FacultyBack to Faculty
Professor Greenwood received his PhD from the University of Rochester in 1983 and has taught at Penn since 2006. He is also a Research Associate at Penn's Population Studies Center.
He is a macroeconomist whose research has focused how technological progress has impacted, in a variety of ways, on the economy. Specifically, he has analyzed how technological advance in the capital goods sector has been an engine of growth for the economy by making investment less expensive. This spurs capital accumulation and growth. Professor Greenwood has studied how technological progress in financial markets allows investment to be directed toward the most profitable production opportunities in the economy, thereby increasing income and productivity. He has also investigated how improvements in household technologies have liberated women from working at home and allowed them to enter the labor market. Another hypothesis from this research is that technological progress in the home has led to fall in marriage, a rise in divorce and an increase in assortative mating. Other work has focused on how improvements in contraception have changed culture. Last, he has estimated the worth of a personal computer for the average American.