Search Results
Journal Article
Schumpeter in his own words
Journal Article
The churn among firms
Working Paper
Variety, globalization, and social efficiency
This paper puts recent work on the benefits of variety into the context of a more complete quantitative analysis of the Dixit-Stiglitz-Krugman model of monopolistic competition. We show how the gains from globalization are reflected in the increase in variety and the exploitation of economies of scale, and that the social efficiency question is quantitatively insignificant. These results follow from examining a Bertrand-Nash equilibrium that allows for a finite number of varieties to affect the elasticity of demand facing each firm. We develop a precise expression for per capita real income ...
Working Paper
Tax indexation and inflationary finance
Journal Article
A comprehensive new real dollar exchange rate index
Journal Article
Help wanted: a look at America's changing job market
Journal Article
Productivity gains showing up in services
Journal Article
Some pleasant economic side effects