journal of Economics, 124, (2009). Galor O. and O. Moav: Natural Selection and the Origin of Economic Growth, Quarterly Journal of Economics, 117, (2002). Hauk E. and M. Saez-Marti: On the Cultural Transmission of Corruption, Journal of Economic Theory, 107, (2001). 8

Discussion by Pete Klenow (Stanford University) of: BIG ANSWERS FOR BIG QUESTIONS: THE PRESUMPTION OF MACRO. By Abhijit Banerjee

Discussion by Pete Klenow (Stanford University) of: BIG ANSWERS FOR BIG QUESTIONS: THE PRESUMPTION OF MACRO. By Abhijit Banerjee Discussion by Pete Klenow (Stanford University) of: BIG ANSWERS FOR BIG QUESTIONS: THE PRESUMPTION OF MACRO By Abhijit Banerjee Brookings Institution Global Economy and Development Conference on What Works

More information

Total Factor Productivity

Total Factor Productivity Total Factor Productivity Diego Comin NewYorkUniversityandNBER August 2006 Abstract Total Factor Productivity (TFP) is the portion of output not explained by the amount of inputs used in production. The

More information

How Destructive is Innovation?

How Destructive is Innovation? How Destructive is Innovation? Daniel Garcia-Macia Stanford University Chang-Tai Hsieh University of Chicago and NBER Peter J. Klenow Stanford University and NBER June 30, 2015 Abstract Entering and incumbent

More information

Discussion of Growing Like China

Discussion of Growing Like China Discussion of Growing Like China by Song, Storesletten and Zilibotti Alberto Martin CREI and UPF December 2008 Alberto Martin (CREI and UPF) Discussion of Growing Like China December 2008 1 / 10 This paper

More information

ECG 739 Economic Growth & Development. Class day, time, and location: Tue & Thu, 10:15am-11:30am, Room 304, MaryeAnne Fox Hall

ECG 739 Economic Growth & Development. Class day, time, and location: Tue & Thu, 10:15am-11:30am, Room 304, MaryeAnne Fox Hall ECG 739 Economic Growth & Development Class day, time, and location: Tue & Thu, 10:15am-11:30am, Room 304, MaryeAnne Fox Hall Instructor: Prof. John Seater Fall, 2012 Office: 4146 Nelson Hall Tel: 513-2697

More information

What Capital is Missing in Developing Countries?

What Capital is Missing in Developing Countries? What Capital is Missing in Developing Countries? Miriam Bruhn Development Research Group The World Bank MSN MC3-307 1818 H Street N.W. Washington, DC 20433 mbruhn@worldbank.org 202-458-2732 Dean Karlan

More information

ECON 35101: International Macroeconomics and Trade University of Chicago, Fall Quarter, 2015 Syllabus

ECON 35101: International Macroeconomics and Trade University of Chicago, Fall Quarter, 2015 Syllabus ECON 35101: International Macroeconomics and Trade University of Chicago, Fall Quarter, 2015 Syllabus Time: Wednesday 9:00-11:50 am Room: HC3B Instructor: Ralph Ossa Office: Booth 379 Email: ralph.ossa

More information

ECONOMIC GROWTH. E0xxxx

ECONOMIC GROWTH. E0xxxx 1 ECONOMIC GROWTH E0xxxx Economic growth is the increase in a country s standard of living over time. Growth economists study how living standards differ across countries as well as across time. This article

More information

References on Economic Growth

References on Economic Growth References on Economic Growth Charles I. Jones January 7, 2002 This collection of references is, by its nature, incomplete and always growing. Feel free to suggest additions. 1. Basic References Barro,

More information

welfare costs of business cycles

welfare costs of business cycles welfare costs of business cycles Ayse Imrohoroglu From The New Palgrave Dictionary of Economics, Second Edition, 2008 Edited by Steven N. Durlauf and Lawrence E. Blume Abstract The welfare cost of business

More information

HOW IMPORTANT IS BUSINESS R&D FOR ECONOMIC GROWTH AND SHOULD THE GOVERNMENT SUBSIDISE IT?

HOW IMPORTANT IS BUSINESS R&D FOR ECONOMIC GROWTH AND SHOULD THE GOVERNMENT SUBSIDISE IT? HOW IMPORTANT IS BUSINESS R&D FOR ECONOMIC GROWTH AND SHOULD THE GOVERNMENT SUBSIDISE IT? Rachel Griffith THE INSTITUTE FOR FISCAL STUDIES Briefing Note No. 12 Published by The Institute for Fiscal Studies

More information

Review of knowledge capital and growth

Review of knowledge capital and growth Annex A Review of knowledge capital and growth This annex provides a more technical overview of the estimates of growth models that are relied upon in the text. It also describes the various tests used

More information

Endogenous Technology Choices and the Dynamics of Wage Inequality

Endogenous Technology Choices and the Dynamics of Wage Inequality Endogenous Technology Choices and the Dynamics of Wage Inequality Empirical and Theoretical Evidence Jan Department of Economics European University Institute Fondazione Eni Enrico Mattei, February 2013

More information

The Future of US Economic Growth

The Future of US Economic Growth American Economic Review: Papers & Proceedings 2014, 104(5): 44 49 http://dx.doi.org/10.1257/aer.104.5.44 The Future of US Economic Growth By John G. Fernald and Charles I. Jones* Arguably the most important

More information

Real Business Cycle Theory. Marco Di Pietro Advanced () Monetary Economics and Policy 1 / 35

Real Business Cycle Theory. Marco Di Pietro Advanced () Monetary Economics and Policy 1 / 35 Real Business Cycle Theory Marco Di Pietro Advanced () Monetary Economics and Policy 1 / 35 Introduction to DSGE models Dynamic Stochastic General Equilibrium (DSGE) models have become the main tool for

More information

Advanced Macroeconomics II (second half)

Advanced Macroeconomics II (second half) Barcelona Graduate School of Economics Universitat Pompeu Fabra Master in Economics Spring 2012 Professor Jordi Galí (23.413, jgali@crei.cat) Advanced Macroeconomics II (second half) The lectures will

More information

Department of Economics, Yale University International Finance 724b. Syllabus

Department of Economics, Yale University International Finance 724b. Syllabus Department of Economics, Yale University International Finance 724b Syllabus Instructor: Costas Arkolakis Office: 28 Hillhouse, Rm 207 Office phone: 203-432-3527 Email: costas.arkolakis@yale.edu Class

More information

The Future of U.S. Economic Growth

The Future of U.S. Economic Growth FEDERAL RESERVE BANK OF SAN FRANCISCO WORKING PAPER SERIES The Future of U.S. Economic Growth John G. Fernald, Federal Reserve Bank of San Francisco Charles I. Jones, Stanford GSB and NBER January 2014

More information

The Future of U.S. Economic Growth

The Future of U.S. Economic Growth The Future of U.S. Economic Growth By JOHN G. FERNALD AND CHARLES I. JONES Arguably the most important fact of the last century is the steady rise in living standards throughout much of the world. Will

More information

LAURA MAYORAL. Institute for Economic Analysis, (Spanish National Research Council)

LAURA MAYORAL. Institute for Economic Analysis, (Spanish National Research Council) LAURA MAYORAL CONTACT INFORMATION Institute for Economic Analysis, (Spanish National Research Council) Telephone: 00 34 93 5802249 E-mail: laura.mayoral@iae.csic.es Web: http://mayoral.iae-csic.org/ Citizenship

More information

Overview of Growth Research in the Past Two Decades

Overview of Growth Research in the Past Two Decades Overview of Growth Research in the Past Two Decades by Pete Klenow Stanford University and NBER September 21, 2010 Early Growth Research 1950s Solow (1956) 1960s Nelson and Phelps (1966) 1970s Dark Ages

More information

MASTER IN ECONOMICS AND FINANCE

MASTER IN ECONOMICS AND FINANCE MASTER IN ECONOMICS AND FINANCE The document presents the structure of the master program (and the professors in charge of each course) in 2014 2015. Courses, workshops, etc. are ordered primarily by the

More information

EC 591. INTERNATIONAL ECONOMICS Professor R Lucas: Fall 2015 Monday & Wednesday 2 3.30 CAS 212

EC 591. INTERNATIONAL ECONOMICS Professor R Lucas: Fall 2015 Monday & Wednesday 2 3.30 CAS 212 Office hours EC 591. INTERNATIONAL ECONOMICS Professor R Lucas: Fall 2015 Monday & Wednesday 2 3.30 CAS 212 Course content Prerequisites Requirements Monday 10.30 12.30 and Wednesday 8 9; Room 500, 264

More information

FRANCESCO CASELLI Department of Economics, LSE, London WC2A 2AE f.caselli@lse.ac.uk - (44) (0) 207 955 7498 http://personal.lse.ac.

FRANCESCO CASELLI Department of Economics, LSE, London WC2A 2AE f.caselli@lse.ac.uk - (44) (0) 207 955 7498 http://personal.lse.ac. FRANCESCO CASELLI Department of Economics, LSE, London WC2A 2AE f.caselli@lse.ac.uk - (44) (0) 207 955 7498 http://personal.lse.ac.uk/casellif/ Main Academic Position Norman Sosnow Chair in Economics,

More information

SOUTHERN ILLINOIS UNIVERSITY CARBONDALE DEPARTMENT OF ECONOMICS. Econ 530 Foreign Trade

SOUTHERN ILLINOIS UNIVERSITY CARBONDALE DEPARTMENT OF ECONOMICS. Econ 530 Foreign Trade SOUTHERN ILLINOIS UNIVERSITY CARBONDALE DEPARTMENT OF ECONOMICS Session Fall, 2015 Professor Sajal Lahiri Econ 530 Foreign Trade Outline Syllabus: This course is concerned with the key theoretical and

More information

Education policies to make globalization more inclusive

Education policies to make globalization more inclusive 9 Education policies to make globalization more inclusive Ludger Woessmann 9.1 Introduction The process of globalization has furthered economic growth and development in many cases, but concerns have been

More information

Public Management and Policy Analysis Program

Public Management and Policy Analysis Program GSIR Public and Policy Analysis Program The Public and Policy Analysis Program (PMPP) meets the needs of "good governance" in public sectors. This is required to implement and evaluate policies covering

More information

Journal rankings: see next pages

Journal rankings: see next pages Minimum hiring requirements for Assistant Professors in Economics (Ricercatore a tempo determinato - Tipo a), Facoltà di Economia, Università Cattolica del Sacro Cuore a. Candidates with less than three

More information

The Macroeconomic Effects of Asset Price Shocks in a Globalized Financial Market, Scandinavian Journal of Economics, 116(1), 2014.

The Macroeconomic Effects of Asset Price Shocks in a Globalized Financial Market, Scandinavian Journal of Economics, 116(1), 2014. VINCENZO QUADRINI Department of Finance and Business Economics Marshall School of Business, USC 701 Exposition Boulevard, HOH 715 Los Angeles, CA 90089 Tel: (213) 740-6521 Fax: (213) 740-6650 E-mail: quadrini@usc.edu

More information

Bibliography and outline for lectures on macroeconomic consequences of oil price shocks January 2014

Bibliography and outline for lectures on macroeconomic consequences of oil price shocks January 2014 Bibliography and outline for lectures on macroeconomic consequences of oil price shocks January 2014 I. Review of postwar oil supply disruptions. *Hamilton (2013[a]) Hamilton (1983) Barsky and Kilian (2001)

More information

When Does Domestic Saving Matter for Economic. Growth? 1

When Does Domestic Saving Matter for Economic. Growth? 1 When Does Domestic Saving Matter for Economic Growth? 1 Philippe Aghion Harvard University Peter Howitt Brown University November 14, 2005 1 Preliminary draft of paper to be presented to the conference

More information

The Contribution of Human capital to European Economic Growth: An empirical exploration from a panel data

The Contribution of Human capital to European Economic Growth: An empirical exploration from a panel data The Contribution of Human capital to European Economic Growth: An empirical exploration from a panel data Menbere Workie Tiruneh 1 Marek Radvansky 2 Abstract The paper empirically investigates the extent

More information

Innovation and Top Income Inequality

Innovation and Top Income Inequality Innovation and Top Income Inequality Philippe Aghion Ufuk Akcigit Antonin Bergeaud Richard Blundell David Hémous June 2015 Abstract In this paper we use cross-state panel data to show a positive and significant

More information

Sandro Brusco. Education

Sandro Brusco. Education Sandro Brusco Contact information: e-mail: sandro.brusco@stonybrook.edu Address: Department of Economics Stony Brook University Stony Brook, NY 11794 Education Sep. 1988 - Jan. 1993 Doctoral program in

More information

Selected Topics in International Economics

Selected Topics in International Economics Selected Topics in International Economics GOALS One of the most significant developments in macroeconomic during recent years has been the increasingly central role played by international transactions

More information

Calibration of Normalised CES Production Functions in Dynamic Models

Calibration of Normalised CES Production Functions in Dynamic Models Discussion Paper No. 06-078 Calibration of Normalised CES Production Functions in Dynamic Models Rainer Klump and Marianne Saam Discussion Paper No. 06-078 Calibration of Normalised CES Production Functions

More information

How To Understand The Relationship Between Economic Development And Growth

How To Understand The Relationship Between Economic Development And Growth Andrea F. Presbitero E-mail: a.presbitero@univpm.it Pagina web: www.dea.unian.it/presbitero/ Dipartimento di Economia Università Politecnica delle Marche Credito, Finanza e Sviluppo nei PVS Financial Development

More information

How To Teach Economics In Italy

How To Teach Economics In Italy CARMELO PIERPAOLO PARELLO Citizenship: Email: Webpage: Address Italian carmelo.parello@uniroma1.it http://dep.eco.uniroma1.it/~parello/curricula.php Office: Dipartimento di Economia Pubblica Via del Castro

More information

The Link Between Openness and Long-Run Economic Growth

The Link Between Openness and Long-Run Economic Growth The Link Between Openness and Long-Run Economic Growth Web version: July 2008 Authors: Lill Andersen and Ronald Babula 1 Abstract We review the most cited empirical analyses of the relationship between

More information

Università Commerciale Luigi Bocconi PhD Program in Business Administration & Management APPLIED BUSINESS ANALYSIS. Academic Year 2013-2014

Università Commerciale Luigi Bocconi PhD Program in Business Administration & Management APPLIED BUSINESS ANALYSIS. Academic Year 2013-2014 Università Commerciale Luigi Bocconi PhD Program in Business Administration & Management APPLIED BUSINESS ANALYSIS Academic Year 2013-2014 Instructors: Alfonso Gambardella, Jay Horwitz STRUCTURE AND GOALS

More information

NBER WORKING PAPER SERIES MISSING GAINS FROM TRADE? Marc J. Melitz Stephen J. Redding. Working Paper 19810 http://www.nber.

NBER WORKING PAPER SERIES MISSING GAINS FROM TRADE? Marc J. Melitz Stephen J. Redding. Working Paper 19810 http://www.nber. NBER WORKING PAPER SERIES MISSING GAINS FROM TRADE? Marc J. Melitz Stephen J. Redding Working Paper 980 http://www.nber.org/papers/w980 NATIONAL BUREAU OF ECONOMIC RESEARCH 050 Massachusetts Avenue Cambridge,

More information

Christian Constandse Otoño 2007. [1] Aguiar, A. y M.M.F. Martins, 2005. Testing for Asymmetries in the Preferences of the

Christian Constandse Otoño 2007. [1] Aguiar, A. y M.M.F. Martins, 2005. Testing for Asymmetries in the Preferences of the Referencias [1] Aguiar, A. y M.M.F. Martins, 2005. Testing for Asymmetries in the Preferences of the Euro-Area Monetary Policymaker, FEP Working Papers, No. 182, Centro de Estudos Macroeconómicos e Previsao,

More information

How To Understand The Theory Of Finance

How To Understand The Theory Of Finance University of Pennsylvania The Wharton School FNCE 911: Foundations for Financial Economics Prof. Jessica A. Wachter Fall 2010 Office: SH-DH 2322 Classes: Mon./Wed. 1:30-3:00 Email: jwachter@wharton.upenn.edu

More information

New Dynamic Public Finance. Mikhail Golosov (Yale, New Economic School, and NBER) Aleh Tsyvinski (Yale, New Economic School, and NBER)

New Dynamic Public Finance. Mikhail Golosov (Yale, New Economic School, and NBER) Aleh Tsyvinski (Yale, New Economic School, and NBER) New Dynamic Public Finance Mikhail Golosov (Yale, New Economic School, and NBER) Aleh Tsyvinski (Yale, New Economic School, and NBER) New Dynamic Public Finance is a recent literature that analyzes taxation

More information

PETER N. IRELAND. Department of Economics Boston College 140 Commonwealth Avenue Chestnut Hill, MA 02467-3859

PETER N. IRELAND. Department of Economics Boston College 140 Commonwealth Avenue Chestnut Hill, MA 02467-3859 PETER N. IRELAND Department of Economics Boston College 140 Commonwealth Avenue Chestnut Hill, MA 02467-3859 peter.ireland@bc.edu http://www2.bc.edu/peter-ireland Principal Appointments Boston College,

More information

ADVANCED COURSES IN ECONOMICS FOR DOCTORAL STUDENTS AND FACULTY MEMBERS 2010 TABLE OF CONTENTS

ADVANCED COURSES IN ECONOMICS FOR DOCTORAL STUDENTS AND FACULTY MEMBERS 2010 TABLE OF CONTENTS ADVANCED COURSES IN ECONOMICS FOR DOCTORAL STUDENTS AND FACULTY MEMBERS 2010 TABLE OF CONTENTS Page Program 2 Participation 2 About the Study Center Gerzensee 2 s 3 Administrative Information 7 Application

More information

The Spending and Debt Response to Minimum Wage Hikes (with Dan Aaronson and Sumit Agarwal), forthcoming at American Economic Review.

The Spending and Debt Response to Minimum Wage Hikes (with Dan Aaronson and Sumit Agarwal), forthcoming at American Economic Review. Eric Baird French Department of Economic Research Federal Reserve Bank of Chicago 230 South LaSalle Street Chicago, IL 60604-1413 phone: (312) 322-6831 fax: (312) 322-2357 email: efrench@frbchi.org Last

More information

ECONOMICS DEPARTMENT WORKING PAPER. Department of Economics Tufts University Medford, MA 02155 (617) 627-3560 http://ase.tufts.

ECONOMICS DEPARTMENT WORKING PAPER. Department of Economics Tufts University Medford, MA 02155 (617) 627-3560 http://ase.tufts. ECONOMICS DEPARTMENT WORKING PAPER 2013 Department of Economics Tufts University Medford, MA 02155 (617) 627-3560 http://ase.tufts.edu/econ Long-Term Barriers to Economic Development Enrico Spolaore Tufts

More information

Accounting for Cross-Country Differences In Income Per Capita*

Accounting for Cross-Country Differences In Income Per Capita* Accounting for Cross-Country Differences In Income Per Capita* BY AUBHIK KHAN L iving standards, as measured by average income per person, vary widely across countries. Differences in income result in

More information

Lecture 3: Growth with Overlapping Generations (Acemoglu 2009, Chapter 9, adapted from Zilibotti)

Lecture 3: Growth with Overlapping Generations (Acemoglu 2009, Chapter 9, adapted from Zilibotti) Lecture 3: Growth with Overlapping Generations (Acemoglu 2009, Chapter 9, adapted from Zilibotti) Kjetil Storesletten September 10, 2013 Kjetil Storesletten () Lecture 3 September 10, 2013 1 / 44 Growth

More information

ID: U000060. Abstract. Urban growth

ID: U000060. Abstract. Urban growth 1 ID: U000060 Abstract Urban growth refers to the process of growth and decline of economic agglomerations. The pattern of concentration of economic activity and its evolution have been found to be an

More information

CONVERGENCE OF INCOME ACROSS PENNSYLVANIA COUNTIES

CONVERGENCE OF INCOME ACROSS PENNSYLVANIA COUNTIES CONVERGENCE OF INCOME ACROSS PENNSYLVANIA COUNTIES David A. Latzko Pennsylvania State University, York Campus ABSTRACT The neoclassical growth model implies that if two economies have the same preferences

More information

THE CONTRIBUTION OF ECONOMIC FREEDOM TO WORLD ECONOMIC GROWTH, 1980 99

THE CONTRIBUTION OF ECONOMIC FREEDOM TO WORLD ECONOMIC GROWTH, 1980 99 THE CONTRIBUTION OF ECONOMIC FREEDOM TO WORLD ECONOMIC GROWTH, 1980 99 Julio H. Cole Since 1986, a group of researchers associated with the Fraser Institute have focused on the definition and measurement

More information

University of Siegen Faculty III Economics Course Offer Master in English, Winter Term

University of Siegen Faculty III Economics Course Offer Master in English, Winter Term Offer Master in English, Winter Term Audit Service & Fraud Investigations Master Business Administration Comming soon Type of During the event, various testing services (in particular, special) are presented.

More information

How Does Political Instability Affect Economic Growth?

How Does Political Instability Affect Economic Growth? WP/11/12 How Does Political Instability Affect Economic Growth? Ari Aisen and Francisco Jose Veiga 2010 International Monetary Fund WP/11/12 IMF Working Paper Middle East and Central Asia Department How

More information

European Economic History Type of course Core Course Degree Program Master of Science in European Economy and Business Law-LM90

European Economic History Type of course Core Course Degree Program Master of Science in European Economy and Business Law-LM90 Course European Economic History Type of course Core Course Degree Program Master of Science in European Economy and Business Law-LM90 Year First Semester II Semester -Part I Credits 6 Pre-requisites None

More information

Seminar Distributed Economic Activity and Collective Phenomena

Seminar Distributed Economic Activity and Collective Phenomena Prof. Dr. Thomas Lux / Markus Demary Summer Term 2007 Seminar Distributed Economic Activity and Collective Phenomena The seminar will cover advanced topics related to the collective outcome of distributed

More information

Technology production: A challenge for economic growth and development in Africa

Technology production: A challenge for economic growth and development in Africa Technology production: A challenge for economic growth and development in Africa Abdoulaye Seck Cheikh Anta Diop University Dakar, Senegal Email: Abdoulaye.seck@ucad.edu.sn 1. Introduction: Growth and

More information

The Real Business Cycle model

The Real Business Cycle model The Real Business Cycle model Spring 2013 1 Historical introduction Modern business cycle theory really got started with Great Depression Keynes: The General Theory of Employment, Interest and Money Keynesian

More information

Real Business Cycles. Federal Reserve Bank of Minneapolis Research Department Staff Report 370. February 2006. Ellen R. McGrattan

Real Business Cycles. Federal Reserve Bank of Minneapolis Research Department Staff Report 370. February 2006. Ellen R. McGrattan Federal Reserve Bank of Minneapolis Research Department Staff Report 370 February 2006 Real Business Cycles Ellen R. McGrattan Federal Reserve Bank of Minneapolis and University of Minnesota Abstract:

More information

Education, Market Rigidities and Growth

Education, Market Rigidities and Growth DISCUSSION PAPER SERIES IZA DP No. 3166 Education, Market Rigidities and Growth Philippe Aghion Philippe Askenazy Renaud Bourlès Gilbert Cette Nicolas Dromel November 2007 Forschungsinstitut zur Zukunft

More information

Topics in Advanced Macroeconomics and Finance, Econ 221B

Topics in Advanced Macroeconomics and Finance, Econ 221B Topics in Advanced Macroeconomics and Finance, Econ 221B François Geerolf "Chance favors only the prepared mind." (Louis Pasteur, 1822-1895, discoverer of vaccination, microbial fermentation and pasteurization)

More information

Future growth patterns of world regions a GDP scenario approach

Future growth patterns of world regions a GDP scenario approach 1 Future growth patterns of world regions a GDP scenario approach Marian Leimbach, Elmar Kriegler, Niklas Roming, Jana Schwanitz Abstract Global GDP projections for the 21st century are needed for the

More information

STEFANIA GARETTO. 270 Bay State Road, room 415B garettos@bu.edu. UNIVERSITY OF CHICAGO, Department of Economics, Ph.D. 2008

STEFANIA GARETTO. 270 Bay State Road, room 415B garettos@bu.edu. UNIVERSITY OF CHICAGO, Department of Economics, Ph.D. 2008 STEFANIA GARETTO 270 Bay State Road, room 415B garettos@bu.edu Boston, MA 02215 http://people.bu.edu/garettos +1 617 3585887 EDUCATION UNIVERSITY OF CHICAGO, Department of Economics, Ph.D. 2008 UNIVERSITY

More information

Teaching modern general equilibrium macroeconomics to undergraduates: using the same t. advanced research. Gillman (Cardi Business School)

Teaching modern general equilibrium macroeconomics to undergraduates: using the same t. advanced research. Gillman (Cardi Business School) Teaching modern general equilibrium macroeconomics to undergraduates: using the same theory required for advanced research Max Gillman Cardi Business School pments in Economics Education (DEE) Conference

More information

E-322 Muhammad Rahman. Chapter 7: Part 2. Subbing (5) into (2): H b(1. capital is denoted as: 1

E-322 Muhammad Rahman. Chapter 7: Part 2. Subbing (5) into (2): H b(1. capital is denoted as: 1 hapter 7: Part 2 5. Definition of ompetitive Equilibrium ompetitive equilibrium is very easy to derive because: a. There is only one market where the consumption goods are traded for efficiency units of

More information

Economics Course Descriptions

Economics Course Descriptions Economics Course Descriptions ECON 1150 GLOBAL ECONOMIC PROBLEMS Impact of international trade, international finance, and foreign direct investment on various parts of the world with emphasis on current

More information

Nobuhiro Kiyotaki. May 2016. Contact Information

Nobuhiro Kiyotaki. May 2016. Contact Information Nobuhiro Kiyotaki May 2016 Contact Information Department of Economics (on leave) Princeton University Princeton, NJ 08544, USA. Tel +1-609-258-4031 email: kiyotaki@princeton.edu Economics Department (visiting)

More information

1/1/2016 LUKASZ A. DROZD, Curriculum Vitae

1/1/2016 LUKASZ A. DROZD, Curriculum Vitae 1/1/2016 LUKASZ A. DROZD, Curriculum Vitae Business Address Federal Reserve Bank of Philadelphia Research Department Cell: 267.608.8628 Ten Independence Mall Office: +1.215.574.6460 Philadelphia, PA 19106

More information

The Facts of Economic Growth

The Facts of Economic Growth The Facts of Economic Growth Charles I. Jones Stanford GSB and NBER April 6, 2015 Version 0.4 Preliminary and Incomplete Abstract Why are people in the richest countries of the world so much richer today

More information

OUTSOURCING AND OFFSHORING OF BUSINESS SERVICES: HOW IMPORTANT IS ICT?

OUTSOURCING AND OFFSHORING OF BUSINESS SERVICES: HOW IMPORTANT IS ICT? OUTSOURCING AND OFFSHORING OF BUSINESS SERVICES: HOW IMPORTANT IS ICT? Laura Abramovsky Institute for Fiscal Studies Rachel Griffith Institute for Fiscal Studies Abstract This paper considers the impact

More information

Will China Escape the Middle-income Trap? A Politico-economic Theory of Growth and State Capitalism

Will China Escape the Middle-income Trap? A Politico-economic Theory of Growth and State Capitalism Will China Escape the Middle-income Trap? A Politico-economic Theory of Growth and State Capitalism Yikai Wang University of Zurich July 2014 Abstract Is China s rapid growth sustainable if the current

More information

WHAT DOES THE PENN WORLD TABLE 7.0 TELL US ABOUT GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH?

WHAT DOES THE PENN WORLD TABLE 7.0 TELL US ABOUT GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH? International Journal of Economics and Management Sciences Vol. 1, No. 4, 2011, pp. 98-111 MANAGEMENT JOURNALS managementjournals.org WHAT DOES THE PENN WORLD TABLE 7.0 TELL US ABOUT GOVERNMENT EXPENDITURE

More information

Appropriate Growth Policy: A Unifying Framework

Appropriate Growth Policy: A Unifying Framework Appropriate Growth Policy: A Unifying Framework The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters. Citation Published Version Accessed

More information

Appropriate Growth Policy: A Unifying Framework

Appropriate Growth Policy: A Unifying Framework Appropriate Growth Policy: A Unifying Framework The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters. Citation Published Version Accessed

More information

Measuring the Cross-Country Distribution of Gains from Trade

Measuring the Cross-Country Distribution of Gains from Trade Measuring the Cross-Country Distribution of Gains from Trade B. Ravikumar Federal Reserve Bank of St. Louis and Arizona State University Michael E. Waugh New York University and NBER September 9, 2015

More information

HONORS, FELLOWSHIPS, AND AWARDS

HONORS, FELLOWSHIPS, AND AWARDS POL ANTRÀS Department of Economics Harvard University Littauer 207 Email: pantras@fas.harvard.edu 1805 Cambridge Street Cambridge, MA 02138 USA Phone: (617) 495-1236 Fax: (617) 495-8570 Webpage: http://www.economics.harvard.edu/faculty/antras

More information

TEXTO PARA DISCUSSÃO N 265 ECONOMIC GROWTH, CONVERGENCE AND QUALITY OF HUMAN CAPITAL FORMATION SYSTEM. Luciano Nakabashi Lízia de Figueiredo

TEXTO PARA DISCUSSÃO N 265 ECONOMIC GROWTH, CONVERGENCE AND QUALITY OF HUMAN CAPITAL FORMATION SYSTEM. Luciano Nakabashi Lízia de Figueiredo TEXTO PARA DISCUSSÃO N 265 ECONOMIC GROWTH, CONVERGENCE AND QUALITY OF HUMAN CAPITAL FORMATION SYSTEM Luciano Nakabashi Lízia de Figueiredo Junho de 2005 Ficha catalográfica 330.34 N63e 2005 Nakabashi,

More information

Real Business Cycle Theory

Real Business Cycle Theory Real Business Cycle Theory Guido Ascari University of Pavia () Real Business Cycle Theory 1 / 50 Outline Introduction: Lucas methodological proposal The application to the analysis of business cycle uctuations:

More information

Total Factor Productivity, Saving Rate and Learning-by-Doing in Growth Process

Total Factor Productivity, Saving Rate and Learning-by-Doing in Growth Process Total Factor Productivity, Saving Rate and Learning-by-Doing in Growth Process Cuong Le Van, Tu-Anh Nguyen y March 19, 2009 Abstract In transitional stage saving rate play an important role in output growth

More information

KENNETH KASA. Macroeconomics and International Finance

KENNETH KASA. Macroeconomics and International Finance 1 KENNETH KASA Address: 4626 W. 13th Avenue Birthdate: January 10, 1959 Vancouver, BC V6R 2V7 Citizenship: USA Telephone: (604)733-0223 (home) Social Security #: 549-04-1738 (604)291-5406 (office) email:

More information

Topics in Time Series Analysis

Topics in Time Series Analysis Topics in Time Series Analysis Massimiliano Marcellino EUI and Bocconi University This course reviews some recent developments in the analysis of time series data in economics, with a special emphasis

More information

Outsourcing and offshoring of business services: how important is ICT?

Outsourcing and offshoring of business services: how important is ICT? AIM Research Working Paper Series Outsourcing and offshoring of business services: how important is ICT? Rachel Griffith Laura Abramovsky 029-January-2006 ISSN: 1744-0009 Outsourcing and offshoring of

More information

Twin Peaks: Growth and Convergence in Models of Distribution Dynamics by Danny T. Quah LSE Economics Department CENTRE FOR ECONOMIC PERFORMANCE DISCUSSION PAPER NO. 280 February 1996 This paper is produced

More information

Investor Protection and Risk Taking

Investor Protection and Risk Taking Investor Protection and Income Inequality: Risk Sharing vs Risk Taking Alessandra Bon glioli y Institute for Economic Analysis-CSIC and CEPR May 17, 2010 Abstract This paper studies the relationship between

More information

ECONOMIC GROWTH, INTERNATIONAL TECHNOLOGICAL SPILLOVERS AND PUBLIC POLICY: THEORY AND EMPIRICAL EVIDENCE FROM ASIA

ECONOMIC GROWTH, INTERNATIONAL TECHNOLOGICAL SPILLOVERS AND PUBLIC POLICY: THEORY AND EMPIRICAL EVIDENCE FROM ASIA ECONOMIC GROWTH CENTER YALE UNIVERSITY P.O. Box 208269 27 Hillhouse Avenue New Haven, CT 06520-8269 CENTER DISCUSSION PAPER NO. 777 ECONOMIC GROWTH, INTERNATIONAL TECHNOLOGICAL SPILLOVERS AND PUBLIC POLICY:

More information

International Economics (ECON - 0323) (48 hours, 3 credits)

International Economics (ECON - 0323) (48 hours, 3 credits) 1 Universidad Americana College of University Studies in English, CUSE Course Syllabus International Economics (ECON - 0323) (48 hours, 3 credits) SEMESTER: Aug - Dec 2015 Days: Tuesday Thursday 17:45-19:15

More information

In recent years political scientists and economists have

In recent years political scientists and economists have SYMPOSIUM The Conditional Relationship between Inequality and Development Carles Boix, Princeton University In recent years political scientists and economists have spent considerable efforts investigating

More information

WHAT IS THE CAUSALITY BETWEEN ECONOMIC GROWTH AND ITS MAJOR

WHAT IS THE CAUSALITY BETWEEN ECONOMIC GROWTH AND ITS MAJOR The 10 th bi-annual EACES conference PATTERNS OF TRANSITION AND NEW AGENDA FOR COMPARATIVE ECONOMICS HIGHER SCHOOL OF ECONOMICS, MOSCOW AUGUST 28-30, 2008 WHAT IS THE CAUSALITY BETWEEN ECONOMIC GROWTH

More information

How does Household Consumption Respond to Income Shocks?

How does Household Consumption Respond to Income Shocks? How does Household Consumption Respond to Income Shocks? Dirk Krueger, University of Pennsylvania Fabrizio Perri, University of Minnesota February 2008 Extremely preliminary Abstract In this paper we rst

More information

THE NEW NORMAL: A SECTOR-LEVEL PERSPECTIVE ON PRODUCTIVITY TRENDS IN ADVANCED ECONOMIES TECHNICAL APPENDIX

THE NEW NORMAL: A SECTOR-LEVEL PERSPECTIVE ON PRODUCTIVITY TRENDS IN ADVANCED ECONOMIES TECHNICAL APPENDIX COUNTRY March 2015 THE NEW NORMAL: A SECTOR-LEVEL PERSPECTIVE ON PRODUCTIVITY TRENDS IN ADVANCED ECONOMIES TECHNICAL APPENDIX Prepared by Era Dabla-Norris, Si Guo, Minsuk Kim, and Aleksandra Zdzienicka

More information

Innovation and Top Income Inequality

Innovation and Top Income Inequality Philippe Aghion (Harvard) Ufuk Akcigit (Chicago) Antonin Bergeaud (Bank of France) Richard Blundell (UCL) David Hémous (Zurich) July 2015 Aghion, Akcigit, Bergeaud, Blundell, Hémous Innovation () and Top

More information

Kjetil Storesletten. April 20, 2015

Kjetil Storesletten. April 20, 2015 Kjetil Storesletten April 20, 2015 Department of Economics e-mail:kjetil.storesletten@econ.uio.no University of Oslo homepage: http://folk.uio.no/kjstore P.O. Box 1095 Blindern Phone: +47-228-44-009 N-0317

More information

Courses taught in English in the Faculty of Business Administration, Economics, Management Information Systems and Real Estate Course Descriptions

Courses taught in English in the Faculty of Business Administration, Economics, Management Information Systems and Real Estate Course Descriptions Akademisches Auslandsamt/ International Office Courses taught in English in the Faculty of Business Administration, Economics, Management Information Systems and Real Estate Course Descriptions (November

More information

14.452 Economic Growth: Lecture 11, Technology Diffusion, Trade and World Growth

14.452 Economic Growth: Lecture 11, Technology Diffusion, Trade and World Growth 14.452 Economic Growth: Lecture 11, Technology Diffusion, Trade and World Growth Daron Acemoglu MIT December 2, 2014. Daron Acemoglu (MIT) Economic Growth Lecture 11 December 2, 2014. 1 / 43 Introduction

More information

The Scale and Selectivity of Foreign-Born PhD Recipients in the US. Gordon Hanson, UC San Diego and NBER (*) January 2013

The Scale and Selectivity of Foreign-Born PhD Recipients in the US. Gordon Hanson, UC San Diego and NBER (*) January 2013 The Scale and Selectivity of Foreign-Born PhD Recipients in the US Jeffrey Grogger, University of Chicago and NBER Gordon Hanson, UC San Diego and NBER (*) January 2013 Abstract. In this paper we study

More information

outline of the presentation...

outline of the presentation... a world of science fiction? social and economic Higher Education in the 21 st Century: Opportunities and Challenges Jamil Salmi Hong Kong, 6 April 2011 progress is achieved principally through the advancement

More information

Modern Sectors vs. Traditional Sectors and Economic Growth

Modern Sectors vs. Traditional Sectors and Economic Growth Modern Sectors vs. Traditional Sectors and Economic Growth Joseph Zeira Hebrew University and CEPR Hosny Zoabi Tel Aviv University Abstract This paper presents a theory of how sectors are endogenously

More information

Curriculum Vitae. 2009-2013 Director, Research Department - Financial Stability, Norges Bank

Curriculum Vitae. 2009-2013 Director, Research Department - Financial Stability, Norges Bank Curriculum Vitae Name: Qaisar Farooq AKRAM E-mail: farooq.akram@norges-bank.no; Tel: +47 22316692 Positions 2013- Director, Norges Bank Research 2009-2013 Director, Research Department - Financial Stability,

More information

TRADE, GROWTH AND THE SIZE OF COUNTRIES

TRADE, GROWTH AND THE SIZE OF COUNTRIES Chapter 23 TRADE, GROWTH AND THE SIZE OF COUNTRIES ALBERTO ALESINA Harvard University, CEPR and NBER ENRICO SPOLAORE Tufts University ROMAIN WACZIARG Stanford University, CEPR and NBER Contents Abstract

More information