We study a selection method for a Nash feedback equilibrium of a one-dimensional linear-quadratic nonzero sum game over an infinite horizon: by introducing a change in the time variable, one obtains an associated game over a finite horizon T 0 and with free terminal state. This associated game...

This paper analyzes the macroeconomic effects of the patent system within the framework of an endogenous growth model with new products development. We assume that patents not only represent a commercial protection for innovators but also entail a partial property right on information.

This paper addresses the issue of optimal population with two concerns: avoiding both the absolute repugnant solution that amounts to giving to an infinite number an infinitesimal amount and the marginal repugnant solution in which equilibrium consumption decreases with income. To avoid these...

This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular, it...

Nous donnons un exemple de jeu differentiel en horizon fini possedant une multiplicite d'equilibres de Nash et donnons un critere permettant de selectionner l'un d'entre eux en utilisant un jeu associe en horizon fini.

Nous montrons dans cet article que les contraintes de salaire minimum legal peuvent exercer des influences favorables sans qu'il soit necessaire de faire reference a des externalites. Plus precisement, si l'economie concurrentielle admet plusieurs equilibres stationnaires, il existe toujours un...

We modify the altruistic model by assuming that income, instead of the heir's utility, enters the altruist's utility function. We name this formulation "myopic" because, unlike in Barro's (1974) model, the altruist does not need to foresee into the indenite future to make his decisions. We...

We construct a R&D based endogenous growth model within an overlapping generations framework. We study the properties of the long run growth rate. We define endogenous growth as an equilibrium in which the long run growth rate is always stricly larger than zero. Then, we show that endogenous...

This paper examines the patterns of economic integration and endogenous growth in a two-country overlapping generations world in which the formation of childrn's human capital is financed by parents. It explores the influence of cross-border external effects in human capital on growth....