This paper examines how the degree of interbank competition affects real economic growth, growth patterns, and consumer welfare using a dynamical systems approach. Risk averse agents insure against idiosyncratic risk via deposit contracts that maximize bank profits. These contracts are derived...

This paper constructs a two-country model to investigate how tariff policy influences productivity growth through adjustments in industry location patterns. The locations of production and innovation are determined based on trade barriers and imperfect knowledge dissemination. Tariff policy has...