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Keywords:economic growth 

Journal Article
Raising Innovators

Research Spotlight on "Who Becomes an Inventor in America? The Importance of Exposure to Innovation." Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova, and John Van Reenen. Quarterly Journal of Economics, May 2019, vol. 134, no. 2, pp. 647?713.
Econ Focus , Issue 1Q , Pages 7-7

Newsletter
The Global Diffusion of Ideas and Its Impact on Productivity and Growth

Economic growth often comes hand in hand with the growth of trade. However, according to quantitative models that rely on standard static mechanisms, the gains from trade are fairly small. This article introduces a model to study the diffusion of ideas across countries as a means of increasing productivity and provides a quantitative assessment of the role of trade in the transmission of knowledge.
Chicago Fed Letter

Working Paper
The S-curve: Understanding the Dynamics of Worldwide Financial Liberalization

Using a novel database of domestic financial reforms in 90 countries from 1973 to 2014, we document that global financial liberalization followed an S-curve path: reforms were slow and gradual in early periods, accelerated during the 1990s, and slowed down after 2000. We estimate a learning model that explains these dynamics. Policymakers updated their beliefs about the growth effects of financial reforms by learning from their own and other countries' experiences. Positive growth surprises in advanced economies helped accelerate belief updating worldwide, leading to the global wave of ...
FRB Atlanta Working Paper , Paper 2021-19

Speech
Monetary Policy and the Economic Outlook

Remarks at Euromoney Real Return XIII: The Inflation-Linked Products Conference 2019, New York City.
Speech , Paper 328

Journal Article
How Long Do Rising Temperatures Affect Economic Growth?

How might rising temperatures around the world affect the growth rate of GDP per person? Examining data across countries over the past half-century shows that a change in temperature affects GDP growth, but only temporarily. Combining estimates from past data with a simple growth model can help project the impacts of future higher temperatures on GDP per person by country. These projections suggest that total global losses in output per person could be substantial, though smaller than if a given change in temperature had a permanent effect on GDP growth.
FRBSF Economic Letter , Volume 2023 , Issue 15 , Pages 6

Speech
The economic outlook and implications for monetary policy

Remarks before the New York Association for Business Economics, New York City.
Speech , Paper 136

Working Paper
From Population Growth to TFP Growth

A slowdown in population growth causes a decline in business dynamism by increasing the share of old businesses. But how does it affect productivity growth? We answer this question by extending a standard firm dynamics model to include endogenous productivity growth. Theoretically, the growth rate of the size of surviving old businesses is a “sufficient statistic" for determining the direction and magnitude of the impact of population growth on TFP growth. Quantitatively, this effect is significant across balanced growth paths for the United States and Japan. TFP growth in the United States ...
Working Papers , Paper 2023-006

Speech
The Intrinsic Value of Inclusive Growth

Philadelphia Fed President Patrick Harker outlined the goals of the Bank?s Economic Growth & Mobility Project during his keynote address to the Pennsylvania Economic Association?s annual meeting in Reading, PA. ?Inclusive growth is good for the overall economy,? he said
Speech , Paper 134

Speech
Updates on the Economy and the Federal Reserve’s Payments System Improvement Initiative 03-30-2017 Tenth Annual Risk Conference: “Promise and Peril: Managing the Uncertainty of Rapid Innovation and a Changing Economy”, Co-hosted by the Federal Reserve Bank of Chicago and DePaul University’s Center for Financial Services, Chicago, IL

Technological change is very apparent in the payments system. This morning, I will focus a large portion of my remarks on an initiative that the Federal Reserve is leading to address the rapidly changing landscape in the payments industry in the U.S. This initiative is a collaborative effort between the Fed and a broad array of private-sector participants, and aims to improve the speed, efficiency, security, and ubiquity of the U.S. payments system. I am happy to say that the effort has made significant progress and that several important milestones will be reached this year. But before I ...
Speech , Paper 81

Journal Article
Mortality and Economic Growth

Countries with higher economic growth had, on average, higher growth in their crude death rates.
Economic Synopses , Issue 30 , Pages 1-3

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