Equilibrium Concepts for Social Interaction (2001)
Lawrence Blume, Steven Durlauf
To Come Correspondent: Professor Lawrence Blume Department of Economics Uris Hall Cornell University Ithaca, NY 14853 1
Welfare Policy and Endogenous Selective Norms (1998)
W. Allen, Edward J. Bird, Steven Durlauf, All L. Calvert, Andrew Dick
Universal norms, such as the requirement to work for self-support, are applied equally to rich and poor. Selective norms, such as the stigma attached to lone parenthood, seem to be imposed more...
Jones, Charles I., Philippe Aghion, Steven Durlauf
Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to...
Solow, Robert M., Philippe Aghion, Steven Durlauf
This note contains some general and idiosyncratic reflections on the current state of neoclassical growth theory. It expresses some surprise at the lack of attention both to multi-sector growth...
Neoclassical Models of Endogenous Growth: The Effects of Fiscal Policy, Innovation and Fluctuations
Jones, Larry E., Manuelli, Rodolfo E., Philippe Aghion, Steven Durlauf
Despite its role as the centerpiece of modern growth theory, the Solow model is decidedly silent on some of its basic questions: Why is average growth in per capita income so much higher now than it...
Growth with Quality-Improving Innovations: An Integrated Framework
Aghion, Philippe, Howitt, Peter, Philippe Aghion, Steven Durlauf
In this chapter we argue that the endogenous growth model with quality-improving innovations provides a framework for analyzing the determinants of long-run growth and convergence that is versatile,...
Horizontal Innovation in the Theory of Growth and Development
Gancia, Gino, Zilibotti, Fabrizio, Philippe Aghion, Steven Durlauf
We analyze recent contributions to growth theory based on the model of expanding variety of Romer [Romer, P. (1990). "Endogenous technological change". Journal of Political Economy 98, 71-102]. In...
From Stagnation to Growth: Unified Growth Theory
Galor, Oded, Philippe Aghion, Steven Durlauf
The transition from stagnation to growth and the associated phenomenon of the great divergence have been the subject of an intensive research in the growth literature in recent years. The discrepancy...
Azariadis, Costas, Stachurski, John, Philippe Aghion, Steven Durlauf
This survey reviews models of self-reinforcing mechanisms that cause poverty to persist. Some of them examine market failure in environments where the neoclassical assumptions on markets and...
Institutions as a Fundamental Cause of Long-Run Growth
Acemoglu, Daron, Johnson, Simon, Robinson, James A., Philippe Aghion, Steven Durlauf
This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental cause of differences in economic development. We first document the empirical...
Growth Theory through the Lens of Development Economics
Banerjee, Abhijit V., Duflo, Esther, Philippe Aghion, Steven Durlauf
Growth theory has traditionally assumed the existence of an aggregate production function, whose existence and properties are closely tied to the assumption of optimal resource allocation within each...
Durlauf, Steven N., Johnson, Paul A., Temple, Jonathan R.W., Philippe Aghion, Steven Durlauf
This paper provides a survey and synthesis of econometric tools that have been employed to study economic growth. While these tools range across a variety of statistical methods, they are united in...
Accounting for Cross-Country Income Differences
Caselli, Francesco, Philippe Aghion, Steven Durlauf
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It...
Accounting for Growth in the Information Age
Jorgenson, Dale W., Philippe Aghion, Steven Durlauf
The "killer application" of the new framework for productivity measurement presented in this paper is the impact of information technology (IT) on economic growth. A consensus has emerged that the...
Klenow, Peter J., Rodriguez-Clare, Andres, Philippe Aghion, Steven Durlauf
Externalities play a central role in most theories of economic growth. We argue that international externalities, in particular, are essential for explaining a number of empirical regularities about...
Finance and Growth: Theory and Evidence
Levine, Ross, Philippe Aghion, Steven Durlauf
This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample...
Human Capital and Technology Diffusion
Benhabib, Jess, Spiegel, Mark M., Philippe Aghion, Steven Durlauf
This paper generalizes the Nelson-Phelps catch-up model of technology diffusion. We allow for the possibility that the pattern of technology diffusion can be exponential, which would predict that...
Rodrik, Dani, Philippe Aghion, Steven Durlauf
This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical...
National Policies and Economic Growth: A Reappraisal
Easterly, William, Philippe Aghion, Steven Durlauf
The new growth literature, using both endogenous growth and neoclassical models, has generated strong claims for the effect of national policies on economic growth. Empirical work on policies and...
Long-Term Economic Growth and the History of Technology
Mokyr, Joel, Philippe Aghion, Steven Durlauf
Modern economic growth started in the West in the early nineteenth century. This survey discusses the precise connection between the Industrial Revolution and the beginnings of growth, and connects...
Jovanovic, Boyan, Rousseau, Peter L., Philippe Aghion, Steven Durlauf
A general purpose technology or GPT is a term coined to describe a new method of producing and inventing that is important enough to have a protracted aggregate impact. Electricity and information...
Technological Progress and Economic Transformation
Greenwood, Jeremy, Seshadri, Ananth, Philippe Aghion, Steven Durlauf
Growth theory can go a long way toward accounting for phenomena linked with U.S. economic development. Some examples are:(i) the secular decline in fertility between 1800 and 1980,(ii) the decline in...
The Effects of Technical Change on Labor Market Inequalities
Hornstein, Andreas, Krusell, Per, Violante, Giovanni L., Philippe Aghion, Steven Durlauf
In this chapter we inspect economic mechanisms through which technological progress shapes the degree of inequality among workers in the labor market. A key focus is on the rise of U.S. wage...
A Unified Theory of the Evolution of International Income Levels
Parente, Stephen L., Prescott, Edward C., Philippe Aghion, Steven Durlauf
This chapter develops a theory of the evolution of international income levels. In particular, it augments the Hansen-Prescott theory of economic development with the Parente-Prescott theory of...
A Global View of Economic Growth
Ventura, Jaume, Philippe Aghion, Steven Durlauf
This paper integrates in a unified and tractable framework some of the key insights of the field of international trade and economic growth. It examines a sequence of theoretical models that share a...
Trade, Growth and the Size of Countries
Alesina, Alberto, Spolaore, Enrico, Wacziarg, Romain, Philippe Aghion, Steven Durlauf
Normally, economists take the size of countries as an exogenous variable. Nevertheless, the borders of countries and their size change, partially in response to economic factors such as the pattern...
Henderson, J. Vernon, Philippe Aghion, Steven Durlauf
This chapter on urbanization and growth focuses on modeling and empirical evidence that pertain to a number of inter-related questions. Why do cities form in an economy, with so much of economic...
Inequality, Technology and the Social Contract
Benabou, Roland, Philippe Aghion, Steven Durlauf
The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to...
Durlauf, Steven N., Fafchamps, Marcel, Philippe Aghion, Steven Durlauf
This chapter surveys research on social capital. We explore the concepts that motivate the social capital literature, efforts to formally model social capital using economic theory, the econometrics...
The Effect of Economic Growth on Social Structures
Bourguignon, Francois, Philippe Aghion, Steven Durlauf
Changes in social structures occurring during the process of economic growth can be considered direct consequences of this process, while other changes are caused by factors such as technological...
Economic Growth and the Environment: A Review of Theory and Empirics
Brock, William A., Taylor, M. Scott, Philippe Aghion, Steven Durlauf
The relationship between economic growth and the environment is, and will always remain, controversial. Some see the emergence of new pollution problems, the lack of success in dealing with global...
Model uncertainty and the deterrent effect of capital punishment
Ethan Cohen-Cole, Steven Durlauf, Jeffrey Fagan, Daniel Nagin
The reintroduction of capital punishment after the end of the Supreme Court moratorium has permitted researchers to employ state level heterogeneity in the use of capital punishment to study...
Special issue editors' introduction: The interface between econometrics and economic theory
Aliprantis, Charalambos D., Barnett, William A., Cornet, Bernard, Durlauf, Steven
Steven Durlauf, Marcel Fafchamps
This paper surveys research on social capital. We explore the concepts that motivate the social capital literature, efforts to formally model social capital using economic theory, the econometrics of...
Model uncertainty and policy evaluation: some theory and empirics
William Brock, Steven Durlauf, Kenneth West
This paper explores ways to integrate model uncertainty into policy evaluation. We first describe a general framework for the incorporation of model uncertainty into standard econometric...