The models of technology diffusion originally proposed by Metcalfe (1981), Batten (1987) and Amable (1992) are modified so as to allows for price expectations of adopters and suppliers of an innovation. We show many interesting and somewhat unexpected results, which were not noticed in the...

In the present work we show that, when one allows for endogenous fertility in Diamonds (1965) OLG model, public debt plays still a clear-cut role on dynamic inefficiency (DI): for correcting DI, national debt must be increased. DI is more likely to occur when the economy capital income share and...

In this paper we show that, when endogenous fertility is considered via Cobb-Douglas preferences, public debt plays a clear-cut role on dynamic inefficiency (DI) of an OLG economy: in fact, for correcting the DI problem, debt must be increased (decreased) when the economy is overaccumulating...

In this paper we have developed a "minimalist" Keynesian model (simplified version of Tobin's model, 1975) aiming at demonstrating the existence of endogenous cycles. We have shown that the Tobin's interpretation of the forces governing the stability can be misleading, in that 1) the speculative...

The relationship between wage inflation and unemployment has been extensively investigated since the early work of Phillips (1958) and Lipsey (1960), and is still a matter of debate. In this paper we study the dynamics of a standard neoclassical labour market under Walrasian adjustment rules. We...

The paper investigates the role of progressive income taxation in the frame of the basic multiplier-accelerator model in continuous time. It is shown that, while the proportional taxation is, as common wisdom believes, always stabilizing, in the case of non-linear progressive taxation, an...

Recently Fanti and Gori (2008) showed – in the basic overlapping generations (OLG) model of neoclassical growth with exogenous fertility (Diamond, 1965) – that a positive relationship between longevity and pay-as-you-go (PAYG) pensions may exist independently of the size of the contribution...

This paper offers a unified perspective of the analytical detection of Hopf bifurcation, which is a crucial tool in dynamic economic modelling. We clarify the relations between stability theorems and the notions of Simple and General Hopf Bifurcations. A Lienard-Chipart-type theorem for...

In this paper we show that, when endogenous fertility choices are accounted for, the traditional rule provided by Diamond (1965) should be amended in order to effectively implement the first best allocation of an OLG economy, even in the presence a non distortionary tax for financing national...

We offer an analysis of the existence of a positive relationship between minimum wages and economic growth in a fairly standard general equilibrium, one-sector, two-period overlapping generations model, where the usual Romer-typed knowledge spill-over mechanism in production represents the...