simulations illustrate that a balanced growth path can not be maintained in a multi-regional trade model due to international …Most dynamic trade models assume steady state or balanced growth. This paper argues while this can be done in a single … region model or a model without trade, the steady state assumption is problematic in a multi-regional setting with trade …

The paper formalizes the relation between flat taxes and growth when there is a competitive equilibrium tax evasion. A … intermediation microfoundation approach, with deposits as an input. Across a class of endogenous growth models, tax evasion decreases … the effective tax rate, and thereby lessens the negative effect of taxes on growth. And as the tax rate rises, tax evasion …

This paper presents a Schumpeterian quality-ladder model incorporating the impact of new General Purpose Technologies …. In contrast to most existing models which focus on the events after the arrival of a new GPT, the model developed in this … higher growth rates. The transitional dynamics are characterized by oscillating cycles. Shortly before the arrival of a new …

We present a Schumpterian model of endogenous growth with General Purpose Technologies (GPTs) that captures two … frequency and, second, all GPTs heavily depended on previous technologies. In our model, the arrival of GPTs is endogenous and … new GPTs allows for a model which is more in tune with the historical reality than the existing GPT models. …

CITE model, a CGE model with fully endogenous growth, and complement it with a bottom-up model. We find that the nuclear … with ambitious energy policies through sufficient innovation. Economic growth is not slowed down significantly. The phase …

overlapping generations model with three social classes: the rich, the middle class, and the poor. We show that there is an … different levels of education. As the economy proceeds toward a balanced growth path, educational differences between social …