Publications
2024
Aghion, P, Bergeaud A, Blundell R and Griffith R. Social Skills and the Individual Wage Growth of Less Educated Workers. 2024. PDF
Aghion P, Barrage L, Hemous D, Liu E. Transition to Green Technology along the Supply Chain. 2024. PDF
Aghion P, Bergeaud A, De Ridder M, Van Reenen J. Lost in Transition: Financial Barriers to Green Growth. 2024. PDF
2023
Aghion P, Bergeaud A, Lequien M, Melitz M. The Heterogeneous Impact of Market Size on Innovation: Evidence from French Firm-Level Exports. Forthcoming. PDF
Aghion P, Antonin C, Bunel S, Jaravel X. The Direct and Indirect Effects of Automation on Employment: A Survey of the Recent Literature. In Forthcoming. PDF
2022
Aghion P, Bergeaud A, Boppart T, Klenow PJ, Li H. Good Rents versus Bad Rents: R&D Misallocation and Growth. 2022. PDF
2021
Aghion P, Bergeaud A, Lequien M, Melitz M, Zuber T. Opposing Firm-Level Responses to the China Shock: Horizontal Competition versus Vertical Relationships?. 2021. PDF
Aghion P, Bergeaud A, Gigout T, Lequien M, Melitz M. Exporting Ideas: Knowledge Flows from Expanding Trade in Goods. 2021. PDF
Aghion P, Antonin C, Bunel S, Jaravel X. What Are the Labor and Product Market Effects of Automation? New Evidence from France. 2021. PDF
Aghion P, Benabou R, Martin R, Roulet A. Environmental Preferences and Technological Choices: Is Market Competition Clean or Dirty?. 2021. PDF
2020
Aghion P, Bergeaud A, Boppart T, Klenow P, Li H. A Theory of Falling Growth and Rising Rents. 2020. PDF
2019
Aghion P, Ciornohuz V, Gravoueille M, Stantcheva S. Reforms and Dynamics of Income Evidence Using New Panel Data. 2019.
Aghion P, Ciornohuz V, Gravoueille M, Stantcheva S. Anatomy of Inequality in France. 2019.
Aghion P, Bergeaud A, Gigout T, Lequien M, Melitz M. Spreading Knowledge Across the World: Innovation Spillover through Trade Expansion. 2019. PDF
Aghion P, Bergeaud A, Van Reenen J. The Impact of Regulation on Innovation. 2019. PDF
Aghion P, Bergeaud A, Blundell R, Griffith R. The Innovation Premium to Soft Skills in Low-Skilled Occupations. 2019. PDF
Acemoglu D, Aghion P, Barrage L, Hemous D. Climate Change, Directed Innovation, and Energy Transition: The Long-Run Consequences of the Shale Gas Revolution. 2019. PDF
2018
Aghion P, Farhi E, Kharroubi E. Monetary Policy, Product Market Competition, and Growth. 2018. PDF
Aghion P, Bergeaud A, Cette G, Lecat R, Maghin H. The Inverted-U Relationship Between Credit Access and Productivity Growth. 2018. PDF
Aghion P, Bergeaud A, Boppart T, Bunel S. Firm Dynamics and Growth Measurement in France. 2018. PDF
Aghion P, Akcigit U, Hyytinen A, Toivanen O. On the Returns to Invention Within Firms: Evidence from Finland [forthcoming in the AER Papers and Proceedings, May 2018]. 2018. PDF
Aghion P, Akcigit U, Hyytinen A, Toivanen O. The Social Origins and IQ of Inventors. 2018. PDF
Aghion P, Bergeaud A, Boppart T, Klenow PJ, Li H. Missing Growth from Creative Destruction. 2018. PDF
2017
Aghion P, Jones BF, Jones CI. Artificial Intelligence and Economic Growth. 2017. PDF
Aghion P, Farhi E, Kharroubi E. On the Interaction Between Monetary Policy, Corporate Balance Sheets and Structural Reforms. 2017. PDF
Aghion P, Akcigit U, Lequien M, Stantcheva S. Tax Simplicity and Heterogeneous Learning. 2017. PDF
Aghion P, Bergeaud A, Lequien M, Melitz M. The Impact of Exports on Innovation: Theory and Evidence. 2017. PDF
Aghion P, Akcigit U, Lequien M, Stantcheva S. Do Entrepreneurship and Self-Employment Respond to Simpler Fiscal Incentives? Evidence from France. 2017. PDF
2016
Aghion P, Bloom N, Lucking B, Sadun R, Van Reenen J. Turbulence, Firm Decentralization and Growth in Bad Times. 2016. PDF
Aghion P, Akcigit U, Bergeaud A, Blundell R, Hemous D. Innovation and Top Income Inequality. 2016. PDF
2015
Aghion P, Fehr E, Holden R, Wilkening T. The Role of Bounded Rationality and Imperfect Information in Subgame Perfect Implementation: An Empirical Investigation. 2015. PDF
2014
Aghion P, Jaravel X, Persson T, Rouzet D. Education and Military Rivalry. 2014. PDF
Aghion P, Jackson MO. Inducing Leaders to Take Risky Decisions: Dismissal, Tenure, and Term Limits. 2014. PDF
Aghion P, Bechtold S, Cassar L, Herz H. The Causal Effects of Competition on Innovation: Experimental Evidence. 2014. PDF
Aghion P, Kharroubi E. Monetary Policy, Financial Regulations, and Industry Growth. 2014. PDF
Aghion P, Howitt P, Prantl S. Patent Rights, Product Market Reforms, and Innovation. 2014. PDF
2013
Aghion P, Akcigit U, Howitt P. What Do We Learn From Schumpeterian Growth Theory?. 2013. PDF
2012
Aghion P, Akcigit U, Fernandez-Villaverde J. Optimal Capital versus Labor Taxation with Innovation-Led Growth. 2012. PDF
Aghion P, Fudenberg D, Holden R, Kunimoto T, Tercieux O. Subgame Perfect Implementation Under Information Perturbations. 2012. PDF
Aghion P, Farhi E, Kharroubi E. Monetary Policy, Liquidity, and Growth. 2012. PDF
Aghion P, Dewatripont M, Du L, Harrison A, Legros P. Industrial Policy and Competition. 2012. PDF
2010
Acemoglu D, Aghion P, Bursztyn L, Hemous D. The Environment and Directed Technical Change. 2010.Abstract PDF
Aghion P, Dechezlepretre A, Hemous D, Martin R, Reenen J. Carbon Taxes, Path Dependency and Directed Technical Change : Evidence from the Auto Industry. 2010. PDF
Pages
Aghion P, Fudenberg D, Holden R, Kunimoto T, Tercieux O. Subgame-Perfect Implementation Under Value Perturbations. 2010.Abstract PDF
2009
Aghion P, Boustan L, Hoxby C, Vandenbussche J. The Causal Impact of Education on Economic Growth: Evidence from U.S. 2009. PDF
Aghion P, Howitt P, Murtin F. The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps. 2009.Abstract PDF
Aghion P, Comin D, Howitt P, Tecu I. When Does Domestic Saving Matter for Economic Growth?. 2009.Abstract PDF
Aghion P, Hemous D, Kharroubi E. Credit Constraints, Cyclical Fiscal Policy and Industry Growth. 2009.Abstract PDF
Aghion P, Reenen VJ, Zingales L. Innovation and Institutional Investment. 2009.Abstract PDF
Aghion P, Algan Y, Cahuc P. Can Policy Influence Culture. 2009.
Aghion P, Dewatripont M, Kolev J, Murray F, Stern S. Of Mice and Academics. 2009.Abstract PDF
Aghion P, Algan Y, Cahuc P, Shleifer A. Distrust and Regulation. Currently revised for the Quarterly Journal of Economics. 2009. PDF
Aghion P, Dewatripont M, Hoxby C, Mas-Colell A, Sapir A. Governance and Peformance of Universities. Currently revised for Economic Policy. 2009.Abstract PDF
The Economics of Growth
Aghion P, Howitt P. The Economics of Growth. MIT Press; 2009. Publisher's Version
Aghion P, Bacchetta P, Ranciere R, Rogoff K. Exchange Rate Regimes and Productivity Growth. forthcoming in the Journal of Monetary Economics. 2009.
Aghion P, Acemoglu D, Griffith R, Zilibotti F. Vertical Integration and Technology: Theory and Evidence. forthcoming in the Journal of the European Economic Association. 2009. PDF
Aghion P, Dewatripont M, Stein J. Academic Freedom, Private Sector Focus, and the Process of Innovation. Rand Journal of Economics. 2009.Abstract PDF
Aghion P, Algan Y, Cahuc P. Civil society and the state: The interplay between cooperation and minimum wage regulation. 2009.Abstract PDF
Aghion P, Acemoglu D, Bursztyn L, Hemous D. Environment and Directed Technical Change. 2009. PDF
Aghion P, Fudenberg D, Holden TR. Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem. 2009.Abstract PDF
2008
Aghion P, Burgess R, Redding S, Zilibotti F. The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India. American Economic Review. 2008;94 (4) :1397-1412.Abstract PDF
2007
Aghion P, Braun M, Fedderke J. Competition and Productivity Growth in South Africa. 2007.Abstract
Aghion P, Askenazy P, Berman N, Cette G, Eymard L. Credit Constraints and the Cyclicality of R&D Investments: Evidence from France. Currently revised for the Journal of the European Economic Association. 2007.Abstract PDF
Pages
Aghion P, Alesina A, Trebbi F. Democracy, Technology, and Growth. In: Helpman E forthcoming in Institutions and Economic Performance. Harvard University Press ; 2007.Abstract PDF
Aghion P, Blundell R, Griffith R, Howitt P, Prantl S. Entry, Innovation, and Growth: Theory and Evidence. forthcoming in the Review of Economics and Statistics. 2007.
Aghion P, Marinescu I. Productivity Growth and Countercyclical Budgetary Policy: What Do We Learn from OECD Panel Data?. NBER Macroeconomic Annual. 2007.
Aghion P, Fally T, Scarpetta S. Credit Constraints as a Barrier to the Entry and Post Entry Growth of Firms: Theory and Evidence. Economic Policy. 2007.Abstract PDF
Aghion P, Antras P, Helpman E. Negotiating Free Trade. Journal of International Economics. 2007.
Aghion P, Acemoglu D, Lelarge C, Reenen VJ, Zilibotti F. Technology, Information, and the Decentralization of the Firm. Quarterly Journal of Economics. 2007.Abstract PDF
Aghion P, Stein J. Growth versus Profit Maximizing Strategies over the Cycle: Giving the Market What It Wants. Journal of Finance. 2007.
Aghion P, Alesina A, Trebbi F. Choosing Electoral Rules: Theory and Evidence from US Cities. Quarterly Journal of Economics. 2007.Abstract PDF
2006
Aghion P, Blundell R, Griffith R, Howitt P, Prantl S. The Effects of Entry on Incumbent Innovation and Productivity. 2006.Abstract PDF
Aghion P, Bacchetta P, Ranciere R, Rogoff K. Exchange Rate Volatility and Productivity Growth: The Role of Financial Development. 2006.Abstract PDF
Aghion P, Marinescu I. Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?. 2006.Abstract PDF
Aghion P, Meghir C, Vandenbussche J. Distance to Frontier, Growth, and the Composition of Human Capital. Journal of Economic Growth. 2006.Abstract PDF
Aghion P, Griffith R, Howitt P. Competition and Vertical Integration. American Economic Review, Papers and Proceedings. 2006.
Aghion P, Howitt P. Appropriate Growth Policy, Schumpeter Lecture. Journal of the European Economic Association. 2006.Abstract PDF
Aghion P, Acemoglu D, Zilibotti F. Distance to Frontier, Selection, and Economic Growth. Journal of the European Economic Association. 2006.
2005
Aghion P, Angeletos G, Banerjee A, Manova K. Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment. 2005.Abstract
Aghion P, Boustan L, Hoxby C, Vandenbussche J. Exploiting States’ Mistakes to Identify the Causal Impact of Higher Education on Growth. 2005. PDF
Aghion P, Angeletos M, Banerjee A, Manova K. Volatility and Growth: Financial Development and the Cyclical Composition of Investment. Currently revised for the Journal of Monetary Economics. 2005.
Handbook of Economic Growth
Aghion P, Durlauf S. Handbook of Economic Growth. North-Holland: Elsevier; 2005. Publisher's Version
Competition and Growth
Aghion P, Griffith R. Competition and Growth. Zeuthen Lectures, MIT Press; 2005. Publisher's Version
Volatility and Growth
Aghion P, Banerjee A. Volatility and Growth. Clarendon Lectures, Oxford University Press; 2005. Publisher's Version
Aghion P, Bloom N, Blundell R, Griffith R, Howitt P. Competition and Innovation: An Inverted U Relationship. Quarterly Journal of Economics. 2005.
Aghion P, Howitt P, Mayer D. The Effect of Financial Development on Convergence. Quarterly Journal of Economics. 2005.
2004
Aghion P, Stein J. Growth vs. Margins: Business-Cycle Implications of Giving the Stock Market What It Wants. 2004.
Aghion P, Howitt P. Growth with Quality-Improving Innovations: An Integrated Framework. 2004.
Aghion P, Burgess R, Redding S, Zilibotti F. Entry Liberalization and Inequality in Industrial Performance. 2004.Abstract
Aghion P, Aghion B. A New Growth Approach to Poverty Alleviation. 2004. PDF
Education et croissance
Aghion P, Cohen E. Education et croissance. La Documentation Francaise; 2004. Publisher's Version
Aghion P, Bolton P, Tirole J. Exit Options in Corporate Finance: Liquidity versus Incentives. Review of Finance. 2004.
Aghion P, Schankerman M. A Model of the Private and Social Returns to Market-Enhancing Infrastructure. Economic Journal. 2004.
Aghion P, Bacchetta P, Banerjee A. Capital Markets and the Instability of Open Economies. Journal of Monetary Economics. 2004.
Aghion P, Bacchetta P, Banerjee A. A Balance-Sheet Approach to Currency Crises. Journal of Economic Theory. 2004.
Aghion P, Alesina A, Trebbi F. Endogenous Political Institutions. Quarterly Journal of Economics. 2004.Abstract PDF
2003
Aghion P, Bond S, Klemm A, Marinescu I. Technology and Financial Structure: Are Innovative Firms Different? . 2003.
Aghion P, Bacchetta P, Banerjee A. Financial Development and the Instability of Open Economies . 2003.
Acemoglu D, Aghion P, Zilibotti F. Distance to Frontier, Selection, and Economic Growth . 2003.
Aghion P, Bertola G, Hellwig M, Pisani-Ferry J, Sapir A, Vinals J, Wallace H. An Agenda for a Growing Europe: The Sapir Report. Oxford University Press; 2003. Publisher's Version
Aghion P, Dewatripont M, Rey P. Transferable Control. Journal of the European Economic Association. 2003.
Aghion P, Acemoglu D, Zilibotti F. Vertical Integration and Distance to Frontier. Journal of the European Economic Association, Papers and Proceedings. 2003.Abstract PDF
Aghion P, Bolton P. Incomplete Social Contracts. Journal of the European Economic Association. 2003.
2002
Aghion P, Rey P. Allocating Decision Rights under Liquidity Constraints: A Simple Framework. In: E.Brousseau Essays on Incomplete Contracts. Cambridge University Press ; 2002.
Aghion P, Dewatripont M, Rey P. On Partial Contracting. European Economic Review, Papers and Proceedings. 2002.
Aghion P, Howitt P, Violante G. General Purpose Technologies and Within-group Inequality. Journal of Economic Growth. 2002.
Aghion P. Schumpeterian Growth Theory and the Dynamics of Income Inequality. Walras-Bowley Lecture. 2002;Econometrica.
2001
Aghion P, Dewatripont M, Rey P. Agency Costs, Firm Behaviour, and the Nature of Competition. 2001.
Aghion P, Acemoglu D, Violante GL. Deunionization, Technical Change and Inequality. Carnegie-Rochester Conference Series on Public Policy. 2001;55 :229-264.
Aghion P, Bacchetta P, Banerjee A. Currency Crises and Monetary Policy in an Economy with Credit Constraints. European Economic Review. 2001;ISOM Volume.
Aghion P, Harris C, Howitt P, Vickers J. Competition, Imitation and Growth with Step-by-Step Innovation. Review of Economic Studies. 2001;68 (3) :467-492.
2000
Aghion P, Bolton P, Dewatripont M. Contagious Bank Failures in a Free Banking System. European Economic Review. 2000.
Aghion P, Banerjee A, Baccheta P. A Simple Model of Monetary Policy and Currency Crises. European Economic Review. 2000.
1999
Inequality, Growth, and Globalization - Theory, History and Policy
Aghion P, Williamson J. Inequality, Growth, and Globalization - Theory, History and Policy. Raffaele Mattioli Memorial Lecture, Cambridge University Press; 1999. Publisher's Version
Aghion P, Schankerman M. Competition, Entry, and the Social Returns to Infrastructure in Transition Economies. Economics of Transition. 1999.
Aghion P, Bolton P, Fries S. Optimal Design of Bank Bailouts: The Case of Transition Economies. Journal of Institutional and Theoretical Economics. 1999.
Aghion P, Caroli E, Garcia-Penalosa C. Inequality and Economic Growth: The Perspective of the New Growth Theories. Journal of Economic Literature. 1999.
Aghion P, Banerjee A, Piketty T. Dualism and Macroeconomic Volatility. Quarterly Journal of Economics. 1999.
Aghion P, Dewatripont M, Rey P. Competition, Financial Discipline, and Growth. Review of Economic Studies . 1999;66 (4) :825-852.
1998
Aghion P, Bolton P, Fries S. Financial Restructuring in Transition Economies. Currently revised for the Journal of Finance. 1998.
Endogenous Growth Theory
Aghion P, Howitt P. Endogenous Growth Theory. Cambridge, MA: MIT Press; 1998. Publisher's Version
Aghion P, Howitt P. On the Macroeconomic Effects of Major Technological Change. In: Helpman E General Purpose Technologies and Economic Growth. Cambridge, MA: MIT Press ; 1998. pp. 121-144.
Aghion P, Howitt P. Market Structure and the Growth Process. Review of Economic Dynamics. 1998;1 (276-305).
Aghion P, Howitt P. Capital Accumulation and Innovation as Complementary Factors in Long-Run Growth. Journal of Economic Growth. 1998;3 (111-130).
Aghion P, Compte O, Jehiel P. Bargaining While Searching for Outside Options: A Potential Role for Unions. European Economic Review. 1998.
1997
Aghion P, Howitt P. Ajustement macroéconomique aux technologies multi-usage. l’Actualité économique, Revue d’analyse économique. 1997;73 :575-593.
Aghion P, Howitt P. A Schumpeterian Perspective on Growth and Competition. In: Kreps DM, Wallis KF Advances in Economics and Econometrics: Theory and Applications, vol. 2. Cambridge University Press ; 1997. pp. 279-317.
Aghion P, Blanchard O, Carlin W. The Economics of Enterprise Restructuring in Central and Eastern Europe. In: Roemer J Property Relations, Incentives and Welfare. McMillan Press and St. Martin's Press ; 1997.
Aghion P, Howitt P. A Schumpeterian Perspective on Growth and Competition. In: Kreps D Advances in Economics and Econometrics. ; 1997.
Aghion P, Bolton P. A Theory of Trickle-Down Growth and Development. lead article in the Review of Economic Studies. 1997;64 (2) :151-172.
Aghion P, Tirole J. Real and Formal Authority in Organizations. lead article in the Journal of Political Economy. 1997.
Aghion P, Dewatripont M, Rey P. Corporate Governance, Competition Policy and Industrial Policy. European Economic Review. 1997;41 (3-5) :797-805.
Aghion P, Harris C, Vickers J. Competition and Growth with Step-by-Step Innovation; An Example. European Economic Review. 1997;41 :771-782.
1996
Aghion P, Blanchard O. On Insider Privatisation. European Economic Review. 1996.
Aghion P, Howitt P. The Observational Implications of Schumpeterian Growth Theory. Empirical Economics. 1996;21 :13-25.
Aghion P, Howitt P. Research and Development in the Growth Process. Journal of Economic Growth. 1996;1 (49-73).
1995
Aghion P, Howitt P. Technical Progress in the Theory of Economic Growth. In: Fitoussi J-P Economics in a Changing World: Proceedings of the 10th World Congress of the International Economic Association, vol 5. London: Macmillan ; 1995. pp. 101-122.
Aghion P, Tirole J. Some Implications of Growth for Ownership Structure and Organisational Forms. European Economic Review. 1995.
1994
Aghion P, Piketty T. Social Mobility and Corporate Development. Revised for the Journal of Political Economy. 1994.
Aghion P, Tirole J. Opening the Black Box of Innovation. European Economic Review. 1994.
Aghion P, Paul SG. Uncovering Some Casual Relationships between Productivity Growth and the Structure of Economic Fluctuations. NBER and Labour. 1994.
Aghion P, Blanchard O, Burgess R. The Behaviour of State Firms in Eastern Europe, Pre-Privatisation. European Economic Review. 1994;ISOM issue.
Aghion P, Blanchard O. On the Speed of Transition in Central Europe. NBER Macro Annuals. 1994.
Aghion P, Tirole J. On the Management of Innovation. Quarterly Journal of Economics. 1994.
Aghion P, Howitt P. Growth and Unemployment. Review of Economic Studies. 1994;61 (3) :477-494.
Aghion P, Dewatripont M, Rey P. Renegotiation Design With Unverifiable Information. lead article in Econometrica. 1994;62 (2) :257-282.
1993
Aghion P, Espinoza M, Jullien B. Dynamic Duopoly with Learning Through Price- Experimentation. Economic Theory. 1993.
Aghion P. Economic Reform in Eastern Europe: Can Theory Help?. European Economic Review. 1993.
1992
Aghion P, Burgess R. Financing and Development in Eastern Europe and the Former Soviet Union. Financial Institutions in Europe. 1992.
Aghion P, Bolton P. Distribution and Growth in Models of Imperfect Capital Markets. European Economic Review, Papers and Proceedings of the 6th Annual Congress of the European Economic Association. 1992;36 (2/3) :603-611.
Aghion P, Hart O, Moore J. The Economics of Bankruptcy Reform. Journal of Law, Economics and Organisation. 1992.
Aghion P, Howitt P. A Model of Growth through Creative Destruction. Econometrica. 1992;60 (2) :323-351.
Aghion P, Bolton P. An Incomplete Contracts Approach to Financial Contracting. Review of Economic Studies. 1992;59 (3) :473-494.
1991
Aghion P, Bolton P, Harris C, Jullien B. Optimal Learning by Experimentation. Review of Economic Studies. 1991;58 (4) :621-654.
Aghion P, Howitt P. Unemployment: A Symptom of Stagnation or a Side-Effect of Growth?. European Economic Review. 1991;35 :535-541.
1990
Aghion P, Bolton P. Government Domestic Debt and the Risk of Default: A Political- Economic Model of the Strategic Role of Debt. In: Dornbusch R, Draghi M Government Domestic Debt and the Risk of Default: A Political- Economic Model of the Strategic Role of Debt. Cambridge, MA: MIT Press ; 1990.
Aghion P, Hermalin B. Legal Restrictions on Private Contracts can Enhance. Journal of Law, Economics and Organisations. 1990.
1989
Aghion P, Dewatripont M, Rey P. On Renegotiation Design. European Economic Review. 1989;34 (2/3) :322-329.
Aghion P, Bolton P. The Financial Structure of the Firm and the Problem of Control. European Economic Review. 1989.
1987
Aghion P, Bolton P. Contracts as a Barrier to Entry. American Economic Review. 1987;77 (3) :388-401.
1985
Aghion P. On the Generic Inefficiency of Differentiable Market Games. Journal of Economic Theory. 1985.