Helpman and Krugman (Market structure and foreign trade. Increasing returns, imperfect competition, and the international economy. MIT Press, Cambridge, <CitationRef CitationID="CR27">1985</CitationRef>) provide a synthesis of the traditional factor proportions theory of international trade and the theory of international trade due to the...</citationref>

The most fundamental proposition about growth and competition is that there is a tradeoff between static welfare and long-term growth. This paper reconsiders this basic proposition in an increasing product variety endogenous growth model with competitive markets for “old” innovative products...

Microfinance currently experiences a huge inflow of private investors and a surge in the use of market instruments. This raises the question of what market equilibria in microfinance markets look like and which kinds of market failure tend to afflict them. The present paper conducts an...

In den vergangenen Jahren hat sich das Verständnis der Volkswirtschaftslehre gewandelt. Bis in die siebziger Jahre dominierte die Wirtschaftspolitik, die sich auch als Berater außerhalb der Universitäten verstand. Dann schwappte von den USA die Mathematisierung der Volkswirtschaftslehre nach...

New Keynesian economics stresses the positive link between firms' net worth, on the one hand, and the equilibrium level of credit granted and aggregate employment, on the other hand. The present paper argues that once money is introduced and adaptive inflation expectations are assumed, an...

New growth theory is mainly concerned with the question of how the government can accelerate growth with suitable policies. This paper is concerned with the question of whether the government can influence the economy's long-run economic growth rate or not. The answer is probably no.