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Romer, Paul Michael 1955-

Overview
Works: 88 works in 280 publications in 2 languages and 1,546 library holdings
Genres: Patents  History  Academic theses  Rules 
Roles: Author, Editor, Other
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Most widely held works about Paul Michael Romer
 
Most widely held works by Paul Michael Romer
Wages, skills, and technology in the United States and Canada by Kevin M Murphy( Book )

15 editions published between 1997 and 1998 in English and held by 119 WorldCat member libraries worldwide

Wages for more- and less-educated workers have followed strikingly different paths in the U.S. and Canada. During the 1980's and 1990's, the ratio of earnings of university graduates to high school graduates increased sharply in the U.S. but fell slightly in Canada. Katz and Murphy (1992) found that for the U.S. a simple supply-demand model fit the pattern of variation in the premium over time. We find that the same model and parameter estimates explain the variation between the U.S. and Canada. In both instances, the relative demand for more-educated labor shifts out at the same, consistent rate. Both over time and between countries, the variation in rate of growth of relative wages can be explained by variation in the relative supply of more-educated workers. Many economists suspect that technological change is causing the steady increases in the relative demand for more-educated labor. If so, these data provide independent evidence on the spatial and temporal variation in the pattern of technological change. Whatever is causing this increased demand for skill, the evidence from Canada suggest that increases in educational attainment and skills can reduce the rate at which relative wages diverge
Growth cycles by George W Evans( Book )

17 editions published in 1996 in English and held by 118 WorldCat member libraries worldwide

We construct a rational expectations model in which aggregate growth alternates between a low growth and a high growth state. When all agents expect growth to be slow, the returns on investment are low, and little investment takes place. This slows growth and confirms the prediction that the returns on investment will be low. But if agents expect fast growth, investment is high, returns are high, and growth is rapid. This expectational indeterminacy is induced by complementarity between different types of capital goods. In a growth cycle there are stochastic shifts between high and low growth states and agents take full account of these transitions. The rules that agents need to form rational expectations in this equilibrium are simple. The equilibrium with growth cycles is stable under the dynamics implied by a correspondingly simple learning rule
Why, indeed, in America? : theory, history, and the origins of modern economic growth by Paul Michael Romer( Book )

14 editions published in 1996 in English and held by 109 WorldCat member libraries worldwide

When they are used together, economic history and new growth theory give a more complete picture of technological change than either can give on its own. An empirical strategy for studying growth that does not use historical evidence is likely to degenerate into sterile model testing exercises. Historical analysis that uses the wrong kind of theory or no theory may not emphasize the lessons about technology that generalize. The complementarity between these fields is illustrated by an analysis of early industrialization. The key theoretical observation is that larger markets and larger stocks of resources create substantially bigger incentives for discovering new ways to use the resources. This simple insight helps explain why the techniques of mass production emerged in the United States during the first half of the 19th century. It also helps explain how a narrow advantage in the techniques of mass production for a small set of goods grew into broad position of industrial supremacy by the middle of the 20th century
Should the government subsidize supply or demand in the market for scientists and engineers? by Paul Michael Romer( Book )

15 editions published in 2000 in English and held by 104 WorldCat member libraries worldwide

This paper suggests that innovation policy in the United States has erred by subsidizing the private sector demand for scientists and engineers without asking whether the educational system provides that supply response necessary for these subsidies to work. It suggests that the existing institutional arrangements in higher education limit this supply response. To illustrate the path not taken, the paper considers specific programs that could increase the numbers of scientists and engineers available to the private sector
New goods, old theory, and the welfare costs of trade restrictions by Paul Michael Romer( )

13 editions published between 1993 and 1994 in English and held by 99 WorldCat member libraries worldwide

The typical economic model implicitly assumes that the set of goods in an economy never changes. As a result, the predicted efficiency loss from a tariff is small, on the order of the square of the tariff rate. If we loosen this assumption and assume that international trade can bring new goods into an economy, the fraction of national income lost when a tariff is imposed can be much larger, as much as two times the tariff rate. Much of this paper is devoted to explaining why this seemingly small change in the assumptions of a model can have such important positive and normative implications. The paper also asks why the implications of new goods have not been more extensively explored, especially given that the basic economic issues were identified more than 150 years ago. The mathematical difficulty of modeling new goods has no doubt been part of the problem. An equally, if not more important stumbling block has been the deep philosophical resistance that humans feel toward the unavoidable logical consequence of assuming that genuinely new things can happen at every juncture: the world as we know it is the result of a long string of chance outcomes
Insurance and incentives for medical innovation by Alan M Garber( )

10 editions published in 2006 in English and held by 80 WorldCat member libraries worldwide

This paper studies the interactions between health insurance and the incentives for innovation. Although we focus on pharmaceutical innovation, our discussion applies to other industries producing novel technologies for sale in markets with subsidized demand. Standard results in the growth and productivity literatures suggest that firms in many industries may possess inadequate incentives to innovate. Standard results in the health literature suggest that health insurance leads to the overutilization of health care. Our study of innovation in the pharmaceutical industry emphasizes the interaction of these incentives. Because of the large subsidies to demand from health insurance, limits on the lifetime of patents and possibly limits on monopoly pricing may be necessary to ensure that pharmaceutical companies do not possess excess incentives for innovation
Economic integration and endogenous growth by Luis Rivera-Batiz( )

8 editions published in 1990 in English and held by 76 WorldCat member libraries worldwide

In a world with two similar, developed economies, economic integration can cause a permanent increase in the worldwide rate of growth. Starting from a position of isolation, closer integration can be achieved by increasing trade in goods or by increasing flows of ideas. We consider two models with different specifications of the research and development sector that is the source of growth. Either form of integration can increase the long-run rate of growth if it encourages the worldwide exploitation of increasing returns to scale in the research and development sector
International trade with endogenous technological change by Luis Rivera-Batiz( )

7 editions published between 1991 and 1992 in English and held by 71 WorldCat member libraries worldwide

To explain why trade restrictions sometimes speed up worldwide growth and sometimes slow it down, we exploit an analogy with the theory of consumer behavior. substitution effects make demand curves slope down, but income effects can increase or decrease the slope, and can sometimes overwhelm the substitution effect. We decompose changes in the worldwide growth rate into two effects (integration and redundancy) that unambiguously slow down growth, and a third effect (allocation) that can either speed it up or slow it down. We study two types of trade restrictions to illustrate the use of this decomposition. The first is across the board restrictions on traded goods in an otherwise perfect market. The second is selective protection of knowledge-intensive goods in a world with imperfect intellectual property rights. In both examples, we show that for trade between similar regions such as Europe and North America, the first two effects dominate; starting from free trade, restrictions unambiguously reduce worldwide growth
Urbanization as Opportunity by Brandon Fuller( )

5 editions published between 2013 and 2014 in English and Undetermined and held by 70 WorldCat member libraries worldwide

Urbanization deserves urgent attention from policy makers, academics, entrepreneurs, and social reformers of all stripes. Nothing else will create as many opportunities for social and economic progress. The urbanization project began roughly 1,000 years after the transition from the Pleistocene to the milder and more stable Holocene interglacial. In 2010, the urban population in developing countries stood at 2.5 billion. The developing world can accommodate the urban population growth and declining urban density in many ways. The most important citywide projects-successes like New York and Shenzhen-show even more clearly how influential human intention can be. The developing world can accommodate the urban population growth and declining urban density in many ways. One is to have a threefold increase in the average population of its existing cities and a six fold increase in their average built-out area. Another, which will leave the built-out area of existing cities unchanged, will be to develop 625 new cities of 10 million people-500 new cities to accommodate the net increase in the urban population and another 125 to accommodate the 1.25 billion people who will have to leave existing cities as average density falls by half
Human capital and growth : theory and evidence by Paul Michael Romer( )

8 editions published in 1989 in English and held by 70 WorldCat member libraries worldwide

Abstract: empirical finding is that literacy has no additional explanatory power in a
Increasing returns and new developments in the theory of growth by Paul Michael Romer( )

8 editions published between 1989 and 1992 in English and held by 70 WorldCat member libraries worldwide

Abstract: tended to increase over time? Why is it that flows of capital are not
The new Kaldor facts : ideas, institutions, population, and human capital by Charles I Jones( )

8 editions published in 2009 in English and held by 70 WorldCat member libraries worldwide

In 1961, Nicholas Kaldor used his list of six "stylized" facts both to summarize the patterns that economists had discovered in national income accounts and to shape the growth models that they were developing to explain them. Redoing this exercise today, nearly fifty years later, shows how much progress we have made. In contrast to Kaldor's facts, which revolved around a single state variable, physical capital, our six updated facts force consideration of four far more interesting variables: ideas, institutions, population, and human capital. Dynamic models have uncovered subtle interactions between these variables and generated important insights about such big questions as: Why has growth accelerated? Why are there gains from trade?
Endogenous technological change by Paul Michael Romer( )

9 editions published between 1989 and 2000 in English and Undetermined and held by 69 WorldCat member libraries worldwide

Abstract: technology as an input is that it is neither a conventional good nor a public good; it is a
Which parts of globalization matter for catch-up growth? by Paul Michael Romer( )

9 editions published in 2010 in English and held by 69 WorldCat member libraries worldwide

Economists devote too much attention to international flows of goods and services and not enough to international flows of ideas. Traditional trade flows are an imperfect substitute for flows of the underlying ideas. The simplest textbook trade model shows that a welfare-enhancing move toward freer flows of ideas should be associated with a reduction in conventional trade. The large quantitative effect from the flow of ideas is evident in the second half of the 20th century as the life expectancies in poor and rich countries began to converge. Another example comes from China, where authorities dramatically reduced accident rates by adopting rules of civil aviation that were developed in the United States. All economists, including trade economists, would be better equipped to talk about international flows of technologies and rules if they adopted a consistent vocabulary based on the concepts of nonrivalry and excludability. An analysis of the interaction between rules and technologies may help explain important puzzles such as why private firms have successfully diffused some technologies (mobile telephony) but not others (safe municipal water.)
Are nonconvexities important for understanding growth? by Paul Michael Romer( )

7 editions published between 1990 and 1991 in English and held by 65 WorldCat member libraries worldwide

Abstract: the fundamental attributes of any economic good: rivalry and excludability. It also
Global economic prospects. a fragile recovery by World Bank Group( )

2 editions published in 2017 in English and held by 60 WorldCat member libraries worldwide

Global activity is firming broadly as expected. Manufacturing and trade are picking up, confidence is improving, international financing conditions remain benign, and commodity prices are stabilizing. Growth in emerging market and developing economies (EMDEs) is set to recover, as obstacles to growth in commodity exporters diminish, while activity in commodity importers remains robust. Risks to the global outlook remain tilted to the downside. These include increased trade protectionism, elevated economic policy uncertainty, the possibility of financial market disruptions, and, over the longer term, weaker potential growth. A policy priority for EMDEs is to rebuild monetary and fiscal space that could be drawn on were such risks to materialize. Over the longer term, structural policies that support investment and trade are critical to boost EMDE productivity and potential growth. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance: an analysis of fiscal positions in EMDEs and a deeper look at the type of firms most affected by post-crisis trade weakness
Ski-lift pricing : with an application to the labor market by Robert J Barro( )

9 editions published between 1986 and 1989 in English and held by 60 WorldCat member libraries worldwide

Abstract: queues to variations in demand, even when these variations are predictable
What determines the rate of growth and technological change? by Paul Michael Romer( Book )

8 editions published in 1989 in English and held by 19 WorldCat member libraries worldwide

Patents, citations, and innovations : a window on the knowledge economy by Adam B Jaffe( Book )

3 editions published between 2002 and 2005 in English and held by 12 WorldCat member libraries worldwide

Annotation
Dynamic competitive equilibria with externalities, increasing returns and unbounded growth by Paul Michael Romer( )

4 editions published in 1983 in English and held by 9 WorldCat member libraries worldwide

 
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Patents, citations, and innovations : a window on the knowledge economy
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Alternative Names
Paul M. Romer American economist

Paul M. Romer amerikansk økonom

Paul M. Romer US-amerikanischer Wirtschaftswissenschaftler

Paul Romer

Paul Romer Amerikaans econoom

Paul Romer amerikansk ekonom

Paul Romer amerikansk nationalekonom

Paul Romer amerikansk økonom

Paul Romer economist american

Paul Romer economista estadounidense

Paul Romer economista estatunidenc

Paul Romer économiste américain

Paul Romer US-amerikanischer Wirtschaftswissenschaftler

Paul Romer اقتصاددان آمریکایی

Paulus Romer

Romer, Paul

Romer, Paul 1955-

Romer, Paul M.

Romer, Paul M. 1955-

Romer, Paul M. (Paul Michael), 1955-

Пол Ромер

Пол Ромер американски економист и нобеловец

Пол Ромер американський економіст, нобелівський лауреат (2018)

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Ромер, Пол

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English (176)

German (2)