This paper explores the macro effects of monetary policy in a Schumpeterian growth model with an endogenous market structure and distinct cash-in-advance (CIA) constraints on consumption, production, and two distinct types of R&D investment - in-house R&D and entry investment. We show that the...

In this paper we explore the effects of monetary policy on the number of firms, firm market size, ination and growth in a Schumpeterian growth model with endogenous market structure and cash-in-advance (CIA) constraints on two distinct types of R&D investment - in-house R&D and entry investment....

This paper sheds light on three important issues in the macroeconomics literature, which comes to a better understanding of Taiwan’s wage stagnation. First, we explore the trend of labor income shares, namely the labor income-output ratios, in Taiwan. This enables us to understand the...

This paper examines the quantitative interrelations between sectoral composition of public spending and equilibrium (in)determinacy in a two-sector real business cycle model with positive productive externalities in investment. When government purchases of con- sumption and investment goods are...

This paper studies casino-style gambling from the public economics point of view in a jurisdiction populated by oligopolistically competitive legal casinos. We consider three different regimes: laissez-faire, entry regulation and tax regulation. The model highlights three important external...