Economic disparities among cities and regions persist and in some cases are increasing. To promote development of lagging economies, extant policies focus on the lagging regions and attempt to create conditions that are attractive to the immigration of capital, labor and above all knowledge. We...

Global temperature has gradually been warming, which has had different impacts on economic activities in various countries. How to mitigate the negative impact of global climate change on economic development has become an important issue of concern for both governments and academia. In this...

We develop a Schumpeterian growth model to analyze the interaction between patent policy and firms’ internal strategies to capture value from innovations. We consider two dimensions of patent policy: backward protection against imitation and forward protection, also known as blocking patents,...

To build a DSGE model, we introduce a mechanism that endogenously determines economic growth based on human capital accumulation theory. We also introduce a mechanism that endogenously determines fiscal expenditure by adding the price for public goods provided by the government. Additionally,...

This study examines the role of endogenous technology in making sustained economic growth in a panel of 36 Sub-Saharan Africa (SSA) countries over the period 1990–2020. Based on the data originally obtained from the United Nations aggregate database, World Bank development indicators and...

We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem. The theorem implies that neoclassical growth models need at least three factors of production to be consistent with empirical evidence on both the capital-labor elasticity of substitution and the existence of...

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that are relevant for monetary policy. The model matches remarkably well the short and long run dynamics of skilled and unskilled workers. Skill mismatch and skill-specific labour...

We study the properties of economic growth in a region that is driven by the activities of the so-called creative class. On the consumption side of our regional economy, we focus on an infinitely lived creative class household and on the production side of this same economy, we concentrate on a...

This paper examines how the degree of interbank competition affects real economic growth, growth patterns, and consumer welfare using a dynamical systems approach. Risk averse agents insure against idiosyncratic risk via deposit contracts that maximize bank profits. These contracts are derived...