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Last Updated: 11/14/16

Chicago Fed Letter

Most Recent Articles

No. 369

The Global Diffusion of Ideas and Its Impact on Productivity and Growth

Francisco Buera and Ezra Oberfield

Economic growth often comes hand in hand with the growth of trade. However, according to quantitative models that rely on standard static mechanisms, the gains from trade are fairly small. This article introduces a model to study the diffusion of ideas across countries as a means of increasing productivity and provides a quantitative assessment of the role of trade in the transmission of knowledge. Read The Global Diffusion of Ideas...

No. 368

Corporate Cash Flow and Its Uses

Thomas B. King and Timothy Larach

We decompose corporate cash flow into its primary components to examine how funds are being internally allocated and to elucidate current trends in corporate behavior. By historical standards, capital investment has been low and shareholder payouts have been high over the past few years, although these patterns do not seem so abnormal once recent economic and financial conditions are factored in. That said, corporate debt levels are now somewhat higher than we would expect given the rather tepid economic recovery from the Great Recession. Read Corporate Cash Flows...

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