persistence of productivity growth differentials between nations, even though these countries show a common technology, constant … generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital … than leisure). We consider the influence on productivity growth differentials of private thrift, public debt, the taxation …

due to consumption externalities. Finally, with perfectly flexible prices the ranking might increase the market power of …

heterogenous agents interact through local public goods or externalities (school funding, neighbourhood effects) and economy … slower growth in the short run, but to higher output or even productivity growth in the long run. This trade-off occurs in …

This Paper demonstrates that mall store contracts are written to internalize externalities through both an efficient … allocation and pricing of space and an efficient allocation of incentives across stores. Certain stores generate externalities by …

We study the effects of allocative and informational externalities in (multi-object) auctions and related mechanisms …. Such externalities naturally arise in models that embed auctions in larger economic contexts. In particular, they appear … driving force behind many new, specific phenomena with allocative externalities: even in complete information settings …

industry magnifies the productivity advantage of multinationals by restricting backward and forward linkages to groups of firms …