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Growth, Trade, and Inequality
(2014)
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 ...
Optimal Capital Versus Labor Taxation with Innovation-Led Growth
(National Bureau of Economic Research Inc, 2012)
Chamley (1986) and Judd (1985) showed that, in a standard neoclassical growth model with capital accumulation and infinitely lived agents, either taxing or subsidizing capital cannot be optimal in the steady state. In this ...
Industrial Policy and Competition
(2012)
Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2007, we show that industrial policies allocated to competitive sectors or that foster competition in a sector increase productivity ...