For a long time economists have tended to ignore health as a relevant factor of production and important determinant of economic growth. The widely observed positive relationship between health expenditures and economic growth was considered the result of a strong positive income effect....

In this article we present a model with two levels of skills and two classes of goods, one produced with a technology requiring high skills, the other produced with a technology that can be operated by both low and high skilled workers. In this model skill biased technical change causes a drop...

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For seven European countries macro-level indicators of the accumulation of intangible capital are developed. Using hedonic prices deflate investments in IT hardware, IT software and telecommunication equipment, for both intangibles and ‘smart’ tangibles capital stocks are constructed. These...

We employ a general purpose technology model with endogenous stochastic growth to simulate the effects of different energy policy schemes. An R&D sector produces endogenous growth by developing radical and incremental technologies. These innovations result in blueprints for capital...

In this paper, the effects of uncertainty and of various policy instruments on the lengthand attractiveness of private research projects are studied. Research expenditure can beregained from quasi-rents that are earned by exploiting patents on the fruits of research.The accumulation of knowledge...