Results

CEP discussion paper

A theory of endogenous degrowth and environmental sustainability

We develop and quantify a growth theory where consumers' preferences are defined over products with varying environmental impacts. Preferences are non-homothetic: Necessities are intensive in material inputs whose produc...Read more...

Journal article

The Review of Economic Studies:

A theory of falling growth and rising rents

Growth has fallen in the U.S. amid a rise in firm concentration. Market share has shifted to low labour share firms, while within-firm labour shares have actually risen. We propose a theory linking these trends in which ...Read more...

CEP discussion paper

Missing growth from creative destruction

Statistical agencies typically impute inflation for disappearing products based on surviving products, which may result in overstated inflation and understated growth. Using U.S. Census data, we apply two ways of assessi...Read more...