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competitors. The paper examines the capacity for decentralised patent-based incentive mechanisms to result in socially optimal … incompatibility between the dynamics of the patent system and the dynamics of the resistance problem under both types of evolution …. Under scale-dependent evolution, the externalities within a patent-based system indicate that decentralised mechanisms will …
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In this paper we ask whether policies targeting a reduction in crime rates through changes in education outcomes can be considered an effective and cost-viable alternative to interventions based on harsher punishment alone. In particular we study the effect of subsidizing high school completion....
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"This paper evaluates the ability of formal rules to establish U.S. business cycle turning point dates in real time. We consider two approaches, a nonparametric algorithm and a parametric Markov-switching dynamic-factor model. In order to accurately assess the real-time performance of these...
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We examine empirically the effect of natural resource abundance on economic growth. We find that natural resources have a negative impact on growth when considered in isolation, but a positive impact on growth when including in the analysis other variables such as corruption, investments,...
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