Knowledge Growth and the Allocation of Time

Robert E. Lucas, Jr., Benjamin Moll

NBER Working Paper No. 17495
Issued in October 2011

---- Acknowledgements -----

We thank Roland Benabou, Paco Buera, Olivier Gueant, Gene Grossman, Boyan Jovanovic, Jean-Michel Lasry, Stephen Morris, Ezra Oberfield, Nancy Stokey, and seminar participants at Minnesota, Notre Dame, Princeton, Penn State, NYU, Washington, the Minneapolis Fed, the Chicago Fed, the 2011 SED and the NBER Summer Institute for helpful suggestions and criticism. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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