Tfp

Susanto Basu · John Fernald · Miles Kimball

This 2006 *American Economic Review* paper (circulated as NBER Working Paper 10592, June 2004) asks a question its own abstract answers in one word -- "Yes" -- are technology improvements …

Craig Burnside · Martin Eichenbaum

This 1994 NBER working paper (published in the *American Economic Review*, December 1996, 86(5): 1154-1174) asks whether letting firms vary how intensively they use their existing capital stock -- a …

Charles I. Jones

This Handbook of Economic Growth survey chapter lays out why treating ideas -- nonrivalrous instructions or recipes, as distinct from the rivalrous "objects" that embody them -- as a distinct input to …

Jeremy Greenwood · Zvi Hercowitz · Per Krusell

This paper asks how much of postwar U.S. economic growth came from investment-specific technological change -- cheaper, more efficient new equipment -- as opposed to ordinary (Hicks-neutral) …

Chang-Tai Hsieh · Peter J. Klenow

In a monopolistic-competition model with heterogeneous firms, a plant's revenue productivity should be equalised within an industry unless the plant faces distortions -- so the dispersion of revenue …

Silvia Miranda-Agrippino · Sinem Hacıoğlu-Hoke · Kristina Bluwstein

This paper constructs an instrumental variable for technology news shocks using patent applications, relaxing all identifying assumptions traditionally used in the news-shock literature. The IV is the …

Susanto Basu · John G. Fernald

This 1997 *Journal of Political Economy* paper (circulated as Federal Reserve International Finance Discussion Paper 546, March 1995) asks how large deviations from constant returns to scale and …

Robert M. Solow

Robert Solow's 1957 paper proposes a simple method for separating shifts in the aggregate production function ("technical change," broadly defined) from movements along it caused by capital …

Robert B. Barsky · Jeffrey A. Miron

This 1989 Journal of Political Economy paper by Robert Barsky and Jeffrey Miron argues that the seasonal fluctuations ordinarily filtered out of macroeconomic data before business-cycle analysis …