The priorities of the EU budget for 2009 are: economic growth, employment, climate, strengthening security and safety of European citizens, the social dimension of the EU. Divided into areas, the EU provides for sustainable development, regional education and research 45.9 billion for natural...

This article describes the macroeconomic model used in an ongoing study of technology policies and North-South relations. Other aspects of the study have been described elsewhere [1,2]. We examine here the rationale for the theoretical structure used in the model, the details of the equations,...

Learning has been recognized as an important factor in explaining the growth of firms in both industrial organization theory and literature. However, few models have attempted to relate the learning and growth literature with the industrial policy regime, especially in economies heavily...

This paper investigates the effects of (``keeping up with the Joneses'' and ``learning-by-investing'') externalities, when labor productivity decreases with age. Within the framework of a continuous time overlapping generations model, the effects of the consumption externality on the propensity...

Skill intensive technologies seem to be adopted by rich countries rather than poor ones. Related to that observation, the ratio of wages of skilled to unskilled workers - the skill premium - shows two important features over time and across countries. In the US the skill premium decreased during...

Using annual data for Colombia over the last 30 years, we test competing theories that explain macroeconomic fluctuations: the neoclassical synthesis, which posits that in the presence of temporary price rigidity, an unanticipated monetary expansion produces output gains that erode over time...

In this paper, we analyze implications of corruption on growth. We extend existing growth models by incorporating ubiquitous corruption as a by-product of the public sector. Corruption affects both taxation and public good provision, and therefore causes income redistribution and inefficiencies...

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad...

This paper provides an extensive review of growth, inequality and poverty reduction in the East Asian miracle economies. This review suggests that the basic impetus for poverty reduction was robust economic growth, which was fostered by a conducive policy and institutional framework. This...

A problem of existence and characterization of solutions of optimal growth models in many sector economies is studied The social utility to be optimized is a generalized form of a preference depending additively on consumption at the different dates of the planning period. The optimization b...