The nonrivalry of ideas gives rise to increasing returns, a fact celebrated in Paul Romer's
recent Nobel Prize. An implication is that the long-run rate of economic growth is the product …

In this review, we argue that the Schumpeterian growth paradigm, which models growth as
resulting from innovations involving creative destruction, sheds light on several aspects of …

Long-run growth in many models is the product of two terms: the effective number of
researchers and their research productivity. We present evidence from various industries …

The development of green energy is an important tool to balance economic growth and
environmental protection. Using 27,043 data observations from A-share listed companies on …

Reducing the emissions of greenhouse gases may be almost impossible without a green
transition—a substantial transformation of consumption and production patterns. To study …

Growth has fallen in the US amid a rise in firm concentration. Market share has shifted to low
labour share firms, while within-firm labour shares have actually risen. We propose a theory …

This paper offers a unified explanation for the slowdown of productivity growth, the decline in
business dynamism, and the rise of market power. Using a quantitative framework, I show …

In this article, we use cross-state panel and cross-US commuting-zone data to look at the
relationship between innovation, top income inequality and social mobility. We find positive …

We propose a new measure of the economic importance of each innovation. Our measure
uses newly collected data on patents issued to US firms in the 1926 to 2010 period …

This study provides a new theoretical result that a decline in the long‐term interest rate can
trigger a stronger investment response by market leaders relative to market followers …