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