Evidence shows that firms build their market position by consistently investing in R&D over time and accumulating knowledge protected by secrecy, patents and other appropriability devices. To explore the macroeconomic implications of this fact, I construct an economy where oligopolistic firms...

This paper explores the theoretical channels by which financial crises might have an impact on long-run growth. By exploiting occasionally binding financial constraints, we produce a model that generates endogenous crisis episodes featuring permanent falls in productivity, without generating...

We analyze the relative growth performance of open economies in a two-country model where different endowments of labor and a natural resource generate asymmetric trade. A resource-rich economy trades resource-based intermediates for final manufacturing goods produced by a resource-poor economy....

This article presents an empirical model of non-stationary and cointegrated panel data to explain the impact of industrial property, measured by patents, on the GDP of 10 Latin America countries during the period 1990 to 2010. Apply traditional unit root tests and unit root test of art, which...

We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that...

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to increase in their technological distance from the leader. This assumption is motivated by the observation the more technologically advanced the leader is, the harder it is for a...

This paper takes a new look at the long-run implications of resource abundance. Using a Schumpeterian growth model that yields an analytical solution for the transition path, it derives conditions under which the curse of natural resources occurs and is in fact a curse, meaning that welfare...

Unemployment occurs because workers and firms have control over wages and prices. The exercise of market power over wages interacts with its exercise over prices. Understanding this interaction sheds new light on the effects of policy interventions on unemployment and growth. Reforms that result...

Our interest in writing this article is to create a bridge between the scholarly and academic research on technological innovation and a private sector, for-profit business model that implements the ideas on innovation and entrepreneurship, primarily in metro regional economies.Economic growth...

This paper integrates fertility choice and exhaustible resource dynamics in a tractable model of endogenous technological change. The analysis shows that, under the right conditions, the interdependence of population, resources and technology produces a transition from unsustainable...