In this work, the authors construct a model that integrates both industrialization and endogenous growth. They feature the role of technology adoption in sustaining growth and achieving industrialization. The authors' economy contains multiple equilibria for an initial history. They found that...

The Hicks-Ikema theorem, that a uniform expansion of a trading country's production set must benefit its trading partner if the preferences of the expanding country are homothetic, has been demonstrated under assumptions of the Lerner-Samuelson kind. It is shown here that the theorem remains...

This paper presents a pair of new equivalent conditions for a given n x n matrix of distributive shares to satisfy the Stolper-Samuelson criterion. Specifying n as four and making use of barycentric coordinates, the author gives geometric characterization to the equivalent conditions. Copyright...

Consider the optimal time path of a tax on capital income, the proceeds of which are transferred to labor in a lump sum. It is known from earlier open-loop formulations that, if the optimal rate of tax converges to a point, it converges to zero, implying that, in the long run, a tax on capital...