Using a vertical differentiation model of endogenous growth with stochastic R&D activity, we characterise the optimal patent lifetime a government would set in order to maximise economic growth. We show that a finite patent lifetime does exist and is unique provided that the expected rate of...

This paper studies the different mechanisms and the dynamics through which demography is channeled to the economy. We analyze the role of demographic changes in the economic development process by studying the transitional and the long-run impact of both the rate of population growth and the...

The burden sharing of pollution abatement costs raises the issue of how to share the costs between entities (country, region or industry) and how the pollution permits should be distributed between the parties involved. This paper explores this issue in the framework of a dynamic endogenous...