This article analysis the macroeconomic determinants of the infant mortality rate (IMR) in Uruguay and its components, focusing on the role of the gross product per capita (GDP), public spending (PS) and health spending (HS). A time series analysis is performed using annual data from 1910 to...

We introduce demographic shocks in a multi-sector endogenous growth model, a-la Uzawa-Lucas. We show that an analytical solution of the stochastic problem can be found, under the restriction that the capital share equals both the inverse of the intertemporal elasticity of substitution and the...

This paper investigates the interplay between social capital, innovation and economic growth in the European Union. We identify innovation as an important mechanism that transforms social capital into economic growth. In an empirical investigation of 102 European regions in the period 1990-2002,...

At present, the international growth model includes important restrictions about the consideration of GDP as a unique tool for measurement. In this sense, taking into consideration the wealth of a country, we must add intangibles such as human development, country image, employment conditions,...

The Knowledge-Intensive Business Services (KIBS) sector has been growing in the US in the recent decades. KIBS are used to overcome the information friction between intermediate inputs and the input users that is generated by technology improvement. We use a Schumpeterian growth model with...

After a period of convergence where many perceived the country as a success case, Portugal’s economic performance proved to be disappointing in the last decade. In this study we focus on the relationship between technology and economic catching-up in order to answer to two major questions: (i)...

Growth accounting exercises using standard human capital measures are limited in their ability to attribute causal effects and to explain growth. This paper develops a model of growth and schooling consistent with these decompositions but with less unexplained growth. The theory distinguishes...

The paper develops a two-country dynamic general-equilibrium model of growth without scale effects to explore the effects of globalization on long-run growth and wages. Higher quality products are endogenously discovered through stochastic and sequential global innovation contests in which...

This paper attempts to provide a coherent general equilibrium explanation for the joint U.S-British evolution during the last thousand years. We typified this period by initial Malthusian stagnation (before 1500); discovery and colonization (between 1500 and 1750); independence of the colony and...