Shifts in the aggregate production function have long been studied by economists. Solow (1957) first classified these shifts as technical changes that can encompass slowdowns, speedups or improvements in the education of the labor force. Solow showed that these technical changes were factor-neutral from 1909-1949. Shifts in the production function are neutral if they leave the marginal rate of ...

This paper reviews the literature on foreign direct investment (FDI), productivity, and technology upgrading, with a focus macroeconomic microeconomic models. It compares performance of various models used to study FDI its effects firms’ via skill offshoring, institutional quality, other related factors. review highlights differences similarities between models, their empirical strategies, abil...

The paper presents two new results for the Dasgupta-Heal-Solow-Stiglitz model with an essential nonrenewable resource: (1) the pattern of resource extraction can be more important for sustainable growth than the pattern of saving when the Hotelling Rule modifier is not small enough; (2) the qualitative behavior of the long-run per capita output can be examined along any smooth enough path of ex...

Over the past decade, the relationship between IT and performance has been one of the most actively researched topics in MIS. Since Robert Solow quipped that “You can see the computer age everywhere but in the productivity statistics,” over 50 empirical studies have investigated IT’s impacts on productivity and performance. These studies have been motivated by the economic paradox implicit in S...

Empirical work on cross-country growth has focussed almost exclusively on the speed of convergence to steady state and the variations in steady state levels. This paper examines the estimated long-run growth rate, i.e. the rate of steady state growth, in a Solow growth model. All estimates of common world steady state growth are shown to be zero or significantly negative under the null model. T...

Stiglitz (Econometrica 37 (1969) 382) shows income convergence in a many-agent Solow growth model with integrated capital markets (ICM). The many-agent Ramsey model (MARM) without ICM also gives income convergence. With a MARM, equal discount rates, and ICM, convergence of incomes (as opposed to product per capita) cannot occur. These results depend upon fixed saving propensities (Stiglitz) or ...