This paper develops a two-sector R&D-based growth model with congestion effects from increasing urban population density. We show that endogenous technological progress causes structural change if there are positive productivity spillovers from the modern to the traditional sector and Engel's...

Begriffe wie Staatsbankrott, spekulative Attacke und Gefährdung des Euro werden im Zusammenhang mit den offensichtlichen Schuldenproblemen einiger Euroländer genannt. Sie sind aber ungenau. Für eine Analyse möglicher Wirkungen des EU/IWF-Rettungsschirms und dessen aktuell diskutierter...

This paper develops a model with multiple market locations in which the quality of intangible assets of firms, provided by management, determines the firms. performance. Despite an ex ante symmetry of potential entrants, the equilibrium assignment of heterogeneous managerial skills to firms...

This paper develops a quality-ladder model of endogenous growth to study the interplay between in-house R&D and marketing expenditure. Although promotional activity is modelled as purely wasteful competition among firms for attention, it unambiguously fosters innovation activity of firms, and...