The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of financing, venture capitalists evaluate the viability of startups. If viable, venture capitalists...

The spread of Covid-19 and the ensuing adoption of lockdown measures have had severe consequences for European labour markets. All EU governments quickly made unprecedented economic and social support available to tackle the consequences of the pandemic. However, these measures – introduced by...

We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early 1990s, when barriers to setting up private businesses, trading housing, and migrating from rural to urban areas are struck down. In response to the changing economic...