After World War II economists acquired increasing importance in the American society in general. Moreover, the production of economics PhDs in the United States increased substantially and became a less concentrated industry. This period witnessed also the reformulation of the graduate education...

This paper shows, using a simple model, that wasteful innovations may result in a loss-loss situation where no country experiences an increase in welfare. If some countries introduce innovations that result in harmful effects on other countries, it may cause the adversely affected countries to...

Aid for trade is a new foreign aid initiative to assist recipient countries to build trade-related infrastructure. We formulate a small-country, two-good (i.e., investment and consumption goods), two-factor (i.e., capital and labor) endogenous growth model with learning by doing and...

The life of enterprises and the functioning of the entire economic system are strongly influenced by a typical phenomenon of the modern capitalistic system, namely the practice of corporate selffinancing, i.e. the presence of – voluntary or forced – undistributed profits. This topic, which...