NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Openness, Technology Capital, and Development

Ellen McGrattan, Edward C. Prescott

NBER Working Paper No. 13515
Issued in October 2007

---- Acknowledgements -----

We thank the National Science Foundation for financial support for this research (grant SES-0422539) and Loris Rubini, Johanna Wallenius, and particularly Simona Cociuba for exceptional research assistance. This paper was presented at the April 2007 conference at the University of Chicago honoring the contributions of Robert E. Lucas, Jr. Discussions by Bob Lucas and Paul Romer were extremely helpful for us in revising an earlier draft of this paper. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.

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