Modern spatial-economic systems exhibit a high degree of dynamics as a result of technological progress, demographic evolution or global change. In the past decade, an avalanche of new regional economic growth and innovation models has been put forward. This volume contains a unique collection...

The need for informed and effective insights into key concepts and models of regional development and growth, from an endogenous growth perspective, has risen over the past decade. These recent advances address in particular local and regional assets and characteristics comprising inter alia...

We present evidence on the open economy consequences of US fiscal policy shocks identified through proxy-instrumental variables. Tax shocks and government spending shocks that raise the government budget deficit lead to persistent current account deficits. In particular, the negative response of...

We estimate the effect of government spending shocks on the US economy with a time-varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks. Moreover, the particularity of this period is...