This volume was prepared by Luise Röpke while she was working at the Ifo Institute. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes three self-contained chapters about aspects of the integration of new...

Based on the characteristics of urban-rural dual economic structure in China, we build a dynamic endogenous urban-rural dual economic model closely linked to China's reality, and carry out mathematical economics analysis of optimized conditions for urban and rural sectors. The main results show...

Agriculture has a multifunctional role in economic development in developing countries; besides providing food for growing population, it is a major source of economic growth. Furthermore, growth originating from agriculture is known to be twice as effective in poverty reduction as growth...

This paper develops a monetary endogenous growth model where money is no longer superneutral. Economic growth is propelled by the accumulation of human capital and money enters into the optimization problem of the individual through a shopping-time techno

In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...

In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...

The elasticity of intertemporal substitution (EIS) at the macro level has been estimated mostly based on endowment economy models and these estimates are very sensitive to the choice of interest rates that are used for estimation. Estimates based on production economy models do not need...

In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...