physical capital to study the interaction of international capital flows and growth. Analytically, we study conditions under … long-term growth via the accumulation of human capital. Our mechanism shows how a small initial difference in the level of …

The usual models of endogenous growth treat knowledge codification as a byproduct of R&D and as costless. In contrast … costly knowledge codification in an overlapping generations framework of endogenous growth and show that the steady …-state growth rate of capital being higher than that of the knowledge stock is a sufficient condition for knowledge codification …

This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the … engineers diverged in their growth trajectories over the next century. The results are supported by historical case studies from …

dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the … model for the US economy. First, we establish that the net effect of a decline in population growth on the growth rate of … the growth performance and for individual welfare. Third, we show that the assessment of pension reform proposals may be …

This paper studies the effects of distortionary taxes and public in- vestment in an endogenous growth OLG model with … knowledge trans- mission. Fiscal policy affects growth in two respects: .rst, work time reacts to variations of prospective tax … generations, and are not necessarily growth-improving with respect to a pure private system. Non-Ramsey policies that shift the …

This paper studies the effects of distortionary taxes and public investment in an endogenous growth OLG model with … knowledge trans- mission. Fiscal policy affects growth in two respects: first, work time reacts to variations of prospective tax … generations, and are not necessarily growth-improving with respect to a pure private system. Non-Ramsey policies that shift the …

In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries … without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital … and human capital rise together, and 3) Human capital is the factor most likely to limit growth. I specify Schultz …

relationship between education and economic growth that has been found in the empirical macroeconomic literature. Conversely, for a …

The convergence features of an Endogenous Growth model with Physical capital, Human Capital and R&D have been studied …