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Eigenvalues and Eigenvectors of Tau Matrices with Applications to Markov Processes and Economics

In the context of matrix displacement decomposition, Bozzo and Di Fiore introduced the so-called $\tau_{\epsilon,\phi}$ algebra, a generalization of the more known $\tau$ algebra originally proposed by Bini and Capovani. We study the properties of …

Reconciling Models of Diffusion and Innovation: A Theory of the Productivity Distribution and Technology Frontier

We study how innovation and technology diffusion interact to endogenously determine the shape of the productivity distribution and generate aggregate growth.

Equilibrium Technology Diffusion, Trade, and 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.

Catch-up and fall-back through innovation and imitation

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? …

Equilibrium Imitation and Growth

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 …