This paper presents a simple model to explain the relative advantages of market economies with high turnover of firms and those with low turnover rates but long-term relationships. The two types of economies, labeled Anglosaxon and Rhenish respectively, arise as two equilibria that can...

This paper reviews dynamic general equilibrium models in order to collect insights on the interaction between economic growth and environmental issues. The authors discuss the Ramsey model and extend it for natural resource inputs and pollution, as well as for endogenous technical change. Green...