The purpose of this paper is to estimate changes in productivity, technical efficiency and technology across the economic sectors during the period 1985-2006. We also seek to identify the turning points for productivity growth to see whether it was accompanied by technological change and/or technical efficiency. For estimating economic growth, aggregate production function is used. We find that...

We consider an infinite-horizon general equilibrium model with heterogeneous agents and financial market imperfections. We investigate the role of dividend taxation on economic growth and asset price. The optimal dividend taxation is also studied.

This paper develops a tractable method for resolving the equity-efficiency tradeoff that modifies the Kaldor-Hicks compensation principle to account for the distortionary cost of redistribution. Weighting measures of individual surplus by the inequality deflator corresponds to searching for local Pareto improvements by making transfers through the income tax schedule. Empirical evidence consist...

National exergy efficiency analysis relates the quality of primary energy inputs to an economy with end useful work in sectoral energy uses such as transport, heat and electrical devices. This approach has been used by a range of authors to explore insights to macroscale energy systems and linkages with economic growth. However, these analyses use a variety of calculation methods with sometimes...

This paper presents a model of innovations and economic growth, which departs from earlier endogenous growth models by assuming that innovations require not only labor of innovators, but also time. Each innovation has to wait till its time comes, and speeding it up is costly. This change in assumption yields a number of important results. First, the model gives rise to patent races, where many ...

In this paper, using a production framework in which skilled and unskilled labor are imperfect substitutes, I analyze the time paths of the efficiencies of skilled and unskilled labor and their implications for economic growth and wage inequality in the US between 1950 and 2005. There are two main findings. First, I find that skilled labor efficiency has grown more slowly since the mid 1970s. S...

This article discusses the interaction between economic growth in the sense of human capital accumulation and the dynamics of inequalities. We use a mean-field game framework in which individuals improve their human capital both to improve their wages and to avoid potential competition with less skilled individuals. Our contribution is twofold. First, we exhibit a mechanism in which competition...

The size distribution of firms in each industry will usually be highly skew, and empirical evidence shows that it is approximated closely by the Pareto distribution. In this paper we make an attempt to explain why the Pareto law applies to the size distribution of firms based on their innovation and investment behavior, and then develop a model of economic growth that take into account this emp...