Empirical literature on the geographic location of creative activities is mostly based on the spatial analysis of industries, disregarding the creative employment that lies outside the necessarily limited boundaries of creative industries. In this paper, we analyse agglomeration and co-location...

Given the global financial crisis and, particularly, the European sovereign-debt crisis, European countries have the urgent need to promote output growth. However, due to the current financial constraints, it is difficult for the Governments to stimulate economic growth by directly increasing...

This paper builds an endogenous growth model of directed technical change with vertical and horizontal R&D and scale effects at the industry level to study an analytical mechanism that is consistent with the observed cross-country pattern in the skill structure, the technology structure and...

Abstract We propose an endogenous growth model with elements of new political economy in order to study the effects of political institutions and political rivalry on human capital accumulation and income inequality. Relating to the increasing literature on the relationship between income...

In a context of financial stringency like that characterizing the current economic land-scape in Portugal and in several other countries, accountability and efficiency questions gain an additional relevance in the higher education sector. In this paper we apply DEA techniques to evaluate the...

Given that science and technology are inductors of economic development, the emergence of a knowledge-based economy creates an overlay of communications and expectations that have led to institutional restructuring based on innovative capacities. While the literature tends to concentrate on...

Based on an extended model of endogenous directed technical change and on cross-country data, we identify and quantify the long-run link between: (i) the technology structure (high- versus low-tech sectors) and the skill structure (high- versus low-skilled workers), by considering an explicit...

This paper focuses on the gradual decomposition of classical political economy and its transformation into ‘economics’, a process which was to culminate in the conception of ‘theory’ as a mere engine of analysis. Why exactly did modern ‘economics’ become accepted? What was meant to...

Literature on dynamic portfolio choice has been finding that volatility risk has low impact on portfolio choice. For example, using long-run U.S. data, Chacko and Viceira (2005) found that intertemporal hedging demand (required by investors for protection against adverse changes in volatility)...

Some publications strongly influence how research in a field evolves and in which direction, particularly by introducing and developing new concepts and insights. The analysis of such seminal publications is an interesting way to examine a scholar’s or a theory’s influence on a discipline....