Some recent work on economic growth considers the aggregate elasticity of substitution between capital and labor as a measure of economic flexibility. It is thought to depend on technological and institutional determinants. I study how a openness to trade affects the aggregate elasticity of...

The paper develops a two-country dynamic general-equilibrium model of growth without scale effects to explore the effects of globalization on long-run growth and wages. Higher quality products are endogenously discovered through stochastic and sequential global innovation contests in which...

The purpose of this paper is to introduce a new method capable of evaluating the economic welfare for quality graded fish products using the hedonic price method for plaice in Denmark. Today no labelling scheme exists for the final consumers of different qualities of fish. A scheme does only...

The paper sets up a discrete-time, deterministic, coalition game model among the major agents exploiting the cod stock in Baltic Sea. The characteristic func-tion is constructed and the Shapley value and the nucleolus are used as one-point solution concepts. The paper identifies the problem with...

The paper sets up a four-stage enforcement model of fish quotas. The purpose of the paper is to show how the level of enforcement set by the authorities af-fects the way fishermen form coalitions. We show that a high level of control effort yields less cooperation among fishermen, while in the...

With The General Theory Keynes initiated a true revolution in the field of economics putting forward a new way of reasoning which gave way to modern views on economic policy. However, he was not the only one who thought along these lines in the 1930s. Jørgen Pedersen, who was to become the...

The paper embodies an evaluation of the fishery policy at EU level. The common fishery policy is designed to solve a complex set of problems that emerge in the sector. This embodies on the one hand that the fishery policy is directed towards objectives that have their offspring in different...

Fra den økonomiske teorihistorie er Thomas Malthus kendt, berømt og måske også berygtet for sin pessimistiske befolkningslære. Udover med dette teori-element at levere argumentationen hos de klassiske økonomer for, at arbejds-kraften i normale situationer nødvendigvis må blive aflønnet...

This paper considers the policy outcome of a contest between two opposing in-terest groups: the incumbent fishermen and a group of conservationalists. The objective of the fishermen is to maximize profit, and they are (partly) concerned over future profitability as well, while the...

A cooperation between The Farmers Association of Southern Jutland, Institute of Food Economics Department of Environmental and Business Economics, USD, and Centre for Rural Development, hosting Leader+ Denmark This report is a translation of the original report in Danish: (Jørgensen, H. P. and...