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.

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 analyzes the role of the structure of skills in economic development through investment in human capital. With a lack of credit market for education and the presence of indivisibilities in investment in human capital as well as of a congestion effect of the educational system, the...

This paper develops a dynamic model wherin production generates pollution that is viewed as a public bad by consumers. There are two types of consumers: those who are altruist a la Barro-Becker and leave bequests to their children and those who are pure life-cyclers. Both types of consumers...

We analyze the effect of a constant debt policy on capital accumulation and provide an indepth treatment of the dynamics in the economy of Diamond. We derive the conditions for avoiding a debt crisis in both the short-run and the long-run and provide geometrical tools to analyze the issue of...

This paper analyzes the role of the structure of skills in economic development through investment in human capital. With a lack of cresit market for education and the presence of indivisibilities in investment in human capital as well as of congestion in the educational system, the initial...

This paper addresses the issue of optimum 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 decresases with income. To avoid these...

We consider a discrete-time two-sector Cobb-Douglas economy with positive sector specific external effects. We show that indetermincay of steady states and cycles can easily arise with constant or decreasing social returns to scale, and very small market imperfections. This is in sharp contrast...