We quantify the role of population aging in structural transformation process. Household-level data from United States show that fraction expenditures devoted to services increases with household age. use a shift-share decomposition and quantitative model US accounted for about fifth observed increase service share consumption between 1982 2016. The contribution rise is same size as real income...

Population aging is expected to slow US economic growth. We use variation in the predetermined component of population across states estimate impact on growth GDP per capita for 1980–2010. find that each 10 percent increase fraction age 60+ decreased by 5.5 percent. One-third reduction arose from slower employment growth; two-thirds due labor productivity Labor compensation and wages also decli...

The goal of this study was to characterize a series of antiHer2/neu immunotoxin constructs to identify how different antibodies and linker choices affect the specificity and cytotoxicity of these proteins. We constructed a series of immunotoxins containing either the human single-chain antibody (scFv) C6.5 or the murine scFv e23 fused to the highly toxic recombinant gelonin (rGel) molecule. Bas...

Using the enteropathogenic Escherichia coli (EPEC) genome sequence, we found that EPEC E2348/69 has an lpfABCDE gene cluster homologous (about 60% identical at the protein level) to the Salmonella long polar fimbria (LPF) operon. To determine whether this operon is essential for adherence, the lpfABCD(E2)(3) genes were deleted from EPEC strain E2348/69 by allelic exchange. Analysis of the resul...

This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model endogenous heterogeneity that incorporates decisions calibrate it to match several empirical regularities across size. Our provides microfoundations empirically observed negative relationship between both R&D intensity In calibrated model, about ...

Applying the Foster, Haltiwanger, and Krizan (2001) decomposition to plant-level manufacturing data from Chile Korea, we find that entry exit of plants account for a larger fraction aggregate productivity growth during periods fast GDP growth. To analyze this relationship, develop model firm based on Hopenhayn (1992). When introduce reforms reduce costs or barriers technology adoption into cali...

We study the optimal lock-down for a planner who controls fatalities of COVID-19 while minimizing output costs lock-down. The policy prescribes severe beginning few weeks after outbreak, covering almost 50 percent population month, with total duration shy 4 months. intensity depends on gradient fatality rate respect to infected and availability antibody testing, which yields welfare gain 2 GDP....

Probably because of their interpretability and transparent nature, synthetic controls have become widely applied in empirical research economics the social sciences. This article aims to provide practical guidance researchers employing control methods. The starts with an overview introduction estimation. main sections discuss advantages framework as a design, describe settings where reliable es...

We show that business cycles reduce welfare through a decrease in the average level of employment labor market search model with learning on job and skill loss during unemployment. Empirically, unemployment job-finding rate are negatively correlated. Since new jobs product these two from transition equation, imply fewer jobs. Learning implies resulting reduces aggregate human capital. This ince...

This paper shows that the unequal incidence of recessions in labor market amplifies aggregate shocks. Using administrative data from United States, I document a positive covariance between workers' marginal propensities to consume (MPCs) and their elasticities earnings GDP, which is key moment for new class heterogeneous-agent models. define matching multiplier as increase stemming this high MP...