Pietro F. Peretto | Scholars@Duke

Pietro F. Peretto
Professor of Economics

Peretto is a macroeconomist who studies the sources and effects of technological change mainly using endogenous growth theory. With this focus, he has studied international trade, growth and innovation, market structure, corporate taxation, industrial organization, development and the environment, R&D, demography, and more. He has been publishing his research for nearly three decades and has had his work appear in books and leading academic journals. He is Associate Editor of the Journal of Economic Growth.

Current Appointments & Affiliations

Professor of Economics, Economics, Trinity College of Arts & Sciences 2009
Faculty Network Member of The Energy Initiative, Nicholas Institute-Energy Initiative, Initiatives 2012

Contact Information

241 Social Sciences, Box 90097, Durham, NC 27708
Box 90097, Durham, NC 27708-0097
peretto@econ.duke.edu (919) 660-1807
Personal Website

Background
Education, Training, & Certifications
- Ph.D., Yale University 1994
Previous Appointments & Affiliations
- Associate Professor of Economics, Economics, Trinity College of Arts & Sciences 2001 - 2009
- Assistant Professor of Economics, Economics, Trinity College of Arts & Sciences 1994 - 2001
Expertise
Global Scholarship
- Teaching
Research
Selected Grants
- The Social Cost of Regulatory Accumulation Project awarded by Mercatus Center 2023 - 2025
- Carbon Policy and Induced Technical Change: Market Structure, Increasing Returns, and Secondary Benefits awarded by Department of Energy 1997 - 2001
Publications & Artistic Works
Selected Publications
- Academic Articles
  - Chu, A. C., P. F. Peretto, and X. Wang. “Agricultural revolution and industrialization.” Journal of Development Economics 158 (September 1, 2022). https://doi.org/10.1016/j.jdeveco.2022.102887.
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  - Chu, A. C., Y. Furukawa, S. Mallick, P. Peretto, and X. Wang. “Dynamic effects of patent policy on innovation and inequality in a Schumpeterian economy.” Economic Theory 71, no. 4 (June 1, 2021): 1429–65. https://doi.org/10.1007/s00199-021-01357-6.
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  - Iacopetta, M., and P. F. Peretto. “Corporate governance and industrialization.” European Economic Review 135 (June 1, 2021). https://doi.org/10.1016/j.euroecorev.2021.103718.
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  - Brunnschweiler, C. N., P. F. Peretto, and S. Valente. “Wealth creation, wealth dilution and demography.” Journal of Monetary Economics 117 (January 1, 2021): 441–59. https://doi.org/10.1016/j.jmoneco.2020.02.002.
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  - Peretto, P. F. “Through scarcity to prosperity: Toward a theory of sustainable growth.” Journal of Monetary Economics 117 (January 1, 2021): 243–57. https://doi.org/10.1016/j.jmoneco.2020.01.004.
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  - Ferraro, D., S. Ghazi, and P. F. Peretto. “Implications of tax policy for innovation and aggregate productivity growth.” European Economic Review 130 (November 1, 2020). https://doi.org/10.1016/j.euroecorev.2020.103590.
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  - Coffey, B., P. A. McLaughlin, and P. Peretto. “The cumulative cost of regulations.” Review of Economic Dynamics 38 (October 1, 2020): 1–21. https://doi.org/10.1016/j.red.2020.03.004.
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  - Ferraro, D., and P. F. Peretto. “Innovation-led growth in a time of debt.” European Economic Review 121 (January 1, 2020). https://doi.org/10.1016/j.euroecorev.2019.103350.
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  - Kane, R. F., and P. F. Peretto. “More apples vs. better apples: Distribution and innovation-driven growth.” Journal of Economic Theory 185 (January 1, 2020). https://doi.org/10.1016/j.jet.2019.104964.
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  - Ferraro, D., and P. F. Peretto. “Commodity Prices and Growth.” Economic Journal 128, no. 616 (December 1, 2018): 3242–65. https://doi.org/10.1111/ecoj.12559.
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  - Peretto, P. F. “Robust endogenous growth.” European Economic Review 108 (September 1, 2018): 49–77. https://doi.org/10.1016/j.euroecorev.2018.06.007.
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  - Peretto, P. F. “From Smith to Schumpeter: A Theory of Take-Off and Convergence to Sustained Growth.” European Economic Review 78 (August 2015): 1–26. https://doi.org/10.1016/j.euroecorev.2015.05.001.
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  - Iacopetta, M., R. Minetti, and P. F. Peretto. “Financial Markets, Industry Dynamics, and Growth.” Economic Research Initiatives at Duke (Erid), no. 172 (August 27, 2014).
  - Peretto, P. “Comments on the paper: "Production process heterogeneity, time to build, and macroeconomic performance" by M. Amendola, J. L. Gaffard and F. Saraceno.” Revue De L’Ofce 124, no. 5 (November 2, 2012). https://doi.org/10.3917/reof.124.0513.
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  - Cetorelli, N., and P. F. Peretto. “Credit quantity and credit quality: Bank competition and capital accumulation.” Journal of Economic Theory 147, no. 3 (May 1, 2012): 967–98. https://doi.org/10.1016/j.jet.2012.01.006.
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  - Peretto, P. F. “Resource abundance, growth and welfare: A Schumpeterian perspective.” Journal of Development Economics 97, no. 1 (January 1, 2012): 142–55. https://doi.org/10.1016/j.jdeveco.2010.12.001.
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  - Peretto, P. F. “The Growth and Welfare Effects of Deficit-Financed Dividend Tax Cuts.” Journal of Money, Credit and Banking 43, no. 5 (August 1, 2011): 835–69. https://doi.org/10.1111/j.1538-4616.2011.00399.x.
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  - Peretto, P. F., and S. Valente. “Resources, innovation and growth in the global economy.” Journal of Monetary Economics 58, no. 4 (May 1, 2011): 387–99. https://doi.org/10.1016/j.jmoneco.2011.07.001.
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  - Sá, N., M. Connolly, and P. Peretto. “Sustaining the goose that lays the golden egg: A continuous treatment of technological transfer.” Scottish Journal of Political Economy 56, no. 4 (November 23, 2009): 492–507. https://doi.org/10.1111/j.1467-9485.2009.00495.x.
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  - Peretto, P. F. “Energy taxes and endogenous technological change.” Journal of Environmental Economics and Management 57, no. 3 (May 1, 2009): 269–83. https://doi.org/10.1016/j.jeem.2008.07.007.
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  - Peretto, P. F. “Effluent taxes, market structure, and the rate and direction of endogenous technological change.” Environmental and Resource Economics 39, no. 2 (February 1, 2008): 113–38. https://doi.org/10.1007/s10640-007-9101-z.
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  - Peretto, P. F., and M. Connolly. “The Manhattan metaphor.” Journal of Economic Growth 12, no. 4 (December 1, 2007): 329–50. https://doi.org/10.1007/s10887-007-9023-1.
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  - Peretto, P. F. “Corporate taxes, growth and welfare in a Schumpeterian economy.” Journal of Economic Theory 137, no. 1 (November 1, 2007): 353–82. https://doi.org/10.1016/j.jet.2006.11.005.
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  - Peretto, P. F. “Schumpeterian growth with productive public spending and distortionary taxation.” Review of Development Economics 11, no. 4 (November 1, 2007): 699–722. https://doi.org/10.1111/j.1467-9361.2007.00425.x.
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  - Laincz, C. A., and P. F. Peretto. “Scale effects in endogenous growth theory: An error of aggregation not specification.” Journal of Economic Growth 11, no. 3 (September 1, 2006): 263–88. https://doi.org/10.1007/s10887-006-9004-9.
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  - Peretto, P. F. “Fiscal policy and long-run growth in R&D-based models with endogenous market structure.” Journal of Economic Growth 8, no. 3 (September 1, 2003): 325–47. https://doi.org/10.1023/A:1026288415768.
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  - Connolly, M., and P. F. Peretto. “Industry and the family: Two engines of growth.” Journal of Economic Growth 8, no. 1 (March 1, 2003): 115–48. https://doi.org/10.1023/A:1022864901652.
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  - Peretto, P. F. “Endogenous market structure and the growth and welfare effects of economic integration.” Journal of International Economics 60, no. 1 (January 1, 2003): 177–201. https://doi.org/10.1016/S0022-1996(02)00025-9.
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  - Peretto, P., and S. Smulders. “Technological distance, growth and scale effects.” Economic Journal 112, no. 481 (January 1, 2002): 603–24. https://doi.org/10.1111/1468-0297.00732.
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  - Peretto, P. F. “Firm size, rivalry and the extent of the market in endogenous technological change.” European Economic Review 43, no. 9 (October 1, 1999): 1747–73. https://doi.org/10.1016/S0014-2921(98)00038-5.
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  - Peretto, P. F. “Industrial development, technological change, and long-run growth.” Journal of Development Economics 59, no. 2 (August 1, 1999): 389–417. https://doi.org/10.1016/S0304-3878(99)00018-8.
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  - Peretto, P. F. “Cost reduction, entry, and the interdependence of market structure and economic growth.” Journal of Monetary Economics 43, no. 1 (February 19, 1999): 173–95. https://doi.org/10.1016/S0304-3932(98)00040-3.
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  - Peretto, P. F. “Technological change, market rivalry, and the evolution of the capitalist engine of growth.” Journal of Economic Growth 3, no. 1 (January 1, 1998): 53–80. https://doi.org/10.1023/A:1009722031825.
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  - Peretto, P. F. “Technological change and population growth.” Journal of Economic Growth 3, no. 4 (January 1, 1998): 283–311. https://doi.org/10.1023/A:1009799405456.
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  - Malerba, F., L. Orsenigo, and P. Peretto. “Persistence of innovative activities, sectoral patterns of innovation and international technological specialization.” International Journal of Industrial Organization 15, no. 6 (January 1, 1997): 801–26. https://doi.org/10.1016/s0167-7187(97)00012-x.
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  - Peretto, P. F. “Sunk costs, market structure, and growth.” International Economic Review 37, no. 4 (January 1, 1996): 895–923. https://doi.org/10.2307/2527316.
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  - Peretto, P., F. Malerba, and A. Heimler. “Sources, Appropriability and Directions of Technological Change: USA and Italy.” Banca Nazionale Del Lavoro Quarterly Review, June 1993.
  - Peretto, P. “Technoloy, Learning Opportunity and Internaitonal Competitiveness: Some Empirical Evidence with Panel Data.” Giornale Degli Economisti, May 1990.
- Book Sections
  - Peretto, P. F. “Market Power, Unemployment, and Growth.” In Frontiers of Economic Growth and Development, edited by O. de La Grandville and E. K. Choi, 493–525. Great Britain: Emerald Group Publishing Limited, 2012. https://doi.org/10.1108/S1574-8715(2011)0000011024.
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  - Peretto, P. F. “Variety, Spillovers and Market Structure in a Model of Endogenous Technological Change.” In Increasing Returns and Economic Analysis, edited by K. J. Arrow, Y. K. Ng, and X. Yang, 338–66. Great Britain: Macmillan Press Ltd, 1998. https://doi.org/10.1007/978-1-349-26255-7_21.
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- Scholarly Editions
  - Suphaphiphat, N., P. F. Peretto, and S. Valente. “Endogenous Growth and Property Rights over Renewable Resources,” 2015.
  - Peretto, P. F., and S. Valente. “Growth on a Finite Planet: Resources, Technology and Population in the Long Run,” June 30, 2011.
  - Peretto, P. F. “Market power, growth, and unemployment,” January 1, 2011. https://doi.org/10.1108/S1574-8715(2011)0000011024.
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Teaching & Mentoring
Recent Courses
- ECON 452: Economic Growth 2023
- ECON 593: Research Independent Study 2023
- ECON 602: Macroeconomic Theory 2023
- ECON 652: Economic Growth 2023
- ECON 882: Special Topics in Macro International Finance 2023
- ECON 902: Macroeconomics and International Economics Workshop 2023
- ECON 452: Economic Growth 2022
- ECON 602: Macroeconomic Theory 2022
- ECON 652: Economic Growth 2022
- ECON 902: Macroeconomics and International Economics Workshop 2022
- ECON 392: Independent Study 2021
- ECON 452: Economic Growth 2021
- ECON 602: Macroeconomic Theory 2021
- ECON 652: Economic Growth 2021
- ECON 882: Special Topics in Macro International Finance 2021
- ECON 902: Macroeconomics and International Economics Workshop 2021
- ICS 452: Economic Growth 2021

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Education, Training, & Certifications

Previous Appointments & Affiliations

Global Scholarship

Teaching

Selected Grants

Selected Publications

Academic Articles

Book Sections

Scholarly Editions

Recent Courses