This paper studies the effects of distortionary taxes and public investment in an endogenous growth OLG model with … knowledge transmission. Fiscal policy affects growth in two respects: First, work time reacts to variations of prospective tax … generations, and are not necessarily growth-improving with respect to a pure private system. Non-Ramsey policies that shift the …

This paper examines the economic growth effects of limited availability of higher education in a simple endogenous … growth model with overlapping generations. With limited availability, the scarcity of human capital keeps its price high and … substantial slowdown in economic growth. …

This paper develops a growth theory that captures the replacement of physical capital accumulation by human capital … accumulation as a prime engine of growth along the process of development. It argues that the positive impact of inequality on the … growth process was reversed in this process. In early stages of the Industrial Revolution, when physical capital accumulation …

economic growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of … triggered the transition from stagnation to growth and the associated phenomenon of the great divergence in income per capita … across countries has been widely viewed as one of the most significant challenges facing researchers in the field of growth …

economic growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of …-unified growth models with the main characteristics of the process of development across most of human history induced growth … modern era of sustained economic growth, and the recent transition between these distinct regimes. Unified growth theory …

Do openness to trade and higher levels of human capital promote faster productivity growth? That they do is a key … implication of several versions of endogenous growth theory. To answer the question we use panel data on 93 countries spanning the … on productivity growth. If the level of openness of an economy is doubled the underlying rate of technical progress will …

prime forces in the transition from stagnation to growth. The unprecedented increase in population growth during the early … fertility rates and population growth in various regions of the world, enabling economies to convert a larger share of the … fruits of factor accumulation and technological progress into growth of income per capita. This paper examines various …

The paper analyses a two-sector model of endogenous growth with two common features of economic development: stages of … sustained growth and underdevelopment traps. The model also demonstrates the transitional issues of a temporary underdevelopment … trap, seemingly sustainable growth, and a slowdown in productivity growth. The temporary underdevelopment trap occurs when …

Transitional dynamics in growth models have been subject to much attention recently. With a few exceptions, existing …

endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly … part of the paper is devoted to the setup of a model of endogenous growth with human capital accumulation and the … of the problem which eliminates the growth in variables is then presented and the MWR method is used to solve the model …