Recent research
Updated September 2009. This page lists recent papers that can be downloaded as PDF files, and some recently published work. For a complete list (including some downloads and data sets) see papers.
The calibration of CES production functions
When should researchers “normalize” the CES production function? Revised, October 2009.
Implementation cycles in the New Economy
(with Pasquale Scaramozzino and Nir Vulkan) We examine beliefs in Shleifer’s model of implementation cycles, and link the analysis to the New Economy boom of the 1990s. Revised, September 2008.
Convergence behaviour in exogenous growth models
(with Jochonia Mathunjwa) We study the approximations used in the study of growth and convergence, and discuss heterogeneity in convergence rates across countries and over time. New version, April 2007.
Balanced growth and the great ratios: new evidence for the US and UK
(with Cliff Attfield) A new version of a paper on the stationarity of the great ratios, and the implications of balanced growth paths for the measurement of trend output. September 2006.
Does external trade promote financial development?
(with Yongfu Huang) An empirical study of the effects of trade on finance. August 2005.
Papers that are “sleeping”
Dualism and aggregate productivity
What are the consequences of intersectoral wage differentials and urban unemployment for aggregate productivity, wages and returns to capital, factor shares, and sectoral structure? To be revised.
GMM estimation of empirical growth models
(with Stephen Bond and Anke Hoeffler) We advocate the use of system GMM to estimate growth models, rather than the more usual Arellano-Bond method.
Structural change and Europe’s Golden Age
Labour reallocation and productivity growth in post-war Europe. To be revised.
Recently published…
Macroeconomic stability and the distribution of growth rates
(with Vatcharin Sirimaneetham) When is macroeconomic instability a binding constraint on growth? World Bank Economic Review, December 2009, 23(3), 443-479.
The geography of output volatility
(with Adeel Malik) We use Bayesian methods to examine the determinants of output volatility. Journal of Development Economics, November 2009, 90(2), 163-178.
The econometrics of convergence
(with Steven N. Durlauf and Paul A. Johnson). In Terence C. Mills and Kerry Patterson (eds.) Palgrave Handbook of Econometrics, Volume 2: Applied Econometrics. Palgrave Macmillan, June 2009.
The methods of growth econometrics
(with Steven N. Durlauf and Paul A. Johnson). In Terence C. Mills and Kerry Patterson (eds.) Palgrave Handbook of Econometrics, Volume 2: Applied Econometrics. Palgrave Macmillan, June 2009.
Labor markets and productivity in developing countries
(with Mathan Satchi) A revised version of a paper on growth and labour markets. Review of Economic Dynamics, January 2009.