The paper investigates, from the welfare and growth point of view, the determination of the optimal capacity of the banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal differentiation and imperfect competition in the banking...

Cet article propose un modèle de croissance endogène dans lequel on introduit des intermédiaires financiers en concurrence imparfaite et une rémunération du capital soumise à un choc macroéconomique. Les anticipations rationnelles des ménages sur le risque de faillites bancaires (dont...

This paper studies how the assignment of patents as collateral determines the savings of firms and magnifies the effect of innovative rents on investment in research and development (R&D). We analyse the behaviour of innovative firms that face random and lumpy investment opportunities in R&D....