This paper explores the effect of policy variability (or frequency of regime switching) on economic growth and welfare. We study a one sector growth model where investment can be subsidized at either a positive rate or not subsidized at all.

In this paper we shall be considering the interweave of scientific and biographical aspects of Piero Sraffa's life, specifically with regard to the correlation between those moments in which his condition as an emigrant assumed particular relevance and three turning points of his scientific...