The objective of this paper is to analyze the impact of the creative professions - technological employees and bohemians - on economic growth in Germany's planning regions. It is concluded that technological employees and bohemians foster economic growth. We find that growth is particularly...

We highlight one difference in predictions between Romer's expanding variety model and the Schumpeterian quality-ladder model, when there exists a cash-in-advance (CIA) constraint on manufacturing. In the expanding variety model, a higher nominal interest rate decreases growth, and a negative...

In this paper, we perform GMM dynamic panel data estimations to test the relationship between financial development and growth. Our dataset is composed of 112 emerging and developing countries over the period 1975-2007. More specifically, we test the presence of financial development threshold...

Why has the expansion of women's economic and political rights coincided with economic development? This paper investigates this question, focusing on a key economic right for women: property rights. The basic hypothesis is that the process of development (i.e., capital accumulation and...

This paper develops an endogenous growth model with public capital and imperfect competition. In the model, we take into account monopolistic competition of intermidiate sector and endogenous determination of the number of firms in the sector by considering the fixed cost to keep production...

This paper develops an endogenous growth model with public capital and imperfect competition. In the model, we take into account monopolistic competition of intermidiate sector and endogenous determination of the number of firms in the sector by considering the fixed cost to keep production...

We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant....