This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take … inequality. From a national policy point of view, education expenditure should increase after integration of similar economies … thereby fosters economic growth. We apply a structural estimation approach to fully track the endogenous mechanisms of the …

This paper develops a two-sector R&D-based growth model with congestion effects from increasing urban population … slowdown in the modern sector. Eventually, economic growth may cease in the long-run. We also show that land dilution from a … allocation depends on the strength of urban congestion effects. -- congestion ; endogenous growth ; Engel's law ; structural …

The paper revisits the debate on trickle-down growth in view of the widely discussed evolution of the earnings and … model to dynamically evaluate whether economic growth triggered by an increase in public education expenditure on behalf of … inequality follows an inverted U-shaped evolution. …

resources promotes structural change and growth through two channels: First, by weakening oligopsony power of owners and thereby …

dampening the growth of housing costs. Abolishing zoning regulations triggers a slower rent growth and reduces wealth inequality … for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to … investigate the dynamics of wealth inequality and the determinants of welfare. Households have non-homothetic preferences …