By using an original dataset, this paper analyzes the sustainability of Italy's current accounts over the years 1861-2010. We find empirical support to sustainability: the Italian economy used external deficits (surpluses) to smooth aggregate consumption. Persistent current account deficits from...

This paper evaluates the greenhouse gas emissions and economic impacts from producing biofuels in Tanzania. Sequentially-linked models capture natural resource constraints; emissions from land use change; economywide growth linkages; and household poverty. Results indicate that there are economic...

This paper evaluates the greenhouse gas emissions and economic impacts from producing biofuels in Tanzania. Sequentially-linked models capture natural resource constraints; emissions from land use change; economywide growth linkages; and household poverty. Results indicate that there are economic...

The recent financial and economic crisis has put considerable strains not only on public but also on private finances. In the paper we analyse the development of nonfinancial corporate debt (measured as liabilities minus shares and other equities) in the time period 1995-2010 for 17 European...

The authors develop a theoretical model of underdevelopment whirlpools, conduct the analysis of economy development of Russia and the countries of Eastern Europe using the underdevelopment whirlpools methodic, and analysis of opportunities and prospects of economy development of Russia and the...

In this paper we study the economic implications of IPR protection on corporate intelligence, R&D investment and economic growth. To accomplish this objective, we present a dynamic, scale-invariant Schumpeterian model of growth with information gathering and analyze the steady-state e¤ects of...

Devoting an increasing amount of resources to the investment process tends to be a common recommendation to promote a sustained economic growth. Curiously enough, according to growth neoclassical theory, the factor that determines growth in the long-term is technological progress rather than...

A usual policy recommendation to promote sustained economic growth it to dedicate increasing resources to the investment process (i.e. high investment rates). In contrast, a well known result of neoclassical growth theory is that the only determinant of long run growth is technological progress,...

We construct an otherwise standard general equilibrium model of economic growth and endogenously chosen fiscal policy, in which individuals compete with each other for extra fiscal transfers and two political parties compete with each other for staying in power. The main prediction is that...

This short paper reconsiders the popular result that the lower the probability of getting reelected, the stronger the incumbent politicians incentive to follow short-sighted, inefficient policies. The set-up is a general equilibrium model of endogenous growth and optimal fiscal policy, in which...