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We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … country depends on its connections to the rest of the world and on the human capital of the countries it is exchanging … knowledge with. We show how the diffusion of knowledge through the world explains the evolution of global income inequality. It …
Persistent link: https://www.econbiz.de/10010253459
We present a multi-country theory of economic growth and R&D-driven technological progress in which countries are … countries it exchanges knowledge with. The diffusion of knowledge throughout the world explains a period of increasing world …. Knowledge diffusion through a Small World network produces an extraordinary diversity of country growth performances, including …
Persistent link: https://www.econbiz.de/10011688459
trade leads to a stable world income distribution. This is because specialization and trade introduce de facto diminishing … perspective time-series behavior of the world economy is similar to that of existing endogenous growth models, with the world … country level, the cross-sectional behavior of the world economy is similar to that of existing exogenous growth models: cross …
Persistent link: https://www.econbiz.de/10013249141
The paper studies the determinants of income distribution and growth in an overlapping generations economy withheterogenous households. Our framework has the following main features:heterogeneity of consumers with respect to wealth and parental human capital;intergenerational transfers,...
Persistent link: https://www.econbiz.de/10011318579
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into either a research sector or a manufacturing sector that produces differentiated goods. Each research project generates a new variety of the differentiated...
Persistent link: https://www.econbiz.de/10013047018
This paper studies the relationship between political conflict and economic growth in a simple model of endogenous growth with distributive conflicts. We study both the case of two "classes" (workers and capitalists) and the case of a continuum distribution of agents, characterized by different...
Persistent link: https://www.econbiz.de/10014156810
The paper studies the effects of cross-country differences in the productionprocess of human capital on income distribution and growth. Our overlapping gen-erations economy has the following features: (1) consumers are heterogenous withrespect to parental human capital and wealth; (2)...
Persistent link: https://www.econbiz.de/10011326974
Persistent link: https://www.econbiz.de/10001663819
Persistent link: https://www.econbiz.de/10001624796
Using two unifying models and an empirical exercise, this paper present and extends the main theories linking income distribution and growth, as well as the relevant empirical evidence. The first model integrates the political economy and imperfect capital markets theories. It allows for...
Persistent link: https://www.econbiz.de/10013223063