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We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into…
Near New Year’s Eve, the urge to prognosticate is harder for a columnist to resist than a glass of champagne. For politics, I look to the…
In a Christmas gift on Dec. 25, 1991, the Soviet Union collapsed. The “evil empire,” as Ronald Reagan rightly called it, was erased from…