We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change … where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that … growth rate of the economy depends on the fraction of the population choosing an entrepreneurial career. How many …

This article challenges recent findings that democracy has sizable effects on economic growth. As extensive political … called endogenous, and those grounded in reasons more exogenous to economic growth. The behavior of economic growth following … these more exogenous democratizations strongly indicates that democracy does not cause growth. Consequently, the common …

-run effects of capital markets integration, in equilibrium, on the optimal provision of education and growth. Third, we examine a …

The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of … technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The … capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …

Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of … unemployment on productivity growth heavily depends on the influence of human capital in the production function. In the …

Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a … generalised Solow-type growth model yields some answers. In the traditional Solow model, unemployment has no long-run influence on … the growth rate and the level of productivity. The long-run level of productivity is reduced if higher unemployment leads …

This paper examines the problem of optimal tax mix analytically in a two-sector growth model with transitional dynamics …

When analyzing potential ways to counter climate change, standard models of green growth abstract from investment in … efficiency imposed by thermodynamic laws. In this paper, I develop a growth model that explicitly accounts for endogenous … trigger a full transformation toward green growth. …

We develop a tractable dynamic model of productivity growth and technology spillovers that is consistent with the … firms farther from the frontier try to imitate more productive technologies. The equilibrium choice leads to a balanced-growth …

A feature of Kaleckian models of distribution and growth that is often overlooked is that they describe a nonlinear … relation between functional income distribution and demand and growth, because the size of the multiplier is affected by …