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Keywords:Economic growth 

Working Paper
Innovation and Trade Policy in a Globalized World

How do import tariffs and R&D subsidies help domestic firms compete globally? How do these policies affect aggregate growth and economic welfare? To answer these questions, we build a dynamic general equilibrium growth model where firm innovation endogenously determines the dynamics of technology, market leadership, and trade flows, in a world with two large open economies at different stages of development. Firms? R&D decisions are driven by (i) the defensive innovation motive, (ii) the expansionary innovation motive, and (iii) technology spillovers. The theoretical investigation illustrates ...
International Finance Discussion Papers , Paper 1230

Speech
Economic erowth and monetary policy: Is there a new normal?

The George Washington University and Princeton University's Griswold Center for Economic Policy Studies Philadelphia, PA President Charles Plosser gives his views on the debate about a new normal for economic growth in the U.S. economy. He will also discuss the question of future productivity growth and highlight research in this area.
Speech , Paper 107

Conference Paper
General discussion: balancing growth with equity: the view from development

Proceedings - Economic Policy Symposium - Jackson Hole

Conference Paper
Balancing growth with equity: the view from development

Proceedings - Economic Policy Symposium - Jackson Hole

Working Paper
Productivity and potential output before, during, and after the Great Recession

This paper makes four points about the recent dynamics of productivity and potential output. First, after accelerating in the mid-1990s, labor and total-factor productivity growth slowed after the early to mid 2000s. This slowdown preceded the Great Recession. Second, in contrast to some informal commentary, productivity performance during the Great Recession and early in the subsequent recovery was roughly in line with previous experience during deep recessions. In particular, the evidence suggests substantial labor and capital hoarding. During the recovery, measures of factor utilization ...
Working Paper Series , Paper 2012-18

Journal Article
President's message: The limits of limiting financial innovation

Econ Focus , Volume 16 , Issue 1Q , Pages 1

Conference Paper
Achieving growth amid fiscal imbalances: the real effects of debt

Proceedings - Economic Policy Symposium - Jackson Hole

Speech
The role of monetary policy in bolstering economic growth

Presentation to the University of San Francisco Center for the Pacific Rim, San Francisco, California, November 14, 2012
Speech , Paper 114

Journal Article
Why aren't all countries rich? Economist have long studied how countries develop, but that work hasn't led to growth for much of the world

Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q2/feature3_weblinks.cfm
Econ Focus , Volume 15 , Issue 2Q , Pages 23-27

Working Paper
International reserves and rollover risk

Two striking facts about international capital flows in emerging economies motivate this paper: (1) Governments hold large amounts of international reserves, for which they obtain a return lower than their borrowing cost. (2) Purchases of domestic assets by nonresidents and purchases of foreign assets by residents are both procyclical and collapse during crises. We propose a dynamic model of endogenous default that can account for these facts. The government faces a trade-off between the benefits of keeping reserves as a buffer against rollover risk and the cost of having larger gross debt ...
Working Paper , Paper 13-01

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Belka, Marek 3 items

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