Replication data for: The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital
Principal Investigator(s): View help for Principal Investigator(s) Charles I. Jones; Paul M. Romer
Version: View help for Version V1
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Project Citation:
Jones, Charles I., and Romer, Paul M. Replication data for: The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114166V1
Project Description
Summary:
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In 1961, Nicholas Kaldor highlighted six "stylized" facts to summarize
the patterns that economists had discovered in national income accounts and to shape the growth models being developed to explain them. Redoing this exercise today shows just how much progress we have made. In contrast to Kaldor's facts, which revolved around a single state variable, physical capital, our updated facts force consideration
of four far more interesting variables: ideas, institutions, population, and human capital. Dynamic models have uncovered subtle interactions among these variables, generating important insights about such big questions as: Why has growth accelerated? Why are there gains from trade? (JEL D01, E01, E22, E23, E24, J11)
Scope of Project
JEL Classification:
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D01 Microeconomic Behavior: Underlying Principles
E01 Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
D01 Microeconomic Behavior: Underlying Principles
E01 Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
E22 Investment; Capital; Intangible Capital; Capacity
E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
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