We illuminate several important aspects of the nature and causes of growth and institutional change. To do this, we focus on the role resource pressures have played in the historic development of Hawaii’s institutions. We discuss the Hawaiian story in the context of the natural co-evolution of...

This paper presents an endogenous growth model where, in line with the recent empirical evidence, the telecommunications industry (telecom) is an engine of growth. In such a framework, this paper analyzes the channels through which telecom contributes to economic growth and focuses on market...

When firms engaged in R&D are observably heterogenous (in size) and policymakers are able to condition policy on the observed heterogeneity, what is the optimal policy? This paper starts with a static two-stage duopoly model of R&D competition with uncertainty and finds it welfare enhancing to...

Static multi-criteria problem of investing in innovative projects on a set of coalitional partitions finding means compromise vector (one or more) of investment programs, where each component is an investment program of the corresponding innovative project. The search of compromise vector is...

Abstract. We put forward a tractable, interpretable, and easily generalizable framework for modeling endogeneous factor-augmenting technology choice by monopolistically competitive firms. The setup is framed within the standard Dixit and Stiglitz (1977) model of monopolistic competition. Optimal...

We consider a continuous-time neoclassical one-sector stochastic growth model of Ramsey-type with CRRA utility and Cobb-Douglas technology, where each of the following components are exposed to exogeneous uncertainties (shocks): capital stock K, effectiveness of labor A, and labor force L; the...

This paper presents a simple model of Network Dynamics to underpin the stages of theoretically understanding Network Effect for better inter-disciplinary and -functional collaboration. It mainly illustrates Social Network Growth as exponentially driven by potential connectivity mutually...

The paper quantifies the impact of agglomeration economies on the clustering of German firms. Therefore, I use the 2006 Innobarometer survey, which focuses on cluster characteristics and activities of German firms, to empirically identify agglomeration economies derived from the New Economic...