November 05, 2003
Economic Growth Lunch: November 5

November 5 Economic Growth Lunch: From: Richard Kingsley Crump crump@econ.Berkeley.EDU To: delong@econ.Berkeley.EDU cc: crump@econ.Berkeley.EDU Subject: growth lunch Status: These three are the main papers i will discuss. I will try and pepper the discussion with other observations as well, but these will provide the basic framework. Please email me if you have any criticisms, advice, suggestions, aphorisms, reservations, palindromes etc. Blanchard, O. Bubbles, Liquidity Traps, and Monetary Policy, Manuscript, Feb. 2000 Bernanke, Ben, and Mark Gertler "Monetary Policy and Asset Price Volatility," in Federal Reserve Bank of Kansas City, New Challenges for Monetary Policy, (1999), pp.77-128. Michael Bordo and Olivier Jeanne (2002), "Boom-Busts in Asset Prices, Economic Instability, and Monetary Policy" (Cambridge: NBER Working Paper 8966, June). Godspeed, Richard...

Posted by DeLong at 10:48 AM

October 27, 2003
Economic Growth Lunch: October 29

Dean Scrimgeour will talk about Boyan Jovanovic and Peter Rousseau (2003), "General Purpose Technologies" (for the Handbook of Economic Growth). Meet in the Great Room of the Faculty Club around noon......

Posted by DeLong at 11:21 AM

October 20, 2003
Economic Growth Lunch: October 22

Meet a little before 12 on Wednesday October 22, in the Faculty Club's Great Room... Sender: To: delong@econ.Berkeley.EDU On Wednesday lunch, I intend to present the paper: Greenwood, Jeremy; Ananth Seshadri and Mehmet Yorukoglu, "Engines of Liberation", Economie d'avant garde Research Report No. 2, University of Rochester, 2003 available at: and I may present one or two ideas of my own related to the paper. Best regards, Max Elger...

Posted by DeLong at 12:08 PM

October 15, 2003
Economic Growth Lunch: October 15

Topic: "Structural Change." Speaker: Chang-Tai Hsieh Place: Faculty Club Main Dining Room Papers: Francesco Caselli and Wilbur John Coleman II (????), "The U.S. Structural Transformation and Regional Convergence: A Reinterpretation" Douglas Gollin, Stephen L. Parente, and Richard Rogerson (2001), "Structural Transformation and Cross-Country Income Differences"...

Posted by DeLong at 06:32 AM

October 07, 2003
Economic Growth Lunch: October 8

Gerard Roland, "Slow-Moving Institutions." The very informal New Growth Theory lunch will meet tomorrow, Wednesday, 11:50-1:00 (or so). Proposed place: Meet at the Faculty Club and grab one of the big tables outside....

Posted by DeLong at 08:44 AM

September 24, 2003
Economic Growth Lunch: September 24

I've committed to talk about the work of Acemoglu, Johnson, and Robinson on very long run economic growth: First paper: Daron Acemoglu, Simon Johnson, and James Robinson (2000), "The Colonial Origins of Comparative Development: An Empirical Investigation". As Mary Shirley has written, the focus of development has changed from "get your prices right" to "get your institutions right"--and Daron Acemoglu, Simon Johnson, and James Robinson have been at the forefront of this move with at least three very interesting, powerful, popular, and impressive papers. "Colonial Origins," "Reversal of Fortune, and "Atlantic Trade." Let me consider "Colonial Origins of Underdevelopment" (American Economic Review) first. Second paper: Daron Acemoglu, Simon Johnson, and James Robinson (2000), "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution". Third paper: Daron Acemoglu, Simon Johnson, and James Robinson (2002), ""The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth". McArthur Sachs: Easterlin, Richard, “Why Isn’t the Whole World Developed?” Journal of Economic History, 41, 1 (1981): 1-19. Findlay, Ronald, “The Roots of Divergence: Western Economic History in Comparative Perspective,” American Economic Review 82, 2 (1992): 158-61. Moses Abramovitz, “Catching Up, Forging Ahead, and Falling Behind,” Journal of Economic History...

Posted by DeLong at 03:46 PM

September 12, 2003
Economic Growth Lunch

My Economic Growth Wednesday Lunch page....

Posted by DeLong at 09:40 AM

Economic Growth Lunch: September 17

For the September 17 Economic Growth Lunch. 11:45 AM. Meet in the Berkeley Faculty Club main dining room. Hi Brad, Here's some reading for my lunch presentation. Could you pass it along to the group? I will talk about some additional work I am doing on my health & technology project: Interesting motivation (note pdf link at upper right): Notice the key role played by Medicare and Medicaid... Background reading: "Why Have Health Expenditures as a Share of GDP Risen So Much?" Thanks! Chad [Jones]...

Posted by DeLong at 09:37 AM

September 09, 2003
Growth Lunch Talk

I'm supposed to give a very informal talk about American productivity growth at the inaugural growth lunch tomorrow. Here is my handout. Eighteen months ago I would have been pretty confident about what to say. (And, indeed, I said it.) I would have said that the information technology revolution had attained critical mass, and was boosting American prosperity through three channels: Faster productivity growth meant that the labor market could deliver sustained wage increases no greater than the productivity-warranted rate of real wage growth at a lower unemployment rate, and thus that the infotech revoution had reduced the economy's natural rate of unemployment--perhaps by as much as two percentage points. Outstanding productivity growth in the making of infotech products was boosting economy-wide productivity growth by the rate of leading-sector productivity growth times the share of economy-wide total expenditure spent on infotech products. Outstanding productivity growth in infotech boosts economy-wide productivity growth by a further important channel: cheap infotech capital goods raise the economy's capital intensity and boost productivity growth by the rate of leading-sector productivity growth times the quotient of the infotech production-function share divided by labor's production-function share. But the past year and a half's data have been really...

Posted by DeLong at 08:30 PM