We study the effects of trade on economic growth in a Schumpeterian framework. The model excludes scale effects and technology transfer, the two usual channels in the literature through which trade affects growth, leaving only comparative advantage. Comparative advantage and the trading pattern...

We construct and test a theory of how international trade and endogenous economic growth interact to affect the evolution of cross-country differences in GDP. The theory combines a second-generation endogenous growth model with a Ricardian model of trade. The driver of growth is technical...

This dissertation studies topics in capital markets from the perspectives of financial econometrics and empirical finance. It consists of three essays, each corresponding to one chapter. In the first chapter, we analyze whether the systematic asymmetry factor, proxied by skewness of the market,...

In this note, we develop a monetary Schumpeterian growth model to explore the effects of monetary policy on endogenous market structure, economic growth and social welfare. We find that an increase in the nominal interest rate reduces the equilibrium number of firms. Although long-run economic...

This study explores the different implications of patent breadth and R&D subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that when the number of firms is fixed in the short run, patent breadth and R&D subsidies serve to increase economic...