This paper aims at providing a simple economic framework to address a somewhat neglected question of economic policy, namely the optimal share of investments in medical R&D in total public spending. In or- der to capture the long-run impact of tax-financed medical R&D on the growth rate, we...

The purpose of the model developed in the paper is to provide a simple economic framework to address an economic policy question, namely the optimal size of military R&D investment within total public expenditures. To capture the long-run impact of military R&D on the growth rate of the economy,...

[fre] La révolution des Nouveaux Classiques a brisé le consensus régnant au sein de la synthèse keynésienne, mais a initié un nouveau consensus méthodologique : toute approche macroéconomique se doit de reposer sur les fondements micro-économiques solides de la théorie des choix. Les...

[eng] The research program called « Economics of Conventions » aims at revisiting the century- long separation, within mainstream economics, between the issues of coordination, rationality and ethics. . In the realistic world of bounded rationality, the rules are a fundamental means of...