The problem of identification of efficient economic conditions, arising from the «horizontal» agents’ relationship, is considered. It’s shown that the application of classical concept of market failure is insufficient. The alternative concept of disbalances are examined. The greater...

According to the available evidence, stronger patent protection exerts, at best, a modest positive effect on economic growth. Different variants of Schumpeterian growth models predict a wide range of outcomes, from strongly positive to strongly negative effects. We propose a Schumpeterian growth...

This study examines the impact of the occurrence of a military coup on the democratic attitudes of citizens in neighboring countries. Using nationally representative survey from multiple countries and the identification strategy of the unexpected event during survey design, we show that those...

This article critically examines the transformative potential of technological innovation in revitalizing Nigeria’s manufacturing sector, a cornerstone of the nation’s economic diversification agenda amid declining oil revenues and persistent macroeconomic instability. Through a...

The fires in Los Angeles ignited in January 2025. I will use this shock to sketch out my main themes as I will explore the microeconomics of natural disasters as I focus on the causes and consequences of extreme weather events; including hurricanes, tornadoes, wildfires, extreme heat, and...

This study investigates how Artificial Intelligence (AI) affects fertility decisions, economic growth, and overall social welfare. Despite substantial technological progress and increases in economic output (GDP), advanced economies, notably Japan, face severe demographic challenges due to...

Social interaction in workplaces fosters mutual understanding and narrows psychological distances between team members. We model this interdependence in team production with complementary efforts, examining how social interaction improves team performance. Our theoretical framework predicts that...

The rapid adoption of artificial intelligence (AI) in the corporate world has raised important questions about its impact on firm performance. This paper examines whether investments in AI—measured by the share of AI-skilled workers—are associated with improvements in firm efficiency. The...

In the current study, we document a steady rise in the share of renewable energy projects in China's outward direct investment (ODI) in the energy sector. We examine the driving forces and find that both host country's environmental regulation and financial factors has generated different or...

In this paper, I develop a two-sector growth model in which the output of each industry is obtained only by means of capital. From a theoretical perspective, this setting reveals that the determinacy of the equilibrium path is possible even when the production technology available in the...