#1998-020A "R&D Spending and Cyclical Fluctuations: Putting the 'Technology' in Technology Shocks"
by Alison Butler, and Michael R. Pakko
September 1998

We examine the dynamic properties of an endogenous growth model with an explicit R&D sector in order to evaluate its ability to propagate temporary disturbances into persistent fluctuations in macroeconomic variables. We demonstrate that a large proportion of the variability and persistence of measured Solow residuals can be thought of as reflecting the endogenous accumulation and adaptation of technical knowledge rather than simply exogenous processes. More...

#1994-022B "Product Cycles, Innovation and Relative Wages in European Countries"
by Alison Butler, and Michael J. Dueker


This paper attempts to bridge the gap between the theoretical literature examining how innovation affects income across countries and the empirical literature examining how relative wages within a country change over time. We test the hypothesis that the relative wage between workers in high-and low-technology industries within a country is a function of the rate of domestic innovation and innovation abroad. More...

PUBLISHED: Journal of International Economics, as

#1991-002B "Nonlinearity and Chaos in Economic Models:Implications for Policy Decisions"
by James B. Bullard, and Alison Butler
July 1991
Revised August 1992

This survey paper discusses the policy implications that can be expected from the recent research on nonlinearity and chaos in economic models. Expected policy implications are interpreted as a driving force behind the recent proliferation of research in this area. More...

PUBLISHED: Economic Journal, July 1998

#1990-007A "Endogenous Innovation in a North-North Model of the Product Cycle."
by Alison Butler


This paper examines the effect of endogenous innovation in a North-North model of the product cycle. Innovation is a dynamic process that requires labor to b employed in research and development for innovation to occur. More...