A Schumpeterian growth model is constructed where R&D firms innovate to produce better versions of the products or imitate to copy existing innovations. Because firms cannot use their innovations or imitations as collateral, they finance their investment by issuing shares. Households save by...

We construct a Schumpeterian growth model of a common market with following properties. Households can stay as workers or become researchers at some cost. Workers are employed in production and researchers in R&D. Workers are unionized. A larger common market means a wider variety of products...

This paper examines a developing economy by a family-optimization model in which the number of children is a normal good in preferences. Trade liberalization generates two effects: an income effect, which raises population growth in the short run; and a gender wage effect, which decreases that...

This paper analyzes the growth and welfare effects of competition in an endogenously-growing economy with imitation and non-diversifiable risk. The main findings are as follows. There is no imitation without positive profits during innovation races. A larger proportion of competing industries...

Since World War II, mortality has decreased in the developing world. This paper explores the effects of this mortality fall on economic and demographic growth by a family-optimization model, in which fertility is endogenous and relative wealth yields utility because of status-seeking. The main...

This document considers an economy with many regions and two engines of growth: horizontal R&D, which increases the number of polluting product lines; and vertical R&D, which improves productivity in these lines. Pollution in any region decreases welfare in all regions. Any group of regions can...

I consider the case where the conservation of land yields utility through biodiversity, firms improve their efficiency by in-house R&D and a large number of countries establish a self-interested government for biodiversity management. I compare the regulation of land use with direct subsidies...

I examine GHG emission policy in a world with a fixed number of regions. In each region, labor and emissions are complementary in production, total world-wide emissions decrease welfare, and total factor productivity can be improved by R&D. A subset of regions can establish an "abatement...

I examine a common market with the following institutions. Oligopolistic firms improve their productivity by R&D. Wages are determined by union-employer bargaining. Firms and workers lobby the authority that accepts new members and regulates unions' and firms' market power. The main findings are...

This study examines optimal public policy in a product cycle model where R&D firms innovate and imitate and households face non-diversifiable risk. The government controls product cycles by two policy instruments: patent length, i.e. the expected time an innovation is imitated, and patent width,...