growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart …-Krusell preferences (Boppart and Krusell (2020)). On the supply side, economic growth is due to the expansion of consumption … may fluctuate between two growth regimes, one with and the other without an active research sector. Fluctuations affect …

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of … technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The … capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …