Higher child mortality reduces the willingness of parents to invest in children's education and increases their desired level of fertility. In this context, economic inequality is not only decisive for human capital investments and the emergence of differential fertility, but also for agents'...

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

Even though most countries have agreed to a harmonization of intellectual property rights by signing the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), there is still much dispute about the optimal level of protection of intellectual property rights in the world....