The importance of entrepreneurship for achieving economic growth in contemporary economies is widely recognized, both by policy makers and economists. However, empirical evidence linking entrepreneurship to economic growth is scarce. Empirical Analysis of Entrepreneurship and Economic Growth...

1 Introduction -- Part I: Theory of Economic Growth -- 2 Neoclassical Growth Theory and Standard Models -- 3 Growth Models with Spatial Externalities -- 4 Convergence: Theory and Evidence -- Part II: A Model of Regional Growth -- 5 Remarks on Regional Growth -- 6 Structure of the Model -- 7...

Knowledge, Technological Catch-up and Economic Growth investigates the relationship between knowledge diffusion and economic growth. Using a broad definition of knowledge - encompassing technology, production skills, know-how and firm capabilities - the central argument of the book is that the...

This paper studies the role of inflation in the determination of financial asset prices. We estimate an Intertemporal Capital Asset Pricing Model à la Merton (1973), with inflation as an independent source of risk, for France and Germany. Our study also allows us to evaluate how the different...

This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid-eighties and that the 1983 monetary policy shift mostly accounted for it. CPI average yearly growth declined from nearly 11% before the break date (May 1985) to 2.1% after. No...

Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...

We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...