This paper preserves many of the primary features of the standard neoclassical framework while introducing some modifications that transform it into an open economy endogenous growth model with knowledge accumulation. The accumulation of knowledge is determined in part by the extent of knowledge...

We consider an Overlapping-generations economy where the aggregative production process uses physical capital and human capital. The human capital level of each individual is determined by the direct investment in education and some random "ability".

This work investigates the links between fertility choice, the dynamics ofincome distribution and economic growth. We use a simple model of fertility choice in conjunction with the well-documented differences in returns to human capital accross rich and poor to model the co-determination of...

This paper analyzes the interaction between the distribution of human capital, technological progress, and economic growth.

The present paper deals with the diffusion of the General Purpose Technologies (GPT) over heterogeneous finanl-good sectors. We show that the gradual adoption of the GPT by each user sector generates a sequence of two-phased cycles, culminating in a "second wave" after all sectors adopt,they...