The paper develops a unified general equilibrium model including savings with overlapping generations, investment and …

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

The macroeconomic effects on growth, investment and private sector employment of different ways of rolling back the … cutting public spending on private goods induce an investment boom. Making the tax system less progressive by cutting tax … credits and the income tax rate induces an investment boom as well. The effects of endogenous growth, adjustment costs for …

This paper addresses the issue of how regulatory constraints affect firm s investment choices when the firm has an … option to delay investment. The RPI-x rule is compared to a profit sharing rule, which increases the x factor in case profits … go beyond a given level. It is shown that a pure price cap and profit sharing are identical in their impact on investment …

investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a … total investment. We also evaluate the reduction in the firm s value due to profit sharing, linking this reduction to the …