We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that...

The impact of fiscal policy on economic growth is investigated within a panel of euro area member states over the period 2004-2011. We mainly consider fiscal impulses identified by (a) changes in the structural primary balance, complemented by evidence from (b) the IMF narrative shocks developed...

This study reviews, from both a theoretical and empirical perspective, the links between composition and quality of public finances, on the one hand, and long-term economic growth, on the other, focusing on the EU-15 countries. Specifically, for a given level of the general government balance,...

We study the properties of economic growth in a region that is driven by the activities of the so-called creative class. On the consumption side of our regional economy, we focus on an infinitely lived creative class household and on the production side of this same economy, we concentrate on a...

The European market has been served by regulated and licensed e-money tokens (EMTs) since 2019, contradicting the claim that legal clarity is needed for EMTs. Despite the well-functioning e-money legislation, the EU Parliament will vote on a new regulation specifically for EMTs as part of the...

This paper aims at analyzing the e ects of lobbying over economic growth and primarily welfare. We model explicitly the interaction between policy-makers and firms in a setup where the latter undertakes political contributions to the former in exchange for more restrictive market regulations...

We study an endogenous growth model where a profit-motivated R and D sector coexists with the introduction of free blueprints invented by philanthropists. These goods are priced at marginal cost, contrary to proprietary ones which are produced by a monopoly owned by the inventor. We show that...

We analyse how spatial disparities in innovation activities, coupled with migration costs, affect economic geography, growth and regional inequality. We provide conditions for existence and uniqueness of a spatial equilibrium, and for the endogenous emergence of industry clusters. Spatial...

The main objective of this paper is to analyze the links between product market competition, innovation and growth. In a step-by step innovation model we explicitly introduce the distinction between knowledge and technology information flows. Patents protect their holders from being imitated or...