In this paper, we develop a model of innovation-based growth to address the issue of skill-biased technical change over the long run. We show that innovations fluctuate endogenously from skill-intensive to unskilled-intensive sectors, thereby generating periods of increasing and decreasing wage...

We contribute to the debate on skill-biased technical change by studying the long-run dynamics of skill premia in an endogenous growth model in which technical change can be directed alternately towards different factors. We show that R&D resources tend to be directed alternately towards...

[eng] As major determinants of economic activity, innovation and research and development activities are major issues in the analysis of growth. Focusing on microeconomic aspects of innovation within the endogenous growth literature helps reconsidering the sources and mechanisms of growth. This...

In this paper, I introduce money in the standard labor-matching model (Mortensen and Pissarides 1999, Pissarides 2000). A double coincidence problem makes Fiat Money necessary as a medium of exchange. In the long-run, a rise in the rate of money growth leads to higher inflation and higher...

Because of Time Inconsistency considerations, policymakers underestimate the drawbacks of wage rigidity as a redistributive tool. Consequently, they redistribute inefficiently income from high to low skilled workers. They typically implement too much wage rigidity whereas other means (in...