. An overlapping generation model has been developed in order to analyze the effects of health on the accumulation and intergenerational transmission of human capital. The model shows that the human capital transition function can provide multiple steady states when it is assumed that returns to...

Peter Diamond has made fundamental contributions to economic theory over a wide range of areas including search theory and its implications for unemployment (for which he was awarded the Nobel Memorial Prize), optimal taxation, which he pioneered with James Mirrlees, incomplete markets and their...

A model is presented where economic growth is co-determined with the number of entrepreneurial firms as functions of union wage bargaining power and of inter-firm labour mobility. There is an inverse-U relationship between economic growth and the number of firms, if they are both heterogeneous...