We study the properties of eigenvalues and eigenvectors of the generator $T_{n,\epsilon,\phi}$ of the $\tau_{\epsilon,\phi}$ algebra.
We study how innovation and technology diffusion interact to endogenously determine the shape of the productivity distribution and generate aggregate growth.
We study how opening to trade affects economic growth in a model where heterogeneous firms can adopt new technologies already in use by other firms in their home country.
Will fast growing emerging economies sustain rapid growth rates until they "catch-up" to the technology frontier? Are there incentives for some developed countries to free-ride off of innovators and optimally "fall-back" relative to the frontier? …
The least productive agents in an economy can be vital in generating growth by spurring technology diffusion. We develop an analytically tractable model in which growth is created as a positive externality from risk taking by firms at the bottom of …