We examine human capital's contribution to economy-wide technological progress through two channels { im- itation and innovation} innovation being more skilled-intensive than innovation. We develop a growth model considering an endogenous ability-driven skill acquisition decision of an...

The article utilises a model of endogenous growth with vertical innovation (á la Aghion–Howitt) to examine how the inclusion of a production-related pollution externality affects the prospect for long-run growth of a closed economy. It is derived that the social optimum exhibits the...

The paper utilizes a model of endogenous growth with vertical innovation (´a la Aghion-Howitt) to examine how the inclusion of a production related pollution externality affects the prospect for long-run growth of a closed economy. It is derived that the social optimum exhibits the...

Global warming caused by accumulation of emissions of greenhouse gases (GHGs) is a public bad, addressing which requires collective action by all the countries of the world. Under the United Nations Convention on Climate Change (UNFCCC), most countries have negotiated the Kyoto Protocol for GHG...

We examine human capital's contribution to economy-wide technological progress through two channels – imitation and innovation – innovation being more skill-intensive than imitation. We develop a growth model based on the endogenous ability-driven skill acquisition decision of an individual....