This paper provides a time-series analysis of recent annual estimates of real GDP and industrial output covering 1270 to 1913. We show that growth can be regarded as a segmented trend stationary process. On this basis, we find that trend growth of real GDP per person was zero prior to the 1660s but then experienced two significant accelerations, preand post-industrial revolution. We also find t...

This paper examines the costs and bene ̄ts of government control of enterprises in transition, using a large survey of Chinese state enterprises. We ̄nd that tighter government control causes more unpro ̄table production and more surplus employment and thus tends to distort more severely enterprises' economic decisions. However, tighter government control also tends to reduce agency costs by forc...

I adopt the distribution dynamics framework to study labor productivity convergence, in the period 1980-1995, among 28 developed and developing countries, in different manufacturing sub-sectors, identified, as according their technological content into Resource Based, Low Technology, Medium Technology and High Technology. I find that, exception made for High Technology and Manufacturing as a wh...

This paper considers the problem of how to construct price indexes on a panel data set. First a suitable panel data set is constructed by merging Eurostat’s Harmonized Index of Consumer Prices (HICP) with a cross-section of OECD data. Second, seven different methods for constructing price indexes on a panel are proposed. These are then applied to the merged HICP/OECD data set. Temporal and spat...

We study the importance of input-output (IO) linkages and sectoral productivity (TFP) in determining cross-country income differences. find that while highly connected sectors are more productive than typical sector poor countries, opposite is true rich ones. To assess quantitative role TFP differences differences, we decompose variation using a multisector general equilibrium model. IO substan...

What are the prospects for long-run economic growth? One prominent line of thinking is trend toward stagnation. Stagnationism has a long history in economics, beginning prominently with Malthus and occasionally surfacing different guises. Prominent themes here following: Will growth slow perhaps even reverse under weight resource depletion? overpopulation diminishing returns lower living standa...

We show that in microdata, as well a search and matching model with flexible wages for new hires, wage rigidities of incumbent workers have substantial effects on separations unemployment volatility. Allowing an empirically relevant degree drives volatility the vacancies tightness to data. Thus, rigidity newly hired is not sufficient statistic determining effect macroeconomic outcomes. This fin...

The following are highlights from the new series, Circulation: Cardiovascular Interventions Topic Review. This series will summarize the most important manuscripts, as selected by the editors, that have published in the Circulation portfolio. The objective of this new series is to provide a concise review of significant papers that are relevant to interventional cardiology. The studies included...

The following are highlights from the new series, Circulation: Cardiovascular Interventions Topic Review. This series will summarize the most important manuscripts, as selected by the editors, that have published in the Circulation portfolio. The objective of this new series is to provide a concise review of significant papers that are relevant to interventional cardiology. The studies included...

The following are highlights from the new series, Circulation: Cardiovascular Interventions Topic Review. This series will summarize the most important manuscripts, as selected by the editors, that have published in the Circulation portfolio. The objective of this new series is to provide a concise review of significant papers that are relevant to interventional cardiology. The studies included...