This paper presents an out-of-equilibrium model to explain cross-country dierences in the capacity to absorb new skill-biased technologies. The usual mainstream viewpoint stressing the role of labour markets will be re-examined in a context characterized by a sequential structure of both the...

Recent literature agrees that the degree of intergenerational mobility substantially differs across European countries, ranked between the “mobile” Nordic countries and the “immobile” Anglo-Saxon and Southern ones. In this paper we will compare the intergenerational transmission of...

This paper extends the out-of-equilibrium literature to analyse a structural transition characterized by the emergence of a new sector that satisfies a want lower in the hierarchical scale. In particular, the dynamic interaction demand-supply can be a source of multiple long-run outcomes if both...