The purpose of this study is to examine gold price in global markets. We introduce gold into a general dynamic equilibrium growth model with multiple countries and free trades between countries. The model is developed by integrating the Solow growth model, the Uzawa two-sector growth model, and...

We explore the relationship between government size and economic growth in an endogenous growth model with human capital and an unproductive capital which facilitates rent-seeking. With exogenous as well as endogenous time discounting, we find a non-monotonic relationship between the size of...